DHY - DHF: Remains A Fair Choice In The High-Yield Space
2024-03-28 04:39:10 ET
Summary
- BNY Mellon High Yield Strategies Fund has increased its distribution thanks to strong distribution coverage.
- DHF also trades at an attractive valuation, making it a potential option for investors in the high-yield market.
- The fund's performance has been respectable compared to its benchmark, but as a leveraged fund, it will be more volatile.
Written by Nick Ackerman, co-produced by Stanford Chemist.
BNY Mellon High Yield Strategies Fund ( DHF ) is a diversified, high-yield-focused closed-end fund. In our prior coverage , we compared the fund to the Credit Suisse High Yield Bond Fund ( DHY ), given its many similarities. We noted that DHF looked like the better value and had stronger distribution coverage—enough coverage that a raise seemed warranted. Well, that's exactly what happened: they increased their distribution since that update....
DHF: Remains A Fair Choice In The High-Yield Space