Unit Investment Trust

If you don't like active management/frequent trading, and don't want to pay for management fees, you might consider investing in a UIT or "Unit Investment Trust." A UIT is usually a portfolio of fixed-income securities, either bonds or preferred stock, or both. There is a trustee charging some trustee/administrative fees, but there is no investment adviser trading the portfolio and/or charging management fees. While rising interest rates would push the value of your units down, there is no law that says you have to sell them just then. Of course, if you did sell them at that point, you would realize a capital loss. At least you can redeem them for their exact unit value if you do go that route, as opposed to having to sell them on the secondary market for whatever price the market wants to bid.