BrandywineGLOBAL - Global Income Opportunities Fund offers a globally diversified, leveraged fixed-income portfolio, trading at a 9.73% discount with a 12.03% yield. BWG's NAV returns have lagged comparable non-leveraged ETFs like GHYG and EMHY, despite higher risk from leverage. The fund's distribution coverage has improved with rising NII and a cut in the payout a number of years ago but still requires some capital appreciation to cover.