See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
iShares US & Intl High Yield Corp Bond ETF (GHYG) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
iShares US & Intl High Yield Corp Bond ETF (GHYG) - free report >>
Image: Bigstock
Global High Yield Corporate Bond ETF (GHYG) Hits New 52-Week High
For investors seeking momentum, iShares Global High Yield Corporate Bond ETF (GHYG - Free Report) is probably on radar now. The fund just hit a 52-week high of $49.98. Shares of GHYG are up roughly 7.4% from their 52-week low price of $46.54/share.
But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea on where it might be headed:
GHYG in Focus
The fund looks to track the performance of the Markit iBoxx Global Developed Markets High Yield Index. The fund is heavy on the U.S. (65.1%) followed by U.K. (5.93%). The effective duration and weighted average maturity of the fund are 3.65 years and 4.07 years, resulting in moderate interest rate and default risks. The fund charges 40 bps in total fees (see High-Yield/Junk Bond ETFs here).
Why the Move?
As global growth and corporate earnings are on the mend, investors have perhaps turned to this corporate bond fund. While the Fed is slowly raising interest rates, several global central banks, particularly in developed economies, are still on an accommodative mode. This pushed investors to crave for higher yield and bet on this fund. Notably, the fund yields about 4.91% annually.
More Gains Ahead?
The fund has a positive weighted alpha of 5.60. A positive weighted alpha hints at more gains. As a result, there is definitely still some promise for investors who want to ride on this surging ETF.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>