XYLD - EOI: Strong Historical Performance But High Fees And Small Discount To NAV
2024-02-02 08:28:52 ET
Summary
- The Eaton Vance Enhanced Equity Income Fund focuses on providing current income and capital appreciation.
- EOI has underperformed the S&P 500 on an absolute basis but has outperformed on a risk-adjusted basis.
- EOI has a high expense ratio which represents a key headwind.
- The fund trades at a modest discount to NAV which is less than the fund's average historical discount to NAV.
- I am initiating EOI with a Hold rating.
The Eaton Vance Enhanced Equity Income Fund (EOI) is a closed-end fund ("CEF") which is focused on providing shareholders with current income. The fund's secondary objective is capital appreciation....
EOI: Strong Historical Performance But High Fees And Small Discount To NAV