Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (ETO)

Eaton Vance's top taxable closed-end funds offer attractive yields, discounts to NAV, and strong long-term returns, making them appealing for income-focused investors. Current market volatility has widened discounts to NAV, creating buying opportunities which I highlight in the article. I prioritize funds trading at an 8%+ yield and significant NAV discounts, with a preference for those using tax-advantaged strategies and diversified asset mixes.

The Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund is a global equities CEF, leaning toward U.S. equities. ETO sports a strong 7.3% distribution yield. Capital gains are generally positive, and NAVs have grown since inception. It generally trades close to NAV, currently with a 8.0% discount to NAV. This seems like a good buying opportunity.

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund remains a buy due to its attractive 9% discount to NAV and resilient income strategy. ETO offers a 7.4% monthly dividend yield, strong payout consistency, and exposure to high-quality global equities like MSFT, NVDA, and AAPL. While ETO underperforms traditional ETFs like SPY in long-term capital appreciation, it excels as a stable, income-focused fund for retirees and income investors.

I rate ETO a Buy for income-focused, long-term investors due to its 7.64% yield, monthly distributions, and global diversification. The fund trades at a -7.53% discount to NAV, offers tax-advantaged dividends, and has a strong 10-year total return of 165%. ETO outperforms peer funds on total return, but investors should consider stock market risk and leverage before investing.

Caring about dividends can increase our returns, but caring about NAV can save our portfolio. Return and NAV protection must go hand in hand, because there can be no sustainable return without protecting the value of the underlying assets. As far as I am concerned, the way to protect my portfolio is to favor only securities with a positive NAV over time.

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund offers a high 7.82% yield from a globally diversified, equity-heavy portfolio, with tax-advantaged distributions that help if using a taxable account. The ETO closed-end fund is currently favoring foreign equities, which have outperformed U.S. stocks year-to-date, and benefits from a weak U.S. dollar environment. Equities are probably a better holding than bonds right now, given the market's increasing reluctance to finance developed-market nations.

I'm just going to come out and say it: If you want to be financially independent (and who doesn't?), you must own closed-end funds (CEFs).

Total Return can be misleading if not supported by NAV growth, as it may include unsustainable distributions and Return of Capital. Behavioral finance shows markets are irrational, making it crucial to consider practical aspects beyond theoretical Total Return calculations. I believe that NAV performance can affect our discretion in the reinvestment choices for the distributions we receive from our savings much more than Total Return.

The Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund offers high income by investing in global dividend-paying equities, providing a better alternative to fixed-income securities. The fund's global focus allows it to exploit international profit opportunities, potentially outperforming U.S.-centric funds, especially in volatile domestic markets. The fund does not appear to be doing as good of a job at taking advantage of foreign market strength, but it is still outperforming domestic markets.

The essence of financial awareness is to realize that money can work for us through our investments. Understanding the value of money is the first step toward financial education, which leads to the selection of the most appropriate tools for developing that awareness. In my case, the instruments I have adopted are largely high-income vehicles, with monthly and, in some cases, quarterly distribution.

BOSTON--(BUSINESS WIRE)--The Eaton Vance closed-end funds listed below released today the estimated sources of their February distributions (each a “Fund”). This press release is issued as required by the Funds' managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of the Plan to make monthly, as noted below, cash distributions to common shareholders, stated in terms of a fixed amo.

Our investments, usually conceived and implemented gradually over time, are the pieces of a personal mosaic that form the whole of our assets. One solution for entering the financial markets can be Dollar-Cost Averaging (DCA), a form of investing a constant amount at regular intervals. However, initiating a plan to buy stocks according to the logic of DCA presupposes awareness of the fluctuations in financial markets and their psychological implications.

BOSTON--(BUSINESS WIRE)--The following Eaton Vance closed-end funds (the “Funds”) announced distributions today as detailed below. Declaration – 2/3/2025 Ex-Date – 2/13/2025 Record – 2/13/2025 Payable – 2/24/2025 Municipal Bond Funds:   Fund Ticker Distribution Change From Prior Distribution Closing Market Price – 1/31/25 Distribution Rate at Market Price Eaton Vance California Municipal Income Trust CEV $0.0500 - $10.14 5.92% Eaton Vance Municipal Income Trust EVN $0.0513 - $10.31 5.97% Taxabl.

The Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund offers an 8.23% yield, higher than domestic equity indices and most fixed-income securities, making it attractive for income-focused investors. Despite its high yield, the fund's historical performance has been average, underperforming peers and major indices, which may deter some investors. The fund's equity-heavy allocation provides better inflation protection compared to fixed-income securities, aligning with the current inflationary environment and expanding money supply.

BOSTON--(BUSINESS WIRE)--The following Eaton Vance closed-end funds (the “Funds”) announced distributions today as detailed below. Declaration – 1/2/2025 Ex-Date – 1/13/2025 Record – 1/13/2025 Payable – 1/22/2025 Municipal Bond Funds: Fund Ticker Distribution Change From Prior Distribution Closing Market Price – 12/31/24 Distribution Rate at Market Price Eaton Vance California Municipal Income Trust CEV $0.0500 - $10.04 5.98% Eaton Vance Municipal Income Trust EVN $0.0513 - $10.11 6.09% Taxable.

Risk is the probability of a negative event in the future. An abstract concept that is not measurable; otherwise it would not be risk. Ascertaining value is the first step in controlling risk, that is, in reducing the possibility of incurring losses that cannot be predicted in advance. My choice to invest in securities with positive NAV performance over time is a way to try to control risk.