While May continues to be a strong month for investors, ETF issuers ArrowShares is looking to introduce its second ETF to market. Encouraged by the growing success of its first high yield fund, (GYLD, B), this Maryland-based firm filed earlier this week for a bond fund [see ETF Database Launch Center].
- The Arrow Global Enhanced High Yield Bond ETF: This proposed ETF will follow the Global Enhanced High Yield Bond Issuers Index, which is comprised of low to below investment grade corporate debt from around the world, denominated in U.S. dollars, euros, British Pounds, or Canadian dollars [also check out the Visual History Of The Dow Jones Industrial Average].
This narrow view of the global market has paid off already for GYLD, which has brought in almost $80 million and is yielding 20.5% since its inception last May. Yield hunting is becoming an increasingly popular strategy for issuers, with investors trying to beat the already swollen market returns.
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Disclosure: No positions at time of writing.