SMHB - SMHB: 15% Current Yield And Diversification

• Recent market declines in various sectors including the mREIT and BDC sectors have brought the current annualized monthly compounded yield on SMHB to 15%.
• With 100 individual securities, SMHB provides significant diversification with regard to individual company idiosyncratic risk.
• By including mREITs, equity REITs, business development companies and various companies in different industries, SMHB provides some macroeconomic diversification.
• Leveraged ETNs such as SMHB have various additional risks in addition to the rebalancing and acceleration risks.
• A 15+% current yield is very hard to achieve today, unless one is willing to accept severe credit risk. Since all of the SMHB components pay dividends, they likely do not have severe credit risk.

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