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Dynamic Premium Yield PLUS Fund Series F (DYN3361 $10.27)
- $10.27 Fwd P/E: 20.4X
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Q: Hello,
I have been reading up on this fund, and comparing it to other covered funds. This one utilizes a strategy whereby they generate income (currently ~ 11% yield) by writing puts. This fund is currently 75% written puts. My sense is that when this strategy is coupled with a long equity strategy, you still have similar downside (less the premiums you receive via selling the puts), but your upside is capped. Works if markets are not overly volatile and remain range-bound. But I think things could go really wrong quite quickly in a volatile downward trending market. It seems to me that the fund is short volatility, which could cause serious distress in the fund vs writing covered calls.
Have I got this right?
Appreciate your thoughts as always.
I have been reading up on this fund, and comparing it to other covered funds. This one utilizes a strategy whereby they generate income (currently ~ 11% yield) by writing puts. This fund is currently 75% written puts. My sense is that when this strategy is coupled with a long equity strategy, you still have similar downside (less the premiums you receive via selling the puts), but your upside is capped. Works if markets are not overly volatile and remain range-bound. But I think things could go really wrong quite quickly in a volatile downward trending market. It seems to me that the fund is short volatility, which could cause serious distress in the fund vs writing covered calls.
Have I got this right?
Appreciate your thoughts as always.
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Dynamic Premium Yield PLUS Fund Series F (DYN3361 $10.27)
- $10.27 Fwd P/E: 20.4X
- View DYN3361 Profile
- View Questions on DYN3361
Q: Dear 5i,
DYN3361, Dynamic Premium Yield Plus Fund.
This fund uses leverage, uses Call and Put option strategies for US stocks.
At the moment they seem to have an overweight with cash-covered Put options.
In general do both Call and Put strategies work in markets that are choppy and there is no trend either up or down? What would you attribute to it's good performance over the last few years?
DYN3361, Dynamic Premium Yield Plus Fund.
This fund uses leverage, uses Call and Put option strategies for US stocks.
At the moment they seem to have an overweight with cash-covered Put options.
In general do both Call and Put strategies work in markets that are choppy and there is no trend either up or down? What would you attribute to it's good performance over the last few years?
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BMO Aggregate Bond Index ETF (ZAG $13.75)
- $13.75 Cap: $7.02B
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Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR $10.08)
- $10.08 Cap: $407M
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CI Investment Grade Bond ETF (FIG $9.46)
- $9.46 Cap: $213M
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PIMCO Monthly Income Fund (Canada) (PMIF $17.98)
- $17.98 Fwd P/E: 11.55X Cap: $2.34B
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Dynamic Premium Yield PLUS Fund Series F (DYN3361 $10.27)
- $10.27 Fwd P/E: 20.4X
- View DYN3361 Profile
- View Questions on DYN3361
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Pender Corporate Bond Fund Class I (PGF550 $11.30)
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PICTON Long Short Income Alternative Fund (PFIA $10.12)
- $10.12 Fwd P/E: 7.62X Cap: $342M
- View PFIA Profile
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BMO Premium Yield ETF (ZPAY $31.49)
- $31.49 Fwd P/E: 52.35X Cap: $336M
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Quadratic Interest Rate Volatility And Inflation Hedge ETF (IVOL $19.39)
- $19.39 Fwd P/E: 19.03X Cap: $342M
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Fidelity Global Core Plus Bond ETF (FCGB.U $16.07)
- $16.07 Fwd P/E: 14.47X
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Q: Please take as many credits as you need to.
I'm so tired of seeing my fixed income portion of my portfolio trickle away. What would you think about equal allocation to the following?
I'm not so concerned with costs if the holding doesn't degrade, but I still want some yield. Please pick it apart and make suggestions. Thanks!
HORIZONS ACTIVE ULTRA SHORT .HFR
RBC CDN DISC BD ETF .RCDB
KRANESHARES TRUST IVOL
PIMCO MONTHLY INCOME FD CDA .PMIF
PENDER CORPORATE BOND FUND .PGF550
FIDELITY GBL CORE PLUS BD .FCGB
BMO PREM YIELD ETF .ZPAY
PICTON MAHONEY FORTIFIED .PFIA
DYNAMIC PREMIUM .DYN3361
BMO AGGREGATE BOND .ZAG
FIRST ASSET INVESTMENT GRADE .FIG
I'm so tired of seeing my fixed income portion of my portfolio trickle away. What would you think about equal allocation to the following?
I'm not so concerned with costs if the holding doesn't degrade, but I still want some yield. Please pick it apart and make suggestions. Thanks!
HORIZONS ACTIVE ULTRA SHORT .HFR
RBC CDN DISC BD ETF .RCDB
KRANESHARES TRUST IVOL
PIMCO MONTHLY INCOME FD CDA .PMIF
PENDER CORPORATE BOND FUND .PGF550
FIDELITY GBL CORE PLUS BD .FCGB
BMO PREM YIELD ETF .ZPAY
PICTON MAHONEY FORTIFIED .PFIA
DYNAMIC PREMIUM .DYN3361
BMO AGGREGATE BOND .ZAG
FIRST ASSET INVESTMENT GRADE .FIG
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