Many of the closed-end funds are trading at a discount to NAVs. When these funds trade at a discount they are considered to be cheap. Closed-end funds can be swing wildly during volatile markets such as the one investors are enduring.

The following are five cheap closed-end funds:

1.New Germany Fund (GF)
Discount to NAV: (21.57%)

2. Spain Fund (SNF)
Discount to NAV: (14.62%)

3.Malaysia Fund (MAY)
Discount to NAV: (11.45%)

4.Mexico Fund (MXF)
Discount to NAV: (9.43%)

5.Korea Fund (KF)
Discount to NAV: (5.73%)