ETG: The NAV Is Up 29%, The Market Still Wants An 11% Discount

Summary Eaton Vance Tax-Advantaged Global Dividend Income Fund trades at a near 11% discount to NAV despite strong portfolio performance. ETG's NAV returned 29.1% over 12 months, outpacing its category, while the market price lagged, widening the discount. The fund offers a 6.7% yield via a managed distribution, primarily sourced from capital gains and investment income, not just dividends. I rate ETG a 'Buy'—the wide discount, robust performance, and monthly distributions offer compelling risk-reward at current levels. designer491/iStock via Getty Images The Portfolio Is Winning, The Share Price Isn't Eaton Vance Tax-Advantaged Global Dividend Income Fund ( ETG ) has one of the more interesting disconnects I can find in the closed-end fund market right now. According to This article was written by On the Pulse 15.09K Followers Follow A financial researcher and avid investor with a keen eye for innovation and disruption, as well as growth buy-outs and value stocks. Keeping an eye on the pace of high tech and early growth companies, I write about current events and the biggest news surrounding the industry, and strive to provide readers with ample research and investment opportunities. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Short position through short-selling of the stock, or purchase of put options or similar derivatives in ETG over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.