Realized Yield

The portfolio had dividends. They paid, in total, about 3%. But then there were other ways that the portfolio made cash, namely in the form of selling covered calls or covered call options or call options on stocks it already owned. That way, at worst, if the stock went up a lot and pierced the high end of the range, the stock would simply be sold, covering that call.

Well, the cash generated by selling those covered calls added to the yield of the portfolio, such that it realized a yield of 3.5% after everything. Nice way to goose returns there.