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MINT - SHV: Looming Dividend Cuts In Short Treasury ETF After Fed Rate Cuts
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
When the Fed began its rate hike cycle back in 2016, the iShares Short Treasury ETF (SHV) was a major beneficiary as its dividend payout and total return started trending higher from zero to recently over 2%. Due to the fact that SHV invests only in Treasury notes that mature within a year, the ETF rolls over maturing securities to recently issued Treasury notes that have coupons based on prevailing one-year Treasury yield. As such, SHV's top holdings are mixed between Treasury notes that were issued last year when rates were above 2% and those