Gabelli Small Cap Growth AAA

… 30-something. I have your typical diversified mix going on right now--large and small cap US stock funds/ETFs (RVT, GABSX ), Foreign equities (UMB Scout)and some Emerging Markets stuff (SSEMX)... The other roughly half of total assets is …

… Roth IRA look like this: 33% either YAFFX or TWEIX (Large cap value) 33% MAPIX or MAPTX (International) 33% JATTX or GABSX (small / mid cap) Suggestions / changes? I don't have any bonds right now because I think I'm far enough away from retirement …

CEFs for Non-active Traders To recap, I am exploring the usefulness of CEFs for the non-active investor. IMO, that means, among other things, the CEF needs to have a proven track record of 10+ years and a healthy positive return for that period. By healthy return I mean I would like it to have 10 year annualized returns that are equal or better  than a similar "good" OEF in the same general category or an ETF (if available with a 10 year history) or an index in basically the same category. Somewhat unorthodox, I would like the return to be over 7.5%, which is what CDs were getting 10 years ago. Side note: IMO, active investing is a zero sum game even among the pros, so it is questionable if the average person should be in it. That leaves such people with more conservative investment options such as: laddered CDs, diversified and periodically re-balanced ETF portfolios, or perhaps property or a few good OEF investments. Are there also some CEFs that might be suitable for non-active investors? Fixed Income CEFs that were investigated include: FDI - The Fund invests principally in investment grade, long-term, fixed income debt securities. http://www.ubs.com/1/e/globalam/Americas/globalamus/globalamusfa/closed_end_funds.html Inception: 1973 Leverage: No 10 Year Annualized Total Returns: Price 8.42%, NAV 7.2% Comparison OEF: DIGIX (5 star MS rating)                 10 Year Annualized Total Returns: 6.73% Comparison Index: Barclays Capital US Aggregate Bond USD                 10 Year Annualized Total Returns: 6.57% GIM* - Under normal market conditions, the Fund invests at least 80% of its net assets in income-producing securities, including debt securities of U.S. and foreign issuers, including emerging markets. http://www.franklintempleton.com/retail/jsp_app/products/closed_end_fund.jsp?fundNumber=946 Inception: 1988 Leveraged: No 10 Year Annualized Total Returns: Price 15.47%, NAV 13.05% Comparison OEF: ESICX (5 star MS rating)                 10 Year Annualized Total Returns: 8.77% Comparison Index: xxx TEI* - ...80% of its net assets in income-producing securities of sovereign or sovereign-related entities and private sector companies in emerging market countries. http://www.franklintempleton.com/retail/jsp_app/products/closed_end_fund.jsp?fundNumber=555 Inception: 1993 Leveraged: No 10 Year Annualized Total Returns: Price 15.38%, NAV 12.83% Comparison OEF: MEDIX (5 star MS rating)                 10 Year Annualized Total Returns: 14.10% Comparison Index: xxx *GIM and TEI have the same fund sponsors and portfolio managers. NXP - The fund invests substantially all of its assets in long-term municipal obligations with investment-grade ratings (Baa and BBB or better). http://www.nuveen.com/CEF/FundDetail.aspx?FundCode=NXP Leveraged: No 10 Year Annualized Total Returns: Price 6.71%, NAV 5.20% Comparison OEF: VWLUX (5 star MS rating)                 10 Year Annualized Total Returns: 5.76% Comparison Index: Barclay Capital Municipal                 10 Year Annualized Total Returns: 5.91% Conclusion : Some CEF Fixed Income funds might be suitable for the non-active investor.   Equity CEFs that were investigated include: Board Suggested Funds (mostly equity funds) ADX and CET were suggested. Neither of these meets my objective of a strong 10 year annualized return. DHG , NFJ and DCW were also suggested and are all less than 10 years old and have modest since inception return results. (I suspect all were submitted with different criteria in mind than what I had in mind.) Tug kindly listed a group of equity funds with 10 year+ histories. There include TY , CET , GRF , RMT, RVT & FUND, ADX , PEO , GAM , SOR , USA , USG and BLU . All except RMT had a weak ten year return record. Other Funds RMT - a closed-end fund that invests primarily in companies with market capitalizations less than $500 million. http://www.roycefunds.com/Funds/Closed/rmt/?fund_id=20 Inception: 1993 Leveraged: yes 10 Year Annualized Total Returns: Price 9.15%, NAV 8.84% Comparison OEF: GABSX (5 star MS rating)                 10 Year Annualized Total Returns: 9.10% Comparison Index: S&P 500                  10 Year Annualized Total Returns: 9.51% PDT - The Fund invests in a diversified portfolio of dividend-paying preferred stocks and common equity securities. http://www.jhfunds.com/Fund/Overview.aspx?ProductType=ClosedEnd&FundID=GC03&ClassCode=CE&BackToFundTableTyp Inception: 1993 Leveraged: yes 10 Year Annualized Total Returns: Price 9.33%, NAV 6.98% RFI - investment in real estate securities http://www.cohenandsteers.com/opmc_overview.asp?cusip=3 Inception: 1993 Leveraged: no 10 Year Annualized Total Returns: Price 10.61%, NAV 11.65%   Watch List: GLU (domestic and foreign utilities), GCS (commodities) Conclusion : Some CEF specialty equity funds might be suitable for the non-active investor, but IMO, they are more risky and less suitable than the CEF fixed income investments.        For equity CEF investments the micro cap CEF RMT and the preferred CEF PDT might also be suitable candidates. The other equity CEFs that have been suggested, IMO, have poor 10 year results and seem not appropriate. ETO ETG and ETV have less than a 10 year record, but appear worth investigating as equity CEF holdings for the non active trader, IMO.