Closed-End Fund Investment Objective Definitions
Classifications are made by reviewing prospectuses for language included in these definitions.
Domestic equity funds seek a combination of capital appreciation and current income by investing primarily in common and preferred stocks issued by U.S. companies.
Global/International (world) equity funds invest primarily in equity securities traded worldwide, including companies based in the United States, specific countries or regions, and emerging markets.
Domestic taxable bond funds seek to provide current income and/or capital appreciation by investing in bonds issued, or backed, by the U.S. government, investment grade bonds, high-yield bonds, and senior-secured floating or variable rate bank loans.
Global/International (world) taxable bond funds seek to provide current income by investing in bonds globally, including those issued by companies based in the United States, specific countries or regions, and emerging markets.
Domestic municipal bond funds invest in municipal bonds of a single state or a national mix of municipal bonds.