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@humblejalopy High yield in a bond ETF comes from high coupons paid by businesses on bonds they issue. In theory, the more creditworthy an issuer, the lower the interest rate the market will demand from them on their bonds. So for high yield bonds to work, investors rely on the ability of...

@chris3 I think it means ‘have these particular pensionable/Roth IRA/etc assets been used to purchase an annuity [Y], or are they currently still held in a product / account / wrapper with significant exposure to market risk-facing assets [N] Annuities are, essentially, a right to receive...