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HIE - HIE: Sky-High Expenses For Just Dividend Stocks
Miller/Howard High Income Equity Fund of Beneficial Interest
The Miller/Howard High Income Equity Fund (HIE) is a closed end fund focused on investing in high dividend stocks around the globe. Despite a high distribution rate, total fund returns have been underwhelming. Additionally, extremely high annual expenses mean investors are paying dearly for very little in the way of performance.
Fund Investors Haven’t Been Rewarded
Since inception the fund has underperformed the S&P 500 substantially despite being composed primarily of US equities.
(Graphic: Morningstar.com)
The fund does pay distributions of around 13% to 13.5% (depending on whether you use the NAV or