Typically, my interest gravitates towards more diversified choices. However, IRL presents a way for investors to play the impending withdrawal of the UK from the European Union, or "Brexit" in popular terms. 80% of the fund's $73 million in assets is invested in equity and debt of corporations registered on the Emerald Isle. Ireland remains a bright spot thanks to its firm commitment to the EU, economic vibrancy, and participation in the common currency (remember, while an EU member, the UK did not adopt the euro).

Ireland stands to benefit from Brexit by taking in EU-focused companies who need to relocate. Moving your offices to Dublin is much easier and attractive than relocating to, say, Brussels. The fund doesn't use leverage, trades at a 6.8% discount to NAV and currently yields 8.17% based on a $12.77 share price.