ERH

Utilities and High Income Fund

$11.44
NAV
+$0.08 / +0.70%
$10.07
Market price* $0.08 (0.80%)
-11.98
Premium/Discount
Data as of 7/12/2024
Fund overview
Utilities stocks coupled with high yield exposure
The Utilities and High Income Fund seeks a high level of current income and moderate capital growth with an emphasis on providing tax-advantaged dividend income.

The fund allocates its assets between two separate investment strategies, or sleeves.

Key differentiator

The fund allocates approximately 70% of its total assets to a sleeve that places a focus on common, preferred, and convertible preferred stocks of utility companies. Approximately 30% of the fund’s total assets are allocated to a sleeve of U.S.-dollar-denominated below-investment-grade (high yield) debt.

General facts

Fund inception date

4/28/2004

Ticker

ERH

CUSIP

94987E109

Distribution rate (NAV)

6.38%

Distribution rate (market price)

7.25%

30-Day SEC yield (as of 7/11/2024)

3.80%

30-Day unsubsidized SEC yield (as of 7/11/2024)

3.80%

Assets under management

$103.4M

Distributions

Historical prices

YTD high $11.61 5/21/2024
YTD low $10.01 2/13/2024
52-week high $11.61 5/21/2024
52-week low $9.55 10/2/2023
2023 high $12.47 1/11/2023
2023 low $9.55 10/2/2023
Best quarterly return 10.35% 12/31/2021
Worst quarterly return 0.00% 6/30/2024
Best annual return 17.26% 12/31/2019
Worst annual return -4.66% 12/31/2022

