Seeking Alpha

Investors pull money from junk ETFs

  • A combined $620M was pulled from the two largest high-yield ETFs (HYG, JNK) last week, making them the least popular in the fixed-income ETF universe during that period, according to data put together by Bloomberg.
  • The move comes with yields on the BAML U.S. Index right around their record lows, and strategists suggest investors are cashing in some chips after a near straight-line rally over the past few months, if not years. While these ETFs are aimed at individual investors, they're increasingly being used by institutions to adjust exposure in a relatively low liquidity sector.
  • ETFs: HYG, JNK, HYLD, HYS, SJNK, BSJF, SJB, BSJE, HYHG, BSJG, ANGL, BSJI, HYLS, UJB, BSJH, XOVR, THHY, QLTC, SHYG, BSJK, HYGH, HYND, HYZD, BSJJ
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