The Tax Advantaged Fixed Income fund (TAFI) is an alternative to buying CDs, Bonds or Treasuries. 

Summary of Benefits

• TAFI produces gross returns same as a CDs, Bonds or Treasuries, which produce returns as Ordinary Interest Income. In contrast, TAFI produces returns as Capital Gains, which leads to higher after tax returns.
• There is no extra risk incurred over CDs or Treasuries.
• CDs are insured up to 250K and are not marginable. TAFI has no such restrictions.   
• CDs have early redemption penalties. TAFI has no such penalties. CDs have limited liquidity. TAFI offers complete liquidity over the holding period with low interest rate risk if the holder would like to liquidate early.
• Capital gains can be applied to carry forward capital losses, unlike interest income generated by CDs and Treasuries.
• In the example below, we compare and contrast post Federal tax returns of $100,000 invested with 5% return rate. We set Long Term Capital Gains Tax rate at 15% and Short Term Capital Gains Tax rate at 37%.

As you can see from the table above, TAFI generated a net additional gain of $660, or 0.66%, with no additional risk.