에 대한 최신 뉴스 Schwab U.S. TIPs ETF (ARCA:SCHP)

Schwab U.S. TIPs ETF

To pursue its goal, the fund generally invests in securities that are included in the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L). The index includes all publicly issued U.S. Treasury Inflation-Protected Securities (TIPS) that have at least one year remaining to maturity, are rated investment grade and have dollar 500 million or more of outstanding face value. The TIPS in the index must be denominated in U.S. dollars and must be fixed rate and non-convertible. The index is market capitalization weighted and the TIPS in the index are updated on the last business day of each month. As of December 31, 2023, there were 48 TIPS in the index. TIPS are publicly issued, dollar denominated U.S. Government securities issued by the U.S. Treasury that have principal and interest payments linked to an official inflation measure (as measured by the Consumer Price Index, or CPI) and their payments are supported by the full faith and credit of the United States.

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글로벌 투자 대기업 블랙록은 물가연동채권에 대한 &#39;비중 확대&#39;를 발표하며 &#39;지속적인 인플레이션 압력&#39;과 미국 정부 재정의 지속가능성에 대한 우려 증가로 인한 위험을 완화하기 위한 전략적 전환을 예고했다.

블랙록, 미국 재정 지속가능성 우려 속 물가 상승에 베팅···고려할 만한 물가연동채권 ETF는?

Global investment giant BlackRock has announced being &#8220;overweight&#8221; on inflation-linked bonds, signaling a strategic shift to mitigate risks stemming from &#8220;persistent inflation pressure&#8221; and growing concerns over the sustainability of U.S. government finances.
What Happened: This move comes as the firm navigates a complex economic landscape characterized by transformative &#8220;mega forces&#8221; and a challenging outlook for long-term asset allocation.
A key driver for BlackRock&#8217;s pivot to inflation-linked bonds is the mounting pressure on U.S. fiscal sustainability.
The firm specifically cited <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">Moody&#8217;s recent downgrade</a> of the U.S. government&#8217;s top-notch credit rating, which reinforced BlackRock&#8217;s long-standing concerns about persistent U.S. budget deficits, particularly as rising interest rates escalate debt servicing costs.
The note also highlights how the U.S. debt sustainability relies on large and steady funding by foreign investors.
&#8220;The downgrade reinforces the U.S. fiscal sustainability challenge that we&#8217;ve long flagged, especially persistent U.S. budget deficits at a time when higher interest rates are boosting debt servicing costs. If these dynamics dent the confidence of foreign bond holders, rising term premium could push up bond yields and debt servicing costs even more,&#8221; explained BlacRock in its note.
Consequently, BlackRock&#8217;s strategic starting point now incorporates an expectation of rising term premiums for U.S. Treasuries and persistent inflation.
&#8220;That's why our starting point also includes our expectation of rising term premium for U.S. Treasuries and persistent inflation pressure. We go overweight inflation-linked bonds and neutral global investment grade credit given wider spreads,&#8221; the note stated.
These securities are designed to protect investors from inflation by adjusting their principal value based on changes in the Consumer Price Index (CPI), ensuring that the real value of the investment is preserved.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45512063/ray-dalio-warns-against-decreasing-value-of-us-dollar-amid-mounting-government-debt-risks-are-greater-than-the-rating-agencies-are-conveying">Ray Dalio Warns Against Decreasing Value Of US Dollar Amid Mounting Government Debt: &#8216;Risks Are Greater Than The Rating Agencies Are Conveying&#8217;</a>
Why It Matters: For investors seeking exposure to this strategy, a few of the inflation-linked bond ETFs available include:
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Inflation-Linked Bond ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Vanguard Short-Term Inflation-Protected Securities ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTIP#NASDAQ">VTIP</a>)</td>
<td>3.03%</td>
<td>3.68%</td>
</tr>
<tr>
<td>iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>)</td>
<td>2.04%</td>
<td>2.21%</td>
</tr>
<tr>
<td>Schwab U.S. TIPS ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHP#NYSE">SCHP</a>)</td>
<td>2.44%</td>
<td>2.05%</td>
</tr>
<tr>
<td>iShares 0-5 Year TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STIP#NYSE">STIP</a>)</td>
<td>1.79%</td>
<td>3.15%</td>
</tr>
<tr>
<td>FlexShares iBoxx 3-Year Target Duration TIPS Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDTT#NYSE">TDTT</a>)</td>
<td>1.99%</td>
<td>2.29%</td>
</tr>
<tr>
<td>SPDR Bloomberg 1-10 Year TIPS ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIPX#NYSE">TIPX</a>)</td>
<td>2.49%</td>
<td>2.87%</td>
</tr>
<tr>
<td>SPDR Portfolio TIPS ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPIP#NYSE">SPIP</a>)</td>
<td>1.85%</td>
<td>1.22%</td>
</tr>
<tr>
<td>FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDTF#NYSE">TDTF</a>)</td>
<td>2.41%</td>
<td>2.10%</td>
</tr>
<tr>
<td>PIMCO 15+ Year US TIPS Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTPZ#NYSE">LTPZ</a>)</td>
<td>-0.90%</td>
<td>-4.69%</td>
</tr>
<tr>
<td>PIMCO 1-5 Year US TIPS Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STPZ#NYSE">STPZ</a>)</td>
<td>2.23%</td>
<td>3.88%</td>
</tr>
</tbody>
</table>
</figure>
&#8220;Economic transformation makes long-term portfolio construction more challenging,&#8221; BlackRock concluded, emphasizing its new approach of utilizing a starting point scenario for strategic views while formally tracking other potential outcomes to ensure portfolio agility.
While U.S. assets remain central to their portfolios, the move into inflation-linked bonds underscores a proactive stance against emerging fiscal and inflationary headwinds.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Monday. The SPY was up 0.11% to $594.85, while the QQQ advanced 0.096% to $522.01, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Tuesday, the futures of the S&amp;P 500, Dow Jones, and Nasdaq 100 indices were trading slightly lower.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45510990/federal-reserve-should-do-nothing-at-all-about-the-rising-yields-says-craig-shapiro-let-the-bond-vigilantes-eat" target="_blank" rel="noreferrer noopener">Federal Reserve Should Do ‘Nothing At All' About The Rising Yields, Says Craig Shapiro: ‘Let The Bond Vigilantes Eat'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tada Images / Shutterstock.com

BlackRock Bets On Inflation, Goes 'Overweight Inflation-Linked Bonds' Amid US 'Fiscal Sustainability Challenge:' Here's A List Of ETFs Investors Can Consider

