ETF Evaluator: Saba Opportunistically Hdg Clsd-End ETF () Follow This ETF

Saba Opportunistically Hdg Clsd-End ETF Overview

Saba Opportunistically Hdg Clsd-End ETF (CEFS) is an actively managed Alternative Event Driven exchange-traded fund (ETF). SABA ETF launched the ETF in 2017.

The investment seeks to provide capital appreciation and dividend income. 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.

About Saba Opportunistically Hdg Clsd-End ETF (CEFS)

There are 2 members of the management team with an average tenure of 9.62 years: Boaz Weinstein (2017) and Paul Kazarian (2017). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Markit iBoxx Liquid High Yield TR USD index with a weighting of 100%. Saba Opportunistically Hdg Clsd-End ETF has 103 securities in its portfolio. The top 10 holdings constitute 57.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Saba Opportunistically Hdg Clsd-End ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. Saba Opportunistically Hdg Clsd-End ETF has 4.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 48.2% There is 2.3% allocated to foreign stock, and 1.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 7.3% (5.3% domestic bond, 2.1% foreign bond and 1.0% convertible bond). Saba Opportunistically Hdg Clsd-End ETF has 15.7% of the portfolio in cash.

Assets Under Management

The fund has $424 million in total assets, which is above the $121 million average for the Event Driven category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

CEFS Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Saba Opportunistically Hdg Clsd-End ETF expense ratio is high compared to funds in the Event Driven category. Saba Opportunistically Hdg Clsd-End ETF has an expense ratio of 2.61%, which is 92% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Saba Opportunistically Hdg Clsd-End ETF has a portfolio turnover rate of 44%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 327% for the Event Driven category.

Recently, in the month of October 2026, Saba Opportunistically Hdg Clsd-End ETF returned -1.5%, which earned it a grade of F, as the Event Driven category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Saba Opportunistically Hdg Clsd-End ETF has a trailing yield of 6.20%, which is above the 4.39% category average. The fund normally distributes its income monthly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Saba Opportunistically Hdg Clsd-End ETF Grades

Year to date, the ETF has returned 12.4%, 7.4 percentage points better than the category, which translates into a grade of A. The fund has returned 13.9% over the past year (grade of A), 22.6% over the past three years (grade of A) and 12.4% per year over the past five years (grade of A).

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