In plain terms — Cohen & Steers Closed-End Opportunity Fund
Shares currently cost about 3.2% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 0.7% premium, so today's level is somewhat wide for this fund (Z-score -1.5). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.5% a year of the share price (8.2% 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 $1.03 of assets — a ReinvestCapture™ rate of 8.7%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 6.2% 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 | -1.20% | 1.60% | -0.77 | 55 |
| 6 months | -0.10% | 1.69% | -1.38 | 107 |
| 1 year | +0.67% | 2.07% | -1.50 | 208 |
| 3 years | +2.34% | — | — | — |
| 5 years | +1.56% | — | — | — |
Current contemporaneous premium/discount -2.43% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -4.34% to +6.86%. 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 | -2.98% | -9.84% | -6.29% | -5.72% | +6.98% | -2.52% |
| Market price total return | -2.30% | -8.03% | -0.11% | +1.85% | +16.27% | +6.28% |
| NAV return | -2.22% | -6.59% | -3.41% | -1.70% | +8.40% | -1.85% |
| NAV total return | -1.56% | -4.75% | +3.01% | +6.25% | +18.04% | +7.15% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Cohen & Steers Closed-End Opportunity Fund, Inc. is a closed-end fund of funds, launched by Cohen & Steers Inc. and managed by Cohen & Steers Capital Management, Inc. The fund's strategy involves investing in other funds that primarily focus on public equity markets. Additionally, it allocates capital to funds specializing in a diverse range of securities and sectors, including convertibles, preferred shares, high-yield debt, as well as real estate, energy, utility, and various other equity or income-generating strategies. To construct its portfolio, the fund seeks out undervalued opportunities among funds with a market capitalization typically above $200 million. It employs a systematic quantitative analysis approach, complemented by proprietary in-house research, to identify these investments across diversified sectors. The fund's performance is benchmarked against both the S&P 500 Index and the Morningstar U.S. All Taxable Ex-Foreign Equity Index. Established on September 14, 2006, the fund is registered and operates within the United States.
CEF Explorer research page for Cohen & Steers Closed-End Opportunity 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.