Key stats
About Saba Closed-End Funds ETF
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Inception date
Mar 20, 2017
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Exchange Traded Concepts LLC
Distributor
Foreside Fund Services LLC
CEFS offers closed-end funds in an ETF wrapper: An actively managed manager-of-managers strategy for income and capital appreciation. The fund manager uses a proprietary process to select a diverse group of closed-end funds trading at a discount with additional fundamental and quantitative analyses. The fund also hedges for interest rate risk. Underlying funds primarily focus on high yield securities supplemented by other non-fixed income high-income funds. Since most underlying funds are actively managed, CEFS`s composition and return pattern will be unpredictable. Investing in the fund, in essence, is betting on CEFS manager`s ability to pick other active managers. CEFS`s headline fee includes the fees of the underlying CEFs. Investors of CEFS should look through to net asset values of underlying closed-end funds to determine the CEFS`s true premium/discount, the premium/discount for the ETF itself only reflects the outer wrapper.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Mutual fund
Bonds, Cash & Other100.00%
Mutual fund101.18%
Cash5.18%
Miscellaneous−6.36%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
CEFS top holdings are BlackRock ESG Capital Allocation Term Trust and BlackRock Technology and Private Equity Term Trust, occupying 12.31% and 9.67% of the portfolio correspondingly.
CEFS last dividends amounted to 0.14 USD. The month before, the issuer paid 0.14 USD in dividends,
CEFS assets under management is 280.76 M USD. It's risen 10.05% over the last month.
CEFS fund flows account for 74.05 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, CEFS pays dividends to its holders with the dividend yield of 8.13%. The last dividend (Apr 30, 2025) amounted to 0.14 USD. The dividends are paid monthly.
CEFS shares are issued by Cottonwood ETF Holdings LLC under the brand Saba. The ETF was launched on Mar 20, 2017, and its management style is Active.
CEFS expense ratio is 4.29% meaning you'd have to pay 4.29% of your investment to help manage the fund.
CEFS follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
CEFS invests in funds.
CEFS price has risen by 6.02% over the last month, and its yearly performance shows a 2.46% increase. See more dynamics on CEFS price chart.
NAV returns, another gauge of an ETF dynamics, have risen by 6.61% over the last month, showed a −0.78% decrease in three-month performance and has increased by 12.83% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by 6.61% over the last month, showed a −0.78% decrease in three-month performance and has increased by 12.83% in a year.
CEFS trades at a premium (0.32%) meaning the ETF is trading at a higher price than the calculated NAV.