Treasury yields have fallen as the Federal Reserve has stopped hiking interest rates.
So what should defensive investors do for income?
The consumer staple, utilities, healthcare and telecommunications sectors can help protect principal while also paying dividends, which are at premium yields against the treasury market.
"When we think about defensive sectors...obviously it's gong to include utilities, telecommunications, consumer staples, those are traditionally the sectors that have produced an above market yield," said Mike Loewengart, vice president of investment strategy at E*Trade.
"So where we are in the current market, a well diversified dividend equity approach, using those sectors would be appropriate."
But two sectors stand out to him:
"Beyond utilities, things like telecom and staples would provide a bit more exposure to the broader economy, which would afford them the opportunity to grow with the broader economy," Loewengart said.