Nice to know Brumbie. IMHO as an aside, personally ETF's are a...

Nice to know Brumbie. IMHO as an aside, personally ETF's are a hard call especially if they have a US investment base. The only one I have is FOOD (maybe a bit obvious) and it's annual return for me has been 7.30% to date. My experience is that Tech & Financial ETF's seem to be a minefield over time. In regard to bonds I prefer preference shares for their relative return stability; their capital gain movement is based basically on their maturity date (AYUPA was a one time perpetual opportunity that the market missed, again IMHO). When the market rate catches up and stabilises above 7% will be the time to consider selling. I invest in preference shares at close to their $100 issue price and hold to maturity as required. I consider them somewhere to hold cash like bank deposits and debentures in the old days but as an important part of my portfolio. Cheers.