Vanguard Short-Term Corporate Bond ETF (NASDAQ: VCSH)

에 대한 최신 뉴스 Vanguard Short-Term Corporate Bond ETF (NASDAQ:VCSH)

Vanguard Short-Term Corporate Bond ETF

The fund employs an indexing investment approach designed to track the performance of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years. Under normal circumstances, at least 80% of the funds assets will be invested in bonds included in the index.

Vanguard Short Term Corporate Bond ETF

coporate-ai

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Long Ideas

Bonds

Broad U.S. Equity ETFs

Specialty ETFs

Markets

Analyst Ratings

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IGSB

SPBO

VCSH

채권 투자자들은 현대 역사상 가장 긴 수익률 곡선 역전을 견딘 후 마침내 다소의 안도를 얻고 있다.

&#39;비용 대비 최고의 효과&#39;: 전문가는 1-5년 크레딧 곡선에서 가장 강력한 가치를 본다&#39;

treasury bond shutter

Government

Politics

BNDX

GOVT

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iShares Trust Barclays 20+ Year Treasury Bond Fund

VCIT

안정성을 위해 채권 및 채권 ETF를 찾는 투자자들은 도널드 트럼프 대통령 당선인의 관세 접근 방식으로 인해 수익률 상승 압박을 가할 수 있으므로 변동성이 높아질 수 있다.

연준의 금리 인하와 트럼프의 재정 정책이 충돌하면서 채권 ETF가 하락

Fixed income investors are finally seeing some relief after enduring the longest <a href="https://www.benzinga.com/topic/yield-curve">yield curve inversion</a> in modern history. 
<h2 class="wp-block-heading">Yield Curve Steepening: A Shift After Years Of Inversion</h2>
Since July 2022, short-term yields sat stubbornly above long-term yields, creating a highly unusual environment. But as of December 2024, the yield curve has returned to positive territory, though it remains far from its historical norm. 
The 2-year/10-year spread now sits at just +0.33%, well below the 1% average.
Read Also: <a href="https://www.benzinga.com/government/regulations/25/01/43059174/buy-long-duration-bonds-says-bank-of-america-strategist">&#8216;Buy Long Duration Bonds,&#8217; Says Bank Of America Strategist: 4 ETFs To Watch As Trump&#8217;s Deficit Fight Unfolds</a>
<h2 class="wp-block-heading">Where The Best Value Lies In Corporate Bonds</h2>
According to Lawrence Gillum, Chief Fixed Income Strategist at LPL Financial, the Treasury curve may continue to steepen as:
<ul>
<li>economic data beats expectations, </li>
<li>inflation remains sticky</li>
<li>Treasury issuance ramps up to cover widening budget deficits. </li>
</ul>
However, despite this shift, Gillum believes the best &#8220;bang for your buck&#8221; still lies in the 1–5-year segment of the corporate credit curve, with the 5–7-year range also offering incremental value.
<h2 class="wp-block-heading">ETFs To Capitalize On The Opportunity</h2>
For investors looking to position themselves accordingly, ETFs like the iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LQD#NYSE">LQD</a>) and the SPDR Portfolio Corporate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPBO#NYSE">SPBO</a>) provide broad exposure to investment-grade corporate credit. Meanwhile, those wanting to stay on the shorter end can consider the Vanguard Short-Term Corporate Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCSH#NASDAQ">VCSH</a>) or the iShares 1-5 Year Investment Grade Corporate Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGSB#NASDAQ">IGSB</a>), both of which align with Gillum's recommended maturity range.
The takeaway? While longer-term yields are climbing, short- to intermediate-term corporate bonds currently present a compelling risk-reward tradeoff. Some investors are looking to lock in yields while the opportunity remains.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43101541/exclusive-powell-co-will-wait-wisdomtree-expert-says-on-why-investors-need-smarter-bond-strategy" target="_blank" rel="noreferrer noopener">EXCLUSIVE: &#8216;Powell &amp; Co. Will Wait&#8217; — WisdomTree Expert On Why Investors Need Smarter Bond Strategy</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

