John Hancock Tax-Advantaged Dividend Income Fund
Sponsor: John Hancock · Inception Feb 27, 2004 · Pays monthly
Market priceShare price
$22.36
+0.68% (+$0.15)
NAVAsset value per share
$24.98
as of Oct 13, 2026 · Nasdaq NAV symbol
Premium / discountPrice vs. assets
10.49% discount *
Indicative: latest price vs latest reported NAV
Distribution rate (price)Payout rate
8.48%
regular, annualised · on NAV 7.59%
Expense ratioAnnual cost
Not reported
no tagged fee table
LeverageBorrowing
Not reported
senior securities not tagged
Quote status: Market closed — last regular-session price · last trade Oct 15, 2026, 4:00 PM EDT (exchange time, ET) · retrieved Oct 15, 2026, 5:45 PM EDTRegular-session prices; extended-hours quotes are not displayed.
Full portfolio as filed on SEC Form N-PORT for the month ending Jul 31, 2026, filed Sep 25, 2026. 143 positions; weights are percent of net assets as reported. Weights sum to 100.0% — leverage, cash, derivatives and short positions mean totals need not equal 100%. This is a historical report, not a live portfolio.
Top 10 holdings
| # | Security | Type | Country | Weight | Value (USD) |
|---|---|---|---|---|---|
| 1 | American Electric Power Company Inc. | Equity | United States | 2.02% | $27.5M |
| 2 | OGE Energy Corp. | Equity | United States | 2.02% | $27.5M |
| 3 | Ameren Corporation | Equity | United States | 1.98% | $26.9M |
| 4 | Duke Energy Corporation | Equity | United States | 1.92% | $26.1M |
| 5 | BP P.L.C. | Equity | United Kingdom | 1.90% | $25.8M |
| 6 | Kinder Morgan Inc. | Equity | United States | 1.80% | $24.5M |
| 7 | PPL Corporation | Equity | United States | 1.72% | $23.4M |
| 8 | Entergy Corporation | Equity | United States | 1.68% | $22.8M |
| 9 | Black Hills Corporation | Equity | United States | 1.68% | $22.8M |
| 10 | DTE Energy Company | Equity | United States | 1.67% | $22.7M |
Asset class
| Asset class | % net assets | Value |
|---|---|---|
| Equity (common) | 51.98% | $706M |
| Debt | 24.10% | $327M |
| Equity (preferred) | 23.59% | $320M |
| Short-term investment vehicle | 0.33% | $4.5M |
| Derivative (interest rate) | 0.00% | $18.8K |
Country (top 12)
| Country (top 12) | % net assets | Value |
|---|---|---|
| United States | 88.73% | $1.2B |
| Canada | 4.50% | $61.1M |
| United Kingdom | 3.61% | $49M |
| France | 1.36% | $18.5M |
| Spain | 0.79% | $10.7M |
| Switzerland | 0.55% | $7.5M |
| Bermuda | 0.47% | $6.4M |
Region
| Region | % net assets | Value |
|---|---|---|
| United States | 88.73% | $1.2B |
| Developed Europe | 6.31% | $85.7M |
| Canada | 4.50% | $61.1M |
| Offshore domiciles | 0.47% | $6.4M |
Issuer type
| Issuer type | % net assets | Value |
|---|---|---|
| Corporate | 99.34% | $1.3B |
| U.S. GSE | 0.33% | $4.5M |
| Registered fund | 0.33% | $4.5M |
Fair-value level
| Fair-value level | % net assets | Value |
|---|---|---|
| Level 1 | 75.90% | $1B |
| Level 2 | 24.10% | $327M |
Level 3 = valued with unobservable inputs (typically private or illiquid).
Long / short
| Long / short | % net assets | Value |
|---|---|---|
| Long | 100.00% | $1.4B |
| N/A | 0.00% | $18.8K |
All allocation percentages use net assets as the denominator (N-PORT convention). A position's share of invested assets may differ from its share of the whole fund including cash and leverage.
