High 24.6% yield on Oxford Lane Capital CEF masks heavy losses and falling dividends.

Oxford Lane Capital Corporation (OXLC) offers a tempting 24.6% yield, but investors have lost money due to a 73% drop in share price and a 41% cut in dividends over five years. Despite high payouts, the fund's net asset value has plummeted from nearly $100 to just over $10 in 15 years, reflecting ongoing struggles. The fund invests in risky collateralized loan obligations (CLOs) with high fees, which weigh on returns. This highlights the danger of chasing high yields without considering underlying risks and costs.