'Best Bang For Your Buck': Expert Sees Strongest Value In 1–5 Year Credit Curve

Investors looking to bonds and bond ETFs for stability may face heightened volatility due to President-elect Donald Trump's approach to tariffs could put <a href="https://www.benzinga.com/topic/treasury-yields">upward pressure on yields</a>.
What Happened: Bond yields continue to climb after the Fed's 25-basis-point rate cut on Thursday. With the 10-year Treasury yield reached 4.34% in response to market speculation around Trump's fiscal agenda.
This shift complicates the Federal Reserve's efforts to ease borrowing costs, a concern for individual bondholders and bond ETFs investors. The backdrop of tax cuts and anticipated tariffs could limit the Fed's <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41814589/why-trumps-boost-to-treasury-yields-inflation-expectations-may-weaken-feds-efforts-">ability to cut rates deeply</a>.
Also Read: <a href="https://www.benzinga.com/24/11/41886697/two-ideas-famed-stock-market-forecasters-agree-on-for-2025">Why Trump&#8217;s Win Has 2 Market Experts Betting On Small Caps, Financials</a>
Since mid-September, Treasury yields have surged by over 70 basis points, putting additional pressure on bond prices and impacting major bond ETFs. BofA Global Research has adjusted its outlook, with Treasury yields now projected in the 4.25%-4.75% range, Reuters reports. This rising yield environment creates challenges for bonds, as higher yields correspond to declining bond prices, which could erode returns for investors in bond ETFs.
Why It Matters: According to Reuters, the Committee for a Responsible Federal Budget estimates that Trump's proposed fiscal policies will add approximately $7.75 trillion to the national debt in a decade. Economists, banks and analysts have all warned that the <a href="https://www.benzinga.com/personal-finance/24/09/40961812/economists-warn-trumps-plans-for-tax-cuts-tariffs-and-deportation-could-trigger-skyrocketing-inf">plans will worsen inflation</a> and make debt unsustainable.
Bond ETFs, which offer exposure across various segments of the bond market, are likely to feel the impact of these fiscal pressures as bond yields trend higher.
Increased yields may lead to more appealing income for bond ETF investors but could also heighten risks related to price declines as yields continue to rise.
On Monday, 10 prominent bond ETFs were mainly trading lower:
<ul>
<li>Vanguard Total Bond Market ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BND#NASDAQ">BND</a>): $72.93, down 0.22%.</li>
<li>iShares Core U.S. Aggregate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGG#NYSE">AGG</a>): $98.26, 0.25% lower.</li>
<li>SPDR Portfolio Aggregate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPAB#NYSE">SPAB</a>): $25.34, down 0.3%.</li>
<li>iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LQD#NYSE">LQD</a>): $109.60, 0.23% lower.</li>
<li>Vanguard Short-Term Corporate Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCSH#NASDAQ">VCSH</a>): $78.30, down 0.09%.</li>
<li>iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>): $91.93, down 0.6%.</li>
<li>Vanguard Intermediate-Term Corporate Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCIT#NASDAQ">VCIT</a>): $81.47, 0.22% lower.</li>
<li>iShares U.S. Treasury Bond ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/GOVT#BATS">GOVT</a>): $22.72, down 0.24%.</li>
<li>SPDR Bloomberg High Yield Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNK#NYSE">JNK</a>): $97.02, down 0.05%.</li>
<li>Vanguard Total International Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNDX#NASDAQ">BNDX</a>): $49.94, up 0.09%</li>
</ul>
With rising bond yields and fiscal expansion under Trump, bond ETFs could continue to see volatility. 
Bond investors may need to weigh the attraction of higher yields against potential declines in bond prices, particularly in high-yield and long-term Treasury segments, where market shifts are expected to be most pronounced.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/11/41885777/how-trumps-tax-cuts-tariffs-animal-spirits-could-shape-sp-500-earnings">How Trump&#8217;s Tax Cuts, Tariffs, &#8216;Animal Spirits&#8217; Could Shape S&amp;P 500 Earnings</a></li>
</ul>
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Bond ETFs Slide As Fed Cuts Clash With Trump's Fiscal Agenda

