Some investors are attracted to covered call funds because of their high income yields and seemingly high riskadjusted returns. However, the appearance of high income and high riskadjusted returns is the result of clever financial product design, not of actual improvements to returns or riskadjusted returns.

Episode 171 with Campbell R. Harvey:    • RR #171  Campbell R. Harvey: The Pas...  

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Portfolio Growth chart. Source: portfoliovisualizer.com