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MJ DeMarco
I followed the science; all I found was money.
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However, seeing so much capital being returned in FAX makes me question the overall health of the fund.
Good catch.
This is why I haven't owned FAX for at least 3 years.
Once ROC started happening more and more, I got out. That usually happens when the income from the fund can't meet the distribution level. Instead of lowering it (that scares people even more) they do a ROC.
I don't fully understand the math behind it, but for me, it's more of a conceptual thing that I usually perceive as a concern.
Conversely, seeing all of MZA's distributions categorized as Income makes me conclude that it is doing as well as, or better than, expected.
Yes, and that's why I go in and out of that fund, for now.
Things can always change though, like interest rates.