15 when it was introduced you're down about 1/2 of your initial investment. That to me does NOT appear to be a very good investment even with dividends....Every fund you look at have lost between 40-60% of their value.....Please tell me what good is it for them to give me my own money back each year? Just keep it in your pocket to begin with.....These funds eat you alive with all the crappy fees they charge....Over time you will be at zero...
I bought many thousands of shares in April 09 for about $5.50. Since then I've seen roughly $2.80 in divs and another $2.50 in price appreciation. In that time I've had a few stinkers as well; usually it was because I didn't do my homework or stay on top of the investment. If this one doesn't work for you then just get out, don't bash a fund you don't understand.
Amen. Have sold several major funds at a loss through the years, and am about to dump the Janus fund that I've foolishly held for far too long. Sadly, it looks like I'll soon be dumping this one at a large percentage loss as well.
You are 100% correct. These things only work over the long term if the market increases. They worked great during the 1990's. They can be, however , a great trade. You buy them during a market collapse and hold them for a year or so, collect the divs and then get out of Dodge. Have done this many times with many CEFS.