SPDR Bloomberg International Corporate Bond ETF (ARCA: IBND)

에 대한 최신 뉴스 SPDR Bloomberg International Corporate Bond ETF (ARCA:IBND)

SPDR Bloomberg International Corporate Bond ETF

SPDR Bloomberg Barclays International Corporate Bond ETF

SPDR Barclays International Bond ETF

The fund invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in securities that the Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the index. The index is designed to be a broad based measure of the global investment grade, fixed rate, fixed income corporate markets outside the United States.

Ssi Us Gov Money Market Class

The Fed may have enacted three rate hikes this year but geopolitics and mixed U.S. economic readings have kept U.S. Treasury yields at check.&nbsp;U.S. benchmark Treasury bond yields have hovered in the range of 2.05% to 2.62% this year (as of Dec 27, 2017), with an average of 2.33%.
Trump&#39;s policy uncertainty in the middle of the year and Fed minutes, which showed policymakers&#39; suspicion about subdued inflation, probably led to this move in the fixed income market. Though the economy picked up pace in the fourth quarter, President Trump passed the tax reform agenda and the Fed enacted its final hike, average bond yields (2.37%) did not shoot up materially.&nbsp;
This was because, with Fed officials sticking to their outlook for three more rate hikes in 2018 despite speeding economic growth, there is no spark in the guidance either. In fact, an air of dovishness was prevalent. The median Fed funds rate for this year and the next were unchanged (read: <a href="https://www.zacks.com/stock/news/286001/etf-winners-amp-losers-post-partly-dovish-fed-meet">ETF Winners &amp; Losers Post Partly Dovish Fed Meet</a>).
As a result, bond funds returned decently in 2017. PIMCO 25+ Year Zero Coupon US Treasury ETF ZROZ returned about 12% this year against 19.6% returns in SPDR S&amp;P 500 ETF SPY.
However, there are several international bond ETFs that offered great returns during this time frame. Since most of the developed economies are still practicing a low interest rate policy, international bonds got a chance to roar even higher. Against this backdrop, below we highlight a few top-performing bond ETFs.
iShares International High Yield Bond ETF HYXU &ndash; Up 17.8%
The underlying Markit iBoxx Global Developed Markets ex-US High Yield Index is a rules-based one, consisting of high yield corporate bonds denominated in Euros, British pounds sterling and Canadian dollars. The index is designed to provide a broad representation of the global ex-U.S. dollar high yield corporate bond market. The fund charges 40 bps in fees.
SPDR Bloomberg Barclays International Corp Bond ETF IBND &ndash; Up 13.5%
The 618-security fund looks to provide broad exposure to the global investment grade, fixed rate, fixed income corporate markets outside the United States. The fund charges 50 bps in fees. Average maturity in years is 6.61, while adjusted duration is 5.82 years.&nbsp;
PowerShares International Corp Bond ETF PICB &ndash; Up 11.3%
The underlying index measures the performance of investment grade corporate bonds issued by non-U.S. issuers. The 411-stock fund charges 50 bps in fees. Years to Maturity of the fund is 9.32 and effective duration is 7.31 years.
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND &ndash; Up 11.1%
The underlying index &ndash; the Bloomberg Barclays EM Local Currency Government Diversified Index &ndash; is designed to measure the performance of the fixed-rate local currency sovereign debt of emerging market countries. The fund looks to offer exposure to fixed-rate local currency sovereign debt of emerging market countries. It charges 40 bps in fees. Average maturity of the fund is 7.36 years and adjusted duration is 5.29 years.
VanEck Vectors JP Morgan EM Local Bond ETF EMLC &ndash; Up 7.5% 
The fund comprises 266 bonds issued by emerging market governments and denominated in the local currency of the issuer. The fund charges 44 bps in fees. Years to Maturity of the fund is 7.65 and effective duration is 5.10 years. The fund yields about 5.34% annually (as of Dec 27, 2017) (read: <a href="https://www.zacks.com/stock/news/271415/em-etfs-what-you-need-to-know-before-investing">EM ETFs: What You Need to Know Before Investing</a>).
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/bond etfs chart.jpg" style="width: 620px; height: 166px;" />

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	<a href="http://www.zacks.com/stock/news/287276/5-best-bond-etfs-of-2017?cid=CS-BENZ-FT-287276">To read this article on Zacks.com click here.</a> 
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Specialty ETFs

ETFs

EBND

Market Vectors Emerging Markets Local Currency Bond ETF

EMLC

HYXU

SPDR Barclays Capital Internationalorate Bond ETF

IBND

PICB

PIMCO 25+ Year Zeroupon US Treasury Index Fund

ZROZ

5 Best Bond ETFs Of 2017

U.S. Treasuries are, well, lame and they don't offer much in the way of compelling yields. That's unfortunate because many investors either need or want added fixed income exposure within their portfolios. 

