EVG - EVG - 'Rob Peter To Pay Paul'

• EVG is a fundamentally sound fund with a good credit and interest risk profile.
• Good track record with a robust 0.44 Sharpe ratio and very short duration (1.4 yrs).
• Unsupported 9.61% yield from a portfolio that has a 5.73% weighted average coupon.
• The difference comes from the NAV (average NAV loss of 2.5% over the past 10 years).
• The fund recently raised its dividend - a good move for existing shareholders but bad one for any new investors contemplating the fund.

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