As many of my readers know, I'm not a huge fan of most things equity, including equity CEFs. In my mind, you just don't get much of a value-add from an equity CEF compared to an open-end mutual fund or exchange-traded fund.
Even for those that are highly risk-averse, an allocation to option-income equity CEFs should be considered as part of a high income portfolio. These CEFs generate income by selling (writing) options that produce "premium" in addition to the dividend income from the underlying stock positions. An option-income CEF tends to hold either individual