MINT: PIMCO Enhanced Short Maturity Strategy ETF Instablogs

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Wednesday, June 5, 12:50 PM The SEC unveils major money-market reform plans aimed at reducing the risk of runs. As expected, the main plank requires prime funds - where institutional investors play - to discard their fixed $1/share value in favor of a floating NAV. Retail and government funds - not considered at risk for runs - will not be forced to do so. The proposals are expected to drive interest in so-called short-duration ETFs which already have floating NAVs, MINT, BIL, SHV, and GSY among them. 1 Comment
Thursday, May 23, 10:12 AM The 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!
Thursday, May 16, 1:28 PM Fund managers like BlackRock (BLK) and Legg Mason (LM) get ahead of what could be a "seismic reallocation of assets" by launching "ultra-short" funds with floating NAVs ahead of new money market regulations. These funds are different than the "ultra-short" funds which ran into trouble in 2008 in that their maturities are even shorter and they can only invest in high-grade debt. Somewhat similar ETF offerings: SHV, MINT, BIL, PVI, GSY, VRD, RAVI. 1 Comment [Financials]
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!
Tuesday, March 19, 3:59 PM The AdvisorShares NewFleet Multi-Sector Income ETF (MINC) is set to launch Wednesday. The fund will aim for a duration of 1-3 years and own mostly investment-grade debt, but can also invest in government, emerging market, and high-yield paper. The total annual cost will be 0.75%, more than double that of likely competitor - Pimco's $2.8B MINT. Comment!
Wednesday, March 13, 10:12 AM Trying to turn back coming regulation, Fidelity throws its support behind "liquidity gates" and fees on money-market funds during times of market stress. The proposed model would temporarily halt redemptions should liquid assets fall below a certain level. Should liquidity continue to decline, a 1% redemption fee would be imposed. Short-duration ETFs (SHV, MINT to name two) are sounding better and better. Comment! [Financials, U.S. Economy]
Tuesday, February 12, 2:45 PM The presidents of all 12 Fed regional banks pen a letter backing a regulatory push for money-market reform. "Money market funds have no capacity to absorb losses in the event of a decrease in the value of (held) assets." MINT, BIL, SHV, and GSY see a few more dollar inflows. 2 Comments [Financials, U.S. Economy]
Thursday, January 31, 2:14 PM WisdomTree's (WETF) latest (pdf) is the actively managed Global Corporate Bond ETF (GLCB). Unique in that it can invest in any corporate bond listed anywhere in the globally, GLCB charges 0.45%. Competing ETFs: Passive IBND (ER 0.55%) has significantly less emerging market and high yield exposure but has a similar intermediate duration. Active FWDB (ER 1.26%) is more similar geographically and credit grade-wise but mixes in non-corporate fixed income. RAVI (ER 0.25%) and MINT (ER 0.35%) are both actively managed but have much shorter durations and minimal high yield exposure. RAVI has no emerging exposure. Comment!
Thursday, January 10, 9:40 AM If money market funds are going to end up with floating NAVs that could "break the buck," (see yesterday's moves) why not try short-duration bond ETFs? The larger ones (SHV, MINT) have plenty of liquidity and have better yields than money market offerings. Comment!
Friday, November 30, 2012, 11:05 AM If the Feds force money-market funds into floating NAVs, the funds' competitive advantage over short-duration ETFs (which already float) will be erased. Schwab's move into the arena earlier this week suggests it sees the writing on the wall. Others include: MINT, BIL, SHV, GSY. Comment!
Monday, November 26, 2012, 1:19 PM Schwab joins BlackRock and Legg Mason in filing to launch an ETF to challenge Pimco's MINT in the actively-managed short maturity fixed-income area. Meant as a higher-yielding alternative to money market funds, MINT has garnered $2B in AUM since its 2009 launch. Its 0.35% fee will be challenged by BlackRock's 0.25% charge. Comment!
Friday, September 2, 2011, 6:13 AM SPDR 1-3 Month T-Bill ETF (BIL) raked in $2.12B in new inflows in August, representing a tripling of its AUM to $3.13B. This despite the fact it closed the month with a yield of just 0.08% as investors sought safety during record volatility. SPDR Gold Trust (GLD) led all ETF outflows, with nearly $2B in redemptions in August. 1 Comment
Wednesday, December 9, 2009, 10:19 AM T. Rowe Price (TROW) asks for regulatory approval to launch actively-managed stock and bond ETFs, the first time a leading stock fund manager has decided to jump into the active ETF space (bond manager Pimco (AZ) launched an actively-managed bond ETF (MINT) last month). Matt Hougan thinks the active ETF party's just getting started. Comment!

MINT PIMCO Enhanced Short Maturity Strategy ETF

MINT

PIMCO Enhanced Short Maturity Strategy ETF