Home ETFs and Funds Analysis Closed End Funds Analysis Summary The Western Asset High Income Fund II (HIX) offers a 14.74% yield but suffers persistent net asset value (NAV) erosion, raising sustainability concerns. HIX's distribution exceeds net investment income, relying on unrealized gains and capital, which threatens long-term NAV and future payouts. Exposure to Spirit Airlines bankruptcy may result in further portfolio losses, though position size is not dominant but still material. Despite outperforming indices on total return due to high yield, HIX underperforms top peers and trades at a 4.31% NAV discount, reflecting market skepticism. Looking for a helping hand in the market? Members of Energy Profits in Dividends get exclusive ideas and guidance to navigate any climate.…