Yields are a seemingly easy to understand attribute of investments, making them a focal point for many investors.

The salience of yield is no secret to financial product manufacturers, resulting in products being manufactured and marketed based on their high distribution yields.

But distribution yields are not investment returns, they are not sufficient to assess expected returns, and, in the way that they are used to market financial products, often to unsophisticated investors, they can be misleading.

References: https://zbib.org/7ac95140522c4bf69d60...
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