"Although equities tend to have attractive multi-year growth rates, there is always risk," caution Ron Rowland and Brandon Clay.

In their Invest with an Edge, they explain, "That's why investors have been taking a second look at bonds, specifically municipal bonds." Here's an ETF offering exposure to the muni bond sector.

"Affectionately called 'munis', municipal bonds have enjoyed a resurgence among retail investors, who are buying munis for three reasons:

1) Munis Have High Yield & No Taxes in Difficult Markets

"Municipal bonds are unique investment vehicles. They offer yields, but the interest is not taxed by the IRS. That way, the 'effective' yield for the muni is often higher than on taxable bonds. Moreover, as prices for munis have been falling, yields have been rising.

2) Munis Are Relatively Safe Investments

"When you're buying a muni bond, you're actually loaning to a state/local government or their agencies. Although cities can go bankrupt – thus preventing you from receiving back your initial investment – at least we can vote on governors and mayors.

"As a result, munis are a safer investment than many corporate bonds. Munis are one way for investors to find safety in this market.