Special Opportunities Fund, Inc.

Frequently Asked Questions About SPE

What does SPE invest in?

Special Opportunities Fund, Inc., overseen by Bulldog Investors, LLC, operates as a closed-end balanced "fund of funds." This investment vehicle primarily deploys capital into other closed-end funds that hold positions in public equity and fixed-income securities. Its investment methodology is characterized by a blend of value-driven, opportunistic, and special situations strategies. The fund's performance is benchmarked against the S&P 500 Index. Historically, it was known as the Insured Municipal Income Fund, Inc. Formed on February 18, 1993, the fund is domiciled in the United States.

What is the expense ratio of SPE?

Special Opportunities Fund, Inc. (SPE) charges an expense ratio of 1.86%. This is the annual fee deducted from fund assets to cover management and operations.

What is SPE's dividend yield?

SPE's trailing-twelve-month yield is 20.22%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of SPE?

Effective duration measures SPE's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. SPE's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of SPE?

SPE's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of SPE?

Yield to maturity (YTM) is the total return you'd earn from SPE if every bond in the portfolio is held to maturity at the current price. SPE's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.