iREIT+HOYA Capital is the premier income-focused investing service on Seeking Alpha. Our focus is on income-producing asset classes that offer the opportunity for sustainable portfolio income , diversification , and inflation hedging . Get started with a Free Two-Week Trial and take a look at our top ideas across our exclusive income-focused portfolios.Having a good margin of safety is a good mantra to live by when it comes to income investing. In the words of Warren Buffett, “When you build a bridge, you i ...

Core Viewpoint - The performance of physical gold and silver ETFs has diverged, with gold showing stronger year-to-date gains due to its safe-haven status amid market anxiety, while silver's volatility suggests potential for rapid recovery once market conditions stabilize [2][6][9]. Performance Summary - iShares Gold Trust (IAU) has increased by 16% year-to-date, trading around $94, while iShares Silver Trust (SLV) has gained 11%, and Sprott Physical Silver Trust (PSLV) has risen by 8% [1][5][6]. - Over the past twelve months, SLV has returned 132%, significantly outperforming IAU's 66% return, indicating silver's potential for dramatic price movements when demand aligns [1][7]. Market Dynamics - Gold's year-to-date performance reflects its role as a defensive asset during periods of elevated market anxiety, while silver's underperformance is attributed to its dual role as both an industrial and monetary metal [2][6][9]. - The recent drop in silver prices, with SLV falling over 10% in a week compared to a 4% decline in IAU, highlights the differing behaviors of these metals under market stress [8]. Interest Rates and Demand - Real interest rates are a critical factor affecting both gold and silver, as rising rates diminish the appeal of non-yielding assets like these metals [10]. - The Consumer Price Index (CPI) has been rising, reaching 327.5 in February 2026, which sustains inflation hedging demand for gold and silver [10]. ETF Structure and Liquidity - SLV, managed by BlackRock, holds 99.8% silver bullion with an expense ratio of 0.50% and $46.2 billion in net assets, making it the most liquid silver ETF [11]. - PSLV allows for the redemption of shares for physical silver bars, appealing to retail investors, but can trade at a premium or discount to net asset value based on demand, adding price risk [12]. - IAU has a lower expense ratio of 0.25% on $83.8 billion in assets, making it a cost-efficient option for gold exposure [13]. Trade Setup - Historically, when market volatility decreases and real interest rates stabilize or decline, silver tends to close the performance gap with gold rapidly [14].

Quick Read iShares Gold Trust (IAU) charges a 0.25% annual expense ratio by selling small amounts of physical gold held in authorized vaults, making it more cost-efficient than SPDR Gold Trust (GLD) at 0.40%, though SPDR Gold MiniShares (GLDM) undercuts both at 0.10%. Gold’s next 12-month performance hinges on whether the Federal Reserve signals rate cuts to lower real yields, which would support gold as a non-yielding asset, while Treasury yields climbing toward the May 2025 peak of 4.58% would pressur ...

Core Insights - The focus of iREIT+HOYA Capital is on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1][3] - The current market environment emphasizes the importance of owning hard assets, particularly as SaaS companies face challenges related to AI disruption [2] Investment Strategy - iREIT+HOYA Capital specializes in high-yield, dividend growth investment ideas, targeting dividend yields up to 10% [3] - The investment group offers research on various asset classes including REITs, ETFs, closed-end funds, preferred stocks, and dividend champions [3] Market Context - The pressure on SaaS companies due to AI disruption highlights a shift in investor focus towards more defensive and cash flow-oriented business models [2]

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1][2] - The investment group targets high-yield, dividend growth opportunities, offering portfolios with dividend yields up to 10% [2] - Retail investors are currently buying growth stocks despite market uncertainties, particularly in the Middle East, which may affect their investment strategies [2] Group 2 - The investment research provided by iREIT+HOYA Capital includes REITs, ETFs, closed-end funds, preferreds, and dividend champions across various asset classes [2] - The group emphasizes the importance of dependable monthly income and portfolio diversification for investors [2]

Core Insights - Iran's crypto market processed approximately $7.8 billion in transaction volume, primarily through the domestic exchange Nobitex, raising concerns about sanctions evasion while indicating a complex domestic ecosystem [1][4] Group 1: Market Dynamics - About 88% of crypto inflows in Iran come from local sources, suggesting a closed-loop economy where funds circulate between domestic exchanges and private wallets rather than being transferred abroad [2] - The demand for Rial-to-crypto conversion remains steady, with most users retaining assets within the domestic ecosystem instead of moving them to international exchanges [5] Group 2: Regulatory Challenges - Western regulators face challenges in differentiating between civilians using digital assets for economic survival and state-linked actors potentially using the same infrastructure to evade financial restrictions [3] - Institutional involvement complicates the landscape, as elements of the Islamic Revolutionary Guard Corps (IRGC) are linked to crypto usage, blending state-linked capital with broader transaction flows [6] Group 3: Security and Vulnerabilities - A significant hack attributed to the Israel-linked group Predatory Sparrow resulted in approximately $90 million in losses, highlighting structural vulnerabilities within the crypto market [7] - Post-breach wallet movements indicated high-value restructuring that deviated from typical retail behavior, raising concerns about alignment with Western KYC standards [7]

