Assets : $313.8 million.
Objective : The 0-5 Year High Yield Corporate Bond Index Fund tries to reflect the performance of the BofA Merrill Lynch 0-5 Year High Yield Constrained Index, which is comprised of high-yield corporate bonds with a short maturity.
Holdings : Top holdings include: Repo 6.5%, Ally Financial 2.5%, Sprint Nextel 2.1%, HCA Unsec Glbl 1.8% and MGM Resorts Intl 1.5%.
What You Should Know :
- The Pacific Investment Management Company sponsors the fund.
- HYS has an expense ratio of 0.55%.
- The fund has 212 holdings and the top ten make up 20.3% of the overall portfolio.
- The ETF has an effective maturity of 2.71 years and an effective duration of 1.8 years.
- S&P credit rating breakdown include: BBB 0.9%, BBB- 5.3%, BB+ 12.7%, BB 11.5%, BB- 14.6%, B+ 10.9%, B 8.7%, B- 14.8%, CCC+ 7.1%, CCC 5.2%, CCC- 1.2 and D 0.2%.
- Country allocations: U.S. 84.3%, U.K. 3.2%, Canada 2.5%, Norway 2.3%, Australia 1.8%, Luxembourg 1.8%, Germany 1.1%, France 1.1% Japan 0.9%, Netherlands 0.5% and other 0.6%.
- HYS has a dividend yield of 5.5%.
- The fund is up 1.4% over the last month, up 0.9% of the past three months and up 4.1% year-to-date.
- The ETF is 1.0% above its 200-day exponential moving average.
The Latest News :
- A new Fitch Ratings report revealed that the trailing 12-month U.S. high yield default increased to 2.2% in May, the first time defaults are above 2% since October 2010, according to a press release.
- May defaults added a combined $3.9 billion in bonds, with year-to-date defaults at $9.6 billion.
- Nevertheless, the report also noted that a large group of high yield debt rated BB or B confirmed that U.S. corporate fundamentals still remain in healthy shape.
- About two thirds of companies sampled had year-over-year increases in revenue and EBITDA through the first quarter.
PIMCO 0-5 Year High Yield Corporate Bond Index Fund
For past stories in this series, visit our ETF Spotlight category.
Max Chen contributed to this article.