Saba Opportunistically Hedged Closed-End Funds ETF (CEFS) Announces Changes to Distribution Rate and Frequency

Saba Opportunistically Hedged Closed-End Funds ETF (Cboe BZX: CEFS) (the "Fund") today announced changes to the rate and frequency of the Fund's distributions to shareholders, based on the recommendation of the Fund's sub-adviser, Saba Capital Management, L.P. ("Saba"). Effective September 25, 2026, the Fund will seek to pay distributions at an annualized rate of 12% of the Fund's net asset value ("NAV") and will pay distributions quarterly rather than monthly. The first distribution pursuant to the modified distribution policy will be $0.246 per share payable on September 30, 2026 to shareholders of record on September 28, 2026. The ex-distribution date is September 28, 2026. "We are pleased to raise CEFS's distribution rate to 12%, which reflects Saba's conviction in the opportunities we continue to see across the closed-end fund market and our commitment to delivering value to the Fund's shareholders. Moving to a quarterly schedule also provides greater flexibility in managing the portfolio as we pursue attractive risk-adjusted returns through our hedged approach."— Paul Kazarian, Partner and Portfolio Manager, Saba Capital Management, L.P. The Fund expects to pay distributions at a rate based on a fixed percentage of the Fund's NAV at a particular time. The Fund seeks, but cannot guarantee, a total return sufficient, after expenses, to support a 12% annual distribution rate. The distribution rate and frequency may be changed at any time. The Fund's quarterly distributions may exceed the Fund's income and gains, in which case some or all of a distribution may constitute a return of capital ("ROC"). A ROC reduces the amount of a shareholder's original investment and may result in the return to investors of the entire amount of their original investment. A ROC should not be confused with yield or income, and it is not a reflection of the Fund's investment performance. Section 19(a) of the Investment Company Act of 1940, as amended (the "1940 Act"), and Rule 19a-1 thereunder require the Fund to provide a written statement accompanying any distribution paid from a... Read more

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