. .

CLOSED-ENDED MUTUAL FUND RANKING PER NAV DISCOUNT

Ranking of best closed-ended mutual funds based on discount from net asset value (NAV), annual expense ratio, and plans to reduce or eliminate discount.

All open-ended mutual funds are guaranteed to perform worse than the securities that they hold. The same applies to many closed-ended mutual funds. However, there is a small group of closed-ended funds, listed below, whose performance expectation is much better than that of the securities they hold. They are not just the best buys among closed-ended mutual funds but are some of the best buys among all stocks whose expected performance can be analyzed mathematically.

Unlike other rankings that reflect past performance and are not predictors of future performance, our scientific ranking reflects probability of high future return on investment made today. Our ranking is based on two main factors that are best quantifiable predictors of future returns: NAV discount and Expense Ratio. A third criterion taken into account in our ranking is evaluations of the plans the fund has, if any, to reduce its discount in the near future.

All the funds listed below are recommended. Among them, the reader may wish chose those appearing at the top of the list. Some readers may wish to narrow down the selection further by analyzing other unquantifiable factors: investment policy, sector, dividends, and news about these funds. (We have already factored in the news that some of these funds intend to become open-ended funds or to implement another policy to expedite the reduction or elimination of their discount off NAV. A link to a list of news articles about all the funds we recommend, as well as other information, is given at the bottom of this report.)

We rank funds traded on U.S. markets; however their portfolios may be composed of stocks traded on U.S. or foreign markets. Typically, the best discounts today are obtained for U.S.-traded funds specializing in overseas markets as well as a few U.S. funds specializing in the U.S. market.

Funds with high discount off NAV are likely to reduce their discount in the future, thus offering the investor a good possibility of appreciation of the fund's stock greater than the appreciation of the fund's portfolio. However, funds with high Annual Expense Ratio reduce their investors' profits. Therefore, we balance NAV discount and expense ratio in our rating, as well as funds' intention to actively reduce their discount.

The publically-posted data is a week-old. To access daily-fresh data you may wish to

