Advent Convertible &ome Fund (Advent Convertible &ome Fund) GF Value Rank : 0 (As of Jun. 10, 2024)

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What is Advent Convertible &ome Fund GF Value Rank?

Advent Convertible &ome Fund has the GF Value Rank of 0.

The GF Value Rank is determined by the price-to-GF-Value (P/GF Value) ratio, a proprietary metric calculated based on historical multiples along with an adjustment factor based on a company's past returns and growth and future estimates of the business' performance.

GuruFocus found that for valuation, we cannot simply give stocks a better GF Value rank simply because they have a lower P/GF Value ratio. Backtesting shows that over the long term, the two worst-performing groups are the most expensive group (with the highest P/GF Value ratio) and the least expensive group (with the lowest P/GF Value ratio).

We can understand why the most expensive group underperforms. We were initially puzzled by the underperformance of the least expensive group, but we realized there is a reason why some stocks are super cheap. If they look too undervalued, it is often because the businesses behind them are poor quality. The market realized this and gave them low valuations. In a way, the market is efficient.

After multiple backtesting analyses, we granted the stocks in third-cheapest percentile the highest GF Value rank, as they have performed the best over a full market cycle. Stock performance is actually not as sensitive to valuation as it is to growth and profitability. On average, the companies in the 20%-50% valuation groups have similar performances. Therefore, we should avoid the most expensive and the least expensive stocks. We can be more tolerant of valuation.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Advent Convertible &ome Fund GF Value Rank Related Terms

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Advent Convertible &ome Fund (Advent Convertible &ome Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Advent Convertible & Income Fund (NYSE:AVK) » Definitions » GF Value Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

888 Seventh Avenue, 31st Floor, New York, NY, USA, 10019

Website

http://www.guggenheiminvestments.com

Advent Convertible & Income Fund is a diversified, closed-end management investment company. The fund's investment objective is to provide total return through a combination of capital appreciation and current income. The Fund invests in various sectors, such as communications, utilities, energy, industrial, technology, and others.

Executives

Tracy V Maitland	officer: President, other: Trustee	10865 AVENUE OF THE AMERICAS,, 31ST FLOOR, NEW YORK NY 10018
Nancy E. Stuebe	director, other: Trustee	227 W MONROE STREET, CHICAGO IL 60606
Advent Capital Management /de/	other: Investment Manager	888 SEVENTH AVENUE, 31ST FLOOR, NEW YORK NY 10019
Stephen Ellwood	officer: CCO & Secretary	888 SEVENTH STREET, 31ST FLOOR, NEW YORK NY 10019
Olin Kathleen Capital Management	officer: CCO and Secretary	888 7TH AVENUE 31ST FLOOR, NEW YORK NY 10019
Randall C Barnes	director, other: Trustee	2455 CORPORATE WEST DRIVE, LISLE IL 60187
Gerald L Seizert	director, other: Trustee	10865 AVENUE OF THE AMERICAS,, 31ST FLOOR, NEW YORK NY 10018
Michael A Smart	other: Trustee	10865 AVENUE OF THE AMERICAS,, 31ST FLOOR, NEW YORK NY 10018
Derek Medina	director	ABC NEWS, 47 WEST 66TH STREET, NEW YORK NY 100123
Tony Huang	officer: V.P. & Assistant Secretary	227 WEST MONROE STREET, CHICAGO IL 60606
Saba Capital Management, L.p.	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Boaz Weinstein	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Daniel Black	director, other: Trustee	C/O ADVENT CAPITAL MANAGEMENT, LLC, 1065 AVENUE OF THE AMERICAS, 31ST FLOOR, NEW YORK NY 10018
Ronald Nyberg	director	10865 AVENUE OF THE AMERICAS,, 31ST FLOOR, NEW YORK NY 10018
Doug Teresko	other: Managing Director	1271 AVENUE OF THE AMERICAS, 45TH FLOOR, NEW YORK NY 10020