HYD has a modified duration of just over 10 years and a yield to worst of 5.5%, but investors have shrugged off interest rate and Puerto Rico concerns, opting to focus more on HYD’s tempting 4.82% 30-day SEC yield.
In just the past week, HYD has added $22.1 million in new assets, bringing its year-to-date haul to $284.1 million.
Market Vectors High Yield Municipal Index ETF
Tom Lydon’s clients own shares of HYD.