HYLD has a 30-day SEC yield of 7.74% with a duration of just 2.39 years compared to a duration of 3.61 years on the Barclays U.S. High Yield Index, according to AdvisorShares data. HYG has a 30-day SEC yield of 4.29% and an effective duration of 3.96 years.
The PIMCO 0-5 Year High Yield Corporate Bond (NYSEArca: HYS) and the SPDR Barclays Short Term High Yield Bond ETF (NYSEArca: SJNK) have pulled in more than $2.7 billion in new assets this year, more than the amount shed by HYG and JNK combined.
The $5.1 billion HYS has an effective duration of 1.93 years while SJNK’s modified adjusted duration is 2.21 years. Lower durations on those ETFs make them less sensitive to potential interest rate changes than longer duration rivals like HYG and JNK. [Short Duration Junk ETFs in Focus]
iShares iBoxx $ High Yield Corporate Bond ETF
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of HYG, HYLD and JNK.