Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 04/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
3.7%
1 yr return
13.3%
3 Yr Avg Return
5.2%
5 Yr Avg Return
3.9%
Net Assets
$169 M
Holdings in Top 10
16.1%
Expense Ratio 0.43%
Front Load N/A
Deferred Load N/A
Turnover 40.00%
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Exchange Traded Fund
Name
As of 04/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund employs a “passive management” – or indexing – investment approach designed to track the performance of the Index. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of the securities in the Index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Index as a whole. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of collateral held from securities lending) will be invested in the constituent securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such constituent securities.
WisdomTree, Inc., the Index Provider and parent company of the Fund’s investment adviser, WisdomTree Asset Management, Inc. (“WisdomTree Asset Management” or the “Adviser”), designed the Index to provide long exposure to the performance of selected issuers in the U.S. non-investment-grade corporate bond (“junk bonds”) market that are deemed to have favorable fundamental and income characteristics while seeking to manage interest rate risk through the use of short positions in U.S. Treasury securities (“U.S. Treasuries”).
The Index is comprised of long and short positions. The long positions of the Index (the “Long Basket”) intends to replicate the WisdomTree U.S. High Yield Corporate Bond Index. The Index employs a multi-step process, which screens based on fundamentals to identify bonds with favorable characteristics and then tilts to those individual securities which offer favorable income characteristics. The goal is to improve the risk-adjusted performance of traditional market capitalization-weighted approaches of high-yield corporate bond indexes.
The Long Basket of the Index is comprised of corporate bonds of public issuers domiciled in the United States. To be eligible for inclusion in the Index, bonds must meet the following criteria: (i) pay fixed-rate coupons; (ii) have at least $500 million in par amount outstanding; (iii) have a remaining maturity of at least one year; and (iv) rated non-investment grade by Moody’s or S&P Global Ratings. In addition, the issuer cannot have defaulted or be in distress. For the purposes of the Index, bonds issued under Regulation S are excluded from eligibility. All bonds are denominated in U.S. dollars.
The Long Basket of the Index utilizes a “screen and tilt” rules-based approach to isolate bonds that have favorable fundamentals and tilts to those bonds with favorable income and valuation characteristics. Once the Index universe is defined from the eligibility criteria, individual bonds are assigned a factor score against their broad sector peers (e.g., industrials, financials, utilities, consumer and energy) based on rules-based fundamental metrics distinguishing cash flow characteristics and discards the securities with poor cash flow performance. Remaining bonds are ranked within each sector based on liquidity scores and then screened so that the bonds receiving the lowest 5% of liquidity scores in each sector are removed from the Index. Each remaining bond is then assigned an income tilt score based on its probability of default relative to the other remaining bonds in its sector. Income tilt scores are then used to determine a bond’s weight in the Index, with bonds receiving higher income tilt scores being more heavily weighted. Issuer exposure is capped at 2%, with excess exposure distributed to the remaining bonds on a pro-rata basis.
The short positions of the Index (the “Short Basket”) holds short positions in U.S. Treasuries (or futures providing exposure to U.S. Treasuries in the case of the Fund) that seek to correspond to a duration exposure matching the duration of the Long Basket, with a targeted total duration exposure of approximately zero years (e.g., if the average duration of bonds in the Long Basket is approximately two years, the Short Basket will seek an average duration of approximately two years among its short holdings of U.S. Treasuries, with an aggregate targeted Index duration of approximately zero years). Duration is a measure used to determine the sensitivity of a portfolio to changes in interest rates with a longer duration portfolio being more sensitive to changes in interest rates. The Fund may also short U.S. Treasuries.
The Index weights the short exposure to U.S. Treasuries of differing maturities in an attempt to offset the sensitivity of the long exposure to overall moves in interest rates across the yield curve. The Long Basket and Short Basket of the Index are rebalanced on a monthly basis.
The Index is designed to have greater returns than an equivalent non-interest rate hedged investment when U.S. Treasury rates are rising significantly. Conversely, the Index is designed to have lower returns than an equivalent non-interest rate hedged investment when U.S. Treasury rates are falling significantly.
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of industries, the Fund will concentrate its investments to approximately the same extent as its Index.
