I did some research on Boaz Weinstein & Saba. Guy has an interesting background. He is a hedge fund "genius" but question is whether his magic translates into his public/listed funds. This doesn't always work - look at Robert Goldstein and his funds (GSPY, GVLU, etc), Carl Icahn and his investment vehicle (IEP).
In 2021, Saba followed a similar strategy to takeover Voya PPR and turn it into a different hybrid fund BRW. A recent report for BRW shows mix of investments in stocks, bonds, CEFs, cryptos. GIM/SABA will probably do the same on a bigger scale (it’s 4x BRW); for now, the current ER will be maintained but may go up later.
Another unexpected CEF development occurred in 2020 when Franklin Templeton/Franklin/BEN bought Legg Mason whose subsidiary was Western Asset Mgmt. Western had many bond CEFs and this change in control triggered the renewals of all Western CEFs’ advisory contracts. Saba and other CEF activists took advantage of this by buying positions in several Western ETFs that they wanted to target.

M*, about FAGIX: "High yield with a boost from equities." Which might help to explain the lower yield compared to some other junk stuff, like:
PRCPX. 7.21%
TUHYX 7.83%
VWEHX 5.98%
SCYB 9.1%
FFRHX. bank loans. 8.22%
ANGL. fallen angels. 8.07%
FALN. fallen angels. 8.42%
FAGIX 5.53%
So FAGIX does not depend totally on the interest. 15% in equities.

Again. Yes, this has been covered in here already. But for handy reference, again, for the year 2024. We'll file those tax returns in early 2025.
But... OOPS! They forgot to list the 10% bracket, as if it does not exist. But it does.
https://www.investopedia.com/inflation-may-have-lowered-your-federal-taxes-by-usd-1500-8400185?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral
...Because, I see multiple other sources specifically including the 10-percent bracket. Indeed.
https://www.forbes.com/advisor/taxes/taxes-federal-income-tax-bracket/
https://www.axios.com/2023/11/09/irs-tax-brackets-2024-federal-income-taxes

I have been switching from T bills and CDs to buy bond ladder at Fidelity. With a minimum of 100K, one can construct multiple bonds in each rungs.

In Q&A, Powell firmly rejected what the climate-protesters wanted him to do - use the Fed to force banks to somethings that haven't cleared the Congress. Somewhere during the interruption, he also dropped the F-bomb and that is all everyone seems to be reporting.
Speech Text https://www.federalreserve.gov/newsevents/speech/powell20231109a.htm

@Observant1, M* has ANOTHRER piece on "Covered Call Funds" by the SAME author.
https://www.morningstar.com/markets/why-are-covered-call-fund-yields-so-high

ETFs have creation/redemption mechanisms for authorized participants (market makers, think of them as wholesalers). They can trade in-kind with stock/bond-baskets in lots of 50,000+ shares. So, if one wanted to buy multiple times of the daily volume, one would work with the ETF sponsor and/or authorized participant.
Retail investors should keep orders at small fractions of the daily volume, e.g. 5% or 10%, and use limit-orders. No retail buyer should dump a market-order for 10,000 shares for something that traded only 3,800 daily. But this sort of thing does happen in pre/post-market (afterhours) trading that is very illiquid. A market-order of just a few hundred shares can be HUGE for afterhours. Some do it for manipulation that doesn't stick in normal trading.

Can someone explan how all this works? Example. FPAG, newer ETF, ave daily volume 3800 shares. That is low. Say someone wanted to buy $240,000 (~10,000 shares) of the ETF. How would that work, place a limit trade but at what point/spread? Would the ETF fund mgmt then just issue more shares to meet the order (not sure if I stated that correctly)? The price would not be affected like it would it one bought a ton of stock in a company with a low float? Underlying investments in FPAG seem to be very liquid.
How would that work if one owned the quarter million in FPAG, the market got a schmeissing and you wanted to bail, how would that work, due to low volume would there be a problem?
How should one be thinking about a scenario like this?
Baseball Fan

