In a market environment like this, investors looking to stash some cash in safe, high-yielding instruments could do a lot worse than the telecom sector.

It is certainly noteworthy that in the past month, while the Dow Jones Industrial Average and the S&P 500 are both down about 4%, the shares of AT&T (NYSE: T), CenturyLink (NYSE: CTL) and Verizon (NYSE: VZ) are all positive.

All of those stocks and others in the telecom space are backed my juicy dividend yields, making this sector a good bet for some outperformance in a trying environment such as this one.

For the trader looking to turn a boring sector into something a little more exciting, there is the ProShares Ultra Telecommunications ETF (NYSE: LTL), which is a doubled leveraged play on the Dow Jones Telecommunications.

The yield on LTL is decent at almost 2.5% and a bullish ascending triangle formation can be spotted on the chart. LTL is trading above both its 50- and 200-day moving averages and if resistance at $42 is broken, LTL could find its way into the 50s.

The downside here is thin volume and a high expense ratio of 0.95%.

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