That makes a fund like Ares Dynamic Credit Allocation Fund (ARDC, $15.02) particularly compelling. ARDC is a strategic fund that invests in several assets: bonds (45.5%), collateralized loan obligation debt (25.4%), loans (21.5%), CLO equity (10.1%) and a sprinkling of equity. On the one hand, several drivers still are in play, including still-low U.S. unemployment, inflation being kept in check and an accommodative Federal Reserve that appears poised to keep interest rates steady for the rest of the year.