Period | HYZD Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.7% | -14.1% | 9.6% | 5.28% |
1 Yr | 13.3% | -11.6% | 26.3% | 1.55% |
3 Yr | 5.2%* | -17.8% | 17.9% | 1.79% |
5 Yr | 3.9%* | -13.6% | 14.9% | 7.36% |
10 Yr | 3.7%* | -13.6% | 6.5% | 3.56% |
* Annualized
Period | HYZD Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.6% | -12.0% | 15.7% | 15.35% |
2022 | -7.2% | -31.8% | 18.4% | 20.99% |
2021 | 2.1% | -26.6% | 25.7% | 4.93% |
2020 | -5.8% | -49.2% | 18.7% | 91.30% |
2019 | 3.3% | -35.1% | 15.3% | 70.04% |
Period | HYZD Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.7% | -14.1% | 9.6% | 5.28% |
1 Yr | 13.3% | -11.6% | 26.3% | 1.55% |
3 Yr | 5.2%* | -17.8% | 17.9% | 1.79% |
5 Yr | 3.9%* | -13.6% | 14.9% | 7.36% |
10 Yr | 3.7%* | -13.6% | 6.5% | 3.56% |
* Annualized
Period | HYZD Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.2% | -7.0% | 22.2% | 9.30% |
2022 | -2.4% | -31.8% | 21.1% | 12.56% |
2021 | 6.3% | -13.5% | 49.9% | 7.06% |
2020 | -0.6% | -28.6% | 24.1% | 88.28% |
2019 | 9.2% | -4.8% | 19.1% | 45.80% |
HYZD | Category Low | Category High | HYZD % Rank | |
---|---|---|---|---|
Net Assets | 169 M | 2.53 M | 143 B | 75.74% |
Number of Holdings | 466 | 4 | 9868 | 51.14% |
Net Assets in Top 10 | 25.3 M | -1.57 B | 65.8 B | 84.02% |
Weighting of Top 10 | 16.09% | 0.7% | 171.7% | 81.89% |
Weighting | Return Low | Return High | HYZD % Rank | |
---|---|---|---|---|
Bonds | 96.44% | -150.81% | 196.48% | 22.98% |
Cash | 8.86% | -94.66% | 258.91% | 21.92% |
Convertible Bonds | 0.94% | 0.00% | 33.50% | 58.75% |
Stocks | 0.00% | -4.18% | 99.88% | 84.02% |
Preferred Stocks | 0.00% | 0.00% | 30.46% | 67.28% |
Other | -0.17% | -62.91% | 100.00% | 86.45% |
Weighting | Return Low | Return High | HYZD % Rank | |
---|---|---|---|---|
Corporate | 52.33% | 0.00% | 96.66% | 30.93% |
Cash & Equivalents | 8.86% | 0.00% | 74.29% | 19.24% |
Government | 0.18% | 0.00% | 99.43% | 84.46% |
Securitized | 0.00% | 0.00% | 99.65% | 94.51% |
Municipal | 0.00% | 0.00% | 54.26% | 59.97% |
Derivative | -0.17% | -62.91% | 37.37% | 70.69% |
Weighting | Return Low | Return High | HYZD % Rank | |
---|---|---|---|---|
US | 96.44% | -151.11% | 196.48% | 18.72% |
Non US | 0.00% | 0.00% | 67.77% | 78.08% |
HYZD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.43% | 0.01% | 20.67% | 97.27% |
Management Fee | 0.43% | 0.00% | 2.29% | 13.29% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
HYZD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
HYZD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
HYZD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 40.00% | 0.00% | 632.00% | 14.34% |
HYZD | Category Low | Category High | HYZD % Rank | |
---|---|---|---|---|
Dividend Yield | 6.00% | 0.00% | 23.30% | 20.97% |
HYZD | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annually | Monthly | Monthly |
HYZD | Category Low | Category High | HYZD % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.40% | -1.55% | 11.51% | 13.76% |
HYZD | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Apr 29, 2024 | $0.110 | OrdinaryDividend |
Mar 27, 2024 | $0.110 | OrdinaryDividend |
Feb 28, 2024 | $0.105 | OrdinaryDividend |
Jan 30, 2024 | $0.100 | OrdinaryDividend |
Dec 28, 2023 | $0.147 | OrdinaryDividend |
Nov 29, 2023 | $0.110 | OrdinaryDividend |
