P.S. abter 1

On another post you stated that one of the possible disadvantages of KMR v KMP was a possible decline in price from the x date to the receipt date thereby getting a lower sales price for the distributed shares. These shares like money and water in a bathtub are fungible. If I own 100 shares and a distribution goes x for 2 shares I can sell on the x date 2 of my 100 leaving me with 98 shares. When the 2 share distribution is received this will restore my position to 100 shares.

Several posts have concentrated on whether KMR has had or will have a better total return than KMP. I take the same position here as I do with a closed end fund selling at a discount, say 20%. Many argue that nothing will be gained if the purchased shares remain at a 20% discount. I disagree. Assume I can buy a stock with an NAV of $10 for $8. Further assume it earns and distributes a 10% market return of $1. I will be earning a return of 12.5% v the market of 10% regardless as to whether the discount narrows. If the discount narrows then this is "frosting on the cake".