Best-Rated Closed-End Funds in April - TheStreet

Best-Rated Closed-End Funds in April

Equity income, international and municipal funds performed well in the month.
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The best-rated closed-end funds for the month of April focused on equity income, foreign/international funds and municipals, both national and state.

The equity income and municipal funds show that the U.S. domestic landscape in terms of closed-end funds is governed by a search for yield in an ever-more difficult environment.

The

Federal Reserve's

reduction of interest rates this year led to financial asset prices in general rising. That's similar to the period in 2001-2002 when rates were slashed and asset prices, including residential property, soared. As asset prices rise, yields fall. The assets that deliver yield in the current environment include commercial real estate (REIT) funds, municipals and dividend paying equities.

Although municipals are but one part of a broad U.S. debt market, their revenue stream generated by the taxing power of government and their tax-advantage status make them attractive in the generally risk-averse current environment.

One other sector in the U.S. and globally that has performed well is energy and natural resources, driven by the relentless rise in the price of crude and gold.

Outside of the U.S., there are various regions that investors can take positions in. Closed-end funds focused on overseas markets have seen their returns assisted by more favorable economic conditions overseas, as well as a weak dollar; when foreign returns are converted back to U.S. dollars, returns are amplified further.

Fund

TSC Rating

Ticker

1 Month Return

3 Month Return

Category/Sector

BlackRock Real Asset Equity Trust

A+

BCF

2.76

8.41

Equity Income

Eaton Vance Tax Adv Glob Div Inc

A+

ETG

6.86

-0.52

Global Equity

BlackRock Global Energy & Resources

A+

BGR

5.96

10.42

Sector - Energy/Natural Res

Eaton Vance Tax Advantage Div Inc

A

EVT

6.35

0.34

Equity Income

Aberdeen Australia Equity Fund

A

IAF

0.3

3.47

Non-US Equity

Eaton Vance Tax Adv Global Div Opp

A

ETO

8.72

6.07

Global Equity

Nuveen Select Tax-Free Inc 3

A

NXR

1.02

4.19

Municipal - National

BlackRock CA Municipal Income Trust

A

BFZ

1.02

0.92

Municipal Single State

Lazard Global Total Return&Income

A

LGI

5.07

1.4

Global Equity

Western Asset Managed Municipals

A

MMU

0.78

0.71

Municipal - National

Nuveen Muni Value

A

NUV

1.93

2.34

Municipal - National

BlackRock NY Muni Bond Trust

A

BQH

1

-3.96

Municipal Single State

Nuveen Select T-F Inc Portf 2

A

NXQ

3.57

4.77

Municipal - National

BlackRock CA Muni Bond Trust

A

BZA

-0.53

2.01

Municipal Single State

BlackRock S&P Qual Rkg Glob Eq Mgd

A

BQY

1.51

-0.1

Global Equity

Mexico Fund

A

MXF

-2.3

0.67

Non-US Equity

Emerging Market Telecom Fund

A-

ETF

1.84

-1.94

Emerging Market Equity

Boulder Total Return Fund

A-

BTF

3.02

-2.83

Equity Income

BlackRock Enhanced Capital and Inc

A-

CII

3.5

-1.18

Growth & Income

Sam Patel, CFA, is the manager of mutual fund research for the TheStreet.com Ratings.

In keeping with TSC's Investment Policy, employees of TheStreet.com Ratings with access to pre-publication ratings data must pre-clear any potential trade through the legal department, and are prohibited from trading any security that is the subject of an unpublished rating revision until the second business day after the rating is published.

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