@ron. Someone else explained it to me this way:
I'm in ET, a similar midstream MLP. The K-1 is required, but don't ask me why. Too complicated for me. Anyhow, I'll just let my tax guy deal with it. My tax returns are very simple, otherwise. ...
.....So, the other fellow responded to my questions, offering this response. I'm paraphrasing from memory: in the case of such a LP (Limited Partnership,) when dividends are paid, it is a return of your own capital. And it is un-taxed. If you ever receive enough dividends to make-up for your own cost, then those dividends would be taxable. But will you ever get there? Since the profit is untaxed as long as you own it, he plans simply never to sell it. Let the heirs worry about the rest..... That's far from a thorough answer, but he told me enough so that I was able to make an informed decision. And you might check out ET, too, along with EPD.

No 1x
Been using 3x
Gush ( flow warket)
Drip ( against market)

Once upon a time there was a fund company that offered 1.25x funds, figuring the relatively low multiplier might hit a happy medium between increased returns on good days and the adverse cumulative effects ("beta decay") of leverage in volatile markets.
It was called Potomac Funds. Here's their paper on the 1.25 approach.
https://web.archive.org/web/20050518025112/http://www.potomacfunds.com/data/125_approach.pdf
The company didn't succeed and in 2006 decided to change direction (Direxion). Instead of offering the least leveraged funds in the industry, it would offer the most leveraged at the time (2.5x).
https://www.fa-mag.com/news/article-192.html?issue=70
It seems that wasn't enough. So in 2008 it launched a series of 3x ETFs (including inverse 3X).
https://www.etf.com/sections/features/5063-direxion-exec-offers-three-times-the-leverage.html?nopaging=1
Direxion even tried selling a 1X bear energy ETF (ERYY), but that lasted only between early 2016 and late 2017. And its clean energy ETFs were never launched.
In addition to changing from conservative (1.25) to ultra, hyper leverage (3x), Direxion tried yet another path. (No, not ETNs, that would be iPath.) It offers leveraged funds that rebalance monthly rather than daily. This is another approach to providing leverage while reducing the problem of daily beta decay. Monthly rebalancing still doesn't work for long term investors, but might work in the intermediate term.
From the Journal of Accountancy, Daily vs. monthly rebalanced leveraged funds

Several academic studies have also pointed out how these [daily rebalanced] leveraged fund’s multiples decay over time [citations omitted]. The message apparently has been received as the implied holding period for most of these funds is now less than a week. The overriding conclusion is that even under ideal conditions, holding daily rebalanced leveraged funds beyond a few months will almost certainly lead to disappointment in terms of maintaining the leverage ratio.
In answer to this drawback, Direxion changed their daily leveraged mutual funds to monthly leveraged funds in September of 2009. [Their OEFs are rebalanced monthly, their ETFs daily.]
...
When the market is relatively volatile, both daily and monthly leveraged funds will likely underperform just holding the underlying index. Thus, even monthly leveraged funds should not be considered for the typical buy and hold investor. For intermediate-term or active investors, monthly leveraged funds do have added value and are a nice alternative to daily leveraged funds.

https://www.aabri.com/manuscripts/10676.pdf
https://www.direxion.com/mutual-funds

It is doing exceptionally well, but pay attention to the returns for each calendar year from 2015 to 2019: https://morningstar.com/funds/xnas/pqtix/quote This fund does well when managed futures funds do well and they usually need definitive trends in capital markets to do so. They hop on the trend up or down and ride it like a surfer. A small allocation can make sense, but probably not too much.

With .75, I think the market rallies, at least short-run. With 1%, look for a strong rally. Anything less than .75, the market tanks more.

Not too bad considering its Fidelity and Vanguard peers are down a good bit more:l
TRAIX (I class of PRWCX) (14.95%)
FBALX (19.09%)
FPURX (17.36%)
VWENX (17.55%)
and outperforming S&P 500 substantially

DODBX is down 10.56% YTD (lags farther out). I’ve got $$ in both.
There’s a lot of ways to slice & dice it. As I recall PRWCX lost 28% in all of 2008, so it’s already down more than 50% of that loss in 5.5 months. Arguably, things were much worse in 2008. There’s some swagger with Giroux. So I like to nit-pick his management a bit. D&C employs more of a team approach. Giroux did predict in the

Barron’s year-end “round-table” that the 10-year wouldn’t finish the year above 2.5%. Made quite a point of it. Ahh … We’ll see on that one. And griping about Amazon’s management hardly seems becoming of someone with all his supposed talent. Man-up. You went overboard / overweight on one of your worst picks! More humble managers would say as much.