The Office of West Virginia Representative Carol Devine Miller has reported a sale of Schwab U.S. TIPs ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHP#NYSE">SCHP</a>) stock on January 4, 2023. According to the Periodic Transaction Report the transaction was placed on January 4, 2023.
What Happened: A recent report from the House of Representatives Clerk's Office on January 4, 2023 reveals that Miller made a sale of <a href="www.benzinga.com/quote/SCHP">Schwab U.S. TIPs ETF</a> stock valued between $100,001 - $250,000.
Schwab U.S. TIPs ETF shares are trading down 0.41% at $51.76 at the time of writing.
<h3>Why Congressional Transactions Matter</h3>
Congressional transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
A Congressional transaction is when any Representative or Senator either buys or sells an individual stock. Anyone working in Congress must file a Periodic Transaction Report to inform the public of their recent transaction within 30 days of being notified of the transaction and within 45 days of the transaction date.
When a Senator or Representative makes a new purchase, that could be an indication that they expect the stock to rise.
A sale, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.
In April 2012, Former President Barack Obama signed the STOCK Act into law. The act prohibits members of Congress from using private information given to them by their position for personal gain such as buying or selling a stock. The act also expanded disclosure requirements for members of Congress by requiring them to file a monthly disclosure. 
<h3>Trade Recap</h3>
A January filing states that West Virginia Representative Carol Devine Miller sold shares of Schwab U.S. TIPs ETF. The exact amount of the transaction remained unknown but the filing states a range of $100,001 - $250,000.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Recent Filing Shows That Rep. Carol Devine Miller Sold Over $100K Worth of Schwab U.S. TIPs ETF Stock

Each day, Benzinga takes a look back at a notable market-related moment that happened on this date.
What Happened?&nbsp;On this day in 1997, the U.S. Treasury introduced the first Treasury Inflation-Protected Securities (TIPS).
Where Was The Market?&nbsp;The S&amp;P 500 was trading at 772.50 and the Dow Jones Industrial Average was at 6740.74.
What Else Was Going On In The World?&nbsp;In 1997, Apple Inc. (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>) co-founder Steve Jobs returned to the company, and the Mars Pathfinder successfully landed on the surface of Mars. A pound of hamburger meat cost $1.38.
Bond Investors Get Inflation Hedge: After years of having to battle inflation when buying Treasury bonds, investors got their first crack at TIPS investing in 1997. While the coupon rates of TIPS are constant, the principals are adjusted based on the Consumer Price Index, a commonly used metric for measuring inflation.
Treasury bonds are considered some of the <a href="https://www.investopedia.com/terms/t/tips.asp">lowest-risk investments</a> out there due to their backing by the U.S. government. TIPS eliminate even more of the risk involved in Treasury bond investing. This lower risk comes at a price, however, as TIPS typically carry interest rates that are lower than other government or corporate bonds.
Investors can buy TIPS for as little as $100 using the TreasuryDirect system. TIPS pay interest semiannually and are currently offered with maturities of five years, 10 years and 30 years.
For investors who would prefer to buy TIPS ETFs, popular choices include the iShares Barclays TIPS Bond Fund (ETF) (NYSE: <a class="ticker" href="/stock/tip#NYSE">TIP</a>), the Vanguard Asset Allocation Fund (NASDAQ: <a class="ticker" href="/stock/vtip#NASDAQ">VTIP</a>) and the Schwab Strategic Trust (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>).

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This Day In Market History: US Treasury Introduces TIPS

As of July 16, Charles Schwab Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schw#NYSE">SCHW</a>) is the fifth-largest U.S. issuer of exchange traded funds with $145.71 billion in assets under management. It didn&#39;t get that way by offering a lot of funds.
<h3>What Happened</h3>
Schwab <a href="https://investorplace.com/2019/07/7-of-the-best-schwab-etfs-for-low-fees/">offers just 22 ETFs</a>, spanning equities and fixed income, but that number is poised to swell to 25 as the issuer looks to tap into surging demand for bond funds. According to a recent filing with the Securities and Exchange Commission, <a href="https://www.benzinga.com/money/charles-schwab-review/">Schwab </a>plans to launch new ETFs with exposure to corporate bonds and U.S. government debt.
Schwab&#39;s &ldquo;asset management arm is planning to start three new products focused on corporate bonds and Treasuries, almost doubling the number of debt exchange-traded funds it offers, regulatory filings show,&rdquo; <a href="https://www.newsmax.com/finance/investinganalysis/schwab-three-funds-etf/2019/07/17/id/924808/">reports Bloomberg</a>.
<h3>Why It&#39;s Important</h3>
Current Schwab bond ETFs include the Schwab U.S. Aggregate Bond ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schz#NYSE">SCHZ</a>), Schwab U.S. TIPS ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schp#NYSE">SCHP</a>), Schwab Short-Term U.S. Treasury ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/scho#NYSE">SCHO</a>) and the Schwab Intermediate-Term U.S. Treasury ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schr#NYSE">SCHR</a>).
While those four funds are cost-effective and popular with investors, only SCHZ, and only in modest fashion, features exposure to any other than U.S. government debt. With demand for bond ETFs hitting record highs, Schwab is looking to fill some of its fixed income ETF voids with the Schwab Short-Term Corporate Bond ETF (SCHJ) and the Schwab Intermediate-Term Corporate Bond ETF (SCHI).
The other new bond ETF planned by Schwab is the Schwab Long-Term U.S. Treasury ETF (SCHQ). Competitors such as iShares, Vanguard, State Street and Invesco feature extensive bond ETF lineups including municipal bond funds, international debt offerings and more.
<h3>What&#39;s Next</h3>
If Schwab&#39;s precedent is a guide, the new ETFs will likely be among the least expensive in their respective categories, enabling the rookie funds to challenge established rivals out of the gate. The filing didn&#39;t mention plans for high-yield debt or municipal bond ETFs, which Schwab currently does not offer.
&ldquo;The decision marks a shift for Charles Schwab Investment Management, which has largely ridden its equity-fund offerings to become the fifth-largest ETF issuer in the U.S.More than 84% of the $146 billion in Schwab ETFs is invested in stocks,&rdquo; according to Bloomberg.
Related Links:
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<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/07/14084942/evaluating-the-epicenters-of-e-commerce-trends">EBIZ ETF For E-Commerce</a>
Photo credit: <a href="https://www.flickr.com/photos/jeepersmedia/14763506934">Mike Mozart</a>, Flickr

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In Rare Move, Schwab Expected To Launch New ETFs