Distribution summary

Dividends Monthly
Capital gains Annually

Dividend history

Ex-dividend date Record date Payable date Dividend rate/share ($)
7/11/2024 7/11/2024 8/1/2024 0.062
6/13/2024 6/13/2024 7/1/2024 0.06197
5/10/2024 5/13/2024 6/3/2024 0.06246
4/11/2024 4/12/2024 5/1/2024 0.06278
3/11/2024 3/12/2024 4/1/2024 0.06347
2/12/2024 2/13/2024 3/1/2024 0.06428
1/12/2024 1/16/2024 2/1/2024 0.06507
12/11/2023 12/12/2023 1/2/2024 0.06584
11/13/2023 11/14/2023 12/1/2023 0.06655
10/12/2023 10/13/2023 11/1/2023 0.06765
9/11/2023 9/12/2023 10/2/2023 0.06891
8/11/2023 8/14/2023 9/1/2023 0.06951
7/13/2023 7/14/2023 8/1/2023 0.07014
6/12/2023 6/13/2023 7/3/2023 0.07097
5/11/2023 5/12/2023 6/1/2023 0.07194
4/13/2023 4/14/2023 5/1/2023 0.07291
3/10/2023 3/13/2023 4/3/2023 0.07342
2/10/2023 2/13/2023 3/1/2023 0.07394
1/12/2023 1/13/2023 2/1/2023 0.07444
12/12/2022 12/13/2022 1/3/2023 0.07496
11/11/2022 11/14/2022 12/1/2022 0.07571
10/13/2022 10/14/2022 11/1/2022 0.07584
9/12/2022 9/13/2022 10/3/2022 0.0758
8/11/2022 8/12/2022 9/1/2022 0.07597
7/11/2022 7/12/2022 8/1/2022 0.07615
6/10/2022 6/13/2022 7/1/2022 0.07612
5/12/2022 5/13/2022 6/1/2022 0.07575
4/11/2022 4/12/2022 5/2/2022 0.07529
3/11/2022 3/14/2022 4/1/2022 0.07512
2/11/2022 2/14/2022 3/1/2022 0.07477
1/13/2022 1/14/2022 2/1/2022 0.0744
12/13/2021 12/14/2021 1/3/2022 0.07434
11/12/2021 11/15/2021 12/1/2021 0.07424
10/12/2021 10/13/2021 11/1/2021 0.07368
9/13/2021 9/14/2021 10/1/2021 0.07314
8/12/2021 8/13/2021 9/1/2021 0.07248
7/12/2021 7/13/2021 8/2/2021 0.07212
6/11/2021 6/14/2021 7/1/2021 0.07126
5/13/2021 5/14/2021 6/1/2021 0.07047
4/12/2021 4/13/2021 5/3/2021 0.07004
3/11/2021 3/12/2021 4/1/2021 0.07067
2/11/2021 2/12/2021 3/1/2021 0.07104
1/12/2021 1/13/2021 2/1/2021 0.07123
12/11/2020 12/14/2020 1/4/2021 0.07101
11/12/2020 11/13/2020 12/1/2020 0.07143
10/13/2020 10/14/2020 11/2/2020 0.072
9/11/2020 9/14/2020 10/1/2020 0.07233
8/13/2020 8/14/2020 9/1/2020 0.07809
6/12/2020 6/15/2020 7/1/2020 0.08033
5/11/2020 5/12/2020 6/1/2020 0.08027
4/13/2020 4/14/2020 5/1/2020 0.08096
3/12/2020 3/13/2020 4/1/2020 0.0804
2/13/2020 2/14/2020 3/2/2020 0.07988
1/13/2020 1/14/2020 2/3/2020 0.07949
12/12/2019 12/13/2019 1/2/2020 0.07922
11/12/2019 11/13/2019 12/2/2019 0.07875
10/15/2019 10/16/2019 11/1/2019 0.0784
9/12/2019 9/13/2019 10/1/2019 0.075
8/12/2019 8/13/2019 9/3/2019 0.075
7/11/2019 7/12/2019 8/1/2019 0.075
5/13/2019 5/14/2019 6/3/2019 0.075
4/11/2019 4/12/2019 5/1/2019 0.075
3/11/2019 3/12/2019 4/1/2019 0.075
2/13/2019 2/14/2019 3/1/2019 0.075
1/15/2019 1/16/2019 2/1/2019 0.075
12/14/2018 12/17/2018 1/2/2019 0.075
10/12/2018 10/15/2018 11/1/2018 0.075
8/14/2018 8/15/2018 9/4/2018 0.075
7/13/2018 7/16/2018 8/1/2018 0.075
6/12/2018 6/13/2018 7/2/2018 0.075
5/14/2018 5/15/2018 6/1/2018 0.075
4/13/2018 4/16/2018 5/1/2018 0.075
3/13/2018 3/14/2018 4/2/2018 0.075
2/13/2018 2/14/2018 3/1/2018 0.075
1/16/2018 1/17/2018 2/1/2018 0.075
12/12/2017 12/13/2017 1/2/2018 0.075
