This month, investors have redeemed 4 million shares from the $13.7 billion iShares iBoxx High Yield Corporate Bond Fund (NYSEArca: HYG) and 8.5 million shares from the $10.1 billion SPDR Barclays High Yield Bond ETF (NYSEArca: JNK), according to the Bloomberg report Thursday.
Last month, an investor redeemed $800 million worth of JNK shares in exchange for high-yield corporate bonds. [Fallout for High-Yield ETFs After Big Trade, Moody’s Warning]
PowerShares Fundamental High Yield Corporate Bond Portfolio
Full disclosure: Tom Lydon’s clients own HYG.