iShares launches ETF for global high yield
BlackRock’s exchange-traded fund platform iShares has launched what it calls Europe’s first global high yield bond ETF. The iShares Global High Yield Bond ETF invests in developed market high yield bonds in US and Canadian dollars, euros and sterling.
The fund tracks the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index. It holds sampled bonds physically, and no more than 3% of the fund can be invested in any single issuer.
Some of the funds largest holdings are US-based Ally Financial and Reynolds Group, as well
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