11/14/2017 11/15/2017 12/1/2017 0.075
10/13/2017 10/16/2017 11/1/2017 0.075
9/12/2017 9/13/2017 10/2/2017 0.075
8/11/2017 8/15/2017 9/1/2017 0.075
7/13/2017 7/17/2017 8/1/2017 0.075
6/12/2017 6/14/2017 7/3/2017 0.075
5/16/2017 5/18/2017 6/1/2017 0.075
4/13/2017 4/18/2017 5/1/2017 0.075
3/13/2017 3/15/2017 4/3/2017 0.075
2/13/2017 2/15/2017 3/1/2017 0.075
1/12/2017 1/17/2017 2/1/2017 0.075
12/12/2016 12/14/2016 1/3/2017 0.075
11/14/2016 11/16/2016 12/1/2016 0.075
10/13/2016 10/17/2016 11/1/2016 0.075
9/12/2016 9/14/2016 10/3/2016 0.075
8/11/2016 8/15/2016 9/1/2016 0.075
7/11/2016 7/13/2016 8/1/2016 0.075
6/13/2016 6/15/2016 7/1/2016 0.075
5/12/2016 5/16/2016 6/1/2016 0.075
4/11/2016 4/13/2016 5/2/2016 0.075
3/11/2016 3/15/2016 4/1/2016 0.075
2/11/2016 2/16/2016 3/1/2016 0.075
1/14/2016 1/19/2016 2/1/2016 0.075
12/11/2015 12/15/2015 1/4/2016 0.075
11/12/2015 11/16/2015 12/1/2015 0.075
10/13/2015 10/15/2015 11/2/2015 0.075
9/11/2015 9/15/2015 10/1/2015 0.075
8/13/2015 8/17/2015 9/1/2015 0.075
7/13/2015 7/15/2015 8/3/2015 0.075
6/11/2015 6/15/2015 7/1/2015 0.075
5/11/2015 5/13/2015 6/1/2015 0.075
4/13/2015 4/15/2015 5/1/2015 0.075
3/12/2015 3/16/2015 4/1/2015 0.075
2/11/2015 2/13/2015 3/2/2015 0.075
1/12/2015 1/14/2015 2/2/2015 0.075
12/11/2014 12/15/2014 1/2/2015 0.075
11/13/2014 11/17/2014 12/1/2014 0.075
10/14/2014 10/16/2014 11/3/2014 0.075
9/11/2014 9/15/2014 10/1/2014 0.075
8/11/2014 8/13/2014 9/2/2014 0.075
7/11/2014 7/15/2014 8/1/2014 0.075
6/12/2014 6/16/2014 7/1/2014 0.075
5/12/2014 5/14/2014 6/2/2014 0.075
4/11/2014 4/15/2014 5/1/2014 0.075
3/13/2014 3/17/2014 4/1/2014 0.075
2/13/2014 2/18/2014 3/3/2014 0.075
1/13/2014 1/15/2014 2/3/2014 0.075
12/12/2013 12/16/2013 1/2/2014 0.075
11/12/2013 11/14/2013 12/2/2013 0.075
10/10/2013 10/15/2013 11/1/2013 0.075
9/13/2013 9/17/2013 10/1/2013 0.075
8/12/2013 8/14/2013 9/3/2013 0.075
7/11/2013 7/15/2013 8/1/2013 0.075
6/13/2013 6/17/2013 7/1/2013 0.075
5/13/2013 5/15/2013 6/3/2013 0.075
4/12/2013 4/16/2013 5/1/2013 0.075
3/12/2013 3/14/2013 4/1/2013 0.075
2/11/2013 2/13/2013 3/1/2013 0.075
1/11/2013 1/15/2013 2/1/2013 0.075
12/13/2012 12/17/2012 1/2/2013 0.075
11/13/2012 11/15/2012 12/3/2012 0.075
10/11/2012 10/15/2012 11/1/2012 0.075
9/14/2012 9/18/2012 10/1/2012 0.075
8/10/2012 8/14/2012 9/4/2012 0.075
7/12/2012 7/16/2012 8/1/2012 0.075
6/11/2012 6/13/2012 7/2/2012 0.075
5/11/2012 5/15/2012 6/1/2012 0.075
4/12/2012 4/16/2012 5/1/2012 0.075
3/12/2012 3/14/2012 4/2/2012 0.075
2/13/2012 2/15/2012 3/1/2012 0.075
1/13/2012 1/18/2012 2/1/2012 0.075
12/12/2011 12/14/2011 1/3/2012 0.075
11/14/2011 11/16/2011 12/1/2011 0.075
10/13/2011 10/17/2011 11/1/2011 0.075
9/12/2011 9/14/2011 10/3/2011 0.075
8/11/2011 8/15/2011 9/1/2011 0.075
7/11/2011 7/13/2011 8/1/2011 0.075
6/13/2011 6/15/2011 7/1/2011 0.075
5/12/2011 5/16/2011 6/1/2011 0.075
4/11/2011 4/13/2011 5/2/2011 0.075
3/11/2011 3/15/2011 4/1/2011 0.075
2/11/2011 2/15/2011 3/1/2011 0.075