Several of this year&#39;s top asset-gathering fixed income exchange traded funds are of the low or ultra-low duration varieties, indicating investors&#39; preference for bonds that are less sensitive to rising interest rates.
A new ETF courtesy of IndexIQ, a unit of New York Life Investments Company, seizes upon that theme.
<h3>What Happened</h3>
The IQ Short Duration Enhanced Core Bond U.S ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sdag#NYSE">SDAG</a>) debuted Tuesday as <a href="https://www.benzinga.com/trading-ideas/long-ideas/18/12/12849931/indexiq-brings-a-new-look-to-international-equities">the second new ETF</a> introduced by IndexIQ over the past week. SDAG follows the IQ Short Duration Enhanced Core Bond U.S. Index, a benchmark comprised of other ETFs.
The fund is IndexIQ&#39;s first short duration ETF and its sixth fixed income ETF. IndexIQ launched its first bond ETF over two and a half years ago.
<h3>Why It&#39;s Important</h3>
The ETFs comprising SDAG&#39;s lineup include short-term Treasury funds, floating rate note products and short-term corporate bond ETFs. SDAG&#39;s largest holding is the Vanguard Short-Term Corporate Bond ETF (NASDAQ:VSCH). The $20.6 billion VCSH, which has an average duration of 2.7 years, commands 34.49 percent of SDAG&#39;s weight.
The Schwab Short-Term U.S. Treasury ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/scho#NYSE">SCHO</a>) is SDAG&#39;s second-largest holding at a weight of almost 28 percent. The $3.8 billion SCHO has an effective duration of 1.93 years.
&quot;After several years of abnormally low rates, we once again find ourselves in a rising rate environment, a situation where investors often move to the shorter end of the yield curve,&rdquo; said Index IQ Chief Investment Officer Salvatore Bruno <a href="https://www.nylinvestments.com/IQetfs/etfs/IQ-Short-Duration-Enhanced-Core-Bond-U.S.-ETF">in a statement.</a> &ldquo; By combining short duration exposure with a momentum-driven approach, investors now have a powerful tool for gaining exposure to this key area of the fixed income market while also adding the potential for outperformance.&rdquo;
<h3>What&#39;s Next</h3>
SDAG&#39;s holdings are dynamically allocated based on 45- and 90-day momentum signals. The new ETF can include short-term high-yield debt. Two of SDAG&#39;s eight holdings are short-duration junk bond funds. Those ETFs combine for nearly a quarter of SDAG&#39;s weight.
SDAG charges 0.36 percent per year, or $36 on a $10,000 investment.
Related Links:
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<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/12/12849932/rethinking-global-fixed-income-strategies">A New Global Bond ETF</a>

New ETFs

SCHO

IQ Short Duration Enhanced Core Bond U.S. ETF

SDAG

A New ETF Uses Other ETFs To Manage Rate Risk

Vanguard is the second-largest U.S. issuer of exchange traded funds by assets, but its stable of ETFs is small compared to issuers of a similar size. While many large ETF issuers launch several new products per year or have launches numbering in the double digits, Vanguard eschews that strategy.
When Vanguard launches new ETFs, they are usually successful and often attain that success in short order. Time will tell if that&#39;s the case for the Vanguard Total Corporate Bond ETF (NASDAQ: VTC), which debuted Thursday as Vanguard&#39;s first ETF of 2017.
The Vanguard Total Corporate Bond ETF is the first new ETF introduced by Pennsylvania-based Vanguard since the firm launched the Vanguard International Dividend Appreciation ETF (NASDAQ: <a class="ticker" href="/stock/vigi#NASDAQ">VIGI</a>) and the Vanguard International High Dividend Yield ETF (NASDAQ: <a class="ticker" href="/stock/vymi#NASDAQ">VYMI</a>) a year-and-a-half ago.
<h3>
	Good Timing</h3>
Some new ETFs benefit from good timing, and that could be the case with the Vanguard Total Corporate Bond ETF. Investors are flocking to investment-grade corporate bond ETFs this year, with two such funds being among this year&#39;s top 10 asset-gathering ETFs. That duo includes the Vanguard Intermediate-Term Corporate Bond ETF (NASDAQ: <a class="ticker" href="/stock/vcit#NASDAQ">VCIT</a>).
VTC, the new Vanguard ETF, tracks the Bloomberg Barclays U.S. Corporate Bond Index. The new ETF charges 0.07 percent per year, or $7 on a $10,000 investment, making it less expensive than 91 percent of rival funds, <a href="https://personal.vanguard.com/us/funds/snapshot?FundId=0985&amp;FundIntExt=INT#tab=0">according to issuer data</a>.&nbsp;
VCT is the 17th fixed income ETF in Vanguard&#39;s lineup. In addition to the new ETF and the aforementioned VCIT, Vanguard&#39;s corporate bond ETFs include the Vanguard Short-Term Corporate Bond ETF (NASDAQ: <a class="ticker" href="/stock/vcsh#NASDAQ">VCSH</a>) and the Vanguard Long-Term Corporate Bond ETF (NASDAQ: <a class="ticker" href="/stock/vclt#NASDAQ">VCLT</a>).
<h3>
	Broad Exposure</h3>
As is usually the case with Vanguard ETFs, VCT features a massive roster. By using an ETF-of-ETFs structure that equates to VCT holding the other Vanguard corporate bond ETFs mentioned here, the new fund has one of the largest number of components among any corporate bond fund.
&ldquo; The ETF-of-ETFs structure enables the fund to immediately access more than 5,500 U.S. corporate bonds by taking advantage of the existing exposure and scale offered by the underlying ETFs,&rdquo; <a href="https://pressroom.vanguard.com/news/Press-Release-Vanguard-Launches-Total-Corporate-Bond-Fund-110917.html">according to a statement</a> issued by Vanguard. &ldquo;This approach achieves near complete replication of the benchmark at the fund&rsquo;s inception as well as tighter bid/ask spreads and lower operating expenses than investing directly in the benchmark&rsquo;s constituents.&rdquo;&nbsp;
With over 5,500 holdings, VCT&#39;s roster is roughly triple the size of the largest investment-grade corporate bond ETF.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/11/10751657/getting-refined-with-china-etfs">Sophisticated China ETFs</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/11/10751609/merry-christmas-a-marijuana-etf-is-on-the-way">A Marijuana ETF Is Coming</a>

