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JNK - FSD - Paying More Than It Should Getting Shafted By Rates
SPDR Bloomberg Barclays High Yield Bond
First Trust High Income Long/Short Fund (FSD) is a fixed income CEF focusing on US high yield.
The CEF has an annual NAV give-up of around -2%, as seen in the past decade.
What is particular about this CEF is the fact that the vehicle employs a long/short strategy where the fund is long securities it thinks will outperform while shorting weaker credits.
The fund is down more than -13% this year from rising rates given its 5.74 years duration.