AAII Sentiment Survey, 11/8/23
BULLISH became the top sentiment (42.6%; above average) & bearish became the bottom sentiment (27.2%; below average); neutral remained the middle sentiment (30.2%; near average); Bull-Bear Spread was +15.4% (above average). Investor concerns: Budget; inflation; economy; the Fed; dollar; crypto regulations; market volatility (VIX, VXN, MOVE); Russia-Ukraine (89+ weeks, 2/24/22-now); Israel-Hamas (4+ weeks); geopolitical. For the Survey week (Th-Wed), stocks were up sharply, bonds up, oil down sharply, gold down, dollar down. A huge flip-flop in the Sentiment. Interest rates fell. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/post/1245/thread

https://www.sec.gov/Archives/edgar/data/1018593/000093041323002432/c107259_497.htm
Target funds:
Virtus Seix High Income Fund
Virtus Seix Ultra-Short Bond Fund

I’ve heard I would have to pay a brokerage fee which I wouldn’t have to in a bank IRA.

I've never paid a fee to buy a CD or treasury at Schwab.

A brokered cd has to be sold to the secondary market

Not sure why anyone would consider selling a CD once bought. Especially in 401k or IRA. MM's (now paying ~5.24%) are for liquidity.
I'm not trying to convince you not to follow your plan. I just don't understand your thought process... Not that I need too.

https://www.sec.gov/Archives/edgar/data/1612930/000089418923008289/angeloak497e11-2023.htm
497 1 angeloak497e11-2023.htm 497
Filed Pursuant to Rule 497(e)
Registration No. 333-197427; 811-22980
ANGEL OAK HIGH YIELD OPPORTUNITIES FUND
Class A
ANGEL OAK TOTAL RETURN BOND FUND
Class A
Each, a series of Angel Oak Funds Trust
Supplement to the Prospectus, Summary Prospectuses and Statement of Additional Information (“SAI”),
each dated May 31, 2023
November 8, 2023
Effective immediately, Class A shares of each of the Angel Oak High Yield Opportunities Fund and the Angel Oak Total Return Bond Fund (each, a “Fund”) will no longer be sold to new investors or existing shareholders (except through automatically reinvested distributions). Class A shares of each Fund will continue to be eligible for exchanges from other Angel Oak mutual funds in accordance with the policies in the Fund’s Prospectus.
Please retain this Supplement with your Prospectus, Summary Prospectuses and SAI for future reference.

While not new per se but new for me I've recently (within the last year) placed investments in:
OMFL "The investment seeks to track the investment results (before fees and expenses) of the Russell 1000® Invesco Dynamic Multifactor Index. The fund generally will invest at least 80% of its total assets in the securities that comprise the underlying index. The underlying index is designed to reflect a dynamic combination of “factor investing” strategies that, in the view of the index provider, have historically outperformed other factors during various parts of the economic cycle." (Source M*)
CALF "The investment seeks to track the total return performance, before fees and expenses, of the Pacer US Small Cap Cash Cows Index (the "index"). Under normal circumstances, at least 80% of the fund's total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the index. The index uses an objective, rules-based methodology to provide exposure to small-capitalization U.S. companies with high free cash flow yields." (Source M*)
And CGDV "The investment seeks to produce income exceeding the average yield on U.S. stocks generally and to provide an opportunity for growth of principal consistent with sound common stock investing. Normally, the fund invests at least 80% of its assets in dividend-paying common stocks of larger, more established companies domiciled in the United States with market capitalizations greater than $4.0 billion. It may invest up to 10% of its assets in equity securities of larger companies domiciled outside the United States. The fund is non-diversified." (Source M*)
CGDV is fairly new and I'm hoping they can continue their history of steady to outperformance they've shown with the American Funds mutual funds. Both GCDV and OMFL give me other avenues to follow outside of SPY and QQQ's growthier leanings. I stepped into CALF because Christmas is coming and I don't hold a dedicated small cap offering otherwise.

@Jan, am I understanding correctly? You would rather be in a bank (Ally) CD at 4.5% instead of a brokerage (Fidelity) money market at ~5.2%, and you are worried about brokerage CD's which pay at least an extra 1% over your bank CD - because you want liquidity (not to sell on the secondary market)?
Maybe I'm naïve, but I guess I don't understand the concept of opening an IRA at a bank having little flexibility for investing and less return on savings accounts and CDs. I think msf has a good and reassuring post on brokerage accounts above, but, to each their own...

