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IQ S&P High Yield Low Volatility Bond ETF

ETF
HYLV
Payout Change
Pending
Price as of:
$21.88 +0.06 +0.27%
primary theme
N/A
HYLV (ETF)

IQ S&P High Yield Low Volatility Bond ETF

Payout Change
Pending
Price as of:
$21.88 +0.06 +0.27%
primary theme
N/A
HYLV (ETF)

IQ S&P High Yield Low Volatility Bond ETF

Payout Change
Pending
Price as of:
$21.88 +0.06 +0.27%
primary theme
N/A

Name

As of 01/31/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

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IQ S&P High Yield Low Volatility Bond ETF

HYLV | ETF

$21.88

$19.4 M

5.22%

$1.14

0.40%

Featured Dividend News, Stocks, ETFs, Funds

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Vitals

YTD Return

3.0%

1 yr return

-4.6%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

1.8%

Net Assets

$19.4 M

Holdings in Top 10

8.6%

52 WEEK LOW AND HIGH

$21.9
$20.69
$23.94

Expenses

OPERATING FEES

Expense Ratio 0.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 01/31/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

IQ S&P High Yield Low Volatility Bond ETF

HYLV | ETF

$21.88

$19.4 M

5.22%

$1.14

0.40%

Featured Dividend News, Stocks, ETFs, Funds

View all

HYLV - Profile

Distributions

  • YTD Total Return 3.0%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.72%
DIVIDENDS
  • Dividend Yield 5.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    IQ S&P High Yield Low Volatility Bond ETF
  • Fund Family Name
    IndexIQ
  • Inception Date
    Feb 15, 2017
  • Shares Outstanding
    850000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Eric Gold

Fund Description

The Fund employs a “passive management” — or indexing — investment approach designed to track the performance of the S&P U.S. High Yield Low Volatility Corporate Bond Index (the “Underlying Index”), which has been developed by S&P Opco LLC (a subsidiary of S&P Dow Jones Indices LLC) (the “Index Provider”). The Underlying Index is comprised of U.S. dollar denominated high yield corporate bonds that have been selected in accordance with a rules-based methodology that seeks to identify securities that, in the aggregate, are expected to have lower volatility relative to the broad U.S. dollar denominated high yield corporate bond market. The Underlying Index is a market value weighted index comprised of bonds included in the S&P U.S. High Yield Corporate Bond Index that meet liquidity and risk-based selection criteria.
The Underlying Index is comprised of U.S. dollar denominated high yield corporate bonds of issuers domiciled in the U.S. and foreign countries classified as developed markets by the Index Provider. To be eligible for inclusion in the Underlying Index, bonds must meet the following criteria: (i) pay fixed-rate coupons; (ii) have at least $400 million of outstanding face value; (iii) have a remaining maturity of at least one month as of the rebalancing date; and (v) have an average rating below investment grade by Moody’s Investors Service, Standard & Poor’s, and/or Fitch Ratings. Eligible U.S. dollar denominated high yield corporate bonds are further screened for liquidity considerations based on their bond type, size, spread, duration and time since issuance.
Once the Underlying Index universe is defined based on the eligibility criteria, each bond is then ranked according to its marginal contribution to risk (“MCR”). MCR is a measurement of the amount of risk a security contributes to a portfolio of securities. MCR is calculated using a bond’s duration and the difference between the bond’s spread (the difference between the option-adjusted yield of the bond and the yield of a U.S. treasury security with a similar maturity) and a weighted average spread of the bonds in the index universe. In general, a bond with a higher MCR will add more credit risk to the overall portfolio than a bond with a lower MCR.
After ranking all eligible bonds based upon their MCR, the Underlying Index selects for inclusion the 50 percent of bonds measured to have the least credit risk based on their MCR. A bond included in the Underlying Index must remain in the 60 percent of bonds measured to have the least credit risk based on its MCR to remain in the Underlying Index. The Underlying Index seeks to construct a portfolio of securities that has lower volatility than the U.S. dollar-denominated high yield bond universe through the selection of lower-risk bonds based on MCR. Once the bonds are selected for inclusion in the Underlying Index, they are weighted by market value.
The Underlying Index is rebalanced monthly and typically consists of 400 to 500 securities.
The Fund uses a “Representative Sampling” strategy in seeking to track the performance of the Underlying Index. A fund using a Representative Sampling strategy generally will invest in a sample of securities that collectively has an investment profile similar to that of the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability, duration, maturity, credit ratings and yield) and liquidity measures similar to those of the Underlying Index. The Fund may also invest in credit default swaps and futures contracts to seek to track the Underlying Index.
To the extent the Underlying Index concentrates (i.e., holds 25% or more 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 the Underlying Index. As of June 30, 2022, the primary sectors within the Underlying Index are communication services and financials.
The Fund may invest in one or more ETFs advised by the Advisor (“Affiliated ETFs”) that are not components of the index if such an investment will help the Fund track the Underlying Index.
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HYLV - Performance

Return Ranking - Trailing

Period HYLV Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -39.9% 8.4% 70.27%
1 Yr -4.6% -25.5% 21.3% 11.84%
3 Yr -1.1%* -16.0% 66.0% 13.52%
5 Yr 1.8%* -13.5% 37.8% 8.62%
10 Yr N/A* -9.0% 16.6% N/A

