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Arrow Dow Jones Global Yield Adds Currency To The Mix
- GYLD is a multi-asset ETF with global exposure.
- GYLD is well-diversified across assets and geography.
- The main attraction relative to other multi-asset ETFs is GYLD's roughly 40 percent non-U.S. dollar exposure.
Bonds Dead? This ETF Delivers Diversified Global Yield
There are no Transcripts on GYLD.
Sep. 29, 2014, 12:50 PM
- The Arrow DWA Tactical ETF (Pending:DWAT) will offer investors actively managed exposure to leading global market strategies across multiple asset classes, including U.S. equities, international equities, fixed income, commodities and currencies.
- "With the launch of the Arrow DWA Tactical ETF we are pleased to offer a core solution for advisors who may wish to add a tactical element to a strategic investment portfolio," states Joseph Barrato, CEO and Director of Investment Strategy at Arrow Investment Advisors, in a press release.
- Arrow Funds' first ETF, the Arrow Dow Jones Global Yield ETF (NYSEARCA:GYLD), launched in May 2012, is also a multi-asset class fund and has returned 11% since the start of the year.
- Other multi-asset ETFs with global exposure: GYLD, INKM, HGI, YDIV, FDIV
Mar. 5, 2014, 12:04 PM
- The AdvisorShares YieldPro ETF (YPRO), a joint venture with The Elements Group, launched this morning.
- This ETF will hold both long and short term fixed income investments, selected after a screening for yield, volatility, volume and relative strength.
- Noah Hamman, chief executive officer of AdvisorShares, stated in a press release; "in the current interest rate environment where many investors and advisors actively hunt for the dual goals of yield and mitigation of risk, we feel YPRO may help allow the flexibility to potentially achieve both objectives."
- Other multi asset bond ETFs: CVY, PCEF, CEFL, MDIV, IYLD, YYY, GYLD, DVHL, HGI, INKM, DVHI, YDIV, GCE, RIGS
Dec. 12, 2013, 11:29 AM
- The ETRACS Monthly Pay 2xLeverage Closed-End Fund ETN (CEFL) features a double-exposure strategy focused on closed-end funds and will shoot off a dividend of 19.4%.
- This newest addition to the UBS lineup has been described as a double-exposure version of the YieldShares High Income ETF (YYY), which launched earlier this year and has a yield of 10.4%.
- Other multi-asset ETPs: CVY, PCEF, MDIV, IYLD, GYLD, INKM, DVHL, GCE, DVHI, RIGS, YDIV
Nov. 13, 2013, 9:17 AM
- Launching tomorrow from UBS is the Etracs Monthly Pay 2x Leveraged Diversified High Income ETN (DVHL) - the double-exposure version of its DVHI which opened in September.
- The tracked index includes MLPs, BDCs, REITs, and preferred equity, among other securities, and is split 60/40 between equity and bonds.
- Multi-asset income funds have become a popular product in the last 18 months, the largest being Guggenheim's CVY with AUM of nearly $1.2B.
- Others: MDIV, INKM, IYLD, GYLD, HGI.
- CVY and the others are ETFs, while UBS's offerings are ETNs.
Sep. 17, 2013, 10:55 AM
- The summer bond crash has fund managers shuffling money into equities, according to the BAML fund manager survey, which shows those overweight stocks rising to 60% in September - the highest level since February 2011. Digging a little deeper finds exposure to consumer staples (XLP) is the highest in 10 years, to European stocks the highest in 6 years, and an 11-year high for U.K. equities (EWU).
- European stock ETFs: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU.
- Blogger ukarlewitz digs even deeper and finds the spread between equity and bond ratings is the 2nd highest in the 12-year history of the survey.
- Undermining this apparent confidence, notes BAML's Michael Hartnett, are cash levels that remain "exceptionally high" at 4.6%. He reminds of the rule to buy stocks when cash is above 4.5%, and sell when it falls below 3.5%.
- Broad fixed income ETFs: AGG, BND, LAG, SCHZ, BOND, SAGG, MINC, GYLD, INKM.
- Broad equity ETFs: IYY, VTI, EXT, TOTS, EUSA, ITOT.
Aug. 28, 2013, 11:17 AM
- By looking to gain regulatory approval to self-index, Arrow joins a number of ETF providers looking to save on indexing costs, not to mention more quickly bring more granular strategies to market.
- The firm is looking to launch so-called "blended funds" - combining fixed income and equity - as well as long/short 130/30 funds.
- The company last May filed to bring three actively-managed income ETFs to market to add to its sole fund currently available, the Dow Jones Global High Yield ETF (GYLD).
Aug. 27, 2013, 11:00 AM
- "The media may have succeeded in sullying sentiment," writes Pimco's Doug Hodge, but "their message that bonds are riskier than stocks is untenable ... individuals may have been rushing to the exits, but many of America's largest corporate pension funds and insurance companies have been buying long-dated bonds ... we expect individual investors will eventually follow suit."
