HYHG had nearly $149 million in assets under management at the end of the third quarter. Bonds must have a minimum issue size of $1 billion to be included in the fund. No more than 2% of the underlying index is allocated to a single issuer.
At the end of the third quarter, HYHG held 172 junk bonds from 122 issuers. The ETF’s weighted average maturity was 6.3 years. HYHG’s net effective duration is actually slightly negative at -0.04 years, but even with the rising rates protection, investors are not cheated out of yield as highlighted by the fund’s 30-day SEC yield of 5.93%.
The bulk of HYHG’s holdings are rated between BB+ and B-, but the ETF does have some exposure to speculative CCC-rated debt.
For more information on corporate debt, visit our corporate bonds category.