Flows to exchange traded funds in 2018 are unlikely to approach the record $450 billion seen last year. This year&#39;s ETF inflows totals will likely be on par with or slightly exceed the $200 billion seen from 2014 through 2016.
Two issuers &ndash; BlackRock Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) iShares unit and Vanguard &ndash; remain perched atop the flows leaderboard.
<h3>What To Know</h3>
&ldquo;iShares and Vanguard remain the top-two industry heavyweights and had gathered 73% of net inflows in the first ten months of 2018 according to data on ETF.com, above their 64% market share,&rdquo; said <a href="https://newpublic.cfraresearch.com/">CFRA Research </a>Director of ETF &amp; Mutual Fund Research Todd Rosenbluth in a note out Monday.
Year-to-date, as of Nov. 9, six of the top 10 ETFs in terms of new assets added are iShares funds while the other four are Vanguard funds. Among the 10 worst ETFs for assets lost this year, six are iShares funds, but no Vanguard products are found on that list.
<h3>Why It&#39;s Important</h3>
Along with State Street Corp.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>) SPDR brand, iShares and Vanguard make up the &ldquo;big three&rdquo; of the ETF universe, but other players are gaining momentum. Issuers on the rise include Charles Schwab Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schw#NYSE">SCHW</a>) and JPMorgan Chase &amp; Co.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) JPMorgan Asset Management (JPAM) unit.
&ldquo;At Schwab, the $24 billion of net inflows thus far have positioned the industry&rsquo;s number five provider to match or exceed its $28 billion of new money a year ago,&rdquo; said Rosenbluth. &ldquo;Yet the share of net inflows is more than double that of its total asset base. Like at iShares and Vanguard, bond ETFs have been a major driver.&rdquo;
Fixed income products, such as the Schwab US TIPS ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schp#NYSE">SCHP</a>) and the Schwab Intermediate-Term US Treasury ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schr#NYSE">SCHR</a>), are among the drivers of Schwab&#39;s 2018 ETF asset growth.
JPAM is now the eleventh-largest U.S. ETF sponsor and $11 billion of its $16 billion in ETF assets under management have flowed in this year, according to Rosenbluth.
<h3>What&#39;s Next</h3>
Investors looking to participate in ETF industry growth on a more granular level can consider the ETF Industry Exposure and Financial Services ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tetf#NYSE">TETF</a>). TETF, which tracks the Toroso ETF Industry Index, is home to ETF issuers, market markets, index providers and other public companies with roles in the ETF business. TETF holds shares of BlackRock and Schwab, among other ETF-related firms.
Related Links:
<a href="https://www.benzinga.com/markets/cannabis/18/11/12675718/traders-remain-short-marijuana-etfs-holdings">Traders Still Short Pot ETF&#39;s Components</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/11/12675703/what-makes-this-equal-weight-etf-tick">How This Equal-Weight ETF Thrives</a>

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Inside The Battle For ETF Supremacy

Well, there have been plenty of fixed income trades that have gone right for investors this year, but one that data suggest is really taking shape is the move to Treasury Inflation-Protected Securities, or TIPS.
And those data points extend beyond the substantial inflows accrued by the iShares Barclays TIPS Bond Fund (ETF)(NYSE: <a class="ticker" href="/stock/tip#NYSE">TIP</a>), though it is impressive that TIP has hauled in more than $3.1 billion in new capital this year. The Schwab US TIPS ETF (Schwab Strategic Trust (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>)) has added over $625 million in new assets.
<h3>A Perfect Storm</h3>
This year is something of a perfect storm for TIPS. Inflation is an increasingly important topic for the Federal Reserve, and investors have been pouring billions of dollars into fixed income exchange-traded funds.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/07/8206269/another-milestone-for-bond-etfs">Another Milestone For Bond ETFs</a></bzrelatedlink>
Federal Reserve Bank of San Francisco President John Williams <a href="http://www.wsj.com/articles/feds-williams-future-rate-increases-to-be-gradual-and-thoughtful-1459242900">said earlier this year </a>that inflation could rise faster than the pace at which the central bank is currently ticking. The renewed boom in exchange-traded funds holding Treasury Inflation-Protected Securities (TIPS) confirms investors and money managers are betting that inflation might just be an issue the Fed is not paying enough attention to.
Recent gains in wage growth could be another sign TIPS are one of the places to be in the fixed income space.
	&ldquo;The U.S. inflationary environment should also continue to benefit from another important driver in coming months: The &lsquo;low volatility&rsquo; components of the core Consumer Price Index (CPI). These components, which have persistently trended higher, are key for driving the direction of inflation overall. Their upward trend is unlikely to reverse anytime soon given that these &ldquo;<a href="https://www.blackrockblog.com/2015/11/10/is-us-inflation-too-low/">good inflation</a>&rsquo; categories are indicative of a solid labor and consumption environment,&rdquo; <a href="https://www.blackrockblog.com/2016/08/18/inflation-charts/?utm_source=blog&amp;utm_medium=hero&amp;utm_campaign=hero">according to BlackRock</a>.
The rub for investors with hedging against inflation via ETFs is these funds are not great income generators. For example, the real yield on TIP, the iShares product, is just 0.08 percent, <a href="https://www.ishares.com/us/products/239467/TIP?referrer=tickerSearch">according to issuer data</a>. Real yield is an investment&#39;s returns adjusted for inflation.
Still, there is a strong case for embracing ETFs like TIP and SCHP.
<h3>Further Justification</h3>
&ldquo;But what about relatively low market-based inflation expectations? They are understandable given that low <a href="http://www.investopedia.com/terms/v/velocity.asp">money velocity</a> has been a continual drag on economic growth, but I believe they may not fully reflect the dynamics described in the charts above. We could see them move higher <a href="https://www.blackrockblog.com/2016/08/04/deciphering-the-fed/">if fiscal policy arrives to support and work in conjunction with its monetary policy counterpart.</a> Of course, if we fail to see such a policy transition in the next couple years, stagflation would certainly become a risk,&rdquo; added BlackRock.
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Wall Street Journal

