What does the fund invest in?

High-yield securities: option-income funds, real estate investment trusts, closed-end funds, and a small index sleeve. Holdings are listed in Canada and the United States; the fund keeps its books in Canadian dollars.

How risky is it?

The value of the fund can go down as well as up. One way to gauge risk is volatility: how much its returns swing over time.

How has the fund performed?

Net asset value per unit since launch

How has the yield lied?

Every holding here was bought for its income, and income is the easiest number in finance to flatter. A fund can pay you back your own money and call it a distribution. So we put what the fund was paid next to what it actually earned.

By family, since we bought

Sold for paying more than they earned

Who is the fund for?

Its two owners, who:

• want to learn how high-yield investments behave, with real money and low stakes
• would rather see a bad number than a flattering one
• can handle a fund that is down while it pays out every week

How much does it cost?

Nobody is paid to run this fund. Its costs are what the brokerage takes, measured from the fund's own records.

The funds we hold charge their own fees. Those come out of their prices, so they are already inside the returns above.

What if I change my mind?

Units are issued only to the fund's two owners, at the net asset value worked out before their money is recorded, and the ledger is reconciled against the brokerage account before any units are issued. There is no one else to sell to, and no one else to refund.