1/13/2011 1/18/2011 2/1/2011 0.075
12/13/2010 12/15/2010 1/3/2011 0.075
11/11/2010 11/15/2010 12/1/2010 0.075
10/13/2010 10/15/2010 11/1/2010 0.075
9/13/2010 9/15/2010 10/1/2010 0.075
8/12/2010 8/16/2010 9/1/2010 0.075
7/13/2010 7/15/2010 8/2/2010 0.075
6/11/2010 6/15/2010 7/1/2010 0.075
5/12/2010 5/14/2010 6/1/2010 0.075
4/13/2010 4/15/2010 5/3/2010 0.075
3/11/2010 3/15/2010 4/1/2010 0.11
2/11/2010 2/16/2010 3/1/2010 0.11
1/14/2010 1/19/2010 2/1/2010 0.11
12/11/2009 12/15/2009 1/4/2010 0.11
11/12/2009 11/16/2009 12/1/2009 0.11
10/12/2009 10/14/2009 11/2/2009 0.11
9/14/2009 9/16/2009 10/1/2009 0.11
8/13/2009 8/17/2009 9/1/2009 0.11
7/13/2009 7/15/2009 8/3/2009 0.11
6/11/2009 6/15/2009 7/1/2009 0.11
5/11/2009 5/13/2009 6/1/2009 0.11
4/13/2009 4/15/2009 5/1/2009 0.11
3/11/2009 3/13/2009 4/1/2009 0.11
2/13/2009 2/11/2009 3/2/2009 0.11
1/14/2009 1/16/2009 2/2/2009 0.11
12/11/2008 12/15/2008 1/2/2009 0.23
11/13/2008 11/17/2008 12/1/2008 0.23
10/14/2008 10/16/2008 11/3/2008 0.23
9/12/2008 9/16/2008 10/1/2008 0.23
8/11/2008 8/13/2008 9/2/2008 0.23
7/11/2008 7/15/2008 8/1/2008 0.23
6/12/2008 6/16/2008 7/1/2008 0.23
5/12/2008 5/14/2008 6/2/2008 0.23
4/11/2008 4/15/2008 5/1/2008 0.23
3/13/2008 3/17/2008 4/1/2008 0.23
2/11/2008 2/13/2008 3/3/2008 0.23
1/14/2008 1/16/2008 2/1/2008 0.23
12/13/2007 12/17/2007 1/2/2008 0.23
11/13/2007 11/15/2007 12/3/2007 0.23
10/11/2007 10/15/2007 11/1/2007 0.23
9/13/2007 9/17/2007 10/1/2007 0.23
8/13/2007 8/15/2007 9/4/2007 0.23
7/12/2007 7/16/2007 8/1/2007 0.2
6/11/2007 6/13/2007 7/2/2007 0.2
5/11/2007 5/15/2007 6/1/2007 0.2
4/12/2007 4/16/2007 5/1/2007 0.2
3/12/2007 3/14/2007 4/2/2007 0.2
2/12/2007 2/14/2007 3/1/2007 0.2
1/12/2007 1/17/2007 2/1/2007 0.2
12/27/2006 12/29/2006 1/2/2007 1.3979
12/11/2006 12/13/2006 1/2/2007 0.2
11/13/2006 11/15/2006 12/1/2006 0.2
10/12/2006 10/16/2006 11/1/2006 0.2
9/11/2006 9/13/2006 10/2/2006 0.1667
8/11/2006 8/15/2006 9/1/2006 0.1667
7/13/2006 7/17/2006 8/1/2006 0.1667
6/12/2006 6/14/2006 7/3/2006 0.1667
5/11/2006 5/15/2006 6/1/2006 0.1667
4/13/2006 4/18/2006 5/1/2006 0.1667
3/10/2006 3/14/2006 4/3/2006 0.125
2/10/2006 2/14/2006 3/1/2006 0.125
1/13/2006 1/18/2006 2/1/2006 0.125
12/28/2005 12/30/2005 1/3/2006 1.0725
12/12/2005 12/14/2005 1/3/2006 0.125
11/10/2005 11/15/2005 12/1/2005 0.125
10/13/2005 10/17/2005 11/1/2005 0.125
9/12/2005 9/14/2005 10/3/2005 0.10833
8/11/2005 8/15/2005 9/1/2005 0.10833
7/11/2005 7/13/2005 8/1/2005 0.10833
6/13/2005 6/15/2005 7/1/2005 0.1
5/12/2005 5/16/2005 6/1/2005 0.1
4/11/2005 4/13/2005 5/2/2005 0.1
3/10/2005 3/14/2005 4/1/2005 0.1
2/11/2005 2/15/2005 3/1/2005 0.1
1/13/2005 1/18/2005 2/1/2005 0.1
12/29/2004 12/31/2004 1/3/2005 0.36
12/13/2004 12/15/2004 1/3/2005 0.1
11/10/2004 11/15/2004 12/1/2004 0.1
10/13/2004 10/15/2004 11/1/2004 0.1
9/13/2004 9/15/2004 10/1/2004 0.1
8/12/2004 8/16/2004 9/1/2004 0.1
7/13/2004 7/15/2004 8/2/2004 0.1
6/24/2004 6/28/2004 7/1/2004 0.1
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Documents

