TheStreet.com Ratings initiated coverage of eight closed-end funds that accrued a track record of at least one year of risk and performance data by the end of June.
None of the closed-end funds that opened for business in June of 2007 received our top rating level of Excellent. Not even one managed a rating of Good or even Fair. All of the newly rated closed-end funds performed poorly in relation to all the other exchange-traded and closed-end funds we rate.
The highest-ranked fund of the bunch is the D-rated Van Kampen Dynamic Credit Opportunities Fund(VTA Quote). Capital appreciation is a secondary goal to generating current income. To that end, the fund is paying out monthly installments at current 12-month yield of 11.66% that has mitigated some of the loss over the last year from investing in loans and other debt instruments.
Ranked slightly worse, at D-minus, is the Nuveen Tax-Advantage Dividend Growth Fund(JTD Quote). This fund pays income quarterly, currently yielding 11.55%. Top holdings include Equitable Resources(EQT Quote), Yum! Brands(YUM Quote), AT&T(T Quote) and Chevron(CVX Quote).
Research Methodology
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