VCLT

VIGI

VYMI

Vanguard's First New ETF Of 2017 Is A Corporate Bond Fund

One of the primary reasons investors have embraced exchange-traded funds over the years is lower fees relative to actively managed equivalents. ETF issuers continue rewarding that faith with a &ldquo;race to the bottom&rdquo; outlook on ETF expenses.
Predictably, Vanguard plays a big role in the trend of lower ETF fees, and after a recent spate of fee cuts from rival issuers, the Pennsylvania-based fund giant is again making its low fee presence felt.
On Thursday, Vanguard, the second-largest U.S. ETF issuer, announced fee reductions on 35 mutual fund classes, including 11 ETFs. But before we get to that good news, there is some bad news ... sort of.
<h3>Fee Raise</h3>
Vanguard slightly raised the annual expense ratio on the Vanguard Health Care ETF (NYSE: <a class="ticker" href="/stock/vht#NYSE">VHT</a>) to 0.1 percent from 0.09 percent. Fidelity, one of Vanguard&#39;s chief competitors, offers the ETF industry&#39;s<a href="http://www.benzinga.com/trading-ideas/long-ideas/16/10/8556957/fidelity-has-a-say-in-etf-fee-tussle"> least expensive lineup</a> of sector ETFs.
<h3>Fee Cuts</h3>
The 11 ETF fee cuts unveiled by Vanguard include a significant portion of the issuer&#39;s fixed income lineup. All of the following saw annual fees reduced to 0.07 percent from 0.1 percent:
<ul>
<li>Vanguard Extended Duration Treasury ETF (NYSE: <a class="ticker" href="/stock/edv#NYSE">EDV</a>).</li>
<li>Vanguard Intermediate-Term Bond ETF (NYSE: <a class="ticker" href="/stock/biv#NYSE">BIV</a>).</li>
<li> Vanguard Intmdte Tm Govt Bd ETF (NASDAQ: <a class="ticker" href="/stock/vgit#NASDAQ">VGIT</a>).</li>
<li>Vanguard Long Term Corporate Bond ETF (NASDAQ: <a class="ticker" href="/stock/vclt#NASDAQ">VCLT</a>).</li>
<li>Vanguard Lg Term Govt Bd ETF (NASDAQ: <a class="ticker" href="/stock/vglt#NASDAQ">VGLT</a>).</li>
<li>Vanguard Mortgage Bkd Sects ETF (NASDAQ: <a class="ticker" href="/stock/vmbs#NASDAQ">VMBS</a>).</li>
<lI>and the Vanguard Short Term Corporate Bond ETF (NASDAQ: <a class="ticker" href="/stock/vcsh#NASDAQ">VCSH</a>).</li>
</ul>
Three of Vanguard&#39;s mega-cap equity ETFs now sport annual expense ratios <a href="https://pressroom.vanguard.com/nonindexed/Fact-sheet-first-wave-expense-ratio-changes-122216.pdf">of 0.07 percent</a>, down from 0.09 percent. Those ETFs are the Vanguard Mega Cap ETF (NYSE: <a class="ticker" href="/stock/mgc#NYSE">MGC</a>), Vanguard Mega Cap 300 Growth Index ETF (NYSE: <a class="ticker" href="/stock/mgk#NYSE">MGK</a>) and the Vanguard Mega Cap Value Index ETF (NYSE: <a class="ticker" href="/stock/mgv#NYSE">MGV</a>).
<h3>Fee Wars</h3>
&ldquo;In 2004, when Vanguard managed $6 billion in ETF assets, the average expense ratio for Vanguard&rsquo;s ETFs was 0.22 percent. Today, Vanguard manages $593 billion in U.S. ETF assets. The average expense ratio of the firm&rsquo;s ETFs is 0.12 percent, or less than one-third that of the 0.53 percent industry average,&rdquo; said Vanguard<a href="https://pressroom.vanguard.com/news/Press-release-VG-announces-first-wave-expense-ratio-changes-12-22-16.html"> in a statement</a>.
Vanguard&#39;s latest fee cuts answer <a href="https://www.benzinga.com/trading-ideas/long-ideas/16/12/8824318/blackrock-fee-cuts-extend-into-smart-beta-realm">two such moves </a>this year, including one this month, by rival BlackRock, Inc. (NYSE: <a class="ticker" href="/stock/blk#NYSE">BLK</a>) and one fee reduction announcement by Charles Schwab Corp (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>).

