In plain terms — Guggenheim Strategic Opportunities Fund
Shares currently cost about 13.7% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 3.4% premium, so today's level is somewhat wide for this fund (Z-score -1.8). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 25.4% a year of the share price (21.9% 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 $1.16 of assets — a ReinvestCapture™ rate of 29.5%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 4.7% over the past year including distributions (NAV total return).
Annual costs are 2.38% of assets, and the fund borrows: about 18% of what it holds is financed with leverage, which magnifies both gains and losses.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -6.17% | 6.58% | -0.77 | 55 |
| 6 months | -1.44% | 6.83% | -1.43 | 108 |
| 1 year | +3.43% | 7.97% | -1.84 | 205 |
| 3 years | +18.24% | — | — | — |
| 5 years | +20.48% | — | — | — |
Current contemporaneous premium/discount -11.23% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -15.45% to +28.05%. 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 | -3.99% | -20.40% | -32.76% | -41.80% | -13.74% | -15.80% |
| Market price total return | -1.97% | -15.91% | -21.98% | -29.62% | +0.96% | -2.50% |
| NAV return | -2.64% | -6.30% | -12.47% | -14.27% | -5.35% | -10.11% |
| NAV total return | -0.87% | -1.23% | +1.93% | +4.69% | +13.80% | +7.13% |
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 Guggenheim Strategic Opportunities Fund, a U.S.-domiciled closed-end balanced mutual fund, commenced operations on November 13, 2006, having previously been known as Claymore/Guggenheim Strategic Opportunities Fund. It is overseen by Guggenheim Funds Investment Advisors, LLC, with Guggenheim Partners Investment Management LLC providing co-management services. This fund pursues investment opportunities across global public equity and fixed income markets. Its equity portfolio construction involves both direct stock purchases and the strategic deployment of derivatives, such as writing covered call and put options. The fund aims for exposure to value-oriented companies of all market capitalizations, spanning diverse industry sectors. The S&P 500 Index serves as its benchmark for equity performance. For its fixed income allocation, the fund targets a range of securities including corporate bonds, various types of loans (including participations), structured finance instruments, and U.S. government and agency debt. A key criterion for these investments is a minimum credit rating of not less than CCC by S&P or Caa2 by Moody's. The Barclays Aggregate Bond Index acts as the benchmark for its fixed income component. The overall portfolio is developed through a methodical fusion of quantitative and qualitative analytical approaches.
CEF Explorer research page for Guggenheim Strategic Opportunities Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.