投资组合中的五个收益策略

J.B. Maverick  2016年6月3日

2016年第一季度标准普尔500中表现最好的是公用事业板块，这表明投资者正在极其低的利率环境中寻求盈利。当投资者发现很难通过投资单一股票或者基金盈利，例如ETF，他们当中的许多人就会把注意力转移到寻找投资组合能产生固定收益的方式上。即使在股票或者基金表现良好时，投资者在许多情况下还是多年不能实现收益，因此向投资组合中增加收益投资提供了一个在更短期内获取投资回报的方式。

在组合中添加债券

在投资组合中增加债券是使投资组合多样化并减少整体风险和波动性的基本方式。债券投资也能提供固定收益。虽然在债券周期成熟之前不能收回本金，但是投资者在这期间能得到利率收益。

投资者可以选择政府债券、公司债券、美国国债或者三者的组合。政府债券通常提供免税的优势。具有高风险承受力的投资者可以选择新兴市场债券，这些债券提供比美国债券更高的收益率。

选择分红股

确保投资组合能获得固定收益的最简单方式是选择分红股票。即使一个公司的股价没有大幅度增长，或者即使在下跌，那些分红公司也会向股东派息，通常是一个月一次或者一个季度一次。

投资者可以通过派息公司列表或者投资派息ETF选择分红股票。

投资业主有限合伙制企业

投资业主有限合伙制企业对许多投资者来说是一个不太熟悉的投资方式。业主有限合伙制企业是公开交易的。业主有限合伙制企业被认为是很好的收益投资是因为他们以很高收益率的方式将大量的收益返还给投资者，通常在8%到10%之间，有一些甚至超过20%。

ETF提供最简单投资业主有限合伙制企业的方式。截止到2016年5月，美国有大约12个业主有限合伙制企业ETF。

投资房地产投资信托

房地产投资信托是通过贷款或者直接拥有资产投资房地产的公开交易证券。 法律规定房地产投资信托需将净收益的90%支付给投资者。这一法规使房地产投资信托成为投资者收益最高的选择之一。

投资者可以直接购买房地产投资信托的股票，或者通过ETF购买房地产投资信托的组合。

出售期权

另一个投资者不太熟悉的收益投资是出售看涨或者看跌期权。看涨期权授予投资者在特定价格购买股票或者ETF的权利，被称为执行价格，而看跌期权授予投资者在设定价格出售的权利。期权的周期有很多种，有适用于股票和ETF的期权。

买家获得期权出售的溢价。如果一个投资者不再对个别标的投资感兴趣，期权出售可能带有很大的风险，但是如果一个投资者已经拥有个别标的证券，他可能获得额外的收益，唯一的风险可能是盈利能力受到限制。最常见的一种期权策略是出售有保障的看涨期权，这是一种赋予某个人在未来一定时间内以特定价格购买股票的期权，而卖家已经拥有一部分这种期权的股票。

例如，假设一个投资者拥有当前售价为50美元的某股票100份。该投资者卖出一份70美元购买10000份该股票的期权。最好的情况是期权到期时没有达到70美元，投资者获取纯粹的利润。最坏的情况是在期权到期时股价高于70美元，投资者必须以70的执行价格卖出他手中100份股票或者提供现金等价物。投资者也没有损失多少资金，因为他还是能从70美元价格之前购买的股票和期权中获利。

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.

本文翻译由兄弟财经提供

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