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Post by chang on Nov 7, 2021 5:52:07 GMT
After many years out, decided to stick my toe back into the muni CEF waters to keep life interesting. At one time I owned six; I sold the last one some years ago.
I reviewed some of the ones I used to own, including MHI/MAV, KTF, PMF/PML/PMX, VGM (a capecod favorite), a BlackRock fund I can't remember, and NEV/NMZ …… and NMZ is looking like the best candidate.
If there's a better one that I've missed, please shout it out.
My requirements are a discount (and preferably a negative Z-factor), good LT performance, and healthy liquidity!
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Post by chang on Nov 7, 2021 9:00:44 GMT
I just remembered the ticker of a fine Blackrock CEF I owned before - MEN. I believe it was a tip from akhalea. It served me very well. And now I cannot find the ticker symbol! Did BR merge this with another fund, does anyone know? |
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sk07
Ensign
Posts: 2
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Post by sk07 on Nov 7, 2021 12:03:51 GMT
Merged with MQY on April 19,2021
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Post by chang on Nov 7, 2021 12:13:56 GMT
sk07 Thanks, great information.
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Post by yogibearbull on Nov 7, 2021 12:45:29 GMT
Nuveen HY muni CEF NMZ (leveraged) and OEF NHMAX (unleveraged) have the same manager (John Miller) and the same style. These can be treated as trading pair depending in one's view of HY muni. So, one can have them in different amounts at different times. Unfortunately, NHMAX is now closed to new investors (soft close); it is also the biggest HY muni OEF. stockcharts.com/h-perf/ui?s=NMZ&compare=NHMAX&id=p22201075048NVG is AMT-free but has a different manager. |
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Post by Chahta on Nov 7, 2021 12:45:47 GMT
I am curious about the advantage of a muni CEF, like VGM, over an OEF, like NHMAX? The yields are the same and the volatility is far less for the OEF. yogibearbull , I purchased NHMAX earlier this month at Schwab. Also, how would one trade using both NMZ and NHMAX together? |
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Post by yogibearbull on Nov 7, 2021 12:50:52 GMT
Chahta, I added the charts for NMZ and NHMAX. One can trade between them if one has a system to trade.
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Post by richardsok on Nov 7, 2021 13:43:21 GMT
Have no comment on the CEFs mentioned above, but would mention that PMX and PMF have been out-earning their distributions this year, with approx 110% coverage.
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Post by rhythmmethod on Nov 7, 2021 15:26:33 GMT
Slightly OT, but I’m was pondering the same. I think I will roll most of PHMIX into VWALX and use some for taxable FI CEF stable I’m building. The small yield increase of the muni CEFS doesn’t seem worth the trouble…only to me. If I had chang port I would probably feel different. JMO. |
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Post by steelpony10 on Nov 7, 2021 17:23:14 GMT
rhythmmethod , I’m thinking the same thing more volatility for a slight income increase isn’t worth it. Because bonds can provide negative or near negative returns at times like these, I am considering sometime in the future some combo of VWAHX on reinvestment and BME for income to help pay for a second and last residence near the kids and grands. I’m going to start to move closer to my bracket top probably using lower yielding taxable CEF’s.
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Post by chang on Nov 7, 2021 21:02:29 GMT
Slightly OT, but I’m was pondering the same. I think I will roll most of PHMIX into VWALX and use some for taxable FI CEF stable I’m building. The small yield increase of the muni CEFS doesn’t seem worth the trouble…only to me. If I had chang port I would probably feel different. JMO. Anything about PHMIX bothering you, or is this just a preemptive, risk-lowering move? I was leafing through MFO and noticed that PHMIX still gets a G.O. from them. |
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Post by rhythmmethod on Nov 7, 2021 23:36:54 GMT
Slightly OT, but I’m was pondering the same. I think I will roll most of PHMIX into VWALX and use some for taxable FI CEF stable I’m building. The small yield increase of the muni CEFS doesn’t seem worth the trouble…only to me. If I had chang port I would probably feel different. JMO. , risk-lowering move? I was leafing through MFO and noticed that PHMIX still gets a G.O. from them. No, nothing at all. Attempting to be more committed to the funds I own, and evaluate why, exactly, do I own them. OT, but I'm building % in my balanced, asset - allocation funds as a larger part of my core, thus being more selective in my explore portion. If I'm going to take the little extra risk/reward of PHMIX vs VWALX, I'd rather consolidate it and then take a larger (yield) risk with a smaller % in CEF. My thinking as of now... |
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