- Acknowledging the duration risk of long-dated bonds, Hodge, reminds stocks are also sensitive to changes in interest rates, and a sustained rise is sure to hit equity values as well. The worst calendar year for bond market (AGG) was 1994 and showed a 3.9% decline (compare that to a bad year for stocks). Even with 10-year Treasury yields up 96 bps YTD, AGG is off just 3.26%.
- Broad fixed-income ETFs: AGG, BND, LAG, SCHZ, BOND, SAGG, MINC, GYLD, INKM.
Aug. 23, 2013, 3:45 PM
- First Trust launches the International Multi-Asset Diversified Income Index Fund (YDIV), a follow-up to the firm's similar, but U.S.-focused MDIV.
- The expense ratio is 0.79%.
- According to the latest prospectus update, YDIV will invest 15% of assets in a junk bond ETF, 25% in dividend-paying stocks, and the remaining 60% in REITs, preferred stock, and infrastructure companies.
- Among existing funds casting a wide, multi-asset class net are the aforementioned MDIV, the SSgA Income Allocation Fund (INKM), the Morningstar Multi-Asset Income Index Fund (IYLD), and the Dow Jones Global Yield ETF (GYLD).
May. 24, 2013, 12:45 PMMulti-asset income ETFs are here to stay, writes Paul Britt, as Guggenheim's CVY crosses $1B in AUM. It's been around since 2006, but a new entrant, MDIV has pulled in $440M in less than a year. These income funds have no mandate in their search for yield and roam across dividends (DVY), high-yield (HYG), REITs (IYR, VNQ), and MLPs (AMJ) as necessary. One drawback is their somewhat high expense ratios - in the 60-80 bp range, compared, for example, to DVY at 40 bps. Other M-A ETFs: INKM, IYLD, GYLD, HGI. | 2 Comments
May. 23, 2013, 10:12 AMThe ProShares High Yield-Interest Rate Hedged ETF (HYHG) starts trading today joining the likes of HYLS and THHY. The fund will short Treasurys to offset its exposure to high-yield corporate debt and comes with an expense ratio of 0.50% - significantly lower than THHY (1.45%) and HYLS (1.19%). | Comment!
Mar. 22, 2013, 10:25 AMThe recently announced Market Vectors Treasury-Hedged High Yield Bond ETF THHY starts trading today. The fund invests in high-yield bonds, but hedges interest rate risk by shorting Treasurys. It comes with a high expense ratio of 1.45% as compared to similar funds HYLS (1.19%), GYLD and MINC (0.75%). | Comment!
Feb. 28, 2013, 4:39 PMWednesday saw First Trust launch the first ever Long/Short fixed income strategy ETF, HYLS. The actively managed fund will invest at least 80% of its assets in sub-investment grade corporate debt while shorting multiple fixed income asset classes and credit grades with its remaining assets. HYLS charges 1.19%. In contrast, long-only multi-asset income ETF GYLD charges 0.75% while fund-of-funds income-focused IYLD charges 0.60%. | 1 Comment
Feb. 27, 2013, 5:08 AMArgentina is due to appear in a New York Appeals Court today, when it will try to persuade the judge to reverse a ruling that it pay $1.3B to investors that refused to accept the country's debt restructuring after it defaulted 2001. The case could "create unrest in the credit markets and result in cascades of litigation," says Bank of New York Mellon (BK). | 3 Comments
Jan. 2, 2013, 4:47 AMThe amount of debt that the G7 and four of the BRIC nations will need to refinance this year will fall by $220B to $7.38T, Bloomberg calculates, although the amount the U.S. will have to cover will increase to $2.9T from $2.6T. Overall government debt returned 4.5% on average last year, led by a 78% gain on Greek bonds. However, yields on major sovereign debt are expected to remain low. | Comment!
Dec. 28, 2012, 4:08 PMCNBC provides a list of the worst financial predictions of 2012. Among them: Facebook would turn in a great IPO; China would see a hard landing; Greece would leave the eurozone; the U.S. bond bubble would burst, and the U.S. would see a double-dip recession. Among the reasons Cullen Roche thinks the predictions flopped: Europe is too interdependent to let Greece walk, the U.S. government has no insolvency risk, and "everyone wants to predict the next big financial crisis." | Comment!
Aug. 10, 2012, 9:05 AMWhat crisis? Europe's corporate bond market is cruising, investment-grade euro-denominated bonds returning 8.9% YTD. Spreads remain wide - more than 200 bps to sovereign bonds vs. 50 bps pre-crisis - but there are good reasons for this. The search for yield continues, but how much upside is left? | Comment!
GYLD vs. ETF Alternatives
The Arrow Dow Jones Global Yield ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the global bond market as defined by the Dow Jones Global Composite Yield Index.
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