All 143 positions
| Security | Identifier | Type | Issuer | Country | Balance | Units | Value (USD) | Weight | FV level |
|---|---|---|---|---|---|---|---|---|---|
| American Electric Power Company Inc. | 025537101 | Equity | CORP | United States | 215,000 | shares | $27.5M | 2.02% | 1 |
| OGE Energy Corp. | 670837103 | Equity | CORP | United States | 580,000 | shares | $27.5M | 2.02% | 1 |
| Ameren Corporation | 023608102 | Equity | CORP | United States | 245,000 | shares | $26.9M | 1.98% | 1 |
| Duke Energy Corporation | 26441C204 | Equity | CORP | United States | 208,000 | shares | $26.1M | 1.92% | 1 |
| BP P.L.C. | 055622104 | Equity | CORP | United Kingdom | 570,450 | shares | $25.8M | 1.90% | 1 |
| Kinder Morgan Inc. | 49456B101 | Equity | CORP | United States | 760,000 | shares | $24.5M | 1.80% | 1 |
| PPL Corporation | 69351T106 | Equity | CORP | United States | 665,000 | shares | $23.4M | 1.72% | 1 |
| Entergy Corporation | 29364G103 | Equity | CORP | United States | 212,000 | shares | $22.8M | 1.68% | 1 |
| Black Hills Corporation | 092113109 | Equity | CORP | United States | 319,775 | shares | $22.8M | 1.68% | 1 |
| DTE Energy Company | 233331107 | Equity | CORP | United States | 160,000 | shares | $22.7M | 1.67% | 1 |
| FirstEnergy Corp. | 337932107 | Equity | CORP | United States | 460,000 | shares | $22.2M | 1.64% | 1 |
| Evergy Inc. | 30034W106 | Equity | CORP | United States | 266,920 | shares | $22.2M | 1.63% | 1 |
| Verizon Communications Inc. | 92343V104 | Equity | CORP | United States | 464,432 | shares | $21.7M | 1.60% | 1 |
| Eversource Energy | 30040W108 | Equity | CORP | United States | 298,227 | shares | $21.4M | 1.57% | 1 |
| Public Service Enterprise Group Incorporated | 744573106 | Equity | CORP | United States | 265,000 | shares | $20.3M | 1.50% | 1 |
| Alliant Energy Corporation | 018802108 | Equity | CORP | United States | 280,000 | shares | $19.8M | 1.46% | 1 |
| National Grid plc | 636274409 | Equity | CORP | United Kingdom | 241,583 | shares | $19.3M | 1.42% | 1 |
| Enbridge Inc. | 29250N105 | Equity | CORP | Canada | 347,106 | shares | $18.9M | 1.39% | 1 |
| Spire Inc. | 84857L101 | Equity | CORP | United States | 235,000 | shares | $18.8M | 1.38% | 1 |
| The Southern Company | 842587107 | Equity | CORP | United States | 194,925 | shares | $18.4M | 1.36% | 1 |
| American Tower Corporation | 03027X100 | Equity | CORP | United States | 102,746 | shares | $17.8M | 1.31% | 1 |
| ATandT Inc. | 00206R102 | Equity | CORP | United States | 746,849 | shares | $17.4M | 1.28% | 1 |
| Sempra | 816851109 | Equity | CORP | United States | 188,924 | shares | $16.7M | 1.23% | 1 |
| UGI Corporation | 902681105 | Equity | CORP | United States | 455,000 | shares | $16.4M | 1.21% | 1 |
| South Bow Corporation | 83671M105 | Equity | CORP | Canada | 440,000 | shares | $16.3M | 1.20% | 1 |
| Xcel Energy Inc. | 98389B100 | Equity | CORP | United States | 207,000 | shares | $16.2M | 1.19% | 1 |
| Dominion Energy Inc. | 25746U109 | Equity | CORP | United States | 225,000 | shares | $15.6M | 1.15% | 1 |
| Citizens Financial Group Inc. | 174610AQ8 | Debt | CORP | United States | 15,500,000 | principal | $15.4M | 1.14% | 2 |
| Venture Global LNG Inc | 92332YAF8 | Debt | CORP | United States | 15,094,000 | principal | $15M | 1.11% | 2 |
| NiSource Inc. | 65473P105 | Equity | CORP | United States | 325,000 | shares | $14.4M | 1.06% | 1 |
