Low volatility on a high-yield bond fund? Swaps are the secret sauce
CDSs have helped Iron Strategic Income Fund steel itself against market gyrations
Turning a high-yield-bond fund into a low-volatility total-return strategy is as easy as sprinkling in some credit default swaps.
Of course, that assumes the portfolio manager is sufficiently skilled in the application of the hedging strategy, which appears to be the case with the $490 million Iro
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