High-yield bonds are expensive, but if you absolutely demand high income, here's a closed-end fund to consider.
Highlights from Morningstar's 2014 Target-Date Series Research Paper.
Are the findings accidental?
At midyear 2014, taxable-bond CEF categories like bank loan and high yield--which had strong runs last year--have had muted success, while preferred stock leads the pack.
By hedging currency exposure, this fund greatly reduces volatility that plagues traditional international-bond funds.
International-bond funds are a great way to diversify a fixed-income portfolio, but currency movements can create unnecessary volatility.
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