Oct 30, 2023 | $0.110 | OrdinaryDividend |
Sep 28, 2023 | $0.106 | OrdinaryDividend |
Aug 30, 2023 | $0.106 | OrdinaryDividend |
Jul 28, 2023 | $0.105 | OrdinaryDividend |
Jun 29, 2023 | $0.100 | OrdinaryDividend |
May 30, 2023 | $0.100 | OrdinaryDividend |
Apr 27, 2023 | $0.100 | OrdinaryDividend |
Mar 30, 2023 | $0.100 | OrdinaryDividend |
Feb 27, 2023 | $0.100 | OrdinaryDividend |
Jan 30, 2023 | $0.100 | OrdinaryDividend |
Dec 29, 2022 | $0.107 | OrdinaryDividend |
Nov 29, 2022 | $0.100 | OrdinaryDividend |
Oct 28, 2022 | $0.100 | OrdinaryDividend |
Sep 29, 2022 | $0.100 | OrdinaryDividend |
Aug 30, 2022 | $0.095 | OrdinaryDividend |
Jul 28, 2022 | $0.095 | OrdinaryDividend |
Jun 29, 2022 | $0.085 | OrdinaryDividend |
May 27, 2022 | $0.080 | OrdinaryDividend |
Apr 28, 2022 | $0.075 | OrdinaryDividend |
Mar 30, 2022 | $0.075 | OrdinaryDividend |
Feb 25, 2022 | $0.075 | OrdinaryDividend |
Jan 28, 2022 | $0.075 | OrdinaryDividend |
Dec 30, 2021 | $0.070 | OrdinaryDividend |
Nov 29, 2021 | $0.075 | OrdinaryDividend |
Oct 28, 2021 | $0.075 | OrdinaryDividend |
Sep 29, 2021 | $0.075 | OrdinaryDividend |
Aug 30, 2021 | $0.075 | OrdinaryDividend |
Jul 29, 2021 | $0.075 | OrdinaryDividend |
Jun 29, 2021 | $0.075 | OrdinaryDividend |
May 27, 2021 | $0.075 | OrdinaryDividend |
Apr 29, 2021 | $0.075 | OrdinaryDividend |
Mar 30, 2021 | $0.075 | OrdinaryDividend |
Feb 25, 2021 | $0.070 | OrdinaryDividend |
Jan 28, 2021 | $0.080 | OrdinaryDividend |
Dec 24, 2020 | $0.090 | OrdinaryDividend |
Nov 27, 2020 | $0.090 | OrdinaryDividend |
Oct 30, 2020 | $0.088 | OrdinaryDividend |
Sep 25, 2020 | $0.088 | OrdinaryDividend |
Aug 28, 2020 | $0.088 | OrdinaryDividend |
Jul 31, 2020 | $0.090 | OrdinaryDividend |
Jun 26, 2020 | $0.090 | OrdinaryDividend |
May 29, 2020 | $0.078 | OrdinaryDividend |
Apr 24, 2020 | $0.095 | OrdinaryDividend |
Mar 27, 2020 | $0.107 | OrdinaryDividend |
Feb 28, 2020 | $0.107 | OrdinaryDividend |
Jan 24, 2020 | $0.110 | OrdinaryDividend |
Dec 27, 2019 | $0.115 | OrdinaryDividend |
Nov 29, 2019 | $0.110 | OrdinaryDividend |
Oct 25, 2019 | $0.105 | OrdinaryDividend |
Sep 27, 2019 | $0.103 | OrdinaryDividend |
Aug 30, 2019 | $0.100 | OrdinaryDividend |
Jul 26, 2019 | $0.100 | OrdinaryDividend |
Jun 28, 2019 | $0.100 | OrdinaryDividend |
May 31, 2019 | $0.105 | OrdinaryDividend |
Apr 26, 2019 | $0.108 | OrdinaryDividend |
Mar 29, 2019 | $0.110 | OrdinaryDividend |
Feb 22, 2019 | $0.110 | OrdinaryDividend |
Jan 25, 2019 | $0.110 | OrdinaryDividend |
Dec 28, 2018 | $0.120 | OrdinaryDividend |
Nov 23, 2018 | $0.115 | OrdinaryDividend |
Oct 26, 2018 | $0.110 | OrdinaryDividend |
Sep 28, 2018 | $0.110 | OrdinaryDividend |
Aug 24, 2018 | $0.105 | OrdinaryDividend |
Jul 27, 2018 | $0.100 | OrdinaryDividend |
Jun 28, 2018 | $0.100 | OrdinaryDividend |
May 25, 2018 | $0.095 | OrdinaryDividend |
Apr 27, 2018 | $0.095 | OrdinaryDividend |
Mar 23, 2018 | $0.095 | OrdinaryDividend |
Feb 23, 2018 | $0.090 | OrdinaryDividend |
Jan 26, 2018 | $0.090 | OrdinaryDividend |
Dec 29, 2017 | $0.101 | OrdinaryDividend |
Nov 27, 2017 | $0.093 | OrdinaryDividend |
Oct 27, 2017 | $0.103 | OrdinaryDividend |
Sep 29, 2017 | $0.105 | OrdinaryDividend |
Aug 25, 2017 | $0.090 | OrdinaryDividend |
Jul 28, 2017 | $0.093 | OrdinaryDividend |
