In plain terms — Cornerstone Total Return Fund
Shares currently cost about 3.9% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 15.2% premium, so today's level is somewhat wide for this fund (Z-score -2.0). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 23.8% a year of the share price (22.9% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.04 of assets — a ReinvestCapture™ rate of 24.8%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 15.3% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | +6.84% | 5.74% | -0.99 | 55 |
| 6 months | +11.71% | 7.17% | -1.48 | 106 |
| 1 year | +15.17% | 7.17% | -1.96 | 203 |
| 3 years | +16.11% | — | — | — |
| 5 years | +21.58% | — | — | — |
Current contemporaneous premium/discount +1.13% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -0.98% to +29.00%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -4.26% | -16.16% | -24.22% | -25.34% | -6.30% | -13.71% |
| Market price total return | -2.43% | -11.69% | -12.14% | -9.54% | +11.41% | +3.27% |
| NAV return | +0.82% | -3.59% | -5.37% | -7.50% | +0.27% | -8.54% |
| NAV total return | +2.75% | +1.99% | +11.91% | +15.32% | +22.92% | +13.69% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Cornerstone Total Return Fund, Inc., a closed-end equity mutual fund, operates under the management of Cornerstone Advisors, Inc. Its investment strategy focuses on the public equity markets within the United States, seeking to acquire shares in companies across a diverse array of sectors. The fund primarily allocates its capital to both value and growth-oriented stocks, irrespective of their market capitalization. Furthermore, it has the flexibility to invest via other closed-end investment companies and exchange-traded funds (ETFs). Established on March 16, 1973, and legally domiciled in the United States, its financial performance is benchmarked against the S&P 500 Index.
CEF Explorer research page for Cornerstone Total Return Fund Inc. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.