AdvisorShares Peritus High Yield ETF (HYLD) - NYSEARCA
  • Tue, Feb. 2, 2:28 PM
    | Tue, Feb. 2, 2:28 PM | 12 Comments
  • Dec. 14, 2015, 8:54 AM
    • There's no early bounce from last week's high-yield carnage, with the iShares High Yield Corporate Bond ETF (NYSEARCA:HYGlower by 0.6% premarket, and the SPDR Barclays High Yield Bond ETF (NYSEARCA:JNKdown a full 1.1%.
    • Not helping is energy, with both oil and natural gas taking out new multi-year lows.
    • In mutual funds, Third Avenue Management fired its CEO after the collapse last week of its junk bond fund.
    • Looking for other signs of capitulation, HYG posted trading volume of $4.3B on Friday - not only its most ever by a mile, but more than three times the amount any corporate bond ETF has ever traded in a single day. For perspective, Apple's volume on Friday was $5.3B. This wasn't some big player exiting, but instead thousands of smaller orders - Bloomberg notes only a handful of trades for over $10M.
    • ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, NHS, PHF, ACP, FHY, ARDC, MCI, VLT, KIO, CIF, AIF, MHY, ANGL, PCF, DHG, MPV, IVH, HYLS, JSD, UJB, CJNK, GGM, QLTC
    | Dec. 14, 2015, 8:54 AM | 9 Comments
  • Aug. 17, 2015, 2:59 PM
    | Aug. 17, 2015, 2:59 PM | 66 Comments
  • Dec. 3, 2014, 2:01 PM
    • The energy sector of the high-yield bond market is down 5.4% over the last week alongside oil's plunge into the mid-$60s. Over the past month, high-yield energy is down 7.3%, and over the past quarter, down 11.2%.
    • The average speculative-grade energy company bond now yields 8.67%, according to the BAML index, more than 200 basis points more than the high-yield index as a whole.
    • With the sector representing 17% of the overall high-yield market, the poor performance has bled more than a little into the two largest junk ETFs, with HYG and JNK off 1.7% and 1.8%, respectively, over the past week.
    • ETFs: HYG, JNK, HYLD, SJB, ANGL, HYLS, UJB, XOVR, QLTC
    | Dec. 3, 2014, 2:01 PM | 7 Comments
  • Oct. 15, 2014, 11:05 AM
    • The spread of the junk bond index over Treasurys was below 300 basis points around the start of the summer, and around 400 bps near Labor Day. With today's sharp drop in Treasury yields (without a comparable move down in junk), the spread has blown out to more than 500 basis points.
    • HYG -0.25%, JNK -0.3%
    • Rough publicly traded equity proxies for high-yield, if you will, BDCs remain stuck in a bear market. Prospect Capital (PSEC -3.6%), Fifth Street Finance (FSC -2%), Main Street Capital (MAIN -3.8%), Blackrock Kelso (BKCC -2.6%), TICC Capital (TICC -5.1%), KCAP Financial (KCAP -4.7%).
    • BDC ETFs: BDCL, BDCS, BIZD
    • High-yield ETFs: HYG, JNK, HYLD, SJB, ANGL, HYLS, UJB, XOVR, QLTC
    | Oct. 15, 2014, 11:05 AM | 21 Comments
HYLD Description
The investment objective of the Peritus High Yield ETF (HYLD) is to generate a high current income with a secondary goal of capital appreciation. HYLD is sub-advised by Peritus I Asset Management, LLC. Peritus seeks to achieve the Fund’s objective by selecting a focused portfolio of high yield debt securities that, via their coupons, generate a high current income stream. Peritus takes a value-based, active credit approach to the markets, largely foregoing new issue participation, favoring instead the secondary market where Peritus believes there is less competition and more opportunities for capital gains. Peritus de-emphasizes relative value in favor of long-term absolute returns.
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Country: United States
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