Re: DIVIDENDS VS CAPITAL GAINS
I assume you are aware (but perhaps not) that most - if not all - of your stocks "dividends" are mostly return of capital; meaning they aren't making enough income to pay all of them as true dividends. ARR in 2022 was 100% ROC; ORC was 80%. All ETN dividends (USOI) are considered ROC. What this means at the end of the day is that all of them are taxed as capital gains when you sell (the original basis is adjusted accordingly.) A skeptic would say you are simply getting your own money back, and paying taxes for the opportunity to do so.
Might need to pay close attention to USOI. With Credit Suisse no longer an independent company (they held the ETN for USOI), the bond holders for CS were left holding the bag, so to speak, it could mean that the ETN would wind up worthless. From the prospectus:
"The ETNs are subject to the credit risk of Credit Suisse. You may receive less, and possibly significantly less, than the principal amount of your investment at maturity or upon repurchase or sale. Investors will not have any partnership interests or other rights included in the index. Coupon Amounts on the ETNs will vary and could be zero. An investment in the ETNs involves significant risks." In other words, buyer beware.