EXD - EXD Strategy Change May Generate 10% Alpha
The Eaton Vance Tax-Advantaged Bond Options Strategy Fund (EXD) was a fairly small covered call closed-end fund with about $100 Million in assets under management. The fund performed fairly well in some time periods, but there were other periods where its performance was very poor when the "iron condor" strategy suffered big losses.
(Data below is sourced from the Eaton Vance website unless otherwise stated.)
After 8 years of mediocre performance overall, the Board of Trustees decided to completely overhaul the fund. In many ways it is like a new IPO, except you