The good news is that there are myriad options when it comes to international bond ETFs that offer strong yields and the potential for capital appreciation. For some reason, a lot of these fixed income options go unnoticed, but let's change that today and have a look at four international bond ETFs that aren't getting a lot of press.

Market Vectors LatAm Aggregate Bond ETF (NYSE: <a class="ticker" href="/stock/bono#NYSE">BONO</a>):
The Market Vectors LatAm Aggregate Bond ETF is still in its infancy after a May debut, but the ETF is off to a decent start with $7.4 million in assets under management. Nearly 79% of the sovereign and non-sovereign debt held by BONO is rated investment graded. Most of the rest is non-investment grade, so there's a good mix of conservative and speculative within this ETF. 

Brazil, Mexico and Colombia represent about two-thirds of BONO's country weight. You'll love the 5.5% trailing 12-month yield.

WisdomTree Asia Local Debt Fund (NYSE: <a class="ticker" href="/stock/ald#NYSE">ALD</a>):
ALD is an actively managed ETF that made its debut in March. The ETF's 0.55% expense ratio is very fair for an actively managed fund and investors have embraced this ETF, pouring nearly $660 million in assets into it. Most of ALD's holdings are either not rated are investment grade. Country exposures are as follows: South Korea, Malaysia, Indonesia, Philippines, Thailand, India, China, Hong Kong, Singapore, Taiwan, Australia and New Zealand.

SPDR Barclays Capital International Corporate Bond ETF (NYSE: <a class="ticker" href="/stock/ibnd#NYSE">IBND</a>):
Just over a year old, IBND has pulled in $56 million in AUM and currently holds almost 460 international issues. International sort of as the U.S. accounts for 18% of this ETF's country weight. Germany, France, the U.K. and the Netherlands also receive double-digit weights. Three sectors, financials, industrials and utilities, comprise IBND's entirely investment grade holdings.

WisdomTree Emerging Markets Local Debt Fund (NYSE: <a class="ticker" href="/stock/eld#NYSE">ELD</a>):
ELD is similar to ALD, but with a broader emerging markets focus. Also home to a 0.55% expense ratio, ELD has attracted $1.4 billion in AUM in 13 months since its debut. Nearly a third of ELD's holdings aren't rated, but most of the rest are investment grade. Country exposures are as follows: Brazil, Chile, Colombia, Mexico, Peru, Poland, Turkey, South Africa, Russia, Malaysia, Indonesia, Philippines, Thailand, and South Korea. Distribution yield: 5.13%.

Long Ideas

News

Bonds

Short Ideas

New ETFs

Emerging Market ETFs

Currency ETFs

Global

Intraday Update

Markets

Trading Ideas

BONO

Four International Bond ETFs Your Broker Forgot To Mention

BRAF

iShares MSCI Ireland Capped Investable Market Index Fund

EIRL

iShares FTSE EPRA/NAREIT Europe Index Fund

IFEU

iPath DJ-UBS Lead Subindex Total Return ETN

ETF Deathwatch for April 2011: A Vanguard Fund Makes The List

As strength of a sustainable economic recovery continues to remain wary, unemployment remains high and consumer demand grows at a snail’s pace, corporate bonds, and the exchange traded(...)Read the rest of A Diversified Approach To Play Corporate Bond ETFs (IBND, PICB, VCSH) 
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A Diversified Approach To Play Corporate Bond ETFs (IBND, PICB, VCSH)

With yields on U.S. treasuries looking paltry and many sovereign nations on shaky ground, interest in international corporate bonds is picking up. Despite the growing problems in the Euro zone, there are plenty of great companies within the region that are looking to raise capital. Corporate bonds from these countries might be less volatile and add to an investors overall yield. To satiate investor appetite for these assets, two new exchange traded funds have launched in the sector. 

The SPDR Barclays Capital Intl Corp Bond (NASDAQ: <a class="ticker" href="/stock/ibnd#NASDAQ">IBND</a>) focuses on investment-grade corporate bonds and gives exposure to the Euro, Aussie, Loonie, Kiwi, Pound, Yen, Swiss Franc, Swedish Krona, and the Danish and Norwegian Krone. The fund does include U.S. company bonds that are payable in other currencies. The proposed yield on the fund is 3.05 percent with an average maturity of 5.3 years. 

The PowerShares International Corporate (NASDAQ: PICB) follows a similar structure with the added exclusion of U.S. companies and uses a sampling strategy with its index. The fund has distribution yield of 3.35 percent and holds 26 different bonds. 

