CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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ClearBridge MLP and Midstream Fund (CEM)

Specialty Equity Funds - MLP Funds

Data as of Dec. 7, 2018
Current
Market Price $11.67 (+ $0.01)
NAV (Dec. 7, 2018) $12.94 (- $0.01)
Premium / Discount -9.81% (+0.15%)
Fund Info
Inception June 25, 2010
Sponsor Legg Mason Partners Fund Advisors
Website https://www.leggmason....
Phone 1-888-777-0102
NAV Symbol XCEMX
Objective: High total return emphasis on cash distributions; energy MLPs
Related Indexes
12 Major CEF Sectors Index
High Income Index
Equity Income Index
60/40 Balanced (w/ BDCs) Index
Master Limited Partnership (MLP) Fund Index
All Sector Equity CEF Index
Alternative Income Index
Capital & Leverage
Outstanding Shares 70,414,962
Total Assets (Reported: May 31, 2018) $1,656M
Estimated Managed Assets $1,381M
Net Assets $911M
Market Cap $822M
Purchases Turnover 12.03%
Sales Turnover 12.73%
Total Leverage 34.01%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 3.47%
Non Lev Exp Ratio 1.65%
Rel Lev Cost 3.35%
Discount Data
Average Discount (3 Yr) -3.86%
Discount Low(3 Yr) -11.14%
Discount High(3 Yr) 8.87%
Discount Rel Range 6.61%
Comp Discount -0.43
Discount St Dev (1Yr) 3.42
Z-Stat
Z-Stat (6mo) -1.89
Z-Stat (1Yr) -1.86
Z-Stat (3Yr) -2.02
Comp Z-Stat (6mo) -0.74
Comp Z-Stat (3Yr) -0.58
Distribution Data
Market Yield 12.17%
Income Yield 0.00%
Lev Adj NAV Yield 8.19%
Distribution Frequency Q
Current Distribution $0.355
Current Income $0.000
Ex-Date 11/21/18
Payable Date 11/30/18
Div Growth (3yr) -19.32%
Dividend Change -19.3% on 1/25/16
Expected Div 1/22/19
RoC (1yr) 100.00%
RoC (3yr) 58.36%
Tax Dividend Data 2017 2015 - 2017
Income 84.3% 41.6%
ST Gains 0% 0%
QDI 0% 13.9%
LT Gains 0% 0%
RoC 15.7% 58.4%
Volume & Liquidity
Average Daily $ (M) $3,054
Avg Volume 30 day 398,139
Avg Volume 90 day 261,665
Volume Trend 52.16%
Comp Volume Trend 17.26%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
63.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
71.0%
Price Correlation (1yr)
vs. CEFA's Master Limited Partnership (MLP) Fund Index
94.0%
Most Correlated Peer (Mk Pr): EMO 93.0%
NAV - Price Correlation (30 d) 96.9%
NAV - Price Correlation (90 d) 99.0%
NAV - Price Correlation (1 Yr) 90.8%
Price St Dev (1Yr) 26.3%
NAV St Dev (1Yr) 24.7%
Earnings
Earnings / Share (5/31/18) $-0.057
Earn Coverage 0.00%
Earnings Trend Up
UNII / Share (5/31/18) $-1.412
Rel UNII
UNII Trend Up
Performance
NAV Beta (2yr)
vs. S&P 500 (TR)
0.96
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
2.40
NAV Beta (2yr)
vs. CEFA's Master Limited Partnership (MLP) Fund Index
0.94

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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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