I hear it from readers all the time: closed-end fund fees are just too high! And when you can get a passive fund that simply tracks the S&P 500, like the Vanguard 500 ETF (VOO), for a microscopic 0.05% expense ratio, it can seem silly to pay over 2% for a closed-end fund. (If you’re unfamiliar with CEFs, click here to learn more about them —and why you need to hold at least a few of these high-yield investments in your retirement portfolio.) My answer is that you need to look closely at total returns, keeping in mind that CEFs report returns after fees . … Read more