News

Sector ETFs

SCHW

VGIT

VGLT

VMBS

Vanguard Has Its Say In ETF Fee War

Many investment pros swear by the concept of diversifying their investments, not only across various sectors but asset classes &mdash; especially corporate bonds.
Here is how investors can invest directly in corporate bonds.
As a reminder, a corporate bond is as its name implies: a bond issued by a corporation. In essence, the corporation borrows money from the investor to fund part of its operation or enter a new market in exchange for repayment of the principle (also known as the face value) plus a certain amount of interest, which varies from company to company and is typically paid to the investor every six months.
Other types of bonds available for investors are issued by government entities ranging from the federal to municipal lender.
Investors who want to purchase corporate bonds can do so quite easily if the bond trades on the over-the-counter (OTC) market. This can be done through a standard brokerage account, which many investors already use for their investments in stocks.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/08/8371533/shorts-are-running-to-cover-some-of-this-etfs-holdings">Shorts Are Running To Cover Some Of This ETF's Holdings</a></bzrelatedlink>
Bond prices are quoted as percentage of its face value with $100 being the benchmark. For example, a bond trading at 90 implies it could be purchased for 90 percent of its face value &mdash; a $10,000 bond could be bought by an investor for $9,000.
Regardless of the trading price of the bond, the interest payment stays the same.
Bottom line, corporate bonds offer an attractive alternative to investing in stocks given the consistent interest payments. However, there are many stocks that offer investors a similar percentage payout through the form of dividends. As is always the case, novice investors should seek out the expertise of a trusted financial adviser before making any commitments.
<h3>A Few ETFs In The Space</h3>
<ul>
<li>iShares Barclays 1-3 Year Credit Bond Fd (NYSE: <a class="ticker" href="/stock/csj#NYSE">CSJ</a>).</li>
<li>iShares IBoxx $ Invest Grade Corp Bd Fd (NYSE: <a class="ticker" href="/stock/lqd#NYSE">LQD</a>).</li>
<li>Vanguard Short Term Corporate Bond ETF (NASDAQ: <a class="ticker" href="/stock/vcsh#NASDAQ">VCSH</a>).</li>
<li>Vanguard Intermediate Tm Cpte Bd ETF(NASDAQ: <a class="ticker" href="/stock/vcit#NASDAQ">VCIT</a>).</li>
</ul>
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Education

Personal Finance

General

Can Individual Investors Buy Corporate Bonds?

