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WisdomTree Emerging Market Local Debt ETF (ELD)

- NYSEARCA
  • Aug. 15, 2013, 11:12 AM
    • Anything paying income is again being particularly hard hit by the rise in Treasury yields (the 10-year now at a 2-year high of 2.8%).
    • Selections in mREITs (REM -2.1%), (MORT -1.9%) include RAIT Financial Trust (RAS -4.1%) - whose IRT had an ill-timed IPO yesterday and Ellington Residential (EARN -4.8%) - the market not caring about reasonable Q2 performance, a hefty discount to book, and the launch of a repurchase program. Other mREITs: CYS Investments (CYS -3.6%), Apollo (AMTG -3%), Newcastle (NCT -5%), Invesco (IVR -2.7%), Arlington Asset (AI -1.2%). A leveraged ETF play: MORL.
    • Hanging in there relatively well are the BDCs: Fifth Street (FSC -1.3%), Triangle (TCAP -1%), MCG (MCGC -1.2%), Hercules (HTGC -1.2%), Ares (ARCC -0.3%).
    • BDC ETFs: BDCS, BDCL, BIZD.
    • In emerging markets fixed income, a trader takes note of EDD,  a closed-end fund now trading at more than a 15% discount to NAV.
    • Emerging market bond ETFs: EMB, LEMB, PCY, EMLC, ELD, PFEM, EBND, VWOB.
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ELD Description
WisdomTree Emerging Markets Local Debt Fund seeks a high level of total returns consisting of both income and capital appreciation. The fund attempts to achieve its investment objective through investment in local debt denominated in the currencies of emerging market countries.
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