ETB: A Consistent Buy-Write Options Fund, With 8.5% Yield And 7% Discount

2025-10-19 08:05:00 ET

Introduction:

Eaton Vance Tax-Managed Buy-Write Income Fund ( ETB ) was launched in April 2005 as a closed-end fund. The fund's primary objective is to provide a high level of tax-managed income. The fund tries to minimize or defer the federal income taxes for its shareholders. Capital appreciation is the secondary objective. It currently provides a roughly 8.5% distribution yield, and the market price offers an attractive -6.80% discount to the NAV (net asset value). On a relative basis, this is a fairly small fund managed by Eaton Vance compared to some of the much bigger funds. The fund uses no leverage and is mostly invested in domestic US securities. The fund’s strategy involves investing in a portfolio of common stocks and selling covered call options to raise income as well as reduce volatility....

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