ATLASSaba Opportunistically Hedged Closed-End Funds ETF (CEFS): outlook, holdings and fees
Saba Opportunistically Hedged Closed-End Funds ETF (CEFS) is an exchange-traded fund and is managed by SABA ETF. The expense ratio is 5.67% and the yield is 6.48%. The ten largest holdings are 51% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on CEFS
| Last price | $24.20 (+0.8%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 56% |
| Likely 1-month range (50%) | $23.74 – $24.91 |
| Normal 1-day range (±1σ) | ±0.8% |
| Distribution yield | 6.48% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
CEFS fund facts
| Issuer | SABA ETF |
|---|---|
| Theme | Other strategies |
| Assets under management | $432M |
| Expense ratio | 5.67% |
| Number of holdings | 43 |
| Portfolio turnover | 42% |
| Inception | Mar 20, 2017 |
| Exchange | CBOE |
The fund is an actively managed exchange-traded fund that seeks to achieve its investment objective by normally investing at least 80% of its net assets, (a) in securities issued by closed-end funds or derivatives that provide investment exposure to closed-end funds either directly or indirectly and (b) opportunistically in long and/or short positions of (i) single name or basket securities or instruments seeking to hedge market exposure and/or (ii) derivatives instruments seeking to hedge market exposure.
CEFS top holdings
| Holding | Sector | Weight |
|---|---|---|
| BlackRock Science and Technology Term Trust BSTZ | Financial Services | 11.98% |
| ASA Gold and Precious Metals Ltd ASA | Financial Services | 8.36% |
| Virtus Dividend Interest & Premium Strategy Fund NFJ | Financial Services | 7.30% |
| Royce Micro Cap Closed Fund RMT | Financial Services | 3.91% |
| BlackRock ESG Capital Allocation Trust ECAT | Financial Services | 3.75% |
| Gabelli Dividend & Income Closed Fund GDV | Financial Services | 3.37% |
| General American Investors Closed Fund GAM | Financial Services | 3.36% |
| Neuberger Berman Next Generation Connectivity Fund Inc NBXG | Financial Services | 3.23% |
| PIMCO Energy & Tactical Credit Opps PDX | Financial Services | 3.06% |
| Blackrock Innovation & Growth Trust BIGZ | Financial Services | 2.86% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
CEFS sector breakdown
| Sector | Weight |
|---|---|
| Financial Services | 54.4% |
| Technology | 14.4% |
| Energy | 8.5% |
| Industrials | 6.5% |
| Utilities | 3.8% |
| Healthcare | 3.1% |
| Consumer Cyclicals | 2.9% |
| Communication Services | 2.9% |
| Basic Materials | 1.3% |
| Consumer Defensive | 1.3% |
| Real Estate | 0.9% |
By region: North America 90.3%, Europe Developed 2.7%, United Kingdom 2.5%, Asia Developed 2.1%, Asia Emerging 1.2%.
CEFS returns and risk
| Year to date | +12.6% |
|---|---|
| 1 year | +15.6% |
| 3 years (annualised) | +22.2% |
| 5 years (annualised) | +13.1% |
| 10 years (annualised) | 0.0% |
| Volatility (3 years) | 10.8% |
| Sharpe ratio (3 years) | 1.35 |
Past returns do not guarantee future results.
CEFS: frequently asked questions
What does CEFS invest in?
Saba Opportunistically Hedged Closed-End Funds ETF invests in a portfolio of securities. Its largest holdings are BlackRock Science and Technology Term Trust (12.0%), ASA Gold and Precious Metals Ltd (8.4%), Virtus Dividend Interest & Premium Strategy Fund (7.3%), Royce Micro Cap Closed Fund (3.9%), BlackRock ESG Capital Allocation Trust (3.7%).
What is the CEFS expense ratio?
5.67% a year: about $567.00 for every $10,000 invested.
What is the CEFS dividend yield?
6.48%. ATLAS does not hold the exact distribution dates for ETFs.
Will CEFS go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 56%, with a likely range (50%) of $23.74 to $24.91 from $24.20 today. It is a probability, not a prediction.
How has CEFS performed?
Year to date +12.6%, one year +15.6%, three years +22.2% a year, five years +13.1% a year. Past returns do not guarantee future results.
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Educational information, not investment advice. Disclaimer