  • rank (9= a steal, 5=excellent, 3=very good, 1=good) | * % discount off NAV | | * Annual Expense Ratio | | | * Fund Symbol | | | | * Plans to eliminate discount: grade (1-5) and type (Opening, | | | | | share Repurchasing, Tender offer, Liquidation, asset Distribution) | | | | | * date: recent price/NAV | | | | | | * Fund name | | | | | | | * investment policy | | | | | | | | | | | | | | | | * admin fee | | | | | | | | |
  • 5425.48EQS1r2008-04-11:6.94/12.07Equus Total Return, Inc85% equity in leveraged buyouts of mostly private medium-caps3.140
    3130.44ADX1r2008-05-09:12.99/14.95Adams Express CompanyDiversified sound-co sto.306
    2161.07MXF 2008-05-09:34.91/41.34Mexico Fund, IncMexican stocks.875
    2140.59CET 2008-05-09:26.41/30.55Central Securities CorporationStocks; leveraged.348
    2181.77GIFD 2008-05-09:3.93/4.77Global Income Fund, IncGlobal Income Funds.700
    2212.77FXX 2008-05-09:2.49/3.16Foxby CorpGrowth Funds.500
    2141.09GCS 2008-05-09:19.14/22.35DWS Global Commodities Stock Fund, IncSector Equity Funds.900
    2141.07BGR 2008-05-09:35.25/41.07BlackRock Global Energy & Resources TrustSector Equity Funds1..0
    2131.47TDF3r2008-05-09:27.93/32.10Templeton Dragon Fund, IncFgn;Asia-Pac stks;45% Ch1.393
    2130.95BDT 2008-05-09:11.78/13.59BlackRock Strategic Dividend Achievers TrustValue Funds.750
    2131.10SWZ 2008-05-09:15.84/18.31Swiss Helvetia Fund, IncSwiss equity.778
    2131.02JQC 2008-05-09:10.76/12.42Nuveen Multi-Strategy Income & Growth Fund 2Income & Pref Stock Fds.757
    2131.00GF 2008-05-09:16.78/19.37New Germany Fund, IncGermany equity.840
    2130.92DVM 2008-05-09:16.15/18.57Cohen & Steers Dividend Majors Fund, IncReal Estate Funds.805
    2110.54PEO 2008-05-09:42.07/47.49Petroleum & Resources CorporationSector Equity Funds.389
    2131.20BQY 2008-05-09:15.93/18.41BlackRock S&P Quality Rankings Global Equity Managed TrustGlobal Funds.750
    2131.08CHN 2008-05-09:34.79/40.09China Fund, IncChinese secs; non divers.730
    2110.65JPZ 2008-05-09:15.85/17.90Nuveen Equity Premium Income FundOpt Arbitrage/Opt Strat.577
    2100.66TY1r2008-05-09:18.42/20.58Tri-Continental CorporationCore Funds.418
    2141.42MXE 2008-05-09:26.01/30.22Mexico Equity & Income Fund, IncMex: 50% cnv; 50% stks&b.923
    2141.42DCS 2008-05-09:15.57/18.09Dreman/Claymore Dividend & Income FundValue Funds1.2.
    2131.05JPC 2008-05-09:10.66/12.19Nuveen Multi-Strategy Income & Growth FundIncome & Pref Stock Fds.793
    2120.82BDV 2008-05-09:11.54/13.08BlackRock Dividend Achievers TrustValue Funds.650
    2131.26SEL 2008-05-09:9.7/11.17Seligman Select Municipal Fund, IncInsured Muni Leveraged.824
    2120.95JPG 2008-05-09:16.47/18.68Nuveen Equity Premium & Growth FundOpt Arbitrage/Opt Strat.865
    1131.38GDV 2008-05-09:19.23/22.15Gabelli Dividend & Income TrustValue Funds1.247
    1131.29MSD 2008-05-09:9.78/11.20Morgan Stanley Emerging Markets Debt Fund, IncEmerging Mkts Debt Funds1..3
    1121.15ERC 2008-05-09:16.16/18.41Evergreen Multi-Sector Income FundFlexible Income Funds.907
    1121.11GAM 2008-05-09:33.76/38.36General American Investors Company, IncCore Funds.990
    1110.99EVT 2008-05-09:25.41/28.70Eaton Vance Tax-Advantaged Dividend Income FundValue Funds.854
