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Customizing Your Bond ETF PortfolioTom Lydon • Tue, May 15, 2012
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April ETF Roundup: Launches And FilingsMichael Johnston • Mon, May 7, 2012
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ETF Stats For April 2012: Listed Count At 1,457Ron Rowland • Fri, May 4, 2012
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New High-Yield Corporate Bond ETFsTom Lydon • Fri, Apr 27, 2012
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Guggenheim Adds 3 High-Yield ETFs To BulletShares FamilyStoyan Bojinov • Wed, Apr 25, 2012
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There are no Focus articles on BSJG.
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Customizing Your Bond ETF PortfolioTom Lydon • Tue, May 15, 2012
-
April ETF Roundup: Launches And FilingsMichael Johnston • Mon, May 7, 2012
-
ETF Stats For April 2012: Listed Count At 1,457Ron Rowland • Fri, May 4, 2012
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New High-Yield Corporate Bond ETFsTom Lydon • Fri, Apr 27, 2012
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Guggenheim Adds 3 High-Yield ETFs To BulletShares FamilyStoyan Bojinov • Wed, Apr 25, 2012
There are no Transcripts on BSJG.
There are no News articles on BSJG.
BSJG vs. ETF Alternatives
BSJG Description
The Guggenheim BulletShares 2016 High Yield Corporate Bond ETF* (NYSE Arca: BSJG) seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of a high yield corporate bond index called the BulletShares® USD high Yield Corporate Bond 2016 Index. The Index is a rules-based index comprised of, as of March 30, 2012, approximately 140 high yield corporate bonds with effective maturities in the year 2016. The Index is designed to represent the performance of a held-to-maturity portfolio of U.S. dollar-denominated high yield corporate bonds with effective maturities in 2016. The effective maturity of an eligible corporate bond is determined by its actual maturity or, in the case of callable securities, the effective maturity of the security as determined in accordance with a rules-based methodology developed by Accretive Asset Management LLC (“the Index Provider”). The Fund will invest at least 80% of its total assets in component securities that comprise the Index. Under normal conditions, the Fund will invest at least 80% of its net assets in high yield securities (“junk bonds”), which are debt securities that are rated below investment grade by nationally recognized statistical rating organizations, or are unrated securities that the Investment Adviser believes are of comparable quality.
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Country: United States
Key Info
- In Your Portfolio: Broad U.S. Bond ETFs, A Guide to U.S. Corporate Bond ETFs
- Asset Class Performance: Bonds
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Friday, May 10, 5:57 AM Don't panic, Moody's says, there's "no strong evidence that recent [corporate debt] issuance levels presage a damaging correction." The notion that a bubble is building in the corporate bond market isn't reflected in credit spreads which, for both investment grade (LQD) and high yield (HYG, JNK), are closer to long-run averages than they are to alarmingly tight. Furthermore, the ratings agency says a surge in issuance reflects the "disintermediation of the banking sector" and notes that the proportion of total corporate liabilities comprised of debt securities hasn't significantly increased over the past two years." We can all rest easy now. (previous) 2 Comments
- Wednesday, May 8, 11:38 AM The 5% yield barrier on junk bonds (HYG, JNK) is broken for the first time ever, the Barclays U.S. High Yield Index sliding to 4.97% (prior to Jan., the yield had never fallen below 6%). Spreads to Treasurys remain at a not-unreasonable 406 bps, far wider than the record-tight 223 points reached just as the gates of financial heck were about to open in 2007. In the meantime, the equity of highly non-wobbly companies like RDS.A, VOD, and GSK yields in the area of 5%. "We don't want to question the market," writes the FT's David Keohane, "but: what the (heck)?" 7 Comments
- Monday, May 6, 1:04 PM It's an easy market to hate, but junk bond prices (HYG, JNK) keep going higher, the yield on the benchmark BAML index hitting an all-time low of 5.084%. The spread to Treasurys - treading water for awhile at 475 bps - has broken through that resistance, and is now at 4.33%. The Fed's role here is well-documented, but the latest meme has the BOJ's easing efforts as forcing a fresh wave of cash into the sector. 8 Comments
- Friday, April 12, 12:28 PM Fixed-income may not be being given away as it was in 2010, but there's still value, says Jeff Gundlach, scoffing at talk of a bond bubble. "Raise your hand" if you own Treasurys for yourself or a client, he asked a room full of advisors (none went up). Bonds are not "over-owned" in the U.S., he says, showing cash and fixed income make up a higher percentage of household financial assets in other countries. 5 Comments [U.S. Economy]
- Friday, March 22, 10:25 AM The 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!
