SDIV is offering a 9.7% yield, but the underlying holdings are raising red flags. The fund is heavy on mortgage REITs like AGNC and IVR that are paying out way more than they earn, with some payout ratios exceeding 200%. Consequently, the monthly dividend has dropped from $0.255 to $0.19 since early 2023. The expense ratio is also pretty high at 0.58%. JEPI is highlighted as a potentially more stable alternative. It yields 8.2% using covered calls on US large caps like Broadcom, where the payout ratios make more sense.