The CBOE Volatility Index , otherwise known as the Wall Street's fear gauge, is coming off its most volatile week since April.

For investors hesitant to ride out the recent wild swings, Invesco senior portfolio manager John Burrello sees income funds that employ options-based strategies as a sound game plan. His reasoning: They have more structural protection embedded in them.

"Options are not reliant on the correlations of stocks with another... asset class," Burrello told CNBC's " ETF Edge " this week. "They can have a more reliable form of downside protection, and also can offer income that's not interest rate sensitive."

Burrello, who serves on Invesco 's global asset allocation team, suggests that should serve as an advantage to investors due to the rate cutt

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