Six Large High-Yield Closed-End Funds

Investors looking for high-yield diversified investments may want to add high-yielding closed-end funds to their portfolio. Below are six funds that trade at a discount to their net asset value (NAV) with market capitalizations over one billion dollars and yields in excess of eight percent.

Closed-end funds tend to have higher annual expense ratios than exchange-traded funds so check a fund's fee schedule before you buy it.

Large High-Yield Closed-End Funds
Fund & Web Site	Symbol	Distribution Rate	Discount to NAV	Annual Expense Ratio	Primary Investment Objective	Investments
Calamos Strategic Total Return	CSQ	9.56%	10.31%	1.61%	Total return	Equities, convertible bonds and high-yield bonds
Cohen & Steers Select Utility	UTF	8.84%	8.62%	1.24%	Total return	Public utility companies
DNP Select Income Fund	DNP	7.06%	15.95%	2.26%	Income	Public utility companies - electric, gas and telephone service.
Eaton Vance Tax-Managed Buy-Write Opportunities Fund	ETV	11.22%	6.46%	1.06%	Income	Equities and write call options.
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund	ETW	10.59%	9.24%	1.08%	Income	Domestic and foreign Equities.
Nuveen Equity Premium OpportunitY Fund	JSN	10.23%	10.42%	0.64%	Income	Equities and index call and put options.
NOTE: Data are from ETFConnect as of May 3, 2008.

Related Articles:

Closed-End Dividend Stock Funds Offer Good Income At a Discount
Closed-End Funds
Exchange-Traded Funds (ETFs) Offer Diversification With Low Fees
High-Yield Exchange-Traded Funds Are Attractive Additions to an Income Portfolio

Updated May 4, 2008.