Saba Opportunistic Hedged Closed-End Funds ETF
$24.88−0.17 (−0.66%)
- Expense ratio
- 1.11%
- Fund size
- $437M
- 1Y return
- +18.4%
- Yield · Last 12 months
- 7.21%
- Holdings
- 97
- Volume · 30D
- 0.1M sh
- NAV per share
- $24.89
- 52W range
The ETF.net CEFS Grade
Score 53 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 45Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 64Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 72Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 32Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 59Category rank
Our read on CEFS
CSaba's ETF is built out of other people's funds: a closed-end-fund portfolio chasing capital appreciation and dividend income, running since 2017 and paying monthly.
The Fund seeks capital appreciation and dividend income.
Why people hold it
- One of only two closed-end-fund specialists in its alternatives peer group (Calamos' CCEF is the other), and it has been running that mandate since 2017.
- Trading is its strongest suit: shares change hands in an orderly, efficient way compared with the rest of its alternatives cohort.
- Distributions land monthly rather than quarterly, in step with an objective of capital appreciation and dividend income.
- An established fund, not a launch-and-see experiment: a 1940 Act structure that has been on the tape since 2017.
Worth knowing
- Cost is the headline trade-off: 4.29% a year against a peer median near 1.07%, and CEF-focused rival CCEF charges 0.74%.
- You own funds that own the assets, so results ride on the underlying closed-end funds: their portfolios, their borrowing, and swings in their price-to-value gaps.
- Overall it lands in the lower half of its alternatives peer group, with the fee doing most of the damage.
CEFS Holdings
- Other
- 97
- 67%
- CASH & OTHER
Sectors
- Financials48.9%
- Technology14.8%
- Energy10.1%
- Industrials7.4%
- Health Care3.8%
- Utilities3.7%
- Consumer Discr.3.7%
- Communication2.9%
- Cons. Staples2.0%
- Materials1.6%
- Real Estate1.1%
Geography
- United States95.64%
- Mexico2.73%
- Germany1.63%
CEFS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CEFS |
|---|---|
| Year to date | +13.8% |
| 1 month | −0.7% |
| 3 months | −1.4% |
| 1 year | +18.4% |
| 3 years | +21.5% |
| 5 years | +13.5% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CEFS |
|---|---|---|
| 2026 YTD | +13.8% | |
| 2025 | +16.6% | |
| 2024 | +23.5% | |
| 2023 | +21.0% | |
| 2022 | −7.1% | |
| 2021 | +17.9% | |
| 2020 | +3.3% |
CEFS in the news
ETF.net Research hasn’t filed on CEFS yet — coverage lands here as it’s written.
CEFS Dividends
- 7.21%
- $1.81
- $0.14 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 27, 2026 | Aug 31, 2026 | $0.14 |
| Jul 29, 2026 | Jul 31, 2026 | $0.14 |
| Jun 26, 2026 | Jun 30, 2026 | $0.14 |
| May 27, 2026 | May 29, 2026 | $0.14 |
| Apr 28, 2026 | Apr 30, 2026 | $0.14 |
| Mar 27, 2026 | Mar 31, 2026 | $0.14 |
| Feb 25, 2026 | Feb 27, 2026 | $0.14 |
| Jan 28, 2026 | Jan 30, 2026 | $0.14 |
| Dec 30, 2025 | Dec 31, 2025 | $0.27 |
| Nov 25, 2025 | Nov 26, 2025 | $0.14 |
| Oct 30, 2025 | Oct 31, 2025 | $0.14 |
| Sep 29, 2025 | Sep 30, 2025 | $0.14 |
CEFS Risk
- 12.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.26
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −16.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.84
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CEFS Cost
- The middle half of Closed-End Fund Portfolios funds
- Median 1.11%
3 of the 7 Closed-End Fund Portfolios funds charge less.