Saba Opportunistic Hedged Closed-End Funds ETF
$24.17−0.03 (−0.12%)
- 2.61%
- $424M
- +14.4%
- 7.32%
- 85.6K sh
- low $22.05high $25.98
The ETF.net CEFS Grade
Score 60 out of 100
- 2 of 7
Score 60 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A77 out of 100Rank 1 of 7Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B62 out of 100Rank 1 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C43 out of 100Rank 5 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D35 out of 100Rank 7 of 7Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B59 out of 100Rank 4 of 7
Our read on CEFS
In short
BSaba buys closed-end funds trading below net asset value, then hedges rate risk by shorting Treasuries and bond ETFs. Running since 2017, steered by the firm known for pressing CEF boards to close those discounts.
Stated mandate
The Fund seeks capital appreciation and dividend income.
Why people hold it
Worth knowing
CEFS Holdings
- Other
- 93
- 58%
- Cash & Other
Sectors
- Financials50.3%
- Technology15.0%
- Energy8.6%
- Industrials7.3%
- Health Care3.8%
- Consumer Discretionary3.6%
- Utilities3.6%
- Communication3.1%
- Consumer Staples2.0%
- Materials1.6%
- Real Estate1.1%
Geography
- United States88.49%
- United Kingdom2.43%
- Canada1.67%
- Taiwan1.11%
- South Korea0.82%
- China0.74%
- Japan0.67%
- Netherlands0.62%
- 3.44%
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 Nov 3, 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 | +11.1% |
| 1 month | −2.4% |
| 3 months | −1.5% |
| 1 year | +14.4% |
| 3 years | +20.8% |
| 5 years | +12.3% |
| 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 | +11.1% | |
| 2025 | +16.6% | |
| 2024 | +23.5% | |
| 2023 | +21.0% | |
| 2022 | −7.1% | |
| 2021 | +17.9% | |
| 2020 | +3.3% |
CEFS in the news
CEFS Dividends
- 7.32%
- $1.77
- $0.25 per share
- Monthly
CEFS Risk
- 11.5%
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.
- 1.44
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.
- 0.78
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
CEFS Cost
Cheapest in Closed-End Fund Portfolios
$39,834
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
CEFS 2.61%
$39,834
Cost over time
Year by year
| Year | CEFS |
|---|---|
| 10 | $4,305 |
| 20 | $15,082 |
| 30 | $39,834 |
Other funds in Closed-End Fund Portfolios
- BPCEFInvesco CEF Income Composite ETFExpense ratio 2.71%1 year return +3.6%
- CYYYAmplify CEF High Income ETFExpense ratio 3.23%1 year return +0.4%
- CCEFZRiverNorth Active Income ETFExpense ratio 2.82%1 year return +6.0%
- CFCEFFirst Trust Income Opportunities ETFExpense ratio 3.69%1 year return +7.2%
- CCCEFCalamos CEF Income & Arbitrage ETFExpense ratio 3.19%1 year return +6.3%