Voya has approved merging IHD (a closed-end fund) into IEMLX (an open-end mutual fund). Because open-end funds must buy and sell shares at their exact Net Asset Value, this structural shift guarantees that IHD's historical discount will disappear when the deal closes. While the initial announcement caused the discount to tighten significantly, investors buying IHD at the current market price can still capture the remaining spread as it narrows.
The Voya Emerging Markets High Dividend Equity Fund offers diversified emerging market equity exposure with a 9.94% yield, focusing on dividend-paying stocks. IHD's portfolio is concentrated in technology, with outsized positions in Taiwan Semiconductor and SK hynix, benefiting from AI-driven demand but increasing sector risk. Despite lackluster price appreciation, IHD outperformed emerging market indices on a total return basis over the past decade, assuming reinvestment of distributions.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
Bulldog Investors Bulldog Investors LLP | 982,438 | $6.12M | $7.32M | $1.2M | 19.58% |
Jennifer Grunberg Allspring Global Investments Holdings LLC | 1.1M | $5.89M | $8.22M | $2.33M | 39.52% |
| CAL CoreCap Advisors LLC CoreCap Advisors LLC | 2,553 | $18,781.68 | $19,070.91 | $289.23 | 1.54% |
| WTM W. Travis McKinney HB Wealth Management LLC | 26,420 | $156,934.8 | $196,829 | $39,894.2 | 25.42% |
Michael Byun SageView Advisory Group LLC | 3,017 | $18,919 | $22,416.31 | $3,497.31 | 18.49% |
| NYSE Exchange | US Country |