The Bond ETF Trade Investors Have Nailed

This year is something of a perfect storm for Treasury Inflation Protected Securities or TIPS. Inflation is an increasingly important topic for the Federal Reserve, and investors have been pouring billions of dollars into fixed income exchange-traded funds.
Federal Reserve Bank of San Francisco President John Williams <a href="http://www.wsj.com/articles/feds-williams-future-rate-increases-to-be-gradual-and-thoughtful-1459242900">said earlier this year </a>that inflation could rise faster than the pace at which the central bank is currently ticking. The renewed boom in exchange-traded funds holding Treasury Inflation-Protected Securities (TIPS) confirms investors and money managers are betting that inflation might just be an issue the Fed is not paying enough attention to.
<h3>Shipping SCHP And TIPS</h3>
ETFs such as the iShares Barclays TIPS Bond Fund (ETF) (NYSE: <a class="ticker" href="/stock/tip#NYSE">TIP</a>) and the Schwab Strategic Trust(NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>) are among the primary destinations for investors looking to add inflation hedges to their portfolios.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/05/7999406/a-complement-to-boring-bond-etfs">A Complement To Boring Bond ETFs</a></bzrelatedlink>
&ldquo;One of the most important measurements to be aware of regarding TIPS is the break-even inflation rate. This is the difference between the yield of a nominal Treasury bond and the yield on a TIPS of the same maturity. The break-even rate is often viewed as the market&rsquo;s expectation for inflation. As of this writing, the break-even rate on 10-year maturities stood at 1.58 percent, compared with a long-term average of 2.12 percent. In February 2016, the break-even rate went as low as 1.2 percent,&rdquo; said Morningstar <a href="http://news.morningstar.com/articlenet/article.aspx?id=754214">in a recent note</a>.
<h3>A Note...</h3>
The rub for investors with hedging against inflation via ETFs is these funds are not great income generators. For example, the real yield on TIP, the iShares product, is just 0.08 percent, <a href="https://www.ishares.com/us/products/239467/TIP?referrer=tickerSearch">according to issuer data</a>. Real yield is an investment&#39;s returns adjusted for inflation.
The lack of yield is not chasing investors away. Actually, the opposite is true. Year-to-date, TIP has added $3.23 billion in new assets to bring its assets under management tally to just under $18 billion. SCHP has added $239 million in new assets.
SCHP charges just 0.07 percent per year, or $7 for every $10,000 invested, making it the least expensive TIPS ETF on the market. SCHP has a duration, a bond&#39;s sensitivity to interest rate changes, of 7.8 years.
&ldquo;So far this year, the inflation-protected bond ETF category has done well relative to the intermediate-term bond ETF category, returning 3.93 percent versus 3.38 percent for the year to date through April 2016. This outperformance is the result of a variety of factors, including widening break-even rates and falling long-term interest rates,&rdquo; added Morningstar.

Inflation-Busting With ETFs

Members of the Federal Reserve have been talking inflation this week. The Fed sees inflation <a href="http://fortune.com/2016/03/29/yellen-inflation/">at 2 percent</a> before the end of 2017, well above the public&#39;s estimates.
Federal Reserve Bank of San Francisco President John Williams <a href="http://www.wsj.com/articles/feds-williams-future-rate-increases-to-be-gradual-and-thoughtful-1459242900">said earlier this week </a>that inflation could rise faster than the pace at which the central bank is currently ticking. The renewed boom in exchange-traded funds holding Treasury Inflation-Protected Securities (TIPS) confirms investors and money managers are betting that inflation might just be an issue the Fed is not paying enough attention to.
<h3>Let's Here It For Asset-Gathering ETFs</h3>
As has been well-documented, fixed income funds are <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/03/6775169/these-bond-etfs-are-on-fire">the toast</a> of the ETF universe this year, with six such funds among this year&#39;s top 10 asset-gathering ETFs.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/03/6818554/does-tip-have-any-tips-for-inflation-fans">Does TIP Have Any Tips For Inflation Fans?</a></bzrelatedlink>
That group now includes a TIPS, the iShares Barclays TIPS Bond Fund (ETF) (NYSE: <a class="ticker" href="/stock/tip#NYSE">TIP</a>).
<h3>TIP And Peers</h3>
TIP is not the only TIPS packing on the assets, and there could be more asset gains to come for these ETFs as they are outperforming some other bond funds.
&ldquo;In a record quarter investors have piled $2.14 billion into ETFs such as the iShares TIPS Bond ETF. Investors holding TIPS have been well rewarded this year. According to <a href="https://www.google.co.uk/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwiPxdWCz-jLAhUoAHMKHQ41B04QFggcMAA&amp;url=https%3A%2F%2Fwww.markit.com%2FProduct%2FIBoxx&amp;usg=AFQjCNE2un091blCAG7dhme4Omnn6e03Fg&amp;sig2=dFrdT10skBA_JipxyagQnw&amp;bvm=bv.118353311,d.bGQ">Markit&rsquo;s iBoxx indices,</a> TIPS have returned 4.2 percent so far this year, outperforming their more liquid non-inflation linked counterparts, treasuries,&rdquo; said Markit <a href="http://www.markit.com/Commentary/Get/30032016-Credit-TIPS-ETFs-see-record-inflows-as-investors-pile-in">in a research note</a>.
In what could be a sign that investors are becoming increasingly concerned about the specter of inflation, flows to TIPS ETFs have been gaining steam in recent weeks. For example, TIP has added $1.55 billion in new assets this year with nearly $889 million of that arriving into the fund just this month. 
The Schwab Strategic Trust (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>) has added $75.6 million in new assets this year, with $35.3 million of that total arriving this month. SCHP is one of the least expensive TIPS ETFs with an annual expense ratio of just 0.07 percent, or $7 per $10,000 invested. 
The Fed&#39;s reluctance to raise rates &ldquo;has helped commodity prices which have bounced off lows and inflation expectations, as represented by the 5-YearForward Inflation Expectation Rate which has risen 30bps to 1.72 percent since mid-February. Core inflation is also fast approaching the Fed&rsquo;s 2 percent target. The easy monetary conditions were further echoed yesterday in a speech by Fed Chair Janet Yellen which had strong dovish connotations,&rdquo; added Markit.
Image Credit: <a href="https://pixabay.com/en/grand-central-station-clock-time-768669/">Public Domain</a>

Federal Reserve

TIPS Time: Investors Love These Bond ETFs

Less than four years after the debut of its first exchange traded fund, discount broker Charles Schwab (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>) announced Thursday that its suite of 15 equity-based and bond ETFs has reached a combined $10.02 billion in assets under management. That number pertains to the firm's ETF AUM total as of February 8.

Schwab's first ETFs debuted in November 2009 and were immediately made available to the firm's clients on a commission-free basis. Since that time, California-based Schwab has leveraged the combination of commission-free trading and paltry expense ratios to become one of the fastest-growing U.S. ETF sponsors.

With $10.2 billion in ETF assets, Schwab is the tenth-largest U.S. ETF sponsor, just behind PIMCO, which has $10.3 billion in ETF assets. Three Schwab ETFs – the Schwab U.S. Broad Market ETF (NYSE: <a class="ticker" href="/stock/schb#NYSE">SCHB</a>) Schwab U.S. Large-Cap ETF (NYSE: <a class="ticker" href="/stock/schx#NYSE">SCHX</a>) and the Schwab International Equity ETF (NYSE: <a class="ticker" href="/stock/schf#NYSE">SCHF</a>) – combine for about 38 percent of the firm's ETF assets.

SCHX, which competes with the Vanguard Large Cap ETF (NYSE: <a class="ticker" href="/stock/vv#NYSE">VV</a>) among other funds, has $1.2 billion in AUM, <a href="https://www.schwabetfs.com/summary.asp?symbol=SCHX">according to Schwab data</a>. SCHF, which competes with the massive iShares MSCI EAFE Index Fund (NYSE: <a class="ticker" href="/stock/efa#NYSE">EFA</a>), has $1.1 billion in AUM. SCHB is Schwab's largest ETF with $1.6 billion in assets.

