All investments can lose money, I think that fact is quite obvious. I never said these were risk-free. The point is to put the time in selecting the right funds and diversifying your risk as much as possible. Long-term bond funds lost money but not shirt-duration funds. Look at the first post where I discuss choosing funds in line with current or expected market conditions. The point of this thread is to discuss different CEFs and look at them as income investments. But they certainly are not risk-free. Due diligence is required and I look at the detailed fund reports as well as the fund annual reports.