iShares U.S. Preferred Stock ETFNYSEARCA
Mon, Nov. 21, 1:18 PM
- The sharp selloff in fixed-income not only may have gone too far, suggests Andrew Bary, noting a 10-year Treasury yield of 2.33% already discounts plenty of things that may happen in the coming months (or may not happen).
- Whether rates are too high or not is up for argument, but what isn't are the discounts to NAV on at least a few closed-end funds.
- Those mentioned: Nuveen AMT-Free Quality Municipal Income (NEA +1.5%), BlackRock Municipal 2030 Target Term Trust (BTT +0.9%), BlackRock Taxable Municipal Bond Trust (BBN +1.5%), Nuveen Preferred Income Opportunities (JPC +2.2%).
- Also noted is a mutual fund which has sold off: Vanguard Intermediate-Term Tax-Exempt Fund (MUTF:VWIUX).
- Another way to play is in preferred stock, with issues from Wells Fargo, Bank of America, and Public Storage all mentioned, or the iShares Preferred Stock ETF (PFF +0.8%).
Sat, May 7, 5:06 PM
- Barron's "ETF Roundtable" features David Cleary of Lazard, Fritz Folts of 3EDGE Asset Management, John Forlines III of JAForlines Global, and Will McGough from Stadion Money Management.
- ETFs they like include:
- Gold: iShares Gold Trust (NYSEARCA:IAU) "has a lower expense ratio (0.25%) than (NYSEARCA:GLD)," VanEck Vectors Gold Miners (NYSEARCA:GDX), and GLD.
- iShares Global Materials (NYSEARCA:MXI).
- Emerging markets: iShares Core MSCI Emerging Markets (NYSEARCA:IEMG), SPDR MSCI Emerging Markets Quality Mix (NYSEARCA:QEMM), iShares MSCI Brazil Capped (NYSEARCA:EWZ), EGShares India Infrastructure (NYSEARCA:INXX) "We like India in general as a long-term option," iShares Latin America 40 (NYSEARCA:ILF) "We're starting to see governance improvements in Latin America broadly," iShares J.P. Morgan USD Emerging Markets Bond (NYSEARCA:EMB).
- Emerging-market proxies: iShares MSCI Canada (NYSEARCA:EWC) and iShares MSCI Australia (NYSEARCA:EWA).
- iShares Core High Dividend ETF (NYSEARCA:HDV). iShares MSCI USA Minimum Volatility (NYSEARCA:USMV) "Now there's more uncertainty, and that's when these low-vol strategies do best."
- iShares North American Tech (NYSEARCA:IGM) and iShares U.S. Consumer Services (NYSEARCA:IYC), "We still like consumer services and technology."
- PowerShares QQQ (NASDAQ:QQQ), Vanguard Small Cap Value (NYSEARCA:VBR), "Blending the two doesn't tilt the portfolio too much in one direction or the other, because the combination blends small and large, growth and value."
- SPDR Barclays High Yield Bond ETF (NYSEARCA:JNK), PowerShares Fundamental High Yield Corporate Bond Portfolio (NYSEARCA:PHB).
- VanEck Vectors Fallen Angel High Yield Bond (NYSEARCA:ANGL), "These are viable companies, and although they've moved from investment- grade to high-yield, they're likely survivors."
- "We like preferreds, via the iShares U.S. Preferred Stock (NYSEARCA:PFF)." Also: iShares International High Yield Bond ETF (BATS:HYXU).
- iShares MSCI Europe Small-Cap (NASDAQ:IEUS).
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Jun. 16, 2014, 3:36 PM
- The Bond King may be battered and bruised a little bit, but his words still cary some weight, with two of his three Barron's Mid-Year Roundtable picks from this weekend posting big gains on heavier-than-usual volume. The thesis: Own some mildly levered closed-end bond funds which can borrow at 10 or 20 basis points, re-lend the money at 400 to 500 basis points, and produce a yield of 7-8%.
- One Bill Gross is buying for his own portfolio is the BlackRock Build America Bond Trust (BBN +2.5%). The feds subsidize 35% of the interest paid, the fund usually owns A- and AA-rated long-term bonds, and currently yields 7.5%.
- He's also a buyer of the Pimco Dynamic Income Fund (PDI +1.1%), an owner of non-agency mortgages expected to yield between 8-10%. On sale for some time, the fund now trades at about net asset value.
- Gross' third pick is an ETF, the iShares U.S. Preferred Stock Fund (PFF +0.1%). Liquid with an expense ratio below 50 bps, the fund primarily holds bank preferreds. It's a short-term play, says Gross, as many of the preferreds in its portfolio will be refunded within a year or to and the dividend will fall. In the meantime, one can collect a 5.5% yield.
Jun. 2, 2014, 2:13 PM
May 1, 2014, 2:22 PM