- Wednesday, March 20, 10:11 AM The term "high-yield" doesn't quite cut it anymore as the 30-day SEC yield on the High-Yield Corporate Bond ETF (HYG) threatens to drop below 5%. 4 Comments [Financials]
- Monday, March 4, 9:23 AM The growing consensus against junk bonds in a picture shows soaring short interest in HYG. (via Stifel, h/t ukarlewitz) Comment!
- Thursday, February 28, 8:25 AM Dan Fuss - a bond king even if that title is usually reserved for someone else - takes junk bond (HYG, JNK) exposure in his Loomis Sayles Bond Fund down to 24% of AUM, its lowest level ever. "The 'don't fight the Fed' mentality ... will have to reconcile at some point with the macroeconomic reality that there's more risk in the world than the market is choosing to acknowledge," says DoubleLine's Bonnie Baha, nodding in agreement with Fuss. Comment! [Financials]
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Wednesday, February 27, 11:10 AM
Leading off his latest outlook with Alan Greenspan's "irrational exuberance" line, Bill Gross (BOND) ponders its application to credit markets (LQD, HYG, JNK) today. Conclusion: Not yet. Labeling credit irrationality a 6 on a scale of 1-10, Gross suggests not selling, but instead lowering expectations.
1 Comment [U.S. Economy] - Friday, February 22, 10:09 AM The soon-to-hit Market Vectors High-Yield/Treasury ETF (THHY) - by going long high-yield and short 5-year Treasurys - aims to protect against rising rates. Rising Treasury rates, that is. What happens if the economy worsens, Treasury yields fall, and high-yield rates rise? In golf it's known as the dreaded double-cross. 2 Comments [Financials]
- Tuesday, February 19, 8:52 AM Calling investors "handcuffed volunteers," Howard Marks says the people buying high-yield (HYG, JNK) at 6% are doing so only because T-bills pay 0.25%. These investors weren't buying 10 years ago at 12% or 4 years ago at 20%. "Are they doing it because they are pie-eyed optimists? No, (but) because they have to have income to eat." 3 Comments [Financials]
- Friday, February 15, 8:06 AM It's fashionable to bash the high-yield sector (HYG, JNK), but UBS has a kind word to say. On a relative basis, valuation is still attractive, with yields 500 basis points higher than Treasurys leaving plenty of room to tighten. Issuer quality isn't as bad as reported, they say, with just 20% of new paper at CCC or less, vs. 35% in 2007. 2 Comments [Financials]
- Monday, February 4, 11:56 AM Last week's losses in high-yield were accompanied by sizable outflows from high-yield ETFs, with HYG losing $461M in assets and JNK $348M. Investors also pulled money from another hot sector, emerging markets bonds (EMB). All three are now posting losses YTD. 5 Comments [Financials]
- Thursday, January 31, 4:37 PM Are funds flowing out of junk bonds? The noticeable turn lower in HYG and JNK in the past couple of sessions has been accompanied by surging volume, notes John Spence. Both of the ETFs have returned to about flat YTD. The IG corporate bond ETF (LQD) is now red. Dan Fuss describes today's high yield values as "ridiculous." Comment! [U.S. Economy]
- Monday, January 28, 1:34 PM Things are as good as they can get in high-yield, with a default rate in 2012 of 1.9%, according to Fitch, above 1.5% in 2011, but well below the long-term average of 4.6%. Fitch expects the default rate to rise to 2% this year. "The constructive outlook ... is heavily dependent on steady, if not stellar macro conditions." No worries there! 1 Comment [U.S. Economy]
- Friday, January 25, 3:16 PM At the same time high-yield paper has gotten to about its priciest levels ever, the maturity has also gotten longer. Notes expiring in 7 years now make up 39.4% of the U.S. High Yield Master Index. In 2009, notes expiring in 2016 accounted for just 15.3% of the index. 2 Comments [Financials]
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