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Eaton Vance Risk-Managed Diversified Equity Income Fund of Beneficial Interest
ETJ is a closed-end fund that uses net credit protective collars and stock picking to generate income.
It is trading at an unprecedented over 10% premium and has historically fallen into deep discounts during corrections.
This makes it vulnerable to a large drawdown during a market correction.
ETJ’s expense ratio is also too high for what it does. Its stock picks are easily replicable through their website and the options collar is not worth 1.11% in fees.
Currently, ETJ is not a good investment from a value perspective.