Guggenheim International Multi-Asset Income ETF (NYSEArca: HGI)
The Guggenheim International Multi-Asset Income ETF is the international equivalent of CVY, though this is not a pure “ex-U.S.” fund as U.S. the is HGI’s second-largest country weight at 15.2%. The U.K. is HGI’s largest country exposure at nearly 19.2% and the top-five country weights are rounded out by Japan, Hong Kong and Germany.
The six-year old HGI has almost $109 million in assets under management, but is down 5% year-to-date, indicating a combined 17.4% weight to Hong Kong, Brazil, Australia and China has hampered the fund’s performance.
Financials, energy and telecom combine for over 52% of HGI’s sector weight. HGI tracks the Zacks International Multi-Asset Income Index, which is comprised of 150 stocks selected, based on investment and other criteria, from a universe of international companies, global REITs, master limited partnerships, Canadian royalty trusts, ADRs, emerging markets equities and U.S. listed closed-end funds that invest in international companies, according to Guggenheim.
HGI is currently home to 155 stocks and the ETF has a lower standard deviation at 18.52% than the MSCI EAFE Index at 19.35%.
HGI has a 30-day SEC yield of 5.54%.
First Trust NASDAQ Multi-Asset Diversified Income Index Fund (NasdaqGS: MDIV)
The First Trust NASDAQ Multi-Asset Diversified Income Index Fund is one of the newer members of the multi-asset ETF fray having debuted last August. Highlighting investors’ thirst for yield, MDIV has attracted over $463 million in asset in less than a year of trading.
MDIV allocates 25.7% to dividend stocks, 20.8% to MLPs and almost 20% to preferred stocks. REITs and junk bonds make up the rest of the fund. In fact, MDIV’s largest holding is another ETF, the iShares iBoxx $ High Yield Corporate Bond ETF (NYSEArca: HYG), which represents 14.6% of MDIV’s weight. No other holding receives a weight of more than 1.43%. [Off the Beaten Path Yield ETFs]
MDIV is up nearly 4% since its debut and has a 30-day SEC yield of 6.1%.
First Trust NASDAQ Multi-Asset Diversified Income Index Fund
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of CVY and HYG