Hi Woolly. I don't define Smarter Money higher income fund as...

Hi Woolly. I don't define Smarter Money higher income fund as cash enhanced, but as Fixed Income. Therefore, I didn't look at anything in that peer set. If I did, here are my preferred picks with Smarter Money included as a comparison.

I agree about the fixed vs floating argument. But you have to remember that active managers know this too. It all depends on how their portfolios are positioned over time. Plenty of these guys are relatively short duration.

Regarding my view of the Smarter Money team, I will agree it's subjective. But we've interviewed them multiple times and found them wanting in comparison to their peers in the space which we do look at. I know they have ratings from a variety of firms, but in my view, it's not a popularity contest! Those firms are entitled to their point of view. I just happen to think that they are wrong. Research firms should be defined by whom they choose not to rate (if anyone!), than who they do. And in any case, the 5 star Morningstar rating is a wholly backward looking measure of performance. It has nothing to do with the view going forward.