    1110.92WIW 2008-05-09:12.31/13.88Western Asset/Claymore Inflation Linked Opportunities & Income FundGeneral US Govt Funds.633
    1110.78JLA 2008-05-09:16.07/18.01Nuveen Equity Premium Advantage FundOpt Arbitrage/Opt Strat.684
    1110.77NWF 2008-05-09:12.73/14.25Nuveen Insured Florida Tax-Free Advantage Municipal FundFL Muni Debt Funds.477
    1100.57VBF 2008-05-09:17.14/18.98Van Kampen Bond FundCorp Debt BBB Rated Fds.420
    1141.71PDT 2008-05-09:9.5/11.08John Hancock Patriot Premium Dividend Fund IIDiv-pay stks & inv-gr pf1.336
    1111.52HQH2d2008-05-09:15.4/17.39H&Q Healthcare InvestorsHlth svc & med tech stks1.187
    1110.96PCF 2008-05-09:8/8.98Putnam High Income Securities FundConvertible Sec Funds.692
    1110.84MMT 2008-05-09:5.86/6.55MFS Multimarket Income TrustGeneral Bond Funds.704
    1100.98USA1d2008-05-09:6.72/7.48Liberty All-Star Equity FundMulti-mngd; 3 value; 2 g.880
    1100.77FDI 2008-05-09:14.14/15.79Fort Dearborn Income Securities, IncCorp Debt BBB Rated Fds.493
    1100.73MCR 2008-05-09:8.47/9.42MFS Charter Income TrustFlexible Income Funds.612
    1100.64JSN 2008-05-09:16.45/18.22Nuveen Equity Premium Opportunity FundOpt Arbitrage/Opt Strat.565
    1131.53TYW 2008-05-09:12.24/14.04TS&W/Claymore Tax-Advantaged Balanced FundIncome & Pref Stock Fds1..7
    1121.30UTG 2008-05-09:23.15/26.32Reaves Utility Income FundSector Equity Funds1.171
    1121.29RTU 2008-05-09:18.7/21.20Cohen & Steers REIT & Utility Income Fund, IncReal Estate Funds1..5
    1111.18TSI 2008-05-09:3.77/4.27TCW Strategic Income Fund, IncIncome & Pref Stock Fds.616
    1111.13APF 2008-05-09:20.03/22.60Morgan Stanley Asia-Pacific Fund, IncAsia-Pac eqty;0-50% Japa1..6
    1111.10VFL 2008-05-09:12.18/13.73Delaware Investments National Municipal Income FundGeneral Muni Leveraged.626
    1111.10BCV 2008-05-09:18.57/20.95Bancroft Fund LtdConvertible securities.689
    1111.05VAZ 2008-05-09:12.55/14.07Delaware Investments Arizona Municipal Income Fund, IncOther States Muni Debt.628
    1110.97GFY 2008-05-09:15.18/17.02Western Asset Variable Rate Strategic Fund IncGlobal Income Funds.814
    1110.91WIA 2008-05-09:12.28/13.75Western Asset/Claymore Inflation Linked Securities & Income FundGeneral US Govt Funds.439
    1100.87BAF 2008-05-09:13.07/14.58BlackRock Florida Insured Municipal Income TrustFL Muni Debt Funds.543
    1100.72DNY 2008-05-09:18.28/20.20Denali Fund IncReal Estate Funds-.421
    19 0.75MIN 2008-05-09:6.33/6.98MFS Intermediate Income TrustGeneral Bond Funds.639
    18 0.53ASA 2008-05-09:81.46/89.02ASA LimitedSouth African gold stock
    1131.62GGT 2008-05-09:10.78/12.40Gabelli Global Multimedia Trust, IncSector Equity Funds1.232
    1121.50ETF 2008-05-09:23.07/26.29Emerging Markets Telecommunications Fund, Inc65% equity of telecommunications in emerging countries1.151
    1121.27BHD 2008-05-09:11.8/13.37BlackRock Strategic Bond TrustGeneral Bond Funds.626
    1111.28PPM 2008-05-09:12.78/14.44Investment Grade Municipal Income Fund IncGeneral Muni Leveraged.900
    1111.27FTF 2008-05-09:11.78/13.29Franklin Templeton Limited Duration Income TrustCorp Debt BBB Rated Fds1..3
