While I'm building more of my systematic, high-yield dividend retention engine, the ultimate challenge isn’t just chasing the highest nominal yield… it’s balancing my capital structure priority against macroeconomic interest rate risk. Two popular monthly income vehicles frequently surface on my radar in this domain: the Global X Variable Rate Preferred ETF (NYSE Arca: PFFV) and the First Trust Senior Floating Rate Income Fund II (NYSE: FCT) . While I see both engines turning over predictable monthly cash distributions, they operate on completely different mechanical levels under the hood of my Augmented Income Strategy. Here is my deep structural breakdown of their history, dividend performance, and how I'm evaluating their forward-looking risk profiles. The Underlying Machinery: How I View PFFV and FCT To understand these assets, I have to look closely at where they sit on a corporation's balance sheet. 1. First Trust Senior Floating Rate Income Fund II (FCT) I ...
Systems, Iron, and Yield: Periodical logs on programmatic trading, augmented infrastructure income, and the discipline of a structured life by an algorithmic quant Trader.
A periodical by Michael Medeiros