HYLB - AllianceBernstein unveils an actively managed high yield based corporate bond ETF

2023-05-15 09:41:37 ET

The global asset management and research firm AllianceBernstein unveiled its latest exchange traded fund to the market. The company has launched the AB High Yield ETF (HYFI) which is an actively managed fixed income fund that now trades on the New York Stock exchange.

HYFI intends to provide the investment community exposure to U.S. high-yield corporate bonds that offer income as the fund emphasizes on three pillars: security selection, dynamic beta management and a disciplined investment process. Additionally, HYFI also comes attached with a 0.4% expense ratio.

Regarding the launch, "The AB High Yield ETF broadens our offerings for clients by ultimately supplying them with a flexible vehicle to weather various market conditions," said Global Head of ETFs and Portfolio Solutions Noel Archard.

Furthermore, shares of HYFI will also find itself competing for market share against other funds that offer similar high yield exposure. Some of those names include the iShares iBoxx $ High Yield Corporate Bond ETF ( NYSEARCA: HYG ), iShares Broad USD High Yield Corporate Bond ETF ( BATS: USHY ), SPDR Bloomberg High Yield Bond ETF ( NYSEARCA: JNK ), Xtrackers USD High Yield Corporate Bond ETF ( HYLB ), and the VanEck Fallen Angel High Yield Bond ETF ( NASDAQ: ANGL ).

Year-to-date price action: HYG +0.8% , USHY +1.1% , JNK +1.2% , HYLB +1.1% , and ANGL +0.8% .

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