RCS, a fixed income closed end fund, has an impressive long term performance. LQD, a fixed income ETF, has a solid track record too, but not as impressive. We start off with a focus on RCS and then ...
RCS trades at an unjustified 50%+ premium to NAV, with inconsistent earnings and declining net investment income threatening distribution sustainability. The fund's heavy use of leverage (36.4%) is ...
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