Natixis&rsquo; Patrick Artus broke down the bond bubble&rsquo;s effect on economic conditions and what it could do in the future. &ldquo;A bond bubble (abnormally low long-term interest rates) has become the main monetary policy tool in OECD countries,&rdquo; said the analyst.

	Proponents of the central bank policy often point out the &ldquo;effects of very low interest rates on the economy&rdquo; such as:
<ul>
<li>
		Boosting credit</li>
<li>
		Increased corporate and housing investment</li>
<li>
		Lowering interest rates paid by borrowers</li>
</ul>

	The analyst reaffirmed these claims made by central banksmen, but warned of a dreadful trade off. &ldquo;One must remember that a bubble is always positive, as long as it does not burst&hellip; the problem is that it will burst and there will then be a financial crisis,&rdquo; said Artus.

	The Natixis analyst cited two reasons why the central banks use of a bond bubble was:

	1.) Either the bond bubble will explode in the future; leading to a financial crisis

	2.) Or central banks will be forced to forever conduct highly expansionary monetary policies to prevent the bubble from bursting

Eurozone

Natixis On Bonds: 'No One Denies A Bond Bubble Boosts The Economy - As Long As It Doesn't Burst'

Interest rates have stabilized significantly this year from their tremendous rise in 2013.

	However, many investors believe that yields will ultimately move much higher. 

	The combination of the Federal Reserve tapering their asset purchase programs along with an eventual tightening of the Fed funds rate may significantly alter the landscape for fixed-income investors. 

	Fortunately, there are a variety of strategies that can be implemented to hedge exposure or even profit from the effects of rising interest rates.

	One potential move to consider is shortening the average duration of your bond portfolio in order to reduce price sensitivity to interest rates. An ETF such as the Vanguard Short-Term Grade Corporate Bond Fund (NASDAQ: <a class="ticker" href="/stock/vcsh#NASDAQ">VCSH</a>) holds a basket of investment grade debt of highly-rated companies with durations between one to three years.

	This fund will not experience the same level of price volatility that an intermediate-duration fund such as the iShares Investment Grade Corporate Bond Fund (NYSE: <a class="ticker" href="/stock/lqd#NYSE">LQD</a>) will if interest rates significantly rise. The trade-off is that VCSH only pays a yield of 1.39 percent, while LQD currently yields 3.26 percent.

	See also: <a href="http://www.benzinga.com/etfs/sector-etfs/14/04/4441426/momentum-etf-seeks-high-beta-stocks">Momentum ETF Seeks High Beta Stocks</a>

	Another strategy to consider is investing in an ETF that has built-in interest rate hedges such as the ProShares Investment Grade - Interest Rate Hedged ETF (BATS: IGHG). This fund is designed to be long corporate bonds and short treasury notes of similar durations in order to remove or dampen the effect of interest rate fluctuations on the portfolio.

	In theory, the construction of this index should help smooth out volatility when compared to a traditional basket of bonds. However, fluctuations in the yield curve may still lead to some spillover that can’t be perfectly addressed in every situation. 

	The final and most aggressive strategy is to consider a rising rate ETF such as the ProShares Short 20+ year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/tbf#NYSE">TBF</a>). This fund is designed to provide -1x price correlation to a basket of long-duration treasury bonds on a daily basis. Think of it as the inverse of the popular iShares 20+ Year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/tlt#NYSE">TLT</a>). 

	Rising rate ETFs have become more popular in recent years as investors have used them to hedge off their existing fixed-income holdings or as a pure play on the direction of Treasury yields.

	The advantage is that you get direct correlation and targeting to a specific area of the yield curve depending on the ETF that you select. There are a variety of options from both ProShares and DirexionShares that may fit your portfolio characteristics or risk tolerance. 

	With these tools, investors can ultimately be prepared to weather any storm that interest rates throw their way.

