Given valuations and where interest rates are headed, you don't want a lot of market risk now, says Eaton Vance Bond manager Kathleen Gaffney.
And not in the good way, as Morningstar's Eric Jacobson cautions that numerous portfolios in the category have proved to be more volatile and have lower returns than some might think.
With investor interest in bank loans at elevated levels, Morningstar's Sarah Bush and Tim Strauts offer their highest-conviction mutual fund and ETF picks for those seeking exposure to this asset class.
With short-term rates remaining low, we don't anticipate an immediate impact on the cost of leverage financing for most CEFs.
The adage is only partially correct.
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