Jun 30, 2017 | $0.095 | OrdinaryDividend |
May 26, 2017 | $0.095 | OrdinaryDividend |
Apr 28, 2017 | $0.100 | OrdinaryDividend |
Mar 31, 2017 | $0.100 | OrdinaryDividend |
Feb 24, 2017 | $0.110 | OrdinaryDividend |
Jan 27, 2017 | $0.110 | OrdinaryDividend |
Dec 30, 2016 | $0.120 | OrdinaryDividend |
Nov 28, 2016 | $0.120 | OrdinaryDividend |
Oct 28, 2016 | $0.110 | OrdinaryDividend |
Sep 30, 2016 | $0.105 | OrdinaryDividend |
Aug 26, 2016 | $0.100 | OrdinaryDividend |
Jul 29, 2016 | $0.100 | OrdinaryDividend |
Jun 24, 2016 | $0.100 | OrdinaryDividend |
May 27, 2016 | $0.095 | OrdinaryDividend |
Apr 29, 2016 | $0.095 | OrdinaryDividend |
Mar 28, 2016 | $0.090 | OrdinaryDividend |
Feb 26, 2016 | $0.090 | OrdinaryDividend |
Jan 29, 2016 | $0.085 | OrdinaryDividend |
Dec 28, 2015 | $0.085 | OrdinaryDividend |
Nov 30, 2015 | $0.085 | OrdinaryDividend |
Oct 30, 2015 | $0.075 | OrdinaryDividend |
Sep 25, 2015 | $0.085 | OrdinaryDividend |
Aug 28, 2015 | $0.085 | OrdinaryDividend |
Jul 31, 2015 | $0.085 | OrdinaryDividend |
Jun 26, 2015 | $0.085 | OrdinaryDividend |
May 29, 2015 | $0.080 | OrdinaryDividend |
Apr 24, 2015 | $0.075 | OrdinaryDividend |
Mar 27, 2015 | $0.075 | OrdinaryDividend |
Feb 27, 2015 | $0.075 | OrdinaryDividend |
Jan 30, 2015 | $0.070 | OrdinaryDividend |
Dec 26, 2014 | $0.077 | OrdinaryDividend |
Nov 28, 2014 | $0.075 | OrdinaryDividend |
Oct 31, 2014 | $0.070 | OrdinaryDividend |
Sep 26, 2014 | $0.060 | OrdinaryDividend |
Aug 29, 2014 | $0.090 | OrdinaryDividend |
Jul 25, 2014 | $0.090 | OrdinaryDividend |
Jun 27, 2014 | $0.090 | OrdinaryDividend |
May 30, 2014 | $0.070 | OrdinaryDividend |
Apr 25, 2014 | $0.065 | OrdinaryDividend |
Mar 28, 2014 | $0.065 | OrdinaryDividend |
Feb 28, 2014 | $0.055 | OrdinaryDividend |
Jan 31, 2014 | $0.075 | OrdinaryDividend |
Dec 31, 2013 | $0.025 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jun 04, 2020
1.99
2.0%
Randy Parrish, CFA Head of Credit Randy Parrish is head of credit and a senior high yield portfolio manager at Voya Investment Management. As head of credit, Randy oversees the high yield, investment grade and emerging market teams. Previously, Randy was head of high yield and served as a portfolio manager and analyst on the high yield team since joining Voya in 2001. Prior to joining the firm, he was a corporate banker in leveraged finance with SunTrust Bank and predecessors to Bank of America. Randy received a BBA in business administration from the University of Georgia and holds the Chartered Financial Analyst® designation.
Start Date
Tenure
Tenure Rank
Jun 04, 2020
1.99
2.0%
Rick Cumberledge, CFA Head of High Yield Rick Cumberledge is head of high yield and a senior high yield portfolio manager at Voya Investment Management. Prior to joining the firm, Rick spent nearly six years working at Federated Investors as a senior high yield credit analyst. His previous experience includes positions with American Capital Strategies, Bank of America and Allied Capital. Rick has a BA in business administration from Westminster College and an MSc in finance from the George Washington University. He holds the Chartered Financial Analyst® designation.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.72 | 3.19 |
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