Core Insights - Social Security is projected to face insolvency by 2034, leading to potential benefit cuts that could significantly impact retirees' lifestyles if their investment portfolios do not generate sufficient income [2][6]. Investment Opportunities - The Fidelity Enhanced High Yield ETF (FDHY) offers a yield of 6.61% through below investment grade bonds, with a low expense ratio of 0.35% [6]. - The FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) provides a yield of 7.98% by combining dividend stocks with covered call options [6]. - Both ETFs are suggested as potential additions to portfolios, especially for retirees who may need to rely more on investment income due to Social Security cuts [4][6]. Fund Management - The Fidelity Enhanced High Yield ETF is actively managed by a team at Fidelity, focusing on high yield, below investment grade bonds, with a minimum of 80% allocated to "junk" bonds [9]. - The fund uses the ICE® BofA® BB-B US High Yield Constrained Index as its benchmark and has an average duration of 1-5 years [9]. - Monthly dividend payments from FDHY are highlighted as a positive feature for retirees [9].