3 Ways ETF Investors Can Profit From Rising Rates

채권 투자자들은 현대 역사상 가장 긴 <a href="https://www.benzinga.com/topic/yield-curve">수익률 곡선 역전</a>을 견딘 후 마침내 다소의 안도를 얻고 있다.
<h2 class="wp-block-heading">수익률 곡선의 가파른 상승: 역전의 수년 후 변화</h2>
2022년 7월부터 단기 수익률이 장기 수익률 위에 고착되어 매우 이례적인 환경이 조성되었다. 하지만 2024년 12월 현재, 수익률 곡선은 긍정적인 영역으로 돌아왔지만 여전히 역사적 기준과는 거리가 멀다.
현재 2년물과 10년물의 스프레드는 +0.33%로, 1% 평균보다 훨씬 낮다.
추가 읽기: <a href="https://www.benzinga.com/government/regulations/25/01/43059174/buy-long-duration-bonds-says-bank-of-america-strategist">‘장기 채권을 매수하라,' A 은행 전략가의 말: 트럼프의 적자 대응이 전개됨에 따라 주목해야 할 4개 ETF</a>
<h2 class="wp-block-heading">회사채에서 최고의 가치가 있는 곳</h2>
LPL 파이낸셜의 수석 고정 수익 전략가인 로렌스 길럼(Lawrence Gillum)에 따르면, 국채 곡선은 다음과 같은 이유로 계속해서 가파르게 변할 수 있다:
<ul>
<li>경제 지표가 예상을 초과하고,</li>
<li>인플레이션이 지속적으로 높은 수준을 유지하며</li>
<li>예산 적자 확대를 메우기 위한 국채 발행이 증가한.</li>
</ul>
그러나 이러한 변화에도 불구하고, 길럼은 여전히 &#8220;가성비&#8221;가 가장 좋은 곳이 회사채 크레 곡선의 1-5년 구간에 있다고 믿으며, 5-7년 구간도 점진적인 가치를 제공한다고 말했다.
<h2 class="wp-block-heading">기회를 활용할 ETF들</h2>
상황에 맞게 포지셔닝하려는 투자자들은 iShares iBoxx $ Investment Grade Corporate Bond ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LQD#NYSE">LQD</a>)와 SPDR Portfolio Corporate Bond ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPBO#NYSE">SPBO</a>)와 같은 ETF를 통해 투자 등급 회사채에 광범위하게 노출될 수 있다. 반면, 단기 쪽에 머물고 싶다면 Vanguard Short-Term Corporate Bond ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCSH#NASDAQ">VCSH</a>)나 iShares 1-5 Year Investment Grade Corporate Bond ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGSB#NASDAQ">IGSB</a>)를 고려할 수 있으며, 둘 다 길럼이 추천하는 만기 범위와 일치한다.
결론은? 장기 수익률이 상승하는 동안, 단기에서 중기 회사채가 현재 매력적인 위험-보상 거래를 제공하고 있다. 일부 투자자들은 기회가 있는 동안 수익률을 고정하려고 하고 있다.
다음 읽기: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43101541/exclusive-powell-co-will-wait-wisdomtree-expert-says-on-why-investors-need-smarter-bond-strategy" target="_blank" rel="noreferrer noopener">독점: ‘파월과 동료들은 기다릴 것이다' — 위즈덤트리 전문가가 투자자들이 더 스마트한 채권 전략이 필요한 이유를 설명합니다.</a></li>
</ul>
이미지는 Midjourney를 통해 인공지능으로 생성되었습니다.
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'비용 대비 최고의 효과': 전문가는 1-5년 크레딧 곡선에서 가장 강력한 가치를 본다'

