You are expressing that yield as at today's price for AFI but...

You are expressing that yield as at today's price for AFI but given it goes ex-divvie in a week's time the yield is closer to 4.2 or 4.3%. Of course it is riskier to hold a small selection of blue chips than it is to hold AFI. They do some trading with some of their funds as well, helping to up the asset backing but proportionately very little. So basically your question is a valid one and your comment on doubling up also valid. I trade AFI a bit these days, but not much gain to be made unless lots of $$$s are outlaid. I also thought that AFI had a stock of undistributed imp.credits which is a safeguard I like. I can't hold them in my annuity (not permitted) but I hold a goodly number of these in my own name as I enjoy the dividends and the imp.credits are largely refundable due to low(ish) income in my own name. I am self-funded retiree. Probably not much help to you, sorry.