| Huntington Bancshares Incorporated | 446150104 | Equity | CORP | United States | 800,000 | shares | $13.6M | 1.00% | 1 |
| Philip Morris International Inc. | 718172109 | Equity | CORP | United States | 70,500 | shares | $13.5M | 0.99% | 1 |
| Exelon Corporation | 30161N101 | Equity | CORP | United States | 280,000 | shares | $12.8M | 0.94% | 1 |
| NRG Energy Inc. | 629377CU4 | Debt | CORP | United States | 11,825,000 | principal | $12.6M | 0.93% | 2 |
| Algonquin Power and Utilities Corp. | 015857105 | Equity | CORP | Canada | 2,145,700 | shares | $12.5M | 0.92% | 1 |
| Vistra Corp. | 92840MAD4 | Debt | CORP | United States | 11,722,000 | principal | $12.4M | 0.91% | 2 |
| Citigroup Inc. | 172967PE5 | Debt | CORP | United States | 11,955,000 | principal | $12.4M | 0.91% | 2 |
| ONEOK Inc. | 682680103 | Equity | CORP | United States | 135,000 | shares | $12.3M | 0.90% | 1 |
| PPL Corporation | 69351T866 | Preferred | CORP | United States | 253,000 | shares | $11.9M | 0.88% | 1 |
| International Paper Company | 460146103 | Equity | CORP | United States | 290,000 | shares | $11.8M | 0.87% | 1 |
| SBL Holdings LLC | 78397DAA6 | Debt | CORP | United States | 11,975,000 | principal | $11.4M | 0.84% | 2 |
| KKR and Co. Inc. | 48251W500 | Preferred | CORP | United States | 254,370 | shares | $11M | 0.81% | 1 |
| Citizens Financial Group Inc. | 174610AP0 | Debt | CORP | United States | 11,000,000 | principal | $11M | 0.81% | 2 |
| Wells Fargo and Company | 949746804 | Preferred | CORP | United States | 9,000 | shares | $10.7M | 0.79% | 1 |
| Kinetik Holdings Inc. | 02215L209 | Equity | CORP | United States | 210,000 | shares | $10.6M | 0.78% | 1 |
| Citizens Financial Group Inc. | 174610600 | Preferred | CORP | United States | 406,650 | shares | $10.5M | 0.77% | 1 |
| MandT Bank Corporation | 55261F864 | Preferred | CORP | United States | 385,000 | shares | $10.1M | 0.74% | 1 |
| Citigroup Inc. | 172967PC9 | Debt | CORP | United States | 9,800,000 | principal | $10M | 0.74% | 2 |
| NextEra Energy Inc. | 65339F119 | Preferred | CORP | United States | 200,000 | shares | $9.8M | 0.72% | 1 |
| American National Group Inc. | 025676859 | Preferred | CORP | United States | 409,100 | shares | $9.7M | 0.72% | 1 |
| Bank of America Corporation | 06055HAH6 | Debt | CORP | United States | 9,381,000 | principal | $9.6M | 0.71% | 2 |
| The Southern Company | 842587842 | Preferred | CORP | United States | 183,750 | shares | $9.1M | 0.67% | 1 |
| Millrose Properties Inc. | 601137102 | Equity | CORP | United States | 325,000 | shares | $9.1M | 0.67% | 1 |
| NextEra Energy Inc. | 65339F655 | Preferred | CORP | United States | 189,000 | shares | $9M | 0.66% | 1 |
| Fifth Third Bancorp | 316773837 | Preferred | CORP | United States | 344,900 | shares | $9M | 0.66% | 1 |
| TXNM Energy Inc. | 69349HAJ6 | Debt | CORP | United States | 8,900,000 | principal | $8.9M | 0.66% | 2 |
| The AES Corporation | 00130HCK9 | Debt | CORP | United States | 8,796,000 | principal | $8.9M | 0.66% | 2 |
| Pinnacle Financial Partners Inc. | 72348N307 | Preferred | CORP | United States | 337,150 | shares | $8.9M | 0.66% | 1 |
| First Horizon Corporation | 320517840 | Preferred | CORP | United States | 361,425 | shares | $8.9M | 0.66% | 1 |
| Bank of America Corporation | 06055HAB9 | Debt | CORP | United States | 8,690,000 | principal | $8.7M | 0.64% | 2 |
