iShares iBoxx $ High Yield Corporate Bond ETF
HYG · Exchange-traded fund · Bonds
Market Close· Not a live price
What this fund holds
iShares iBoxx $ High Yield Corporate Bond ETF is an exchange-traded fund. It holds bonds from companies rated below investment grade — sometimes called junk bonds.
1M price history
What this fund owns
Bonds from companies rated below investment grade — sometimes called junk bonds.
Pays a higher rate of interest because lenders are being compensated for a real chance of not being repaid.
Fund profile
Classification, not a provider estimate- Asset class
- Fixed income (bonds)
- Category
- High-yield corporate bonds
- Typical maturity
- Short (roughly 1–3 years)
- Credit quality
- Below investment grade
- Interest-rate sensitivity
- Low
- Credit risk
- High
Expense ratio, yield to maturity and average duration in years are not available from Scope's current data provider for bond funds, so they are shown as unavailable rather than estimated.
How interest rates affect it
Bond prices and interest rates generally move in opposite directions. When market interest rates rise, existing bond prices generally fall, and when rates fall, existing bond prices generally rise. Longer-duration bonds are typically more sensitive to interest-rate changes.
This fund's interest-rate sensitivity is low, and its credit risk is high. Those are two separate risks: a fund can carry a lot of one and almost none of the other.
What can go wrong
- Credit risk: high. This is the dominant risk here, not interest rates. Borrowers can default.
- It often behaves more like shares than like government bonds, and has fallen sharply in recessions.
- Being a bond fund does not make this a low-risk holding.
Bond ETFs can fall in value and have done so. They are usually steadier than shares, which is not the same as safe.
For learning purposes only. Scope does not offer trading or financial advice.