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Dividends

Forex

International Corporate Bonds: A New Way To Play Developed Markets

Last week I <a href="http://randomroger.blogspot.com/2010/06/bond-etf-portfolio.html">posted a bond ETF portfolio</a> to spark some conversation about how to structure bond portfolios and the role ETFs can or should play in a diversified bond portfolio. Before the virtual ink dried on that one we've had quite a few new bond ETFs come out so I thought it would be interesting to construct a completely different portfolio and see where the discussion goes.
The portfolio from last week was;
iShares TIP Bond Fund (TIP) (client holding) iShares iBoxx Investment Grade Corp Bond Fund (LQD) iShares Barclays Intermediate Credit Bond Fund (CIU) iShares JPMorgan USD Emerging Markets Bond Fund (EMB) Currency Shares Australia Trust (FXA) (client holding)
For the portfolio this week, I'm mostly targeting the same segments of the bond market but hopefully the funds are different enough to continue the dialogue.
PIMCO 1-5 Year TIPS ETF (STPZ) (I own this one) Claymore Bulletshares 2013 Corporate Bond ETF (BSCD) SPDR Barclays Convertible Securities ETF (CWB) SPDR Barclays Capital International Corporate Bond ETF (IBND) iShares Diversified Alternatives Trust (ALT) WisdomTree Dreyfus Brazilian Real Fund (BZF)
So the TIP exposure; obviously I believe in the exposure despite the balance tilting toward deflation these days. The other day a reader left a comment on a different post saying why he liked the iShares 1-3 Year Treasury Bond Fund (SHY). Since STPZ' inception it is up 3.39% versus 0.26% for SHY. The two seem to have the same day to day volatility but STPZ has been inching up as opposed to inching sideways. STPZ has payed a few small dividends but interestingly the dividends are a little bigger (eyeballing the dividends reported on Yahoo finance) than from SHY.
Claymore just (as in yesterday) listed a suite of corporate bond ETFs that each target maturing in a specific year. They run from 2011-2017 and the funds will liquidate on December 31 of the year they are scheduled to mature. They obviously allow for targeting very narrow portfolio elements which is a plus but the yield will still not be constant from the day someone might buy one of the funds. The reason for this is that over time if the funds attract assets then more bonds will have to be bought for the fund and those subsequent purchases will take in the prevailing yield at that time. I think this concept for an ETF is a huge positive because while the yield might move the interest rate sensitivity will be very similar to buying an individual bond with the same maturity. Including BSCD in this portfolio creates awareness for anyone who has not heard about these funds yet.
CWB's chart looks a lot like the chart for the SPDR High Yield Bond ETF (JNK). Since CWB's inception 14 months ago it is up 17.91% versus 12.89% for JNK. CWB was not around in 2008 but in the last few weeks CWB is down 5.38% versus 4..07% for JNK. When times are good CWB is a good bet to party on, relative to bond funds, but it will likely feel plenty of pain during the bad times. The question becomes do you want that sort of attribute in your bond portfolio in the current environment.
IBND is also a new fund. I <a href="http://www.blogger.com/http//www.thestreet.com/story/10775140/1/european-bond-etf-targets-volatile-currencies.html">wrote about it</a> for thestreet.com so the short version is that it is very heavy in euro denominated bonds which is a negative. One point I make in the street article is that for the time being corporate bonds in Europe could be less volatile than sovereigns and as ugly as the euro is right now, it is down a lot from where it was.
ALT is not a bond fund, it is an absolute return vehicle. In its six months it has generally traded like a bond fund minus the yield. The point is not to buy a fund that pays no dividend but to think about the possibility that if interest rates rise some portion of a bond portfolio should possibly be allocated to bond fund substitutes. The Collar Fund (COLLX) bills itself as a bond substitute. If rates do go up in a meaningful way bond funds will go down in varying magnitudes. Finding a couple of things to hold that might pay a little interest but more importantly are less likely to go down a lot if rates go up a lot could be better ways to offset the volatility of an equity portfolio.
The question with BZF, as in the other post with FXA, is whether or not a currency fund can be a bond fund substitute. BZF went down quite a bit less than JNK in 2008 and came back quicker too. It has been much bumpier than the iShares 3-7 Year Treasury ETF (IEI) most of the time but that may not be as useful a comparison as with JNK.
There are increasingly more bond ETFs available making more sophisticated portfolios possible. This space will continue to see new product come making it all the more useful--like maybe single country bond ETFs, the indexes for these already exist. PowerShares (I think it was PowerShares) filed for bond sector funds a while back, it would be nice to see those list as well. 
<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/8532070-2116255127002563798?l=randomroger.blogspot.com' alt='' /></div>

Spdr Barclays Capital Convertible Securities Etf

iShares JPMorgan USD Emerging Markets Bond Fund

iShares Trust Barclays 1-3 Year Treasury Bond Fund

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SPDR Bloomberg International Corporate Bond ETF

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