| SCE Trust VII | 783892201 | Preferred | CORP | United States | 361,525 | shares | $8.7M | 0.64% | 1 |
| Strategy Inc | 594972861 | Preferred | CORP | United States | 149,365 | shares | $8.6M | 0.64% | 1 |
| Athene Holding Ltd. | 04686J861 | Preferred | CORP | United States | 355,787 | shares | $8.5M | 0.63% | 1 |
| Sunoco LP | 86765KAE9 | Debt | CORP | United States | 7,925,000 | principal | $8.1M | 0.60% | 2 |
| Pinnacle West Capital Corporation | 723484101 | Equity | CORP | United States | 80,000 | shares | $8.1M | 0.59% | 1 |
| JPMorgan Chase and Co. | 48128BAQ4 | Debt | CORP | United States | 7,820,000 | principal | $8.1M | 0.59% | 2 |
| Huntington Bancshares Incorporated | 446150773 | Preferred | CORP | United States | 320,150 | shares | $8M | 0.59% | 1 |
| Wintrust Financial Corporation | 97650W702 | Preferred | CORP | United States | 302,600 | shares | $7.9M | 0.58% | 1 |
| Wesbanco Inc. | 950810887 | Preferred | CORP | United States | 310,750 | shares | $7.9M | 0.58% | 1 |
| Rogers Communications Inc. | 775109DH1 | Debt | CORP | Canada | 7,750,000 | principal | $7.8M | 0.58% | 2 |
| Synchrony Financial | 87165B400 | Preferred | CORP | United States | 300,825 | shares | $7.8M | 0.57% | 1 |
| The Goldman Sachs Group Inc. | 38141GA38 | Debt | CORP | United States | 7,493,000 | principal | $7.8M | 0.57% | 2 |
| Verizon Communications Inc. | 92343VHN7 | Debt | CORP | United States | 7,725,000 | principal | $7.6M | 0.56% | 2 |
| UBS Group AG | 902613BW7 | Debt | CORP | Switzerland | 7,565,000 | principal | $7.5M | 0.55% | 2 |
| Fifth Third Bancorp | 316773886 | Preferred | CORP | United States | 328,650 | shares | $7.5M | 0.55% | 1 |
| Morgan Stanley | 61761J406 | Preferred | CORP | United States | 300,000 | shares | $7.5M | 0.55% | 1 |
| First Citizens BancShares Inc. | 31959XAG8 | Debt | CORP | United States | 7,290,000 | principal | $7.3M | 0.54% | 2 |
| Lincoln National Corporation | 534187885 | Preferred | CORP | United States | 272,925 | shares | $7.2M | 0.53% | 1 |
| MandT Bank Corporation | 55261F849 | Preferred | CORP | United States | 298,850 | shares | $7.1M | 0.53% | 1 |
| Citigroup Inc. | 17327CBC6 | Debt | CORP | United States | 7,000,000 | principal | $7.1M | 0.52% | 2 |
| First Busey Corporation | 319383600 | Preferred | CORP | United States | 260,000 | shares | $6.8M | 0.50% | 1 |
| JPMorgan Chase and Co. | 48128BAR2 | Debt | CORP | United States | 6,785,000 | principal | $6.8M | 0.50% | 2 |
| Wells Fargo and Company | 95002YAA1 | Debt | CORP | United States | 6,424,000 | principal | $6.7M | 0.49% | 2 |
| TPG Operating Group II L.P. | 872652102 | Preferred | CORP | United States | 292,175 | shares | $6.7M | 0.49% | 1 |
| The Goldman Sachs Group Inc. | 38141GA79 | Debt | CORP | United States | 6,361,000 | principal | $6.6M | 0.48% | 2 |
| The Bank of New York Mellon Corporation | 064058AN0 | Debt | CORP | United States | 6,444,000 | principal | $6.6M | 0.48% | 2 |
| Banco Santander SA | 05971KAQ2 | Debt | CORP | Spain | 5,600,000 | principal | $6.5M | 0.48% | 2 |
| Aspen Insurance Holdings Limited | EP0607309 | Preferred | CORP | Bermuda | 267,325 | shares | $6.4M | 0.47% | 1 |
| MandT Bank Corporation | 55261F823 | Preferred | CORP | United States | 255,000 | shares | $6.3M | 0.47% | 1 |
| Columbia Banking System Inc. | 197236102 | Equity | CORP | United States | 198,333 | shares | $6.2M | 0.46% | 1 |
