Looking for some defense in this topsy turvy market? Not a bad idea, given the daily gyrations we've seen over the past several weeks. One fund has a taxable 6.46% yield, the other has a tax free 4.63% yield, which equals from 5%-plus to 7%-plus, depending on your tax bracket. They've both outperformed the market in all three pullbacks over the past year, month, quarter, and year to date. They're both still selling at a discount.
These two closed-end funds have different asset bases, but they have a few things in common - in addition to having attractive yields, they've both outperformed the market in the most recent pullbacks, and they still sell at discounts, albeit not as substantial as their previous discounts earlier in 2019. Principal Real Estate Income Fund (PGZ) has a portfolio comprised of ~65% CMBS, mortgage-backed securities, in addition to holding ~19% in non-US real estate securities. Nuveen AMT-Free Municipal Credit Income Fund (NVG) invests in municipal securities that are exempt from regular federal income taxes.
Source: Seeking Alpha
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