@Jan, that doesn't sound right.
You can rollover/direct-transfer 401k/403b into a Traditional IRA at bank or fund family or brokerage. Find out where is the problem - at Fido or Ally, then ask for a supervisor. Transfer to bank IRA may be less common (because of lesser flexibility) but it should be doable.
https://blog.lendtable.com/news-and-blog/the-3-best-places-to-roll-over-your-401-k/

Firstly, I have both a savings account and IRA with Ally. I did not realize the IRA was not through their brokerage dept. That is good news as far as I am concerned as it is basically the same as a bank CD meaning I won’t have to deal with selling it to a secondary market if by some chance I have to withdraw - I would have to pay 3 months of interest. I can only put a max of 250k in their IRA fund which is insured by the FDIC.
I want to transfer some of my 401k currently in Fidelity (currently the money market) to Ally but I would have to get in a Brokerage fund which I don’t want to do. Since I definitely do not want a brokerage CD, could I not open a bank IRA in another bank same as Ally? That would give me more liquidity and safety compared to brokerage CDs. Stillers fueled my concern about having to sell my CDs instead of withdrawing quickly albeit paying a penalty.
So I currently have a 4.5% one year CD at Ally which matures in February unfortunately as I would like to get a Ally 5 year CD at 4.1% but having to wait until February will undoubtedly lower that rate.
I would also like to open a bank IRA elsewhere - 5 year term. The rest I will leave at Fidelity as I am still working and our 401k is with them.
Very confusing I know. Any further info would be greatly appreciated!

Insurance is a matter of shifting risk. The more risk you want to shift to the insurance the insurer, the more you have to pay.
If you are certain that you will only need tier 1 drugs, and are willing to assume the risk that you are wrong (i.e. pay a lot more if you need other drugs), then the Wellcare Value Script PDP is cheapest. Lowest premium ($0.50/mo), and tier 1 drugs are "free" (no deductible).
Even if you want to insure against needing tier 2 (non-preferred generics), Wellcare is still the cheapest ($5/mo for tier 2 drugs through preferred providers).
If you want to protect yourself (partially) against paying a lot for tier 3 (and higher) drugs, then the Aetna SilverScript SmartSaver plan comes out a little better. For a yearly premium that's around $110 higher ($9.80/mo vs. $0.50/mo), you get a deductible that's $265 less ($280 vs. $545). Is it worth paying $110 more for the possibility that your total cost will be around $145 less ($265 - $110) in case you need brand name drugs?
That's not a rhetorical question. You have to decide what the odds are and whether the gamble makes sense. IMHO the hundred bucks one way or another isn't enough to fret over. What's more important is what is in each formulary and which tier each drug is placed in (some generics show up in tier 3 in some formularies).
Here are some links for plans in Houston (likely similar throughout Texas):
Wellcare Value Script:
Plan: https://www.medicare.gov/plan-compare/#/plan-details/2024-S4802-155-0
Formulary: https://fm.formularynavigator.com/FBO/67/11_6T_Enhanced_PDP_Comp_Form_24181.pdf
Aetna
Plan: https://enroll.aetnamedicare.com/s/shop?tfn=&ZipCode=77001&CountyFIPS=48201&PlanYear=2024&step=PlanList&ref=am.com&PlanID=S5601-197
Formulary: https://www.aetnamedicare.com/documents/individual/2024/formularies/FORM_2024_24023SS3NGz_EN.pdf
The Humana plans have premiums of around $50/mo (two plans) and over $100/mo (one plan).
What I don't like about either the Wellcare plan or the Aetna plan is that they charge coinsurance (24% or 25%) for preferred brand name drugs. That can get expensive very quickly. But only if you wind up using brand name drugs.
Blue Cross MedicareRx Choice has a $25.60/mo premium and a $545 deductible (applies to tiers 3 and above), but a fixed monthly copay for tier 3 (after deductible) of $46-$47. Is it worth paying $300 more per year (above the Wellcare plan)? That depends on the odds of needing brand name drugs.
https://www.bcbstx.com/medicare/tools-resources/forms-documents/pdp-plan-documents

The 1st question this asks is "do you want info for just a part D plan or an advantage plan. My results, if that's what comes up on this link, is incidental to the posters question.