Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV)
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ETV Forum Topics
- All Comments on ETV
- General Discussion on ETV
- Why ETFs Will Overtake Traditional Mutual Funds [view article]
- Can Eaton Vance's Tax-Advantaged Dividend Fund Sustain Its Yield? [view article]
- No Free Lunch with Covered Call CEFs [view article]
- Van Kampen Offers an Alternative to Closed-End Covered Call Funds [view article]
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Why ETFs Will Overtake Traditional Mutual Funds [view article]
Discussing ETF's versus mutual funds without describing their distinct functions and advantages is like talking about satellite radio as though it were just radio. Mutual funds originally gave the buyer diversification and simplification of some tax situations, but nowadays most funds are so large that even the themed funds function like just a market index. ETF's allow the buyer to drill down more specifically into certain commodities or to execute short positions with less risk, nice options for the retail buyer. While major pension funds will likely play footsie with big mutual funds for a long time to come, the tide can't be held back forever. There are too many mutual funds today and they're all becoming homogenous index funds, giving the buyer little reason to choose between them and a stronger desire to master one's own fate by buying commodities when they seem cheap or shorting things that seem ready to fall... ReplyWhy ETFs Will Overtake Traditional Mutual Funds [view article]
Of the almost 800 ETF funds in existence on July 31, 2008 only 209 had more than $300 million in assets, the level generally thought to be breakeven for a managed fund. Almost 300 of the funds had less than $28 million in assets.There is certainly a place for ETFs in the investment universe but I think it is a niche product that has grown too fast and is due for retrenchment. Reply
Why ETFs Will Overtake Traditional Mutual Funds [view article]
In my book it's ETF's and Notes for two big reasons...expenses and trading anytime during the day. ReplyWhy ETFs Will Overtake Traditional Mutual Funds [view article]
Well, low expense ratio is really the key factor. While I am locked in by mutual funds (tax considerations if sod), I am putting new funds into ETFs. ReplyWhy ETFs Will Overtake Traditional Mutual Funds [view article]
I agree with everything said, but one must be careful of saying (as so many people parrot) that ETFs are low-cost. Many ETFs have expense ratios in excess of .6%, even up to 1%. And many mutual funds, finally wising up, are finally lowering costs, with many below 1%. Vanguard, of course, is best in both categories. It seems to me that mutual funds are best for investors, while ETFs are best for traders. ReplyWhy ETFs Will Overtake Traditional Mutual Funds [view article]
We're big on ETFs at Contrarian Profits, and think that commodities based ETFs are particularly attractive...www.contrarianprofits.... Reply
Can Eaton Vance's Tax-Advantaged Dividend Fund Sustain Its Yield? [view article]
EVT is dividend capture fund and ETV (intechange the letters!) is a buy-write fund which offers high dividend (11%+ currently) primarily thanks to call writing income. ReplyCan Eaton Vance's Tax-Advantaged Dividend Fund Sustain Its Yield? [view article]
Have been looking at open ended Eadix.Much higher rate of income growth per share, and w/no leverage whatsoever:
finance.yahoo.com/q/hp... Reply
Can Eaton Vance's Tax-Advantaged Dividend Fund Sustain Its Yield? [view article]
Correction to the above. The distributions are from investment income, not ROC or capital gains. ReplyCan Eaton Vance's Tax-Advantaged Dividend Fund Sustain Its Yield? [view article]
Lots of bad info here. EVT is a dividend capture fund, the additional dividends providing the extra yield. It doesn't do options. It is a levered fund along with its cohorts ETG and ETO which just switched to bankd debt from APS. There is no reason tp believe that this will cost significantly more than default APS rates resulting from failed auctions. Many CEF use debt rather than preferred shares, even before the APS problem. EVT distributions to date are entirely from earned invested income and are 15% qdiThe original poster apparently missed the capture strategy and subsequent posters have confused EVT with other funds Reply
Can Eaton Vance's Tax-Advantaged Dividend Fund Sustain Its Yield? [view article]
You have to love dividend and debt funds that use debt to increase yields. Why not have a fund that buys leveraged debt funds, and uses debt to leverage even more? Then a fund that buys these funds and... People wonder why we have a debt crisis.In fact the basic premise of the WSJ column was that people don't save and have too much debt. So they should save by, drum roll, buying a fund that creates even more debt. Reply
Can Eaton Vance's Tax-Advantaged Dividend Fund Sustain Its Yield? [view article]
From Page 2 of the Annual Report of this fund:"As of August 31, 2007, the Fund's $700 million
issued and outstanding Auction Preferred Shares
(APS) equaled approximately 24% of total assets and
maintained a weighted average reset period of 21
days, which is comparable to what it was when the
Fund's leverage was originally issued. Use of financial
leverage creates an opportunity for increased capital
appreciation and income but, at the same time, creates
special risks (including the likelihood of greater
volatility of net asset value and market price of the
common shares). In the event of a rise in long-term
interest rates, the value of the Fund's portfolio could
decline, which would reduce the asset coverage for
its APS."
I dont find anything on the covered call strategy in the report. Rather, they use a approach called dividend capture strategy - which is basically trading to capture dividends. Reply
Can Eaton Vance's Tax-Advantaged Dividend Fund Sustain Its Yield? [view article]
This is poorly researched and factually incorrect on more than one point. First off, this fund is not leveraged, and does not employ the use of leverage or "auction rate securities".Second, this would not be the only way the fund can sustain such a high dividend. This fund is a covered-call strategy fund, which simply means that the fund managers sell covered calls against a portion of the funds assets, collecting the premium. This premium income, along with dividends paid by stocks in the fund sustain the dividend.
Please do some homework before you post things like this, as the misinformation and misunderstanding does not help an already complex world of investment choices. Reply
Editors
General Discussion on ETV
Is this a buy or a sell? ReplyNo Free Lunch with Covered Call CEFs [view article]
Your comment has made the MOST sense too me. I agree with you. You just saved me a lot of money. Reply