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Vanguard High-Yield Corporate Message Board

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  • friend_of_the_deceased friend_of_the_deceased Nov 22, 2008 7:39 PM Flag

    Here is the trade.

    The correlation has been very high. One day, week, month, doesn't really mean anything. Go overlay the graph of IWM with VWEHX or JNK and it becomes obvious.

    However, you could short HYG or JNK instead in the taxable account. But it ties up a lot more capital, you have to pay dividends and the trading spreads are much wider, so your expenses become much higher.

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