Not all bonds are declining!
As rates rise, bonds will obviously fall in value. However, that's not the case everywhere. EMLC primarily owns emerging market government debt (>96% of holdings), along with a few corporate bonds. It invests in debts in the local currency, which reduces exchange rate risks. It has vastly outperformed US government debt with a 1-year return of +11.2%. Compare that to SHY, IEI, IEF , and TLT 1-year returns of -0.1%, -0.41%, -0.54%, and +3.0%, respectively. Not only is the fund experiencing price appreciation, but it also offers a 5.3% dividend via monthly distributions.
This is a great place to park cash and achieve some return while market turbulence and prevail. I'm a buyer at current levels, with an intermediate term target of $20.81, the .