Rick Konrad, director of value strategies at The Roosevelt Investment Group says that closed-end funds have some natural advnatages over traditional mutual funds and ETFs when it comes to investing with a value bent, and while he uses all of the various types of investments, he makes a case for how and why an investor might want to pay up -- in terms of expense ratios and portfolio costs -- for closed-end funds and business-development companies because it can pay off in superior long-term returns.