Schwab's largest bond ETF is the Schwab U.S. TIPS ETF (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>) with $602.4 million in AUM. All 15 of the firm's ETFs have over $100 million in asssets.

Earlier this month, Schwab unveiled its Schwab ETF OneSource platform, which allows its clients to buy and sell 105 ETFs with $0 online trade commissions. In additional Schwab ETFs, OneSource allows the firm's clients to trade ETFs from State Street Global Advisors, PowerShares, Guggenheim, ETF Securities and United States Commodity Funds commission-free.

For more on Schwab ETFs, click <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/02/3314763/schwab-unveils-massive-additions-to-commission-free-etf-lineu">here</a>.

Intraday Update

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Schwab ETFs Reach $10B in Combined Assets

Shares of discount broker Charles Schwab (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>) are higher by nearly one percent and touched a new 52-week higher earlier today after the company unveiled substantial additions to its commission-free ETF lineup.

Under a new platform known as Schwab ETF OneSource, the California-based brokerage firm will, starting today, allow its clients to buy and sell 105 ETFs with $0 online trade commissions. Schwab has allowed its clients to trade the firm's own ETFs commission-free since the firm first entered the ETF business several years ago.

"Just as Schwab Mutual Fund OneSource changed the landscape for investors and advisors by providing convenient, affordable access to leading mutual funds when Chuck Schwab introduced it twenty years ago, we believe Schwab ETF OneSource will deliver enormous benefit and change the way our clients buy and sell ETFs,” said Schwab CEO Walt Bettinger <a href="http://finance.yahoo.com/news/schwab-launches-schwab-etf-onesource-163000126.html">in a statement</a>.

Noteworthy is the fact that Schwab's commission-free lineup includes over 100 ETFs from a variety of issuers including State Street's (NYSE: <a class="ticker" href="/stock/stt#NYSE">STT</a>) State Street Global Advisors, the second-largest U.S. ETF sponsor. Schwab will also offer ETFs issued by Invesco's (NYSE: <a class="ticker" href="/stock/ivz#NYSE">IVZ</a>) PowerShares, Guggenheim ETF Securities and United States Commodity Funds as part of the Schwab ETF OneSource platform.

Schwab's new commission-free ETF program also looks to be a shot across the bow at rival brokers such as Fidelity, but the Schwab menu could be what impresses investors. For example, Fidelity does allow its clients to trade select iShares ETFs on a commission-free basis, though that <a href="https://www.fidelity.com/etfs/ishares">lineup is fairly limited</a> and none of the funds featured can be considered exotic.

TD Ameritrade (NYSE: <a class="ticker" href="/stock/amtd#NYSE">AMTD</a>) offers a <a href="http://research.tdameritrade.com/grid/public/etfs/commissionfree/commissionfree.asp">broader range of commission-free ETFs</a>, indicating that Schwab and TD Ameritrade could see their rivalry intensify as both aim to capture assets from cost-conscious ETF investors.

Schwab's commission-free <a href="http://www.schwab.com/public/schwab/investing/investment_help/investment_research/etf_research/etfs.html?&amp;path=/Prospect/Research/etfs/overview/oneSourceETFs.asp">ETF lineup includes</a> plenty of standard fare such as the Schwab U.S. Large-Cap Value ETF (NYSE: <a class="ticker" href="/stock/schv#NYSE">SCHV</a>) and the Rydex S&amp;P 500 Equal Weight ETF (NYSE: <a class="ticker" href="/stock/rsp#NYSE">RSP</a>).

However, the Schwab ETF OneSource also features more exotic offerings such as the Guggenheim China Small-Cap ETF (NYSE: <a class="ticker" href="/stock/hao#NYSE">HAO</a>) and the SPDR S&amp;P Emerging Latin America ETF (NYSE: <a class="ticker" href="/stock/gml#NYSE">GML</a>). Schwab OneSource's commission-free bond ETF menu is also among the deepest in the industry, including such funds as the PowerShares Senior Loan Portfolio (NYSE: <a class="ticker" href="/stock/bkln#NYSE">BKLN</a>) and the SPDR Barclays Capital EM Local Bond ETF (NYSE: <a class="ticker" href="/stock/ebnd#NYSE">EBND</a>) along more benign offerings such as the Schwab U.S. TIPS ETF (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>).

While OneSource's sector offerings do not include any of the popular Select Sector SPDRs, the group does feature nine of Guggenheim's equal-weight sector ETFs such as the Guggenheim S&amp;P Equal Weight Technology (NYSE: <a class="ticker" href="/stock/ryt#NYSE">RYT</a>).

OneSource also features a wide array of forex and commodities offerings, something not previously seen on other commission-free platforms. Seven Guggenheim forex ETFs can be traded commission-free on OneSource. Schwab's commission-free commodities offerings now include the U.S. Gasoline Fund (NYSE: <a class="ticker" href="/stock/uga#NYSE">UGA</a>), the ETF Physical Silver Shares (NYSE: <a class="ticker" href="/stock/sivr#NYSE">SIVR</a>) and the ETFS Physical Platinum Shares (NYSE: <a class="ticker" href="/stock/pplt#NYSE">PPLT</a>).

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Short Ideas

Emerging Market ETFs

Commodities

Currency ETFs

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Movers

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Rydex ETF Trust Rydex S&P Equal Weight ETF

Rydex ETF Trust Rydex S&P Equal Weight Technology ETF

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Schwab Unveils Massive Additions to Commission-Free ETF Lineup

Discount broker Charles Schwab (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>), sponsor to some of the least expensive ETFs on the market, is making some of those funds even cheaper. In a filing with the <a href="http://www.sec.gov/Archives/edgar/data/1454889/000119312512398527/d403516d497.htm">Securities and Exchange Commission</a>, Schwab outlined fee cuts a wide array of its ETFs.

Among the Schwab funds with lower expense ratios will be two of the firm's most popular products. The Schwab U.S. Broad Market ETF (NYSE: <a class="ticker" href="/stock/schb#NYSE">SCHB</a>) will see its fee reduced to 0.04 percent per year from 0.06 percent. The annual expense ratio on the Schwab U.S. Large-Cap ETF (NYSE: <a class="ticker" href="/stock/schx#NYSE">SCHX</a>) goes to 0.04 percent from 0.08 percent. SCHB has $1.1 billion in assets under management while <a href="https://www.schwabetfs.com/summary.asp?symbol=SCHX">SCHX had $887.5 million in AUM at the end of August</a>.

The Schwab U.S. Large-Cap Growth ETF (NYSE: <a class="ticker" href="/stock/schg#NYSE">SCHG</a>), Schwab U.S. Large-Cap Value ETF (NYSE: <a class="ticker" href="/stock/schv#NYSE">SCHV</a>). Schwab U.S. REIT ETF (NYSE: <a class="ticker" href="/stock/schh#NYSE">SCHH</a>) and the Schwab U.S. Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/schm#NYSE">SCHM</a>) will see annual fees reduced to 0.07 percent from 0.13 percent.

