ETFs that offer one-stop shopping for yield-starved investors, commonly known as multi-asset ETFs, are also becoming part of the income lexicon.
The Guggenheim Multi-Asset Income Index ETF (NYSEArca: CVY) is one of the largest multi-asset exchange traded funds, offering income investors one-stop shopping to an array of income-generating asset classes.
CVY tracks the Zacks Multi-Asset Income Index, which “uses quantitative analysis to select stocks from the Index universe to obtain a representative sample of stocks that resemble the Index in terms of key risk factors, performance attributes and other characteristics,” according to Guggenheim.
Securities currently held by CVY include common stocks, master limited partnerships (MLPs), real estate investment trusts (REITs), closed-end funds and preferred stocks.
“Performance for CVY has been mixed — beating the market handily in some years and losing out in others. But for those investors looking to buy, hold and collect the dividend for the long haul, it’s a pretty good fund,” according to Kiplinger.