Inflation is now everyone’s primary concern, including the Fed. A strategy to outpace inflation is to find an income strategy that can keep up. Closed-end funds with high returns are a great way to do this. Virtus AlllianzGI Diversified Income & Convertible Fund is a great option as it has an 8.96% yield and has averaged over 8% in the last 5 years. Calamos Convertible & High Income is also a great option along with Advent Convertible and Income. Investors looking to rely on Treasury inflation-protected securities have gotten hammered because the rising yield has destroyed their value, and TIPS funds have equally suffered.

Finsum: High yield corporate debt is a great pace to look for yield right now, and is less sensitive to Fed risk than many other bonds.