Guggenheim Enhanced Equity Income Fund: Mixed Record And High Risk [Seeking Alpha]
Guggenheim Enhanced Equity Income Fund (GPM)
US:NYSE Investor Relations:
guggenheiminvestments.com/cef/fund/gpm
Company Research
Source: Seeking Alpha
Guggenheim Enhanced Equity Income Fund: Mixed Record And High Risk Summary Guggenheim Enhanced Equity Income Fund utilizes leverage in a covered call strategy to generate an 11.9% distribution yield. GPM has a poor performance record against the S&P 500 on a total return basis and lower risk-adjusted returns compared to its benchmark buy-write index. 2.64% expense ratio is particularly high among funds in the category, while current premium to NAV at 2% is at a historically high level. Distribution yield at 11.9% is enticing, but investors should be aware of potentially high volatility. Utilization of a current 31% leverage position allows the fund to generate an 11.9% distribution yield. GPM price chart. Source: FinViz.com Composition Of GPM Based on the asset allocation, GPM currently holds the entire S&P 500 index constituents in an equal weight strategy representing 68.53% of total assets. Separately, the fund also holds a 31.5% weighting across the SPDR S&P 500 ETF (NYSE: SPY IWM
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