BlackRock, Inc. begun trading the iShares Convertible Bond ETF (BATS: ICVT) on Thursday, June 04, 2015.
Here is a synopsis of the new ETF:
|Symbol: ICVT||Exchange: BATS|
|Name: iShares Convertible Bond ETF||Net Expense Ratio: 0.35%|
The iShares Convertible Bond ETF seeks to track the investment results of the Barclays U.S. Convertible Cash Pay Bond > $250MM Index.
The Barclays U.S. Convertible Cash Pay Bond > $250MM Index is a subset of the Barclays U.S. Convertibles: Cash Pay Bonds Index, which is one of the 4 classes of the Barclays U.S. Convertibles Index (i.e., cash pay, zero coupon, preferred and mandatory convertible bonds) and measures the performance of the U.S. dollar-denominated convertibles market. The Index is market capitalization-weighted and consists of only cash pay convertible bonds. Cash pay convertible bonds allow the holder of the bond the option to convert into a pre-specified number of shares of the issuer’s common stock, but does not require conversion. The universe of securities that are eligible for inclusion in the Underlying Index includes U.S. dollar-denominated securities with maturities of 31 days or more and $250 million or more of outstanding face value issued by financials, industrials and utilities corporations. The securities may be investment-grade, high yield or non- rated. The Underlying Index is rebalanced on the last business day of each month.
Fund Top Consituents (06/04/15):
|TESLA MOTORS INC||2.70%|
|PRICELINE GROUP INC||2.66%|
|MICROCHIP TECHNOLOGY INCORPORATED||2.26%|
|MICRON TECHNOLOGY INC||1.92%|
|GILEAD SCIENCES INC||1.78%|
Fund Sector Breakdown (06/04/15):
|Cash and/or Derivatives||1.90%|
ICVT Home Page
Category: Bonds> US Bonds> US Convertible Bonds