He has held this before, but sold it when the market began to decline. A covered call is good in a flat or rising market, but in a down market it can impede future recovery. The fund usually only has about 50% and its yield is about 8%. He thinks it is worth holding.

He has recommended this before, but it too was hit hard when the market declined. He asked one of the big bond desks about liquidity issues and when they said it was drying up, he sold out. What people need to understand is that bonds trade over the counter, not through an exchange. When the liquidity drives up, this negatively impacts bond values.

He generally does not like preferred shares. It has the risk of a stock and return of a bond. You also have to be concerned about rate resets versus perpetual dividends. He would prefer to sell call options against the banks. He thinks you should focus on the recovery being in the US as Canada is purely a commodity based economy and will take much longer to recover from this.

Healthcare ETF? He likes ZUB as it includes pharma, hospitals and other medical services. It is hedged to the Canadian dollar.

(A Top Pick Apr 02/19, Down 2%) It is a good place to remain. It is diversified in several medical services. He still holds it.