Exchange-traded funds (ETFs) have rapidly earned a favored spot among investors thanks to their dirt-cheap diversification. If you want to quickly build a blended portfolio at a low price, it’s hard to do better than ETFs.
Closed-end funds (CEFs), by contrast, are virtually an afterthought, and that’s too bad. Because in many cases – including the three high-yield dynamos I want to show you today – they’re a superior source of quality and raw total-return performance.
What is a closed-end fund exactly? Funnily, it sounds almost like an ETF – it’s a big, pooled investment in numerous securities (stocks, bonds, preferred shares or other assets) that trades on an exchange.…