* Annualized

Return Ranking - Calendar

Period HYLV Return Category Return Low Category Return High Rank in Category (%)
2025 -11.3% -44.3% 3.7% 16.32%
2024 1.1% -56.9% 9.2% 15.05%
2023 1.4% -53.7% 70.9% 11.96%
2022 3.4% -33.7% 5.1% 2.94%
2021 -0.7% -9.4% 12.0% 8.25%

Total Return Ranking - Trailing

Period HYLV Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -39.9% 8.4% 72.03%
1 Yr -4.6% -25.5% 22.2% 12.18%
3 Yr -1.1%* -16.0% 66.0% 15.16%
5 Yr 1.8%* -13.5% 37.8% 11.20%
10 Yr N/A* -9.0% 16.6% N/A

* Annualized

Total Return Ranking - Calendar

Period HYLV Return Category Return Low Category Return High Rank in Category (%)
2025 -11.3% -44.3% 3.7% 16.32%
2024 1.1% -56.9% 9.2% 15.20%
2023 1.4% -53.7% 70.9% 11.96%
2022 3.4% -33.7% 5.1% 2.94%
2021 -0.7% -9.4% 12.0% 19.47%

HYLV - Holdings

Concentration Analysis

HYLV Category Low Category High HYLV % Rank
Net Assets 19.4 M 1.47 M 26.2 B 95.61%
Number of Holdings 420 2 2736 36.61%
Net Assets in Top 10 1.65 M -492 M 2.55 B 94.18%
Weighting of Top 10 8.62% 1.9% 100.0% 73.99%

Top 10 Holdings

  1. Occidental Petroleum Corporation 5.55% 1.36%
  2. CCO Holdings, LLC/ CCO Holdings Capital Corp. 5% 0.99%
  3. TransDigm, Inc. 6.25% 0.96%
  4. HCA Inc. 5.375% 0.94%
  5. Occidental Petroleum Corporation 4.5% 0.87%
  6. FirstEnergy Corp. 2.65% 0.85%
  7. AAdvantage Loyalty IP Ltd/ American Airlines Inc 5.5% 0.82%
  8. Mozart Debt Merger Subordinated Inc. 3.875% 0.78%
  9. Kraft Heinz Foods Company 3.75% 0.76%
  10. Centene Corporation 4.625% 0.76%

Asset Allocation

Weighting Return Low Return High HYLV % Rank
Bonds 		98.24% 0.00% 154.38% 12.37%
Cash 		1.51% -52.00% 100.00% 73.22%
Convertible Bonds 		0.25% 0.00% 17.89% 85.38%
Stocks 		0.00% -0.60% 52.82% 87.37%
Preferred Stocks 		0.00% 0.00% 14.10% 78.40%
Other 		0.00% -63.70% 32.06% 71.15%

Bond Sector Breakdown

Weighting Return Low Return High HYLV % Rank
Corporate 		98.49% 0.00% 100.00% 13.21%
Cash & Equivalents 		1.51% 0.00% 100.00% 79.53%
Derivative 		0.00% 0.00% 45.95% 68.91%
Securitized 		0.00% 0.00% 97.24% 77.98%
Municipal 		0.00% 0.00% 1.17% 61.53%
Government 		0.00% 0.00% 99.07% 72.80%

Bond Geographic Breakdown

Weighting Return Low Return High HYLV % Rank
US 		89.89% 0.00% 150.64% 6.73%
Non US 		8.35% 0.00% 96.17% 83.44%

HYLV - Expenses

Operational Fees

HYLV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.40% 0.02% 3.87% 88.98%
Management Fee 0.40% 0.00% 1.84% 15.67%
12b-1 Fee 0.00% 0.00% 1.00% 10.20%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

HYLV 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% 5.50% N/A

Trading Fees

HYLV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

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.

HYLV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 327.00% 82.01%

HYLV - Distributions

Dividend Yield Analysis

HYLV Category Low Category High HYLV % Rank
Dividend Yield 5.22% 0.00% 39.39% 54.31%

Dividend Distribution Analysis

HYLV Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

HYLV Category Low Category High HYLV % Rank
Net Income Ratio 3.72% -2.39% 14.30% 78.94%

Capital Gain Distribution Analysis

HYLV Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

HYLV - Fund Manager Analysis

Managers

Eric Gold

Start Date

Tenure

Tenure Rank

Aug 31, 2021

0.75

0.8%

Eric is the Head of the Global Credit team, Co-Head of the Credit Committee and a member of the Investment Policy Committee. Eric is responsible for leadership and oversight of the team’s strategies, spanning high yield, loans and investment grade credit. Before joining the Global Credit team, Eric served as a Managing Director on the MacKay High Yield team. Over his tenure at MacKay Shields, Eric has been active in credit analysis and portfolio construction, covering a wide array of industry sectors across the credit universe. Prior to joining MacKay Shields in 2010, he was a sell-side Analyst covering the telecommunications, cable and media sectors at Sterne Agee & Leach, Inc. Previously, he was an Analyst at BlackRock and a sell-side Analyst at Grantchester Securities where he was ranked by Institutional Investor as the #1 analyst in the wireless telecommunications sector for 1999, 2000, 2001 and 2002. Eric received a BA from Vassar College and an MBA from New York University. He has been working in the investment industry since 1987.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.09 2.92

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