CEFSvsGNMAETF Comparison
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Saba Closed-End Funds ETF (CEFS) belongs to the Multi-Asset: Other segment. iShares GNMA Bond ETF (GNMA) is part of the MBS & ABS segment. CEFS's top 2 sector exposures are Non-Corporate and Finance. In contrast, GNMA's top sector exposures are Industrials and Non-Corporate. CEFS is more expensive with a Total Expense Ratio (TER) of 2.61%, versus 0.11% for GNMA. CEFS is up 17.21% year-to-date (YTD) with +$34M in YTD flows. GNMA performs worse with 0.43% YTD performance, and +$42M in YTD flows. Run a side-by-side ETF comparison of CEFS and GNMA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CEFS vs GNMA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CEFS GNMA | +3.12%+0.49% | +1.42%-0.60% | +17.21%+0.43% | +22.48%+3.12% | +77.60%+13.77% | +92.90%+1.97% |
| Flows | CEFS GNMA | +$3M+$13M | +$18M+$13M | +$34M+$42M | +$76M+$71M | +$227M+$130M | +$282M-$6M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CEFS GNMA | +10.62%+4.53% | +9.18%+4.03% | +10.55%+5.69% | +12.21%+6.47% |
| Max drawdown | CEFS GNMA | -4.11%-1.84% | -4.75%-2.69% | -12.48%-5.77% | -16.51%-15.75% |
| Max drawdown duration | CEFS GNMA | 51d63d | 41d183d | 104d89d | 436d1452d |
Trading data
CEFS | GNMA | |
Last sale 9/1/2026 at 1:30 PM | $25.29 | $43.06 |
| Previous close 08/31/2026 | $25.29 | $43.55 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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CEFS
is actively managed and doesn’t replicate an indexCEFS | GNMA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
CEFS | GNMA | |
|---|---|---|
| Last price | $25.29 | $43.06 |
| 1D performance | -0.00% | -1.13% |
| AuM | $438.21 M | $434.77 M |
| E/R | 2.61% | 0.11% |
Characteristics
CEFS | GNMA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Saba Capital | iShares |
| Benchmark | - | Bloomberg U.S. GNMA Bond Index |
| N° of holdings | 24 | 105 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 21, 2017 | February 14, 2012 |
| ESG | No | No |
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Exposure
Countries
CEFS
USA
35.86%
Other
64.14%
GNMA
USA
48.57%
Other
51.43%
Sectors
CEFS
Non-Corporate
35.41%
Other
64.59%
GNMA
Industrials
38.88%
Non-Corporate
9.69%
Other
51.43%
Diversification
CEFS
Total weight of top 15 holdings out of 15
58.26%
GNMA
Total weight of top 15 holdings out of 15
35.18%
Top 15 holdings
Data as of July 31, 2026
CEFS
US09260K1016
11.41%
Virtus Dividend Interest & Premium Strategy Fund
6.95%
ASA Gold & Precious Metals Ltd.
6.61%
BlackRock ESG Capital Allocation Term Trust
4.82%
US7809151043
3.58%
US36242H1041
3.24%
US3688021043
2.91%
PIMCO Dynamic Income Strategy Fund
2.90%
Neuberger Next Generation Connectivity Fund Inc.
2.57%
US6706EW1000
2.51%
US64129H1041
2.39%
US92835W1071
2.25%
US5928351023
2.16%
BlackRock Technology & Private Equity Term Trust
2.05%
US8954361031
1.89%
GNMA
BlackRock Cash Funds - Treasury
9.69%
G2 MA7192, 2% 20feb2051, USD (ABS)
2.75%
US3618N5XQ77
2.68%
US21H0426872
2.19%
US36179WTX64
2.02%
G2 MA8878, 5% 20may2053, USD (ABS)
1.77%
G2 MB0025, 5% 20nov2054, USD (ABS)
1.73%
US36179WJR07
1.72%
G2 MA8801, 5.5% 20apr2053, USD (ABS)
1.69%
G2 MA7880, 2% 20feb2052, USD (ABS)
1.69%
G2 MA6864, 2% 20sep2050, USD (ABS)
1.52%
US36179WLP13
1.49%
US36179WFG87
1.47%
US3617NWEY42
1.39%
US36179WVT25
1.36%
Frequently asked questions about CEFS and GNMA
How have the CEFS and GNMA ETFs performed in 2026?
As of August 31, 2026, CEFS is up 17.21% year-to-date (YTD), while GNMA has returned 0.43%. That puts CEFS better performer ahead so far this year.
Which ETF is attracting more investor money: CEFS or GNMA?
Year-to-date, the CEFS ETF saw +$34M in flows, compared to +$42M for GNMA.
Which ETF is more volatile: CEFS or GNMA?
Over the past year, CEFS had a volatility of 9.18%, while GNMA experienced 4.03%.
Which ETF is bigger: CEFS or GNMA?
As of August 31, 2026, CEFS holds $438.21 M in assets under management (AUM), while GNMA manages $434.77 M.
What sectors do the CEFS and GNMA ETFs invest in?
CEFS leans toward sectors like Non-Corporate. Meanwhile, GNMA focuses on Industrials and Non-Corporate.
What are the top holdings of the CEFS ETF and GNMA ETF?
CEFS top holdings include US09260K1016, Virtus Dividend Interest & Premium Strategy Fund and ASA Gold & Precious Metals Ltd.. GNMA holds in its top three: BlackRock Cash Funds - Treasury, G2 MA7192, 2% 20feb2051, USD (ABS) and US3618N5XQ77.
Which ETF is more diversified: CEFS or GNMA?
CEFS holds 71 securities with 58.26% of its assets in the top 15. GNMA has 348 securities and a top 15 weight of 35.18%.
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