If a closed-end fund share sells at a constant 20% discount, its dividend yield compared to a comparable open-end share will be

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The dividend yield of the closed-end fund share will be higher than that of the comparable open-end share. This is because the closed-end fund share is selling at a constant 20% discount, meaning that its price is lower than the underlying value of its assets. As a result, its dividend yield (which is calculated by dividing the annual dividend by the share price) will be higher than that of the comparable open-end share, which is not subject to such a discount.

If a Closed-End Fund Share Sells at a Constant 20