Why?

Remember risk and return still matter, despite a bonkers stock market.  There is an income-focused closed end interval that is raising capital that highlights risk and return.  This fund is paying a distribution of approximately 4.5%, or less.  This is a high yield fund that plans to use leverage to enhance its returns.  I don't see how a leveraged high yield fund that is only paying a 4.5% distribution is competitive.  It's an interval fund so liquidity is limited.  There are a number of fully liquid traded funds with similar objectives that are paying yields of 9.0% or higher.  These yields show the risk of leveraged high yield funds. Why would anyone want to invest in a fund that gives full risk while providing only half or less than the yield (return) of competitive investments? WHY?