Yes, DODBX is outperforming ytd, but over 3 and 5 years. TRAIX has considerably outperformed, especially over the last 5 years, per Morningstar.:
DODBX 3yr. 7.99%. 5 yr. 7.01%
TRAIX. 3yr. 8.80% 5 yr. 9.66%

Not too bad considering its Fidelity and Vanguard peers are down a good bit more:
TRAIX (I class of PRWCX) (14.95%)
FBALX (19.09%)
FPURX (17.36%)
VWENX (17.55%)
and outperforming S&P 500 substantially

DODBX is down 10.56% YTD (lags farther out). I’ve got $$ in both.
There’s a lot of ways to slice & dice it. As I recall PRWCX lost 28% in all of 2008, so it’s already down more than 50% of that loss in 5.5 months. Arguably, things were much worse in 2008. There’s some swagger with Giroux. So I like to nit-pick his management a bit. D&C employs more of a team approach. Giroux did predict in the Barron’s year-end “round-table” that the 10-year wouldn’t finish the year above 2.5%. Made quite a point of it. Ahh … We’ll see on that one. And griping about Amazon’s management hardly seems becoming of someone with all his supposed talent. Man-up. You went overboard / overweight on one of your worst picks! More humble managers would say as much.

If FED raises by .75%, markets likely rally tomorrow. A 1% move likely results in a larger rally. Anything less than .75 and I think the markets drop more.

@rforno - Sounds logical. I’m thinking a half point rate hike. But language designed to ease the market stresses. Potentially a rebound Wednesday - if only short lived.
It feels more like “investing” now. Things got too damn easy for a few years. :)
Sorry for those in crypto. Afraid a lot of inexperienced people got suckered in by the lure of easy money. And their losses may greatly affect the economy going forward.
Side note: Amazon got slammed. PRWCX now down 15.35% YTD.

Not too bad considering its Fidelity and Vanguard peers are down a good bit more:
TRAIX (I class of PRWCX) (14.95%)
FBALX (19.09%)
FPURX (17.36%)
VWENX (17.55%)
and outperforming S&P 500 substantially

5-Yr TIPS auction is next week Thursday. IMO, they are the next best to I-Bonds.
https://www.mutualfundobserver.com/discuss/discussion/comment/150182/#Comment_150182
Real rates are up too and 5-yr real rate is 0.45%.
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_real_yield_curve&field_tdr_date_value_month=202206

CDs are attractive relative to money market. The 18-month ladder that @Tarwheel suggested is near the sweet spot. When the rates go higher later this year (several more rate hikes are anticipated), start a second CD-ladder. Will check out our local banks and credit unions.
I bonds are also great, but only wish one can buy more than $10K per year (plus $5K additional from previous year tax refund).

If this was posted previous , my apology.
https://www.barrons.com/advisor/articles/sec-charles-schwab-robo-advisor-cash-allocation-51655134638
ADDED : As it stands now ,investors should be happy they had to much allocated in saving account ! Maybe Chuck will appeal ?!

VYM is paying a 2.72% dividend. SPY is paying 1.38%.
Not sure if ETFs of mutual funds adjust the dividend daily like a stock does so this dividend payout percentages may be stale.

I got into cryptolending last fall and closed out my position earning 7% over a month ago when things first getting a bit ... bumpy in cryptoland. The timing was right as I needed the play money to help pay for home rennovations. lol (Some places offered 15, 20, 25% interest, which I avoided like the plague!)
Anyway, one of my biggest concerns that got me to punch out was counterparty risk with firms lending to other firms lending to other firms and levering up along the way. So at the moment, seeing the various crypto exchanges laying people off, restricting withdrawls, reducing interest rates, etc, etc makes me wonder how the risk folks at Genesis Trading are feeling these days since they lend to the institutional whales in cryptoland.....I can't believe they're not having some very sleepless nights right now, b/c if THEY have problems, chaos will ensue.

There are some 2X funds that do. But haven’t seen any 1X.

I just created an 18-month CD ladder with cash that was sitting in a money market earning nothing. Overall, my ladder is yielding 2%, which isn’t great but much better than 0.2%. The CDs mature every 3 months, so I can take advantage of further rate increases.

+1. Thanks, @yogibearbull.

Another avenue would be stocks at 4% (in the form of a dividend). For example TROW is at 4.16%
https://finance.yahoo.com/quote/TROW?p=TROW

Yes, just since this Spring, I'm into single-stocks, and have chosen them with dividends in mind. This is a mutual fund discussion board, though. When I look at the TRP Equity Income fund, PRFDX, the yield is just plain paltry. Same with everyone's darling, PRWCX. But I own a big slug of it, because in the end, it's TOTAL RETURN we're after. Also look at FFGCX (Commodities) and BMO Bank of Montreal. Yield on the former is 2.61%, not really in the same ballpark with TROW. But BMO? Dividend yield is at 3.99%. "Close enough for gov't work." Have a cigar. One more: PSTL. Postal Realty Trust, with a div. yield of 6%. (I own none of these.)

Another avenue would be stocks at 4% (in the form of a dividend). For example TROW is at 4.16%
https://finance.yahoo.com/quote/TROW?p=TROW