HIE: Sky-High Expenses For Just Dividend Stocks [Seeking Alpha]
Miller/Howard High Income Equity Fund Common Shares of Beneficial Interest (HIE)
US:NYSE Investor Relations:
mhinvest.com/hie
Company Research
Source: Seeking Alpha
HIE: Sky-High Expenses For Just Dividend Stocks The Miller/Howard High Income Equity Fund ( HIE closed end fund Fund Investors Haven’t Been Rewarded Since inception the fund has underperformed the S&P 500 substantially despite being composed primarily of US equities. (Graphic: Morningstar.com) The fund does pay distributions of around 13% to 13.5% (depending on whether you use the NAV or market price when calculating the rate) however, Morningstar’s performance information for the fund is labeled as showing total returns, which should include those distributions. Given that the stock market has gone up since the fund’s inception, it’s pretty inexcusable that the fund has underperformed given it is leveraged. One would expect returns to exceed the market or at least some other relevant benchmark. Here are the fund’s returns compared to two cheaper dividend-focused funds: the Vanguard High Dividend Yield Fund ( VHDYX VIGI (Graphic Source: Morningstar.com, red highlights author) For thes
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Sec Filings
- 9/30/24 - Form NPORT-P
- 9/27/24 - Form 144
- HIE's page on the SEC website