ETW: Tax-Efficient Dividends With A Few Caveats

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund remains a Hold due to inconsistent dividends and long-term underperformance vs. peers. ETW offers an 8.9% yield, attractive global diversification, and trades at a 10% discount to NAV but faces persistent NAV erosion. The fund's at-the-money option strategy limits upside, resulting in lagging total returns compared to Eaton Vance's US-focused ETV.

Seeking Alpha • Nov 19, 2025

4 Closed-End Fund Buys (And 1 Sell) In The Month Of September 2025

September was another strong month for equity indexes despite it historically being a weaker month, meaning we were able to buck that seasonality trend. The Fed cut 25 basis points last month and is expected to cut more going forward, which could help to keep optimism and momentum in equities. Pushing into all-time highs, I tend to allow cash to build up for the next downturn, but I still add every month regardless to help build up my cash flow.

Seeking Alpha • Oct 14, 2025

2 Call Writing Funds Providing Monthly Distributions For Passive Income

Call writing closed-end funds can offer attractive monthly distributions, along with the opportunity to trade at discounts to their historical net asset values. That discount can create an opportunity for investors to enter at attractive prices while getting the underlying portfolio on 'sale.' Today, we are looking at two CEFs that provide monthly distributions and are presenting relatively attractive discounts.

Seeking Alpha • Sep 14, 2025

ETW: Attractive Valuation But Disappointing NAV Health

ETW offers global equity exposure and a high 8.8% yield, but its option-writing strategy limits capital appreciation potential. The fund currently trades at a favorable discount to NAV, yet persistent NAV erosion and declining distributions are concerning. ETW's income is tax-efficient, with most distributions classified as return of capital or long-term gains, benefiting income-focused investors.

Seeking Alpha • Sep 5, 2025

2 Call Writing Funds Delivering Steady Monthly Income With Different Strategies

Closed-end funds (CEFs) that write call options can offer attractive monthly distributions to their investors. Thanks to discounts for CEFs, these distributions can be 'boosted' when compared to what the actual underlying NAV distribution rate becomes. Writing calls can take the form of writing against individual holdings or indexes.

Seeking Alpha • Aug 4, 2025

ETW: Tax Efficiency Without The Safety Net

ETW offers steady high yields and NAV protection with tax-efficient payouts, a good option for income-focused investors seeking global diversification. Active stock selection and index option writing provide potential for alpha, but historical performance shows underwhelming results versus broad market indices like SPY. Drawdown and volatility reduction benefits are limited, with ETW failing to deliver meaningful downside protection or outperformance in flat or down markets.

Seeking Alpha • Jun 24, 2025

ETW: Call Writing Strategy With A Global Tilt

ETW offers a portfolio with a tilt of global exposure along with implementing a call-writing strategy, generating 'income' through premiums. The fund's discount to NAV and overall equity market correction make it an interesting choice to consider putting some capital to work in this fund. ETW's monthly distribution yield of 10.23% will require capital gains to fund, but that can come from the underlying portfolio investments and/or its option writing strategy.

Seeking Alpha • Apr 19, 2025

ETW: Collecting A Global Income Stream But With A Caveat

ETW offers a high dividend yield of 9.2% and monthly distributions, but its option strategy limits upside price appreciation, making it suitable for income-focused investors. The fund's global exposure and tax-efficient distributions are appealing, but reliance on net realized gains makes it vulnerable to market downturns and inconsistent dividend payments. ETW trades at an 8.93% discount to NAV, which can be beneficial for long-term holders, but its performance lags behind major indexes like the S&P 500.

Seeking Alpha • Feb 20, 2025

ETW: Maintain Your Equity Exposure And Earn An Attractive Yield

The Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund offers a high 9.27% yield, better than most equity and fixed-income indices, making it attractive for income-focused investors. The fund's strategy involves writing index options on U.S. and international equities, providing inflation protection and income, though it carries some risk from naked options. Despite underperforming major indices in share price, ETW's total return, including distributions, is competitive, appealing to those prioritizing income over capital appreciation.

Seeking Alpha • Dec 16, 2024

ETW: Attractive ~9.2% Distribution Yield And Discounted

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund offers a diversified portfolio with the addition of some global exposure as well. ETW trades at an attractive discount on both an absolute and relative basis, making it an interesting choice for investors wanting exposure to a call writing fund. The fund offers investors a monthly distribution, beneficial for income-seeking investors—but even better, it generally comes with more tax-favorable characterizations.

Seeking Alpha • Oct 1, 2024