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David,
Apr 17 11:35 am
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All Comments by J.D. Steinhilber »Replacing Barclays iShares Bond ETFs With Vanguard's New Bond ETFs [View article]
I think yield to maturity is a bit fuzzier inside a bond fund as opposed to an individual bond that an investor plans to actually hold to maturity, so I also look at the monthly distribution and determine what that implies on a current cash on cash yield basis. For SHY, this figure is approximately 4.45% (surprisingly low) and for BSV (using VBIRX, the underlying Vanguard fund, as a proxy) the yield is 4.75%, so yes, I do think the extra half-year of duration risk is worth it.
J.D.