| SCE Trust VIII | 80620A208 | Preferred | CORP | United States | 265,825 | shares | $6.1M | 0.45% | 1 |
| Oracle Corporation | 68389X204 | Preferred | CORP | United States | 145,350 | shares | $6.1M | 0.45% | 1 |
| LyondellBasell Industries N.V. | N53745100 | Equity | CORP | United States | 95,000 | shares | $5.9M | 0.43% | 1 |
| The AES Corporation | 00130H105 | Equity | CORP | United States | 399,999 | shares | $5.9M | 0.43% | 1 |
| Societe Generale | 83370RAF5 | Debt | CORP | France | 5,675,000 | principal | $5.6M | 0.41% | 2 |
| Telephone and Data Systems Inc. | 879433761 | Preferred | CORP | United States | 290,107 | shares | $5.5M | 0.41% | 1 |
| Canadian Imperial Bank of Commerce | 13607QUM2 | Debt | CORP | Canada | 5,575,000 | principal | $5.5M | 0.41% | 2 |
| The Charles Schwab Corporation | 808513CM5 | Debt | CORP | United States | 5,575,000 | principal | $5.5M | 0.40% | 2 |
| Corebridge Financial Inc. | 21871XAU3 | Debt | CORP | United States | 5,325,000 | principal | $5.4M | 0.40% | 2 |
| CoBank ACB | 19075QAH5 | Debt | CORP | United States | 5,400,000 | principal | $5.4M | 0.40% | 2 |
| The Allstate Corporation | 020002788 | Preferred | CORP | United States | 207,525 | shares | $5.4M | 0.40% | 1 |
| State Street Corporation | 857477CH4 | Debt | CORP | United States | 5,244,000 | principal | $5.4M | 0.39% | 2 |
| PGandE Corporation | 69331C306 | Preferred | CORP | United States | 125,700 | shares | $5.3M | 0.39% | 1 |
| CoBank ACB | 19075QAF9 | Debt | CORP | United States | 5,250,000 | principal | $5.3M | 0.39% | 2 |
| Citigroup Inc. | 17327CAV5 | Debt | CORP | United States | 5,200,000 | principal | $5.2M | 0.39% | 2 |
| First Citizens BancShares Inc. | 31959X400 | Preferred | CORP | United States | 208,200 | shares | $5.2M | 0.38% | 1 |
| CoBank ACB | 19075QAE2 | Debt | CORP | United States | 5,000,000 | principal | $5M | 0.37% | 2 |
| Citigroup Inc. | 172967QJ3 | Debt | CORP | United States | 4,925,000 | principal | $4.9M | 0.36% | 2 |
| Huntington Bancshares Incorporated | 446150BG8 | Debt | CORP | United States | 4,950,000 | principal | $4.9M | 0.36% | 2 |
| Duke Energy Corporation | 26441C501 | Preferred | CORP | United States | 200,000 | shares | $4.9M | 0.36% | 1 |
| Ally Financial Inc. | 02005NCB4 | Debt | CORP | United States | 4,700,000 | principal | $4.7M | 0.35% | 2 |
| NGL Energy Partners LP | 62913M206 | Preferred | CORP | United States | 179,050 | shares | $4.5M | 0.33% | 1 |
| UMB Financial Corporation | 902788405 | Preferred | CORP | United States | 170,375 | shares | $4.5M | 0.33% | 1 |
| Citizens Financial Group Inc. | 174610808 | Preferred | CORP | United States | 180,950 | shares | $4.5M | 0.33% | 1 |
| Farm Credit Bank of Texas | 30767EAF6 | Debt | USGSE | United States | 4,420,000 | principal | $4.5M | 0.33% | 2 |
| JH COLLATERAL | — | Short-term inv. | RF | United States | 447,982 | shares | $4.5M | 0.33% | 1 |
| BNP Paribas | 05602XQS0 | Debt | CORP | France | 4,450,000 | principal | $4.4M | 0.33% | 2 |
| Societe Generale | 83371GAA9 | Debt | CORP | France | 3,900,000 | principal | $4.2M | 0.31% | 2 |
| Banco Santander SA | 05971KAY5 | Debt | CORP | Spain | 4,200,000 | principal | $4.2M | 0.31% | 2 |
| BNP Paribas | 05602XQR2 | Debt | CORP | France | 4,244,000 | principal | $4.2M | 0.31% | 2 |