The Schwab U.S. Small-Cap ETF (NYSE: <a class="ticker" href="/stock/scha#NYSE">SCHA</a>) goes down three basis points to 0.1 percent from 0.13 percent. In the dividend space, Schwab slashed the expense ratio on the Schwab U.S. Dividend Equity ETF (NYSE: <a class="ticker" href="/stock/schd#NYSE">SCHD</a>) to 0.07 percent from 0.17 percent.

Schwab also reduced expenses on several of its international funds, including the Schwab International Equity ETF (NYSE: <a class="ticker" href="/stock/schf#NYSE">SCHF</a>), which is going to 0.09 percent from 0.13 percent. The Schwab International Small-Cap Equity ETF (NYSE: <a class="ticker" href="/stock/schc#NYSE">SCHC</a>) will now have an expense ratio of 0.2 percent down from 0.35 percent.

Interestingly, the Vanguard MSCI Emerging Markets ETF (NYSE: <a class="ticker" href="/stock/vwo#NYSE">VWO</a>) has lost the title of cheapest emerging markets ETF. That honor now goes to the Schwab Emerging Markets Equity ETF (NYSE: <a class="ticker" href="/stock/sche#NYSE">SCHE</a>), which will now charge 0.15 percent compared with 0.25 percent in the past.

Fees on the Schwab U.S. TIPS ETF (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>) were cut in half to 0.07 percent from 0.14 percent. The Schwab Short-Term U.S. Treasury ETF (NYSE: <a class="ticker" href="/stock/scho#NYSE">SCHO</a>) goes to 0.08 percent from 0.12 percent while the Schwab Intermediate-Term U.S. Treasury ETF (NYSE: <a class="ticker" href="/stock/schr#NYSE">SCHR</a>) will now charge 0.1 percent compared with 0.12 percent in the past.

The Schwab U.S. Aggregate Bond ETF (NYSE: <a class="ticker" href="/stock/schz#NYSE">SCHZ</a>) also cut its fees in half to 0.05 percent from 0.1 percent while the Schwab U.S. REIT ETF (NYSE: <a class="ticker" href="/stock/schh#NYSE">SCHH</a>) will now charge 0.07 percent, down from 0.13 percent. 

All that on top of the fact that Schwab offers all of its ETFs on a commission-free basis to its clients.

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Pre-Market Outlook

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Schwab ETF Fees Hit Rock Bottom

The euro rose against the U.S. dollar on Monday as the European Central Bank decided to start buying Spanish and Italian bonds. Presently, the euro is trading around $1.4345 against the greenback, or 0.46% above its previous close. At the same time, the euro is suffering against the Japanese yen, falling 0.39% to stand around ¥111.67.

Lately, the ECB has restricted itself to buying Portuguese and Irish bonds. However, with markets increasingly edgy following the downgrade of the U.S. sovereign debt, <a href="http://www.fxstreet.com/fundamental/market-view/european-crisis/2011/08/08/?utm_source=twitterfeed&amp;utm_medium=twitter">the ECB</a> decided to start buying bonds of the third and fourth largest Eurozone members in order to prevent contagion. The ECB is worried that investors might start to flee riskier assets following a historic downgrade of the U.S. sovereign debt by S&amp;P. Over the weekend, <a href="http://www.bloomberg.com/news/2011-08-06/u-s-credit-rating-cut-by-s-p-for-first-time-on-deficit-reduction-accord.html">S&amp;P</a> downgraded the U.S. credit rating by one notch from AAA to AA+. At the same time, the rating agency decided to reiterate its negative outlook, which means more cuts might follow. For decades, the U.S. Treasury bonds have been the backbone of the world's financial system as the safest investment. With the U.S. credit rating slashed, that might change, which can cause panic among investors, forcing them to sell their riskier assets and seek refuge in precious metals or the Swiss franc. The problems for the Eurozone will start if traders start selling Spanish and Italian bonds, which could push these debt-ridden countries over the edge.

Some analysts are skeptical about the ability of the ECB to prevent the financial meltdown in the Eurozone on its own. For instance, <a href="http://www.ftadviser.com/FTAdviser/Investments/News/article/20110808/9a7e1fce-c191-11e0-b8a0-00144f2af8e8/Saving-the-euro-means-a-fiscal-union-CEBR.jsp?">the Centre for Economics and Business Research</a>, a London-based think tank, argues that the only way for the Eurozone debt crisis to be over is through the creation of a fiscal union. The think tank argues that the fiscal union will provide legitimacy for the Germans to pay Spanish and Italian debt. However, it remains to be seen if the German electorate can stomach such an idea. 

Italy and Spain are bound to be the decisive battles in the war for survival of the Eurozone. Both countries easily dwarf the economies of Portugal, Ireland and Greece combined. Therefore, if the Mediterranean giants are forced to ask for a bailout, it is not clear if the rest of the Eurozone, above all Germany, will be able and willing to master sufficient funds. The pressure on the two countries is growing as both Italy and Spain are plagued not just by high debt but also by low growth prospects. In the June quarter, <a href="http://www.bbc.co.uk/news/business-14419688">both economies continued to expand at sluggish rates</a>. The Italian economy grew 0.3% in months between April and June, up from 0.1% in the first quarter. Spain reported similar results, growing 0.2% in the second quarter, down from 0.3% recorded in the March quarter. 

While the Eurozone and the U.S. debt crises escalate, the Swiss franc continues its climb. The Swissy has suffered some setbacks last week as the Swiss National Bank decided to surprise the markets and reduce its interest rates to near zero levels. However, in spite of the central bank's best efforts, the Swissy soon started to rebound. At around 8:42 am GMT, the U.S. dollar is trading around 0.7603 against the franc, or 0.94% below its previous close. At the same time, the Swissy is dangerously approaching parity with the euro as the European currency lost 0.42% of its value to stand around 1.0910. The Swissy is a traditional safe haven for investors in times of crisis and uncertainty. In light of recent developments, it seems as if the tailwinds that have been pushing the franc to record heights are here to stay for a while longer.

