9.29% Yield For This Junk Bond Closed-End Fund [Seeking Alpha]
Guggenheim Credit Allocation Fund Common Shares of Beneficial Interest (GGM)
US:NYSE Investor Relations:
guggenheiminvestments.com/cef/fund/ggm
Company Research
Source: Seeking Alpha
Summary With still low interest rates and fixed income volatility, high-yield bond funds can make sense. While there is more credit risk involved, the short duration of the underlying portfolio is less susceptible to interest rate sensitivity. The question is whether the Guggenheim Credit Allocation Fund ( GGM ) can offer a sustainable distribution and an acceptable total return that merits investment. As such, we will review this fund’s historical performance and analyze its financial statements. Fund Overview (Source: Fund Factsheet) This fund is a bit of a mixed bag. While they have the distribution well covered and have saved funds in UNII, the NAV performance has been uneven. Perhaps because of the heavy emphasis on junk bonds, the NAV has not retained its value well and the market price is highly correlated. On its own, this high yield CEF is highly unlikely to deliver a positive total return. Diversifying your holdings with treasury bonds and periodic
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