- ISIN
- US30151E8066
- CUSIP
- 30151E806
- Issuer
- Exchange Traded Concepts
- Inception Date
- Mar 21, 2017
- Region
- Global (Broad)
- Category
- Event Driven, Actively Managed
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $333M
Share Price Chart
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Performance
CEFS Performance Chart
Saba Closed-End Funds ETF (CEFS) is up 15.1% since the beginning of the year. CEFS is currently trading at $26 per share. Investors who bought $1,000 worth of CEFS shares 5 years ago would now be looking at an investment worth $1,954.
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Returns By Period
Saba Closed-End Funds ETF (CEFS) has returned 15.10% so far this year and 27.46% over the past 12 months.
Saba Closed-End Funds ETF
- 1D
- 1.28%
- 1M
- 3.56%
- YTD
- 15.10%
- 6M
- 16.40%
- 1Y
- 27.46%
- 3Y*
- 21.25%
- 5Y*
- 14.34%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.34%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
CEFS Monthly Returns History
Based on dividend-adjusted daily data since Jun 13, 2017, CEFS's average daily return is +0.05%, while the average monthly return is +1.05%. At this rate, an investment would double in approximately 5.5 years.
Historically, 66% of months were positive and 34% were negative. The best month was Nov 2023 with a return of +11.5%, while the worst month was Mar 2020 at -21.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, CEFS closed higher 56% of trading days. The best single day was Mar 20, 2020 with a return of +6.6%, while the worst single day was Mar 18, 2020 at -17.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.30% | 1.43% | -2.99% | 9.27% | 4.62% | 1.00% | 15.10% | ||||||
| 2025 | 4.44% | -1.22% | -1.61% | -0.77% | 4.59% | 2.43% | 1.17% | 1.21% | 1.87% | 0.75% | 0.41% | 2.46% | 16.67% |
| 2024 | 1.54% | 3.76% | 5.65% | -3.60% | 5.12% | 3.74% | 1.55% | 2.24% | 2.62% | -1.81% | 4.11% | -3.11% | 23.48% |
| 2023 | 9.96% | -2.73% | 1.26% | -0.42% | -1.26% | 5.17% | 3.80% | -2.09% | -4.41% | -3.64% | 11.46% | 3.54% | 20.99% |
| 2022 | -1.18% | -1.36% | -0.21% | -4.24% | 0.62% | -7.18% | 7.45% | 1.90% | -9.49% | 4.29% | 8.10% | -4.41% | -7.08% |
| 2021 | 2.68% | 2.18% | 3.92% | 2.00% | 0.65% | 1.45% | -0.20% | 1.57% | 0.61% | 1.74% | -1.24% | 1.30% | 17.86% |
Benchmark Metrics
Saba Closed-End Funds ETF has an annualized alpha of 5.46%, beta of 0.53, and R2 of 0.42 versus S&P 500 Index. Calculated based on daily prices since June 13, 2017.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (72.03%) than losses (69.04%) - typical of diversified or defensive assets.
- Beta of 0.53 may look defensive, but with R2 of 0.42 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.42 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 5.46%
- Beta
- 0.53
- R²
- 0.42
- Upside Capture
- 72.03%
- Downside Capture
- 69.04%
Expense Ratio
CEFS has a high expense ratio of 2.61%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CEFS ranks 84 for risk / return — in the top 84% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Saba Closed-End Funds ETF (CEFS) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CEFS | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.35 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.57 | 2.66 | +1.91 |
| Martin ratioReturn relative to average drawdown | 17.55 | 11.86 | +5.69 |
Dividends
Dividend History
Saba Closed-End Funds ETF provided a 7.01% dividend yield over the last twelve months, with an annual payout of $1.81 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.81 | $1.81 | $1.88 | $1.75 | $1.95 | $2.22 | $1.68 | $1.68 | $1.83 | $1.07 |
Dividend yield | 7.01% | 7.84% | 8.79% | 9.20% | 11.32% | 10.73% | 8.61% | 8.10% | 10.43% | 5.02% |
Monthly Dividends
The table displays the monthly dividend distributions for Saba Closed-End Funds ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.00 | $0.70 | ||||||
| 2025 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.27 | $1.81 |
| 2024 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.34 | $1.88 |
| 2023 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.21 | $1.75 |
| 2022 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.41 | $1.95 |
| 2021 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 | $0.68 | $2.22 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Saba Closed-End Funds ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Saba Closed-End Funds ETF was 38.99%, occurring on Mar 23, 2020. Recovery took 170 trading sessions.
The current Saba Closed-End Funds ETF drawdown is 0.09%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -38.99%Mar 2020 | 1mo 1d | 8mo 2d | 9mo 3dFeb 2020 - Nov 2020 |
Bear market2022 | -16.85%Jun 2022 | 7mo 8d | 7mo 14d | 1y 2moNov 2021 - Feb 2023 |
Rate-hike selloffLate 2018 | -16.66%Dec 2018 | 10mo 29d | 2mo 3d | 1y 27dJan 2018 - Feb 2019 |
2025 selloff2025 | -13.37%Apr 2025 | 1mo 17d | 1mo 28d | 3mo 15dFeb 2025 - Jun 2025 |
2023 correction2023 | -11.04%Oct 2023 | 2mo 26d | 1mo 4d | 4moAug 2023 - Nov 2023 |
Drawdown Indicators
| CEFS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.99% | -56.78% | +17.79% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -9.10% | +3.43% |
Max Drawdown (3Y)Largest decline over 3 years | -13.37% | -18.90% | +5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -16.85% | -25.43% | +8.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.09% | -2.49% | +2.40% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -10.72% | +7.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.48% | 2.03% | -0.55% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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