ACTION ITEMS: Bullish: Traders who believe that the recent ECB intervention will restore confidence in Italian and Spanish bonds might want to consider the following trades: 

<ul><li>EUR/USD Exchange Rate ETN (NYSE: <a class="ticker" href="/stock/ero#NYSE">ERO</a>) is a long play on the euro. ERO may rise if the euro appreciates.</li></ul>

<ul><li>ProShares Ultra Euro ETF (NYSE: <a class="ticker" href="/stock/ule#NYSE">ULE</a>) is another long play on the euro. However, ULE should rise more than ERO if the euro appreciates.</li></ul>

<ul><li>CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>). FXF is likely to fall if the Eurozone manages to resolve its debt problems.</li></ul>

Bearish: Traders who believe that it is just a matter of time before either Italy or Spain, or both, are forced to ask for the financial assistance from the EU, which could be the end of the Eurozone as we know it, may consider an alternate positions: 

<ul><li>ETFS Short Euro Long US Dollar ETC (Sterling) ETF (SEUP) is a short play on the euro. SEUP may rise if the euro depreciates.</li></ul>

<ul><li>ProShares UltraShort Euro ETF (NYSE: <a class="ticker" href="/stock/euo#NYSE">EUO</a>) is another short play on the euro. However, EUO should rise more than SEUP if the euro depreciates.</li></ul>

<ul><li>ETFS Short Swiss Franc Long US Dollar ETC (Sterling) ETF (<a class="ticker" href="/stock/schp#">SCHP</a>). SCHP may rise if the Eurozone debt problems continue.</li></ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

Euro Rises against Greenback as ECB Starts Buying Italian and Spanish Bonds 

iPath U.S. Treasury 10-year Bull ETN (NYSE: <a class="ticker" href="/stock/dtyl#NYSE">DTYL</a>) is up nearly 30% year to date. The investment seeks to replicate the performance of the Barclays Capital 10-Year U.S. Treasury Futures Targeted Exposure index, which is designed to increase in response to a decrease in 10-year Treasury note yields and to decrease in response to an increase in 10-year Treasury note yields.

FactorShares 2X: TBond Bull/S&amp;P500 Bear (NYSE: <a class="ticker" href="/stock/fsa#NYSE">FSA</a>) is up more than 24% year to date. The underlying index is a spread index reflecting the difference in daily return between the U.S. equity and interest rate market segments by tracking a long position in the front month E-mini S&amp;P 500 Stock Price index futures and a short position in the front month U.S. Treasury bond futures. 

Direxion Daily 7-10 Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tyd#NYSE">TYD</a>) is up more than 22% since the beginning of the year. The investment seeks daily investment results of 300% of the price performance of the NYSE 7-10 Year U.S. Treasury Bond Index. The fund normally invests 80% of net assets in U.S. government securities and/or financial instruments, but also may hold money market instruments.

iPath U.S. Treasury Long Bond Bull ETN (NYSE: <a class="ticker" href="/stock/dlbl#NYSE">DLBL</a>) is up more than 19% year to date. The investment seeks to replicate the performance of the Barclays Capital Long Bond U.S. Treasury Futures Targeted Exposure index, which is designed to increase in response to a decrease in long-dated Treasury bond yields and to decrease in response to an increase in long-dated Treasury bond yields.

PIMCO 15+ Year U.S. TIPS Index ETF (NYSE: <a class="ticker" href="/stock/ltpz#NYSE">LTPZ</a>) is up more than 17% since the beginning of the year. The investment seeks to provide a total return that closely corresponds to the total return of the BofA Merrill Lynch 15+ Year U.S. Inflation-Linked Treasury Index, an unmanaged index comprised of Treasury Inflation Protected Securities with a maturity of at least 15 years.

ProShares Ultra 7-10 Year Treasury (NYSE: <a class="ticker" href="/stock/ust#NYSE">UST</a>) is up nearly 16% since the beginning of the year. The investment seeks daily investment results, before fees and expenses, and interest income earned on cash and financial instruments, that correspond to twice (200%) the daily performance of the Barclays Capital 7-10 Year U.S. Treasury Bond Index. It also invests in money market instruments.

PIMCO Build America Bond Strategy ETF (NYSE: <a class="ticker" href="/stock/babz#NYSE">BABZ</a>) is up more than 15% year to date. The fund invests in taxable municipal securities eligible to participate in the Build America Bonds program created under the American Recovery and Reinvestment Act of 2009 and other legislation. Top holdings include securities related to New York City Municipal Water, Los Angeles Department of Water &amp; Power and Metropolitan Washington DC Airports Authority. 

SPDR Nuveen Barclays Cap Build America Bond (NYSE: <a class="ticker" href="/stock/babs#NYSE">BABS</a>) is up more than 14% since the beginning of the year. The fund seeks to track the performance of the Barclays Capital Build America Bond Index, which represents securities that are taxable, dollar denominated, and issued by a U.S. state or territory. Top holdings include securities related to Clark County Nevada Airport and Bay Area Toll Authority. 

PowerShares Build America Bond (NYSE: <a class="ticker" href="/stock/bab#NYSE">BAB</a>) is up more than 13% year to date. The fund invests in taxable municipal securities eligible to participate in the Build America Bonds program created under the American Recovery and Reinvestment Act of 2009 and other legislation. Top holdings include securities related to Sioux Falls South Dakota, Lexington-Fayette Urban County and Chicago's O'Hare International Airport.

SPDR Nuveen Barclays Capital California Municipal Bond (NYSE: <a class="ticker" href="/stock/cxa#NYSE">CXA</a>) is up more than 11% year to date. The fund uses a passive management strategy designed to track the price and yield performance of the Barclays Capital Managed Money Municipal California Index. It also invests in futures, options, swap contracts and other derivatives, cash and cash equivalents or money market instruments. Top holdings include securities related to Los Angeles Unified School District. 

PIMCO Broad U.S. TIPS Index ETF (NYSE: <a class="ticker" href="/stock/tipz#NYSE">TIPZ</a>) is up about 11% since the beginning of the year. The investment seeks to provide a total return that closely corresponds to the total return of the BofA Merrill Lynch U.S. Inflation-Linked Treasury Index. It may also invest in futures, options, swap contracts and other derivatives, cash and investment grade, liquid short-term instruments. 

Vanguard Long-Term Bond Index ETF (NYSE: <a class="ticker" href="/stock/blv#NYSE">BLV</a>) is up nearly 11% year to date. The fund employs a passive investment approach designed to track the performance of the Barclays Capital U.S. Long Government/Credit Float Adjusted Index. It maintains a dollar-weighted average maturity consistent with that of the index. Top holdings include U.S. Treasury bonds.

Schwab U.S. TIPS ETF (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>) is up nearly 11% year to date. The underlying index includes all publicly-issued U.S. TIPS that have at least one year remaining to maturity, are rated investment grade and have $250 million or more of outstanding face value. The TIPS in the index must be denominated in U.S. dollars and must be fixed-rate and non-convertible. 

iShares S&amp;P California AMT-Free Municipal Bond (NYSE: <a class="ticker" href="/stock/cmf#NYSE">CMF</a>) is up more than 10% year to date. The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the underlying index, which measures the performance of the investment grade segment of the California municipal bond market. Top holdings include securities related to San Diego Unified School District and Los Angeles Department of Airports.

