pining4Lenore,

Thanks for the comments (warnings). It is the quarterly and monthly dividant payments that brought me look at CEFs. And you are right about CEFs paying out capital making the yield higher. Most of them are also leveraged to induce higher yield (but these leverage could be a good thing in certain market conditions; definately not right now).

Initially, I was only looking at debt CFEs. But I got interested in SOR, FUND and RVT. All of them have done well over many years, have great mangers in fund families I know well and pay a quarterly dividant. I just wish that there are M* style report that rank CEFs fairly making it easier to discover the good ones (consistant ones). What do you think about them as a small part of a long term fixed income portfolio?

Chamois,

The Facebook data is very interesting.  Why do you think household with bigger assets own CEFs? Becasue they have more money to diversify into niche areas?  I wonder.

BTW, do you know any other CEFs similar to the ones I mentioned above?