Blackrock Health Sciences Term Trust has released a presentation comparing the structures and performance of closed-end funds (CEFs) and mutual funds. The document outlines key differences, noting that CEFs raise capital through an initial public offering and trade on national stock exchanges with a fixed number of shares, while mutual funds continuously offer new shares and require liquidity to meet daily redemptions. The presentation highlights that CEFs have greater flexibility to invest in illiquid and alternative securities, tend to employ more leverage than mutual funds, and often offer higher distribution rates across various asset classes. Comparative data on distribution rates between CEFs and mutual funds, based on Morningstar classifications as of September 30, 2025, is provided. You can access the full presentation through the link below.