SPDR Barclays Capital Long Corporate Term Bond (NYSE: <a class="ticker" href="/stock/lwc#NYSE">LWC</a>) is more than 10% higher year to date. The underlying index measures the performance of the long-term sector of the U.S. investment bond market, which includes investment grade corporate debt and sovereign, supranational, local authority and non-U.S. agency bonds. Top holdings include AT&amp;T (NYSE: <a class="ticker" href="/stock/t#NYSE">T</a>) and Comcast (NASDAQ: <a class="ticker" href="/stock/cmcsa#NASDAQ">CMCSA</a>) bonds.

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Direxion Daily 7-10 Year Treasury Bull 3X Shares

Fifteen Bond ETFs Trading Near 52-Week Highs

Press Releases

Schwab Asset Management Announces ETF Share Splits

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SCYB

글로벌 투자 대기업 블랙록은 물가연동채권에 대한 &#8216;비중 확대&#8217;를 발표하며 &#8216;지속적인 인플레이션 압력&#8217;과 미국 정부 재정의 지속가능성에 대한 우려 증가로 인한 위험을 완화하기 위한 전략적 전환을 예고했다.
무슨 일 있었나: 이러한 움직임은 변화하는 &#8216;거대 세력&#8217;과 장기 자산 배분에 대한 도전적인 전망으로 특징지어지는 복잡한 경제 환경을 헤쳐나가는 과정에서 나온 것이다.
블랙록이 물가연동채권으로 전환한 주요 동인은 미국 재정의 지속가능성에 대한 압박이 가중되고 있다는 점이다.
특히 무디스가 최근 미국 정부의 신용등급을 최고 수준 이하로 <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns" target="_blank" rel="noopener">강등하면서</a>, 금리 상승으로 부채 상환 비용이 증가함에 따라 지속적인 미국 예산 적자에 대한 블랙록의 오랜 우려를 강화한 점을 언급했다.
또한 미국 부채의 지속가능성이 해외 투자자들의 대규모의 안정적인 자금에 의존하고 있다는 점도 강조했다.
"이번 신용등급 강등은 우리가 오랫동안 지적해 온 미국의 재정 지속 가능성 문제, 특히 금리 상승으로 부채 상환 비용이 증가하고 있는 상황에서 미국의 지속적인 재정 적자를 더욱 강화한다. 이러한 역학 관계로 인해 해외 채권 보유자의 신뢰가 떨어지면 만기 프리미엄이 상승하여 채권 수익률과 부채 상환 비용이 더욱 상승할 수 있다.&#8221;
따라서 블랙록의 전략적 출발점은 이제 미국 국채의 기간 프리미엄 상승과 지속적인 인플레이션에 대한 기대를 반영하고 있다.
"그렇기 때문에 미국 국채의 기간 프리미엄 상승과 지속적인 인플레이션 압력에 대한 기대도 우리의 출발점에 포함된다. 우리는 물가연동채권에 비중확대, 글로벌 투자등급 크레딧에 중립 포지션을 취하고 있다.&#8221;
이러한 증권은 소비자물가지수(CPI) 변동에 따라 원금 가치를 조정하여 인플레이션으로부터 투자자를 보호하고 투자의 실질 가치를 보존하도록 설계되었다.
왜 중요한가: 이러한 전략에 노출되기를 원하는 투자자를 위해 몇 가지 물가연동채권 ETF를 소개한다.
<figure class="wp-block-table is-style-stripes">
<table class="has-fixed-layout">
<tbody>
<tr>
<td>인플레이션 연동 채권 ETF</td>
<td>연초 대비 성과</td>
<td>1년 성과</td>
</tr>
<tr>
<td>Vanguard 단기 인플레이션 보호 증권 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTIP#NASDAQ">VTIP</a>)</td>
<td>3.03%</td>
<td>3.68%</td>
</tr>
<tr>
<td>iShares TIPS 채권 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>)</td>
<td>2.04%</td>
<td>2.21%</td>
</tr>
<tr>
<td>Schwab 미국 TIPS ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHP#NYSE">SCHP</a>)</td>
<td>2.44%</td>
<td>2.05%</td>
</tr>
<tr>
<td>iShares 0-5년 TIPS 채권 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STIP#NYSE">STIP</a>)</td>
<td>1.79%</td>
<td>3.15%</td>
</tr>
<tr>
<td>FlexShares iBoxx 3년 목표 만기 TIPS 인덱스 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDTT#NYSE">TDTT</a>)</td>
<td>1.99%</td>
<td>2.29%</td>
</tr>
<tr>
<td>SPDR 블룸버그 1-10년 TIPS ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIPX#NYSE">TIPX</a>)</td>
<td>2.49%</td>
<td>2.87%</td>
</tr>
<tr>
<td>SPDR 포트폴리오 TIPS ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPIP#NYSE">SPIP</a>)</td>
<td>1.85%</td>
<td>1.22%</td>
</tr>
<tr>
<td>FlexShares iBoxx 5년 목표 만기 TIPS 인덱스 펀드 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDTF#NYSE">TDTF</a>)</td>
<td>2.41%</td>
<td>2.10%</td>
</tr>
<tr>
<td>PIMCO 15년 이상 미국 TIPS 인덱스 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTPZ#NYSE">LTPZ</a>)</td>
<td>-0.90%</td>
<td>-4.69%</td>
</tr>
<tr>
<td>PIMCO 1-5년 미국 TIPS 인덱스 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STPZ#NYSE">STPZ</a>)</td>
<td>2.23%</td>
<td>3.88%</td>
</tr>
</tbody>
</table>
</figure>
블랙록은 "경제 변화는 장기 포트폴리오 구축을 더욱 어렵게 만든다"고 결론을 내리고, 포트폴리오 민첩성을 보장하기 위해 다른 잠재적 결과를 공식적으로 추적하면서 전략적 관점을 위한 출발점 시나리오를 활용하는 새로운 접근법을 강조했다.
미국 자산은 여전히 포트폴리오의 중심이지만, 인플레이션 연계 채권으로의 전환은 신흥국 재정 및 인플레이션 역풍에 대한 선제적 대응을 강조한다.
가격 움직임: S&amp;P 500 지수와 나스닥 100 지수를 각각 추종하는 SPDR S&amp;P 500 ETF 신탁(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)과 인베스코 QQQ 신탁 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)는 월요일에 상승했다. <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noopener">벤징가 프로</a> 데이터에 따르면 SPY는 0.11% 상승한 594.85달러를 기록했고, QQQ는 0.096% 상승한 522.01달러를 기록했다.
화요일에는 S&amp;P 500, 다우존스, 나스닥 100 지수의 선물이 소폭 하락세를 보이고 있다.
면책 조항: 이 콘텐츠는 부분적으로 AI 도구의 도움을 받아 생성되었으며, Benzinga 편집자가 검토하고 게시했습니다.
사진 출처: 타다 이미지(Tada Images) / 셔터스톡(Shutterstock.com)
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