These high-yield ETFs are a smart way to invest in preferred stocks, Bank of America says

Yields for preferred stocks are at their highest level in more than a decade, and investors can use exchange traded funds to capture that income as well as any potential upside, according to Bank of America. Preferred stocks are a type of security that is above common stock in a company's capital structure and often pay higher dividend yields.

Bank of America gave buy-equivalent ratings to three funds in this category: the iShares Preferred and Income Securities ETF , the Global X U.S. Preferred ETF and the VanEck Preferred ex-Financials ETF . Those funds have an average yield of 6.7%, according to Bank of America. Of the three, Global X's PFFD has the lowest expense ratio at 0.23%, and VanEck's PFXF has performed the best this year with a total return of about 6.7% according to FactSet.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank of America Predicts Milds Recession After Fed's Tightening Action – Finance Bitcoin News'Last time I was here was it was the end of, uh, last year and we predicted a recession this year. We moved it out. It's basically third quarter this year, fourth quarter, this year' BofA CEO stated
Source: BTCTN - 🏆 531. / 51 Read more »

Bank of America CEO says the Fed's biggest challenge is power of US consumer | CNN BusinessBank of America CEO Brian Moynihan said although he is relieved lawmakers reached a resolution for the debt ceiling, it is “not good for the United States to go through this.”
Source: CNN - 🏆 4. / 95 Read more »