Buy Microsoft at a Discount with 7.7% Dividend

Closed-end funds (CEFs) offer higher yields than ETFs, with an average of 8% compared to 1.1% for the SPDR S&P 500 ETF Trust. CEFs have higher management fees, but these fees are taken out of the portfolio before distributing dividends. Two CEFs, BlackRock Science and Technology Trust and Columbia Seligman Premium Technology Growth Fund, have lower fees of around 1.1%. The fees are a combination of administrative fees and payment for services, and CEFs compete to keep fees low.