High-Yield Bonds: Are ETFs the Best Vehicle?

High-yield exchange-traded funds (ETFs) have been growing like gangbusters in recent months, despite continued weak performance relative to the indices that they track. While these instruments make sense for investors who make rapid, tactical trades into and out of the asset class, we think they’re a poor choice for those seeking to gain long-term exposure to high-yield bonds. Below, my colleagues Ashish Shah and Gershon Distenfeld explain why. (more…)


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