Well, first of all, the banking system in these large caps, which is where we're predominantly invested in, is in really good shape. Loan quality is up. Liquidity is certainly adequate, so the banking system overall is in good shape. That's where we're largely invested, banks and insurance, so the fundamentals of banks and insurance are quite sound. So it does begin with credit, so you've got that credit part taken care of. You feel good about it.

Secondly, it's the preferred spread. We are a junior subordinated income product, so we are just senior to common equity and subordinated to subdebt. So being down the capital structure like we are in quality investment grade-rated institutions, we have an overall investment-grade enterprise rating at the senior debt level. Yet at the preferred level, being down the capital structure, we're notched down to perhaps being low BBB or BBB-/BB+ split rated.

And we get a lot of yield for that junior subordination in our product, so we're getting treasuries plus 300, 400, 500 in certain cases, which is one heck of a lot of yield no matter which way you cut it. When you add treasuries into that you're getting 7% to 9% in yield, and that's certainly beating money markets. And it's also beating treasuries by quite a bit and even up capital structure, subdebt, and senior debt comparatively. You're getting paid quite well.