In plain terms — DNP Select Income Fund
Shares currently cost about 6.4% more than the value of the assets behind them (a premium).
Over the past year it has averaged a 7.1% premium, so today's level is not high for this fund (Z-score +0.2). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 7.9% a year of the share price (8.4% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade above the value of their assets, each dollar of reinvested distributions buys about $0.94 of assets — a ReinvestCapture™ rate of 7.5%, less than the payout rate itself. That is buying power, not a return.
The assets themselves grew 4.5% 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 | +10.73% | 1.85% | -1.53 | 64 |
| 6 months | +8.89% | 2.58% | -0.38 | 126 |
| 1 year | +7.08% | 3.56% | +0.23 | 250 |
| 3 years | +7.65% | — | — | — |
| 5 years | +12.38% | — | — | — |
Current contemporaneous premium/discount +7.90% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -0.78% to +13.74%. 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 | -4.00% | -11.34% | -1.40% | -1.70% | +0.37% | -1.68% |
| Market price total return | -3.34% | -9.66% | +4.25% | +5.95% | +8.81% | +6.20% |
| NAV return | -1.07% | -8.51% | +1.20% | -3.55% | +6.87% | -0.22% |
| NAV total return | -0.34% | -6.59% | +7.42% | +4.52% | +16.61% | +8.82% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
DNP Select Income Fund Inc., a closed-end balanced mutual fund initiated by Virtus Investment Partners, Inc., is overseen by Duff & Phelps Investment Management Co. This U.S.-domiciled fund, which began operations on November 26, 1986, allocates capital primarily across public equity and fixed income securities within the United States. Its fixed income component is comprised of bonds, while its equity investments span companies of all market capitalizations, with a particular emphasis on the Utility sector. The fund's performance is evaluated by benchmarking it against the S&P 500 Utilities Index and the Barclays Capital U.S. Utility Bond Index.
CEF Explorer research page for DNP Select Income 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.