Core Insights - The World Gold Council (WGC) indicates that the underlying factors supporting gold's recent strength remain intact, despite strong returns in risk assets [1] - The report highlights that while equities and credit markets are performing well, there are unresolved structural risks that investors may be underestimating, creating a favorable environment for gold [2][3] Market Conditions - Equities are trading at high forward multiples, and credit spreads are compressed, with GDP forecasts suggesting resilience amidst high economic policy uncertainty [2] - Geopolitical tensions, narrow output gaps in major economies, and persistent inflation limit policymakers' ability to respond to future economic shocks [3] Gold Allocation - Gold is strategically under-owned, with private gold investment currently just above 2% of global equities and bonds, well below the optimal allocation range of 2% to 8% [4] - Institutional portfolios continue to follow a traditional 60/40 ratio, resulting in a modest allocation to gold compared to its historical role as a risk mitigator [4] Bond Market Dynamics - Bonds have become less effective as a hedge, with falling yields and a weakening stock-bond correlation reducing their ability to cushion equity sell-offs [5] - Inflation shocks have negatively impacted both bonds and equities, with core inflation remaining above central bank targets, potentially leading to upward pressure on yields [6] Margin Debt Concerns - US margin debt has surged, outpacing the growth of the S&P 500, which historically precedes major bear markets [7] - Excessive increases in margin debt relative to equity returns can amplify both upside momentum and downside risk, leading to increased demand for safe-haven assets like gold [8] Performance Metrics - SPDR Gold Shares (NYSE:GLD) have seen a year-to-date increase of 20.48%, indicating strong performance in the gold market [9]

Core Insights - The article emphasizes the importance of income-focused investing, particularly in the context of current market conditions that favor defensive stocks and sustainable income generation [1][2]. Group 1: Investment Strategy - The investment service iREIT+HOYA Capital focuses on income-producing asset classes, aiming to provide sustainable portfolio income, diversification, and inflation hedging [1][2]. - The service targets dividend yields up to 10%, offering investment research on various asset classes including REITs, ETFs, closed-end funds, and preferred stocks [2]. Group 2: Market Context - The article discusses the "SaaSpocalypse," highlighting that many previously high-performing growth stocks are now trading at lower valuations due to fears surrounding AI [2]. - It notes that there is a growing expectation for quick returns on growth stocks, which may not align with the realities of the current market [2].

Core Insights - The financial readiness of baby boomers for retirement is concerning, with many facing potential debt and reliance on Social Security due to inadequate savings [1][4][5] Group 1: Retirement Savings and Readiness - A 2025 Northwestern Mutual study indicates that the average retirement savings target for Americans is $1.26 million, yet many fall short, with 51% believing they may outlive their savings [2] - Vanguard reports that median-income individuals may face an annual spending shortfall of $5,000, equating to 13% of their overall retirement spending needs, and only the top 30% of income-earning baby boomers are considered ready for retirement [3][4] - The average 401(k) balance for baby boomers was $249,300 at the end of 2024, increasing to $267,900 by the end of 2025, reflecting a modest growth of 7% [4] Group 2: Investment Strategies - Fidelity recommends that individuals should aim to have twice their base salary saved by age 35, four times by age 45, and seven times by age 55, suggesting a 15% pretax income investment into a diversified portfolio [7] - Consistent investment in low-cost index funds, such as the S&P 500, can significantly enhance retirement savings, with potential to double income in about nine years [8][11] - Automated investing platforms like Acorns can help individuals start small by rounding up purchases and investing the spare change, making it easier to contribute to retirement funds [9][10] Group 3: Diversification and Alternative Investments - Diversifying retirement portfolios can mitigate risks associated with stock market fluctuations, with alternative assets like real estate and gold being recommended for added protection [19][20] - Gold prices reached historic highs of $5,602 per ounce in January 2026, with gold being viewed as a safe haven investment, up over 80% in the past year [21] - Real estate investment platforms like Arrived allow individuals to invest in shares of rental properties with a low minimum investment, providing access to high-growth opportunities without the responsibilities of being a landlord [24][26]

Core Viewpoint - Gold has shown significant returns, with a 73% increase over the past year and an 18% increase year-to-date through February 20, 2026, making it an attractive asset class for investors seeking dedicated gold exposure [2]. Group 1: Product Overview - Goldman Sachs Physical Gold ETF (AAAU) holds physical gold bullion at the Royal Canadian Mint, providing investors with a fractional claim on actual metal without derivatives or leverage [3]. - The fund's performance is directly tied to gold prices, making it a straightforward investment tool for portfolio diversification, inflation hedging, and safe-haven positioning [3]. Group 2: Performance Metrics - AAAU has returned 73.1% over the past year, closely matching SPDR Gold Shares (GLD) at 72.9%, with the difference attributed to AAAU's lower expense ratio of 0.18% compared to GLD's 0.40% [4]. - The current interest rate environment, with the Federal Reserve cutting rates and the 10-year Treasury yield around 4.08%, has created favorable conditions for gold, contributing to AAAU's strong returns [5]. Group 3: Investment Considerations - AAAU does not pay dividends or generate income, making it unsuitable for investors seeking yield from every portfolio position [6]. - The IRS classifies physical gold ETFs as collectibles, resulting in a maximum long-term capital gains tax of 28%, which is higher than the 20% rate for standard equity ETFs, potentially impacting after-tax returns [7].