Blackrock’s iShares begun trading the iShares Currency Hedged Global ex USD High Yield Bond ETF (NYSEArca: HHYX) on Thursday, July 30, 2015.
|Symbol: HHYX||Exchange: NYSE Arca|
|Name: iShares Currency Hedged Global ex USD High Yield Bond ETF||Net Expense Ratio: 0.43%|
The iShares Currency Hedged Global ex USD High Yield Bond ETF seeks to track the investment results of the Markit iBoxx Global Developed Markets ex-US High Yield (USD Hedged) Index.
The Markit iBoxx Global Developed Markets ex-US High Yield (USD Hedged) Index is is a rules-based index consisting of high yield corporate bonds denominated in euros, British pounds sterling and Canadian dollars, with the currency risk of the securities Index hedged to the U.S. dollar on a monthly basis.
The Index is designed to provide a broad representation of the global ex-U.S. dollar high yield corporate bond market based on developed market issuers. High yield bonds are also known as “junk bonds.” The Index includes only corporate bonds that are issued by companies domiciled in countries classified as developed markets by the index provider. The Underlying Index is a market value weighted index with a cap on each issuer of 3%.
There is no limit to the number of issues in the Underlying Index. The Index may include large-, mid- or small-capitalization
companies. Components of the Underlying Index primarily include capital goods, consumer cyclical and financials companies. The components of the Index, and the degree to which these components represent certain industries, may change over time. Bond types include fixed coupon bonds, step-up bonds, bonds with sinking funds, medium-term notes and callable and putable bonds, but exclude convertible securities, preferred stock, bonds having equity features, perpetual bonds, floating rate notes, pay in-kind bonds (during certain periods), zero coupon bonds and zero step-ups. The maturities of the securities in the Underlying Index range from 1-15 years.
As of its inception date, the Fund intends to seek to achieve its investment objective by investing a substantial portion of its assets in the iShares Global ex USD High Yield Corporate Bond ETF (HYXU).
ETF’s Country Weightings:
HHYX Home Page