Top 10 CEFs for August 2025: Average Yield of 9% Annually

The article discusses the top 10 Closed-End Funds (CEFs) with an average yield of nearly 9% as of August 2025. The article suggests that the format of the monthly article has been changed to 10 Best CEFs from 5 Best CEFs to provide more flexibility for readers to choose the funds that suit their individual needs.

Closed-end funds (CEFs) offer unique investment opportunities, with the potential for higher yields and discounts to net asset value (NAV). This article identifies the top 10 CEFs with an average yield of nearly 9% as of August 2025, providing investors with a range of options to suit their individual needs.

1. Nuveen Real Estate Income Fund (JRS)
- Market Value: $222.2 million
- Distribution Rate: 8.8%
- Discount to NAV: -8.3%
- Expenses: 3.52%
- The Nuveen Real Estate Income Fund invests in real estate investment trusts (REITs), offering exposure to a sector that has been negatively impacted by recent bond yield surges. The fund trades at an 8.3% discount to NAV, making it an attractive option for investors seeking real estate exposure at a discount [1].

2. Nuveen Credit Strategies Income Fund (JQC)
- Market Value: $811.5 million
- Distribution Rate: 11.8%
- Discount to NAV: -2.5%
- Expenses: 4.12%
- The Nuveen Credit Strategies Income Fund invests in floating-rate loans, benefiting from the Federal Reserve's interest rate hikes. It offers a healthy yield of 11.8% and trades at a 2.5% discount to NAV [1].

3. Tortoise Sustainable and Social Impact Term Fund (TEAF)
- Market Value: $163.2 million
- Distribution Rate: 8.9%
- Discount to NAV: -9.2%
- Expenses: 2.75%
- The Tortoise Sustainable and Social Impact Term Fund invests in a mixture of traditional and alternative energy, trading at a deep discount to NAV. It is designed to liquidate at NAV in 2031, providing investors with the opportunity to benefit from a narrowing discount [1].

4. ClearBridge Energy Midstream Opportunity Fund (EMO)
- Market Value: $928.9 million
- Distribution Rate: 9.0%
- Discount to NAV: -3.7%
- Expenses: 3.82%
- The ClearBridge Energy Midstream Opportunity Fund invests in oil and gas pipeline stocks, offering exposure to the midstream sector without the tax complications associated with master limited partnerships (MLPs) [1].

5. Sprott Physical Gold Trust (PHYS)
- Market Value: $12.1 billion
- Distribution Rate: N/A
- Discount to NAV: -1.5%
- Expenses: 0.40%
- The Sprott Physical Gold Trust holds a passive portfolio of gold bullion, offering investors a way to gain exposure to the precious metal at a discount to NAV [1].

6. Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG)
- Market Value: $1.6 billion
- Distribution Rate: 7.5%
- Discount to NAV: -1.3%
- Expenses: 2.70%
- The Eaton Vance Tax-Advantaged Global Dividend Income Fund invests in dividend-paying value stocks globally, offering a mix of international and U.S. exposure [1].

7. Nuveen Select Dividend Fund (NUV)
- Market Value: $645.6 million
- Distribution Rate: 8.5%
- Discount to NAV: -3.2%
- Expenses: 3.10%
- The Nuveen Select Dividend Fund invests in dividend-paying stocks, offering a yield of 8.5% and trading at a 3.2% discount to NAV [1].

8. Nuveen Short-Term Bond Fund (NVT)
- Market Value: $1.7 billion
- Distribution Rate: 3.5%
- Discount to NAV: -2.8%
- Expenses: 2.90%
- The Nuveen Short-Term Bond Fund invests in high-quality, short-term bonds, offering a yield of 3.5% and trading at a 2.8% discount to NAV [1].

9. Nuveen Municipal Income Fund (NIM)
- Market Value: $1.3 billion
- Distribution Rate: 4.8%
- Discount to NAV: -1.2%
- Expenses: 3.10%
- The Nuveen Municipal Income Fund invests in high-quality municipal bonds, offering a yield of 4.8% and trading at a 1.2% discount to NAV [1].

10. Nuveen Real Estate Income Fund (JRS)
- Market Value: $222.2 million
- Distribution Rate: 8.8%
- Discount to NAV: -8.3%
- Expenses: 3.52%
- The Nuveen Real Estate Income Fund invests in real estate investment trusts (REITs), offering exposure to a sector that has been negatively impacted by recent bond yield surges. The fund trades at an 8.3% discount to NAV, making it an attractive option for investors seeking real estate exposure at a discount [1].

These top 10 CEFs provide investors with a range of options to suit their individual needs, offering high yields and discounts to NAV. As always, investors should carefully consider their individual financial circumstances and consult with a financial advisor before making investment decisions.

References:
[1] https://www.kiplinger.com/investing/cefs/best-closed-end-funds