    1111.21FFA 2008-05-09:15.09/16.98First Trust Enhanced Equity Income FundOpt Arbitrage/Opt Strat1..1
    1111.09CVF 2008-05-09:22.17/24.84Castle Convertible Fund, IncConvertible securities.750
    1111.04ETG 2008-05-09:24.41/27.28Eaton Vance Tax-Advantaged Global Dividend Income FundGlobal Funds.872
    1101.13ZF1d2008-05-09:4.79/5.32Zweig Fund, IncCore Funds.915
    1100.82PPT 2008-05-09:6.28/6.95Putnam Premier Income TrustFlexible Income Funds.665
    19 0.78NBH 2008-05-09:13.06/14.40Neuberger Berman Intermediate Municipal Fund IncIntmdt Muni Debt Funds.477
    19 0.69ICB 2008-05-09:15.22/16.66Morgan Stanley Income Securities, IncCorp Debt BBB Rated Fds.500
    1121.47RMR 2008-05-09:11.39/12.96RMR Real Estate FundReal Estate Funds.937
    1121.43RFA 2008-05-09:11.28/12.79BlackRock Florida Investment Quality Municipal TrustFL Muni Debt Funds.685
    1111.54JFC1r2008-05-08:23.41/26.36JF China Region Fund, IncChina region stocks1..6
    1111.40NPY 2008-05-09:12.28/13.87Nuveen Pennsylvania Premium Income Municipal Fund 2PA Muni Debt Funds.940
    1111.23EEA 2008-05-09:10.83/12.15European Equity Fund IncWestern European Funds.892
    1111.16BFO 2008-05-09:12.97/14.52BlackRock Florida Municipal 2020 Term TrustFL Muni Debt Funds.794
    1111.10ECF 2008-05-09:8.02/8.98Ellsworth Fund LtdConvertible securities.700
    1101.31IRL1d2008-05-09:20.29/22.57New Ireland Fund, IncIrish stocks.827
    1101.09RYJ 2008-05-09:16.89/18.83Claymore/Raymond James SB-1 Equity FundCore Funds.877
    1100.99HTD 2008-05-09:16.62/18.42John Hancock Tax-Advantaged Dividend Income FundValue Funds.773
    1100.98MSP 2008-05-09:15.39/17.08Madison Strategic Sector Premium FundOpt Arbitrage/Opt Strat.825
    1100.91NVX 2008-05-09:13.32/14.74Nuveen California Dividend Advantage Municipal Fund 2CA Muni Debt Funds.586
    1111.38NVN 2008-05-09:13.09/14.77Nuveen New York Select Quality Municipal Fund, IncNY Ins Muni Debt Funds.951
    1111.28PMO 2008-05-09:11.12/12.48Putnam Municipal Opportunities TrustGeneral Muni Leveraged.876
    1111.25NFL 2008-05-09:13.25/14.84Nuveen Insured Florida Premium Income Municipal FundFL Muni Debt Funds.935
    1101.14FGF 2008-05-09:16.76/18.67SunAmerica Focused Alpha Growth Fund, IncGrowth Funds1..0
    1101.08MNE 2008-05-09:12.69/14.12BlackRock Muni New York Intermediate Duration Fund, IncIntmdt Muni Debt Funds.589
    1101.08ETW 2008-05-09:16.86/18.69Eaton Vance Tax-Managed Global Buy-Write Opportunities FundOpt Arbitrage/Opt Strat1..0
    1101.07SRO 2008-05-09:13.39/14.86DWS RREEF Real Estate Fund II, IncReal Estate Funds.870
    1101.07IQN 2008-05-09:13.11/14.53Morgan Stanley New York Quality Municipal SecuritiesNY Muni Debt Funds.488
    1101.00NBO 2008-05-09:12.89/14.25Neuberger Berman New York Intermediate Municipal Fund, IncIntmdt Muni Debt Funds.478
    19 1.24FAX1d2008-05-09:6.23/6.86Aberdeen Asia-Pacific Income Fund, IncGlobal Income Funds.819
    19 1.04ETO 2008-05-09:31.85/35.19Eaton Vance Tax-Advantaged Global Dividend Opportunities FundGlobal Funds.867
    19 1.02SBI 2008-05-09:8.78/9.67Western Asset Intermediate Muni Fund IncIntmdt Muni Debt Funds.752
    19 1.01CEE 2008-05-09:54.41/59.94Central Europe & Russia Fund, IncCentral Europe stks;Germ.802
