EMO CEF — ClearBridge Energy Midstream Opportunity Fund

ClearBridge Energy Midstream Opportunity Fund (EMO)

EMO is a CEF. its distribution rate is 9.15%, its trailing-12-month yield is 8.03%, its expense ratio is 10.86%. Dividend Vision Distribution Safety Score™ is 97/100 (Safe). Total return is 90.2% over the past 15.3 years, 594.4 points behind SPY at 684.6%.

At the current 9.15% distribution rate, a $10,000 investment would generate approximately $915 per year, or $76.25 per month.

ClearBridge Energy Midstream Opportunity Fund is a closed-end fund that invests primarily in equity securities of energy midstream companies, particularly Master Limited Partnerships (MLPs) with operations in crude oil, natural gas liquids, and refined products infrastructure. The fund targets companies with long-lived assets and predictable cash flows while maintaining relatively low direct commodity exposure, and distributes a high current yield to shareholders on a monthly basis. This fund appeals to income-focused investors seeking regular cash distributions from the energy infrastructure sector.

EMO performance versus SPY

Price and return data through 2026-09-21.

Total return is 90.2% over the past 15.3 years, 594.4 points behind SPY at 684.6%. Over the past year its total return — price change plus distributions reinvested — is 28.6%. Its deepest 1-year drawdown was 10.6%.

EMO key facts

Distribution Safety Score™

97 · Safe

Safety-Adjusted Yield

8.88%

Issuer

ClearBridge

Asset type

CEF

Asset class

Equity

Inception date

06/10/2011

Expense ratio

10.86%

Distribution rate

9.15%

Distribution frequency

Monthly

Trailing yield

8.03%

5-year average yield

7.09

Last close

$53.77 (as of 2026-09-21)

NAV

$59.22

Premium / discount

9.20% discount

Market cap

$1,069,581,696

Average volume

18600.0

Next dividend

$0.41

Next ex-dividend date

09/23/2026

Next payment date

09/30/2026

How Dividend Vision calculates yield and returns

Distribution rate (9.15%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (8.03%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: ClearBridge; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

EMO risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 10.6%.

Who may consider EMO — and who may not

EMO may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from ClearBridge.