3 Top ETFs I Can't Wait to Buy in July to Boost My Passive Income

My top financial goal is to grow my passive income to the point where it will cover my basic living expenses

That would give me freedom from worrying working to pay the bills

One aspect of my strategy is to invest in exchange-traded funds (ETFs) with income-focused strategies

I try to add to my positions each month to boost my passive income from these funds

Three top ETFs that I can't wait to buy this July to increase my passive income are the Schwab U

Here's why they are some of my favorite ETFs to buy for income

These companies have higher-yielding dividends, healthy five-year dividend growth rates, and stronger financial files than their peers

The ETF reconstitutes its holdings annually, replacing lower-quality dividend stocks with even higher-quality ones

That combination of yield and growth is ideal for my passive income strategy

The fund will supply me with more income now compared to lower-yielding options

Meanwhile, the income should steadily rise as the fund's holdings increase their dividend payments: SCHD Dividend data by YCharts A premium income The JPMorgan Nasdaq Equity Premium ETF has a dual mandate

As an options writer, the fund gets paid the premium, or the value of the option

It distributes the income it earns from writing options to investors each month

That income can be very lucrative: Image source: JPMorgan Asset Management

That's much higher than the income yield of other asset classes, including U

The fund also seeks to vide investors with equity market exposure

It holds an equity portfolio constructed by applying data science to fundamental re

That portfolio helps grow the fund's value, adding to its total return

One person's junk is another's income treasure in bonds is a great way to diversify your portfolio, reduce risk, and generate passive income

I to get exposure to the bond market by in ETFs

I own several bond ETFs, including the SPDR Portfolio High Yield Bond ETF

I this fund because it vides broad exposure to non-investment-grade-rated bonds, or junk bonds, which have higher yields than investment-grade bonds

While these junk bonds have a higher risk file than investment-grade bonds, this fund helps reduce risk by broadly in this asset class

Its holdings also feature a range of credit ratings and maturities

The fund has an average maturity of 4. 6 years and an average yield to maturity of 7

I can generate more passive income by in this bond ETF

It's a small but growing piece of my bond portfolio

Adding more income The Schwab U

Dividend Equity ETF, JPMorgan Nasdaq Equity Premium Income ETF, and SPDR Portfolio High Yield Bond ETF are three of my favorite income ETFs

They all have attractive current yields, which enables me to generate more income from every dollar I invest

Thus, more money into these funds allows me to boost my passive income, putting me closer to reaching my financial freedom target

That's why I can't wait to buy even more s of these top income ETFs in July

Matt DiLallo has positions in JPMorgan Nasdaq Equity Premium Income ETF, SPDR Series Trust-SPDR Portfolio High Yield Bond ETF, and Schwab U

The Motley Fool has no position in any of the stocks mentioned

The Motley Fool has a disclosure policy.