投資組合中的五個收益策略

J.B. Maverick  2016年6月3日

2016年第一季度標準普爾500中表現最好的是公用事業闆塊，這表明投資者正在極其低的利率環境中尋求盈利。當投資者發現很難通過投資單一股票或者基金盈利，例如ETF，他們當中的許多人就會把註意力轉移到尋找投資組合能產生固定收益的方式上。即使在股票或者基金表現良好時，投資者在許多情況下還是多年不能實現收益，因此向投資組合中增加收益投資提供了一個在更短期內獲取投資回報的方式。

在組合中添加債券

在投資組合中增加債券是使投資組合多樣化並減少整體風險和波動性的基本方式。債券投資也能提供固定收益。雖然在債券週期成熟之前不能收回本金，但是投資者在這期間能得到利率收益。

投資者可以選擇政府債券、公司債券、美國國債或者三者的組合。政府債券通常提供免稅的優勢。具有高風險承受力的投資者可以選擇新興市場債券，這些債券提供比美國債券更高的收益率。

選擇分紅股

確保投資組合能獲得固定收益的最簡單方式是選擇分紅股票。即使一個公司的股價沒有大幅度增長，或者即使在下跌，那些分紅公司也會向股東派息，通常是一個月一次或者一個季度一次。

投資者可以通過派息公司列表或者投資派息ETF選擇分紅股票。

投資業主有限合伙制企業

投資業主有限合伙制企業對許多投資者來說是一個不太熟悉的投資方式。業主有限合伙制企業是公開交易的。業主有限合伙制企業被認為是很好的收益投資是因為他們以很高收益率的方式將大量的收益返還給投資者，通常在8%到10%之間，有一些甚至超過20%。

ETF提供最簡單投資業主有限合伙制企業的方式。截止到2016年5月，美國有大約12個業主有限合伙制企業ETF。

投資房地產投資信託

房地產投資信託是通過貸款或者直接擁有資產投資房地產的公開交易證券。 法律規定房地產投資信託需將淨收益的90%支付給投資者。這一法規使房地產投資信託成為投資者收益最高的選擇之一。

投資者可以直接購買房地產投資信託的股票，或者通過ETF購買房地產投資信託的組合。

出售期權

另一個投資者不太熟悉的收益投資是出售看漲或者看跌期權。看漲期權授予投資者在特定價格購買股票或者ETF的權利，被稱為執行價格，而看跌期權授予投資者在設定價格出售的權利。期權的週期有很多種，有適用於股票和ETF的期權。

買家獲得期權出售的溢價。如果一個投資者不再對個別標的投資感興趣，期權出售可能帶有很大的風險，但是如果一個投資者已經擁有個別標的證券，他可能獲得額外的收益，唯一的風險可能是盈利能力受到限制。最常見的一種期權策略是出售有保障的看漲期權，這是一種賦予某個人在未來一定時間內以特定價格購買股票的期權，而賣家已經擁有一部分這種期權的股票。

例如，假設一個投資者擁有當前售價為50美元的某股票100份。該投資者賣出一份70美元購買10000份該股票的期權。最好的情況是期權到期時沒有達到70美元，投資者獲取純粹的利潤。最壞的情況是在期權到期時股價高於70美元，投資者必須以70的執行價格賣出他手中100份股票或者提供現金等價物。投資者也沒有損失多少資金，因為他還是能從70美元價格之前購買的股票和期權中獲利。

5 Income Strategies For Your Portfolio

By J.B. Maverick | Updated June 3, 2016 — 1:19 PM EDT

In Q1 2016, The best performing sector in S&P 500 was Utilities, an implication that the investors are looking for yields in a very low interest rate environment. When investors find capital gains hard to come by through investing in individual stocks or funds, such as exchange-traded funds (ETFs), many of them turn their attention to finding ways to generate some regular income from their investment portfolios. Even when stocks or funds are performing well, in many situations investors won't actually realize those gains for several years, so adding income investments to a portfolio provides a way to obtain investment returns in a much shorter time frame.

Adding Bonds to the Mix

Including bonds in a portfolio is one of the basic ways to create a diversified portfolio that reduces overall risk and volatility. Bond investments also provide regular income. Although the principal amount of a bond isn't returned until the bond matures, bond investors receive regular interest payments until maturity.

Investors can diversify with U.S. Treasury bonds, corporate bonds, municipal bonds or a mix of all three. Municipal bonds often offer the additional advantage of being tax-free. Investors with a higher risk tolerance may consider emerging market bonds that often offer higher yields than domestic U.S. Bonds.

Picking up Dividend Stocks

The easiest way to insure regular income from an investment portfolio is to include some dividend-paying stocks. Even when a company's stock price is not rising substantially, or may even be in decline, most regular dividend-paying companies continue to pay out dividends to shareholders, often quarterly and some even monthly.

Investors can find dividend-paying individual stocks by searching through a list of dividend aristocrats or by investing in dividend ETFs.

Investing in Master Limited Partnerships

One income avenue that may not be familiar to many investors is investing in master limited partnerships (MLPs). MLPs are limited partnerships that are publicly traded. MLPs are considered to be good income investments because they typically return a large amount of their earnings to investors in the form of very high yields, often in the range of 8 to 10%, with some offering yields greater than 20%.

ETFs offer the simplest way to obtain exposure to MLPs. As of May 2016, there were approximately two dozen MLP ETFs.

Including Real Estate Investment Trusts

Real estate investment trusts (REITs) are publicly traded securities that invest in real estate through either mortgages or by directly owning properties. REITs are required by law to pay out 90% of their net earnings to investors. That legal requirement makes REITs one of the highest-yielding choices for investors.

Investors can purchase shares in individual REITs, or they can opt for exposure to a basket of REITs through a REIT ETF.

Selling Options

Another less familiar income investment source is selling call or put options. A call option confers the right to buy a stock or ETF at a given price, known as the strike price, while a put option confers the right to initiate a short sell position at the stated strike price. Options can be purchased with a variety of expiration dates extending out in time for a year or more, and there are options available on individual stocks and on ETFs.

Sellers, or writers, of options receive a premium, which is the cost of the option. Selling options can involve great risk if an investor does not already hold an interest in the underlying investment, but selling options can provide extra income for investors who already own shares of the underlying security, with the only risk being that of potentially capping profitability. One of the most common option strategies is selling covered calls, which offer someone the right to buy shares of stock that the investor selling the option already owns at a given price and within a specified future time.

For example, consider an investor who owns 100 shares of a stock currently selling at $50. The investor sells one option contract, equal to 100 hundred shares, to buy the stock at $70 a share. In the best-case scenario, the stock price does not reach $70 before the option's expiration, and the investor pockets the option price received as pure profit. In the worst-case scenario, where the stock price advances above $70 prior to the option expiring, the investor must sell 100 of his or her shares at the stated strike price of $70 or provide the cash equivalent. The investor hasn't lost any money, since the investor still has the profit of the stock price advance to $70 and the price received for the option.

本文翻譯由兄弟財經提供

文章來源：http://www.investopedia.com/articles/investing/060316/5-ways-make-income-your-portfolio.asp