    18 0.80NWI 2008-05-09:12.88/14.06Nuveen Maryland Dividend Advantage Municipal Fund 3Other States Muni Debt.472
    1121.64MSY 2008-05-09:5.63/6.38Morgan Stanley High Yield Fund, IncHigh Yield Fds Leveraged.750
    1121.61SGF 2008-05-09:15.1/17.07Singapore Fund, IncPacific Ex Japan Funds1.3.
    1111.55GLU 2008-05-09:21.09/23.82Gabelli Global Utility & Income TrustSector Equity Funds1..0
    1111.51CNN 2008-05-09:4.92/5.55Prospect Street Income Shares IncGeneral Bond Funds.731
    1111.45IMF 2008-05-09:16.92/19.01Western Asset Inflation Management Fund IncGeneral US Govt Funds.660
    1111.44MZF 2008-05-09:12.2/13.74MBIA Capital/Claymore Managed Duration Investment Grade Municipal FundGeneral Muni Leveraged.746
    1111.42DTF 2008-05-09:13.98/15.71DTF Tax-Free Income, IncGeneral Muni Leveraged.889
    1111.36KEF 2008-05-09:11.18/12.50Korea Equity Fund, IncKorean equity securities.842
    1101.29NUO 2008-05-09:13.92/15.51Nuveen Ohio Quality Income Municipal Fund, IncOther States Muni Debt.936
    1101.14EVG 2008-05-09:15.9/17.64Eaton Vance Short Duration Diversified Income FundGlobal Income Funds.906
    19 1.07MMU 2008-05-09:10.96/12.08Western Asset Managed Municipals Fund IncGeneral Muni Leveraged.802
    19 1.02CMK 2008-05-09:8.15/8.96MFS InterMarket Income Trust I33% each: fixed US Government bonds, foreign governments, high yield.760
    19 0.96NKO 2008-05-09:13.42/14.73Nuveen Insured New York Dividend Advantage Municipal FundNY Ins Muni Debt Funds.535
    18 0.90PIM 2008-05-09:6.29/6.87Putnam Master Intermediate Income TrustFlexible Income Funds.710
    18 0.90NVG 2008-05-09:13.64/14.89Nuveen Insured Dividend Advantage Municipal FundInsured Muni Leveraged.517
    1121.91MGB 2008-05-09:6.92/7.90Morgan Stanley Global Opportunity Bond Fund, IncEmerging Mkts Debt Funds1..6
    1121.78NUF 2008-05-09:12.85/14.56Nuveen Florida Quality Income Municipal FundFL Muni Debt Funds.957
    1111.52MFT 2008-05-09:12.4/13.93BlackRock MuniYield Florida Insured Fund, IncFL Muni Debt Funds.777
    1111.46MFL 2008-05-09:12.42/13.93BlackRock MuniHoldings Florida Insured Fund, IncFL Muni Debt Funds.835
    1101.41IMT 2008-05-09:13.09/14.61Morgan Stanley Insured Municipal TrustInsured Muni Leveraged.522
    1101.40NNF 2008-05-09:13.18/14.71Nuveen Insured New York Premium Income Municipal Fund, IncNY Ins Muni Debt Funds.956
    1101.37NUN 2008-05-09:13.11/14.58Nuveen New York Quality Income Municipal Fund, IncNY Ins Muni Debt Funds.954
    1101.34HYB 2008-05-09:1.68/1.88New America High Income Fund, Incjunk bonds.784
    1101.27NMY 2008-05-09:12.81/14.23Nuveen Maryland Premium Income Municipal FundOther States Muni Debt.945
    1101.25ESD 2008-05-09:18.29/20.31Western Asset Emerging Markets Debt Fund IncEmerging Mkts Debt Funds.894
    1101.24MAY 2008-05-09:10.12/11.23Malaysia Fund, IncPacific Ex Japan Funds1..0
    19 1.26LCM 2008-05-09:15.48/17.10Advent/Claymore Enhanced Growth & Income FundCore Funds1..1
    19 1.19NDD 2008-05-09:17.04/18.79Neuberger Berman Dividend Advantage Fund, IncReal Estate Funds.868
    19 1.16NPP 2008-05-09:13.48/14.83Nuveen Performance Plus Municipal Fund, IncGeneral Muni Leveraged.911
