If you're looking to play it safe using exchange-traded funds, experts recommend to go with what's working.
"For me, the story is go with what's working because nothing has changed," Grasso said. "I don't have any edge on Brexit. I don't have any edge on China trade. And I don't have any edge on the Fed right now. So, I have to go with what has performed, and those are the safety bets and gold.", which both Grasso and Nadig said would be attractive if stocks see a prolonged drop.
"Just think about it: a utility is going to do better during a recession. They can pass on those rates to the clients that they serve, or, during good times, it's also going to do well," Grasso said. "So, I think that they are safety bets. I do think that they can extend their gains for the year." For Nadig, utilities are as good a bet as any considering investors' recent exodus from the bond market.
"We've seen huge outflows in things like corporate bonds. Investors are not looking there for their yield plays anymore," Nadig said. "I think utilities, if you're looking for yield, continues to be a great way to do that.
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