YTD Top Performer Taxable Bond Closed End Funds up to July 8th, 2012

The year-to-date top performer taxable bond closed end funds (CEFs) up to July 8th, 2012 are PIMCO High Income, Nuveen Mortgage Opportunity Term, Helios High Income, etc.

Top Performer CEFs

These best performing taxable bond CEFs are sorted based on its YTD performance up to July 8th, 2012. Most of these top performers are high yield bond, mortgage bond, bank loan, and general bond. You can find the fund review below.

YTD Top Performer Taxable Bond Closed End Funds up to July 8th, 2012 are
  1. PIMCO High Income (PHK)
  2. Nuveen Mortgage Opportunity Term 2 (JMT)
  3. Nuveen Mortgage Opportunity Term (JLS)
  4. First Trust High Income Long/Short (FSD)
  5. Helios High Income (HIH)
  6. PIMCO Income Strategy II (PFN)
  7. PIMCO Income Strategy (PFL)
  8. Nuveen Credit Strategy Income (JQC)
  9. Western Asset Mortgage Defined Opportunity (DMO)
  10. Western Asset High Yield Defined Opportunity (HYI)
updated on 7/8/2012

Top Performer Taxable Bond Closed End Funds 2012 logo

1. PIMCO High Income (Ticker: PHK)

The PIMCO High Income fund objective is to provide high current income with capital growth. It utilizes its assets to purchase a portfolio of corporate bonds and income producing securities. Managed by Bill Gross since 2009, it has total net assets of $1.3 billion. The total distribution rate is 10.62%.

As of July 8th, the year to date return is 26.15%. This high yield bond CEF is ranked with 3 star and neutral rating. The average duration of this fund is 6.41 years and the average maturity is 17.24 years.

2. Nuveen Mortgage Opportunity Term 2 (Ticker: JMT)

Nuveen Mortgage Opportunity Term 2 fund invests mainly in mortgage-backed securities (MBS). The annual expense ratio is 1.58% per year. Michael F Garrett is the fund manager. The fund market price is trading 4.17% premium to NAV.

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As of June 2012, the portfolio turnover rate is 35%. The average bond price is $64.23. The 1-year average return is 11.78%. The top 4 sectors are non-Agency RMBS Prime (33.48%), non-Agency RMBS Alt A (32.06%), Non-Agency RMBS Subprime (8.31%), and CMBS AM (8.14%).

4. First Trust High Income Long/Short (FSD)

The investment aim of First Trust High Income Long/Short fund is to achieve current income with capital appreciation. The total net assets are $840 million. Its expense ratio is 2.10%. The current yield is 8.91%.

As of February 2012, the top 4 sectors of this top performer fund are USA, UK, Netherlands, and Canada. The top 5 sectors of this mortgage bond fund are services, basic industry, energy, financial services, and insurance. The YTD return is 23.1%.

5. Helios High Income (Ticker: HIH)

This Helios High Income fund uses majority of its assets to buy non-investment grade bond with distressed securities. It has $58 million of total assets. Brookfield Investment Management Inc is the fund sponsor. Its total expense ratio is 2.70% per year. The average coupon is 8.30%.

One of its 1 year worst total returns was occurred in 2008 with -73.42%. This high yield bond fund has a 3-year average return of 26.25%. The top 3 holdings are Us West Comms 6.875% 6.88 15 Sep 2033, United States Stl 7% 7.00 01 Feb 2018, and Citizens Comms 7.125% 7.13 15 Mar 2019.

6. PIMCO Income Strategy II (PFN)

The PIMCO Income Strategy II fund objective is to provide high current income and capital preservation. This PIMCO fund is managed by Bill Gross as well. The fund sponsor is Allianz Global Investors Fund Management LLC. This multisector bond fund has a yield of 9.07%. This dividend is paid monthly.

Best Preferred Stock Closed End Funds of 2012

As of May 2012, the top 5 sectors are long duration corporation bond (55.52%), municipal bond (17.48%), mortgage backed securities (10.93%), preferred shares (6.05%), and convertible preferred (3.58%). This top performer bond fund has returned 28.04% over the past 3 year, and -0.44% over the past 5 year.

Disclosure: No Position

Fund Information

NoFund Description (Ticker)CategoryYTD ReturnLeveraged AssetExpense ratioYield
1PIMCO High Income (PHK)High Curr Yld Lvgd26.15%22.76%1.16%10.81%
2Nuveen Mtge Oppty Term 2 (JMT)US Mortgage25.61%--1.58%8.48%
3Nuveen Mtge Oppty Term (JLS)US Mortgage25.47%17.59%1.44%8.51%
4First Tr Hi Inc Lng/Shrt (FSD)High Current Yield23.10%--2.09%9.08%
5Helios High Income (HIH)High Curr Yld Lvgd22.21%30.14%2.70%8.08%
6PIMCO Income Strategy II (PFN)General Bond20.77%26.17%1.24%7.72%
7PIMCO Income Strategy (PFL)General Bond20.71%32.59%1.51%9.13%
8Nuveen Credit Strat Inc (JQC)Loan Participation20.31%23.65%1.65%8.82%
9Westn Asst Mtge Def Opp (DMO)US Mortgage20.04%36.97%2.24%8.94%
10Western Asset Hi Yld D O (HYI)High Current Yield19.87%--0.91%9.39%
11Helios Advantage Income (HAV)High Curr Yld Lvgd19.59%28.66%2.48%8.26%
12BlackRock HI Yld Trust (BHY)High Curr Yld Lvgd18.57%14.15%2.04%6.84%
13StoneHarbor Emg Mkts Inc (EDF)Emerging Mkts Debt18.42%17.76%1.76%9.33%
14Apollo Senior Float Rate (AFT)Loan Participation18.06%29.63%2.88%7.36%
15MFS Special Value Trust (MFV)High Current Yield17.71%--1.39%9.64%


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