    19 1.13IQT 2008-05-09:12.78/14.07Morgan Stanley Quality Municipal Investment TrustGeneral Muni Leveraged.525
    19 1.11NOX 2008-05-09:10.96/12.01Neuberger Berman Income Opportunity Fund, IncIncome & Pref Stock Fds.842
    18 0.95JEQ 2008-05-09:7.3/7.96Japan Equity Fund, IncPacific Region Funds.529
    1173.07RCG 2008-05-09:5.74/6.90Renaissance Capital Growth & Income Fund III, IncGrowth Funds1.743
    1111.73NQF 2008-05-09:12.8/14.42Nuveen Florida Investment Quality Municipal FundFL Muni Debt Funds.948
    1111.60HQL 2008-05-09:12.33/13.84H&Q Life Sciences InvestorsHealthcare stks; global1.2.
    1111.58LGI 2008-05-09:20.64/23.08Lazard Global Total Return & Income Fund, IncGlobal Funds1.216
    1101.48MNP 2008-05-09:12.87/14.36Western Asset Municipal Partners Fund IncGeneral Muni Leveraged.852
    1101.46MYF 2008-05-09:12.64/14.07BlackRock MuniYield Florida Fund, IncFL Muni Debt Funds.764
    1101.46MSF 2008-05-09:23.75/26.44Morgan Stanley Emerging Markets Fund, IncEmerging market stks & c1.277
    1101.38NMP 2008-05-09:12.95/14.39Nuveen Michigan Premium Income Municipal Fund, IncMI Muni Debt Funds.934
    1101.38NIF 2008-05-09:13.07/14.50Nuveen Premier Insured Municipal Income Fund, IncInsured Muni Leveraged.960
    19 1.38IQI 2008-05-09:12.59/13.91Morgan Stanley Quality Municipal Income TrustGeneral Muni Leveraged.554
    19 1.30NCP 2008-05-09:13.18/14.52Nuveen California Performance Plus Municipal Fund, IncCA Muni Debt Funds.958
    19 1.26NUM 2008-05-09:13.33/14.67Nuveen Michigan Quality Income Municipal Fund, IncMI Muni Debt Funds.954
    19 1.25PIF 2008-05-09:12.79/14.05Insured Municipal Income Fund, IncInsured Muni Leveraged.891
    19 1.25NPG 2008-05-09:12.94/14.26Nuveen Georgia Premium Income Municipal FundOther States Muni Debt.950
    19 1.18FFC 2008-05-09:15.88/17.40Flaherty & Crumrine/Claymore Preferred Securities Income Fund, IncIncome & Pref Stock Fds.735
    19 1.14LAQ 2008-05-09:51.79/56.76Latin America Equity Fund, IncArgentina, Brazil, Chile and Mexico.866
    18 1.11ETB 2008-05-09:16.99/18.54Eaton Vance Tax-Managed Buy-Write Income FundOpt Arbitrage/Opt Strat1..0
    18 1.04IIC 2008-05-09:13.57/14.77Morgan Stanley California Insured Municipal Income TrustCA Ins Muni Debt Funds.490
    1111.74JDD 2008-05-09:13.74/15.44Nuveen Diversified Dividend & Income FundReal Estate Funds.812
    1111.65EIF 2008-05-09:12.57/14.07Eaton Vance Insured Florida Municipal Bond FundFL Muni Debt Funds.622
    1101.49TTF 2008-05-09:12.45/13.84Thai Fund, IncPacific Ex Japan Funds.982
    1101.40NQN 2008-05-09:13.17/14.61Nuveen New York Investment Quality Municipal Fund, IncNY Ins Muni Debt Funds.959
    1101.37MJI 2008-05-09:13.29/14.71BlackRock MuniYield New Jersey Insured Fund, IncNJ Muni Debt Funds.773

    Charts and news about the above funds: Yahoo MSN MarketWatch

    Updated: 2008/05/10 08:07

    Disclaimer: we do not recommend purchase or sale of any particular funds, merely present a compilation and mathematical manipulation of publicly available data; while we try to compile correct data, we cannot guarantee data correctness and are not responsible for its use.

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