Literature Date
Fact Sheet 3/31/2024 Download
Regulatory Document Date
Annual Report 8/31/2023 Download
Quarterly Holdings 5/31/2023 Download
Quarterly Holdings 11/30/2023 Download
Semi-annual Report 2/29/2024 Download
Our team
Meet the investment team

The team believes companies with a history of consistently increasing dividends have significant signaling qualities. We expect those we own to make disciplined capital decisions—aiming for higher, more consistent returns.

Contact Us

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The values of, and/or the income generated by, securities held by the fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Equity securities fluctuate in value in response to factors specific to the issuer of the security. Debt securities are subject to credit risk and interest rate risk, and high yield securities and unrated securities of similar credit quality have a much greater risk of default and their values tend to be more volatile than higher-rated securities with similar maturities. The fund is also subject to risks associated with any concentration of its investments in the utility sector. Funds that concentrate their investments in a single industry or sector may face increased risk of price fluctuation due to adverse developments within that industry or sector. The fund is leveraged through a revolving credit facility and also may incur leverage by issuing preferred shares in the future. The use of leverage results in certain risks, including, among others, the likelihood of greater volatility of net asset value and the market price of common shares. Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability, and foreign currency fluctuations. Derivatives involve additional risks, including interest rate risk, credit risk, the risk of improper valuation, and the risk of noncorrelation to the relevant instruments they are designed to hedge or closely track. This closed-end fund is no longer available as an initial public offering and is only offered through broker/dealers on the secondary market. A closed-end fund is not required to buy its shares back from investors upon request. Shares of the fund may trade at either a premium or discount relative to the fund's net asset value, and there can be no assurance that any discount will decrease.

The quoted distribution rates are figures that use the funds' previous distribution to calculate an annualized figure. Distribution Rate is calculated by annualizing the last distribution and then dividing by the period ending NAV or market price. Special distributions, including special capital gains distributions, are not included in the calculation. Distributions may be sourced from any or all of the following: income, capital gains and return of capital.

Dividends are paid monthly. Historical dividend sources have included net investment income, realized gains, and return of capital. Each fund will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes. A fund's current distribution rate and historical dividends are not indicative of future performance. If a distribution is from a source other than net investment income, the Fund provides a notice to shareholders with an estimate of its distribution source at that time. The final determination of the source of all dividend distributions in the current year will be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon a fund's investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. Each fund will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes.

Figures quoted represent past performance, which is no guarantee of future results, and do not reflect taxes that a shareholder may pay on fund distributions or the sales of fund shares. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted, which assumes the reinvestment of dividends and capital gains. Performance shown is net of all applicable fund fees and expenses. Performance figures of the fund do not reflect fees an investor may be charged pursuant to the terms of any brokerage account agreements with their broker or financial intermediary. To obtain performance information current to the most recent month-end, please call 1-800-222-8222.

The closed-end funds (CEFs) are no longer offered as initial public offerings. Investors who wish to buy or sell fund shares of a CEF need to place orders through an intermediary, or broker, who will buy or sell fund shares on the stock exchange in a process identical to the purchase or sale of any other listed stock.

The 30-day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and includes the effect of any fee waivers. Without waivers, yields would be reduced. The 30-day unsubsidized SEC yield does not reflect waivers in effect. A fund’s actual distribution rate will differ from the SEC yield and any income distributions from the fund may be higher or lower than the SEC yield.