| KeyCorp | 493267843 | Preferred | CORP | United States | 164,050 | shares | $4.2M | 0.31% | 1 |
| Northwest Natural Holding Company | 66765NAA3 | Debt | CORP | United States | 4,000,000 | principal | $4.1M | 0.30% | 2 |
| The Bank of New York Mellon Corporation | 064058845 | Preferred | CORP | United States | 156,125 | shares | $3.9M | 0.29% | 1 |
| Barclays PLC | 06738ECN3 | Debt | CORP | United Kingdom | 3,510,000 | principal | $3.9M | 0.28% | 2 |
| Bank of America Corporation | 06055HAK9 | Debt | CORP | United States | 3,500,000 | principal | $3.5M | 0.26% | 2 |
| Regions Financial Corporation | 7591EP886 | Preferred | CORP | United States | 196,634 | shares | $3.2M | 0.23% | 1 |
| Banc of California Inc. | 05990K841 | Preferred | CORP | United States | 125,000 | shares | $3.2M | 0.23% | 1 |
| FandG Annuities and Life Inc. | 30190A609 | Preferred | CORP | United States | 145,275 | shares | $3M | 0.22% | 1 |
| KeyCorp | 493267876 | Preferred | CORP | United States | 116,975 | shares | $2.5M | 0.19% | 1 |
| Bank of America Corporation | 06055H202 | Preferred | CORP | United States | 124,650 | shares | $2.4M | 0.18% | 1 |
| Jackson Financial Inc. | 46817M206 | Preferred | CORP | United States | 91,850 | shares | $2.3M | 0.17% | 1 |
| ATandT Inc. | 00206R706 | Preferred | CORP | United States | 125,000 | shares | $2.1M | 0.16% | 1 |
| Alphabet Inc. | 02079K404 | Preferred | CORP | United States | 40,200 | shares | $2M | 0.15% | 1 |
| Telephone and Data Systems Inc. | 879433787 | Preferred | CORP | United States | 96,922 | shares | $2M | 0.15% | 1 |
| Alphabet Inc. | 02079K602 | Preferred | CORP | United States | 26,200 | shares | $1.3M | 0.10% | 1 |
| Pinnacle Financial Partners Inc. | 72348N208 | Preferred | CORP | United States | 46,150 | shares | $1.2M | 0.09% | 1 |
| Array Digital Infrastructure Inc. | 911684702 | Preferred | CORP | United States | 55,925 | shares | $1.1M | 0.08% | 1 |
| Sempra | 816851604 | Preferred | CORP | United States | 45,000 | shares | $938K | 0.07% | 1 |
| Carlyle Finance L.L.C. | 14314C105 | Preferred | CORP | United States | 40,274 | shares | $653K | 0.05% | 1 |
| Array Digital Infrastructure Inc. | 911684884 | Preferred | CORP | United States | 38,625 | shares | $649K | 0.05% | 1 |
| BW Real Estate Inc. | 05614HAA7 | Debt | CORP | United States | 493,000 | principal | $496K | 0.04% | 2 |
| ATandT Inc. | 00206R508 | Preferred | CORP | United States | 4,075 | shares | $73.9K | 0.01% | 1 |
| IRS USD P 3.82 20231226-20261226 | — | Rate deriv. | CORP | United States | 52,200,000 | principal | $18.8K | 0.00% | 2 |
Equities show share counts; bonds and loans show principal amount. Coupon, maturity and ratings are shown where the filing discloses them. Source: SEC N-PORT via market-data vendor re-serve, position-level.
Holdings reports on file
| Report date | Filed | Positions | Σ weight | Net assets (calc.) | Coverage |
|---|---|---|---|---|---|
| Jul 31, 2026 | Sep 25, 2026 | 143 | 100.0% | $1.4B | full |
| Apr 30, 2026 | Jun 25, 2026 | 140 | 100.0% | $1.4B | full |
| Jan 31, 2026 | Mar 30, 2026 | 133 | 100.0% | $1.4B | full |
| Oct 31, 2025 | Dec 29, 2025 | 129 | 100.0% | $1.3B | full |
Net assets here are calculated from position values ÷ reported weights (median across positions), not a reported figure.
CEF Explorer research page for John Hancock Tax-Advantaged Dividend Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.