There is some interest rate risk investors need to be aware with CVY and other multi-asset ETFs.

SEE MORE: Multi-Asset ETFs Offer High Yields, But Exposed To Rate Risk

Multi-asset ETFs are now exposed to interest rate risks as many of their underlying holdings are sensitive to rate changes.

For instance, higher short-term rates increases funding costs for REITs, and higher long-term rates could raise book values for existing mortgage REITs. If rates rise, the cost of capital for MLPs would also increase, which would lower distributions on the asset and make the play less attractive.

Other multi-asset ETFs include the First Trust NASDAQ Multi-Asset Diversified Income Index Fund (NasdaqGM: MDIV), iShares Morningstar Multi-Asset Income Index ETF (NYSEArca: IYLD) and the Arrow Dow Jones Global Yield ETF (NYSEArca: GYLD).

“In the end, investors have a dividend ETF that is a one-stop shop for all the “weird” dividend stocks that the market has to offer. Betting on “weird,” however, is also good for income. And CVY kicks out a hefty 5.08% dividend yield,” adds Kiplinger.