My Recent ETF Research

[Ben]

Today I decided to research closed-end ETF's that 1) trade at a NAV
discount at least 5 times larger than management fees, and 2) have net
insider buying in the last 12 months. I used two sources:
etfconnect.com and money.msn.com. Information about yield is sometimes
confusing (see SWZ). You can assume there has been insider buying in
2005 unless otherwise noted. Here's my list, in order of biggest NAV
discount:

SWZ: Swiss companies; yields 1-7%. Last insider buy in NOV 04.
BTF: A total return fund. Holds a lot of Buffet stock.
TY: A total return fund; yields 1.2%; low fees.
RTU: Holds REITs and utilities; yields 7%
FVD: Picks stocks rated 1-2 for safety by Value-Line; yields 2-3%
SRO: REITs; yields 7%; last insider buy in NOV 04.
RIT: REITs; yields 6.8%; last insider buy in SEP 04.
ETO: Global tax-advantaged income fund; yields 6%
BIF: Same management as BTF, and also holds a lot of Buffet.
GF: German companies; yields 3%.
GGT: Invests in media & telecommunications; yields 1-2%
FVI: Value-Line based investing; last insider buy in DEC 04.

[Ben]

Updated list (removed boring funds that had no insider buying in 2005).

Today I decided to research closed-end ETF's that 1) trade at a NAV
discount at least 5 times larger than management fees, and 2) have net

insider buying in 2005. I used two sources: etfconnect.com and

money.msn.com. Information about yield is sometimes

contradictory (see FVL). Here's my list, in order of biggest NAV
discount:

BTF: A total return fund with a lot of Buffet stock.

TY: A total return fund; yields 1.2%; low fees.
RTU: Holds REITs and utilities; yields 7%
FVD: Picks stocks rated 1-2 for safety by Value-Line; yields 2-3%

ETO: Global tax-advantaged income fund; yields 6%
BIF: Same management as BTF, and also holds a lot of Buffet.
GF: German companies; yields 3%.
GGT: Invests in media & telecommunications; yields 1-2%

IIA: Real estate; yields 8%
UTF: Utilities; yields 5%
FVL: Stocks rated 1 for timeliness by Value-Line; yields 0-6%
RPF: Real estate; yields 8%
SCD: Total return; yields 6.7%; apparently global.
LAQ: Latin America; yields 1.7%
RNP: Roughly half in REITs; yields 8%
ETF: Emerging markets telecom
EVT: Tax advantaged income
IGR: Global real estate; yields 7.8%
RQI: Real estate; yields 7.7%
**Officially bored with REIT and income funds, screening them out**
GER: Germany
CH: Chile; yields 4-13%
ZF: Total return; yields 10%
CEE: Central Europe & Russia.

Honorable Mentions (interesting or unusual in some way)

SWZ: Swiss companies; yields 1-7%. Last insider buy in NOV 04

FVI: Value-Line based investing; last insider buy in DEC 04.

RENN: No insider buying, and a discount/fee ratio of under 5, but it
shows up in unrelated stock screeners for growth and value; Pink sheets
ISL: Israeli companies; misses the 5:1 ratio by a hair.
SBF: Total return; holds stock like GE and Micorsoft; very low fees;
last insider buy was in SEP 04.

[Ed]

Did you know that:
1. These are not ETF's, they are CEF's.
2. Most of them use leverage.
3. Many have managed distribution plans making the yield info false and the
bookkeeping more difficult.
4. You're going about the discount in a meaningless way.

"Ben" <spam...@hotmail.com> wrote in message
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