Equity CEFs: You Want To Know The One CEF That Was Positive In 2008? [Seeking Alpha]
Eaton Vance Risk-Managed Diversified Equity Income Fund Common Shares of Beneficial Interest (ETJ)
US:NYSE Investor Relations:
funds.eatonvance.com/risk-managed-diversified-equity-income-fund-etj.php
Company Research
Source: Seeking Alpha
Summary I watch the Eaton Vance equity CEFs like a hawk each trading-day so its shocking to me when investors sell down the most defensive Eaton Vance CEF in a weak-market. On the other hand, several Eaton Vance funds continue to trade at premium valuations despite negative NAV performances this year. Who does that? The funny thing is that the distribution yields are pretty much the same at around 10% so if you think the markets stay defensive, you should be making this swap. During the financial crisis in 2008, there was only one equity CEF that I know of that was positive at market price total return and that fund was the Eaton Vance Risk Managed Diversified Equity Income fund ( ETJ ) , $9.16 market price, $9.60 NAV, -4.6% discount, 10.0% current market yield . Do the math. ETJ's market price was at $18.70 on December 31, 2007 and was at $17.98 on December 31, 2008. Throw in $1.80 of distributions during the year (back then, Eaton Vance paid quarterly at $0.45/s
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ETJ
Sec Filings
- 3/8/24 - Form N-CEN
- 3/8/24 - Form 424B3
- 2/28/24 - Form N-CSR
- ETJ's page on the SEC website