안정성을 위해 채권 및 채권 ETF를 찾는 투자자들은 도널드 트럼프 대통령 당선인의 관세 접근 방식으로 인해 <a href="https://www.benzinga.com/topic/treasury-yields">수익률 상승 압박</a>을 가할 수 있으므로 변동성이 높아질 수 있다.
무슨 일이 (What Happened): 채권 수익률은 목요일 연방준비제도(연준)의 25베이시스포인트 금리 인하 이후 계속 상승하고 있다. 10년 만기 국채 수익률은 트럼프의 재정 정책에 대한 시장의 추측에 따라 4.34%로 상승했다.
이러한 변화는 연준이 차입 비용을 낮추려는 노력을 복잡하게 만들며, 개별 채권 보유자들과 채권 ETF 투자자들에게 우려를 불러일으킨다. 세금 인하와 예상되는 관세의 배경은 연방준비제의 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41814589/why-trumps-boost-to-treasury-yields-inflation-expectations-may-weaken-feds-efforts-">금리 인하 능력을 제한</a>할 수 있다.
또한 읽어보세요: <a href="https://www.benzinga.com/24/11/41886697/two-ideas-famed-stock-market-forecasters-agree-on-for-2025">트럼프의 승리가 두 명의 시장 전문가를 소형주 및 금융주에 베팅하게 만든 이유</a>
9월 중순 이후로 국채 수익률은 70베이시스포인트 이상 급등하여 채권 가격에 추가 압박을 가하고 주요 채권 ETF에 영향을 미쳤다. BofA 글로벌 리서치는 국채 수익률 전망을 4.25%-4.75% 범위로 조정했다고 로이터가 보도했다. 이러한 상승하는 수익률 환경은 채권에 도전 과제를 제기한다. 높은 수익률은 채권 가격의 하락과 연결되며, 이는 채권 ETF 투자자들의 수익을 잠식할 수 있다.
왜 중요한가 (Why It Matters): 로이터에 따르면, 책임 있는 연방 예산 위원회는 트럼프의 제안된 재정 정책이 향후 10년간 국가 부채에 약 7.75조 달러를 추가할 것이라고 추정한다. 경제학자들, 은행들 및 분석가들은 이 <a href="https://www.benzinga.com/personal-finance/24/09/40961812/economists-warn-trumps-plans-for-tax-cuts-tariffs-and-deportation-could-trigger-skyrocketing-inf">계획이 인플레이션을 악화시키고 부채를 지속 불가능하게 만들 것</a>이라고 경고했다.
다양한 채권 시장 세그먼트에 대한 노출을 제공하는 채권 ETF는 채권 수익률이 상승함에 따라 이러한 재정적 압박의 영향을 받을 가능성이 높다.
수익률 상승은 채권 ETF 투자자에게 더 매력적인 소득을 제공할 수 있지만, 수익률이 계속 상승함에 따라 가격 하락과 관련된 위험이 커질 수도 있다.
월요일에는 10개의 주요 채권 ETF가 주로 하락 마감했다:
<ul>
<li>Vanguard Total Bond Market ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BND#NASDAQ">BND</a>): $72.95, 0.19% 하락.</li>
<li>iShares Core U.S. Aggregate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGG#NYSE">AGG</a>): $98.28, 0.22% 하락.</li>
<li>SPDR Portfolio Aggregate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPAB#NYSE">SPAB</a>): $25.37, 0.2% 하락.</li>
<li>iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LQD#NYSE">LQD</a>): $109.64, 0.19% 하락.</li>
<li>Vanguard Short-Term Corporate Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCSH#NASDAQ">VCSH</a>): $78.31, 0.077% 하락.</li>
<li>iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>): $92.04, 0.49% 하락.</li>
<li>Vanguard Intermediate-Term Corporate Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCIT#NASDAQ">VCIT</a>): $81.49, 0.20% 하락.</li>
<li>iShares U.S. Treasury Bond ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/GOVT#BATS">GOVT</a>): $22.73, 0.20% 하락.</li>
<li>SPDR Bloomberg High Yield Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNK#NYSE">JNK</a>): $97.01, 0.06% 하락.</li>
<li>Vanguard Total International Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNDX#NASDAQ">BNDX</a>): $49.93, 0.08% 상승.</li>
</ul>
트럼프 하의 채권 수익률 상승과 재정적 확장으로 인해 채권 ETF는 변동성을 계속해서 경험할 수 있다.
채권 투자자들은 높은 수익률의 매력을 채권 가격 하락의 잠재적 위험과 비교해야 할 필요가 있다. 특히 고수익과 장기 국채 세그먼트에서는 시장 변화가 가장 뚜렷할 것으로 예상된다.
다음 읽어볼 내용:
<ul>
<li><a href="https://kr.benzinga.com/news/usa/economy/%ED%8A%B8%EB%9F%BC%ED%94%84%EC%9D%98-%EC%84%B8%EA%B8%88-%EC%9D%B8%ED%95%98-%EA%B4%80%EC%84%B8-%EB%8F%99%EB%AC%BC%EC%A0%81-%EC%B6%A9%EB%8F%99%EC%9D%B4-sp-500-%EC%88%98%EC%9D%B5%EC%97%90/" target="_blank" rel="noopener">트럼프의 세금 인하, 관세, &#8216;동물적 충동&#8217;이 S&amp;P 500 실적에 미칠 영향</a></li>
</ul>
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