Saba Opportunistic Hedged Closed-End Funds ETF
$24.42+0.13 (+0.54%)
- 1.11%
- $432M
- +16.3%
- 7.87%
- 0.1M sh
- $24.50
- low $22.05high $25.98
The ETF.net CEFS Grade
Score 52 out of 100
- 4 of 7
Score 52 of 100 falls in the C 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.B56 out of 100Rank 3 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.C47 out of 100Rank 5 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D34 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
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
- 88
- 61%
- 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 States96.17%
- Mexico2.43%
- Germany1.41%
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 Oct 12, 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 | +11.5% |
| 1 month | −2.3% |
| 3 months | −2.2% |
| 1 year | +16.3% |
| 3 years | +21.6% |
| 5 years | +12.7% |
| 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 | +11.5% | |
| 2025 | +16.6% | |
| 2024 | +23.5% | |
| 2023 | +21.0% | |
| 2022 | −7.1% | |
| 2021 | +17.9% | |
| 2020 | +3.3% |
CEFS in the news
No ETF.net Research article names CEFS yet.
CEFS Dividends
- 7.87%
- $1.91
- $0.25 per share
- Monthly
Distribution history
CEFS Risk
- 11.7%
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.
- 1.37
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.
CEFS Cost
- The middle half of Closed-End Fund Portfolios funds
- Median 2.76%
2 of the 7 Closed-End Fund Portfolios funds charge less.
Other funds in Closed-End Fund Portfolios
- BCCEFCalamos CEF Income & Arbitrage ETFExpense ratio 0.74%1 year return +8.9%
- BPCEFInvesco CEF Income Composite ETFExpense ratio 2.76%1 year return +5.9%
- CYYYAmplify CEF High Income ETFExpense ratio 3.23%1 year return +1.0%
- DCEFZRiverNorth Active Income ETFExpense ratio 2.82%1 year return +7.7%
- DRDFIRareview Dynamic Fixed Income ETFExpense ratio 4.23%1 year return −3.1%