Any ETF which mirrors bond UIT?

Must it be an ETF? There is exist "target maturity" open-end bond mutual funds, which like UITs and unlike conventional bond funds, have a maturity date.

How about a leveraged dividend and income fund from Nuveen. The current distribution rate is 7.5%,payable monthly.

Frank

I would wait a few months--Vanguard is planning on some new bond ETFs this year that should suit your needs I've read.

RL

discusses bondETFs.

I am not familiar (in an American context) with a Unit Investment Trust, so I can't directly answer your question.

reading that, they sound very muchlike CEFs.

is a selector which can help you pick out Closed End Bond funds.

Particularly with bonds, risk and return are highly correlated. A fund which is giving a higher yield, is *normally* doing something riskier. Exceptions are during market panics or slumps (closed end fund discounts to NAV increase) *or* if a fund is small (and therefore illiquid).

Thank you all so much. I've read in this group before an explanation of how not to be duped by funds which payout "income" when what they're doing is actually returning part of the principle along with interest & dividends.

This Claymore Series 6 UIT my parents have is paying right around $650 per month consistently every month on a $100,000 purchase, and the value of the UIT shares seem to be increasing slightly and consistently. So for their retirement we're pleasantly surprised, but still leery about not understanding something which the broker hasn't been forthcoming about. So perhaps ETFs aren't the way to go, but in this group and elsewhere I read about them being low cost if they're bought and held, which presumably translates into higher earnings or NAV increases somewhere.

So, again, thanks all for your help.

That does not make sense to me, but I am unfamiliar with the accounting of UITs. It sounds like they invested $100K when interest rates were around 7.8% = (12*650/100000), but if that were the case, the value of the principal should now exceed $100K (there have been capital gains as interest rates fell) and should now be gradually FALLING to $100K because of the "pull-to-par" effect of bonds.