Fixed income investors know that bond prices and yields move inverse of one another. That means when yields decline, prices rise. And that's perhaps the biggest reason the Fed moves are so widely monitored. The price/yield scenario holds true across the bond universe. That means Fed action is impactful for ETFs such as the Neuberger Berman Flexible Credit Income ETF (NBFC). The fund lives up to its "flexible†billing. That's because the actively managed fund features both investment-grade and high-yield co ...

高收益与投资级公司债券表现 - 高收益和投资级公司债券相关ETF年初至今平均上涨7% [1] Neuberger Berman Flexible Credit Income ETF (NBFC)产品特征 - 该主动管理型ETF于2024年6月推出 采用混合投资策略同时包含投资级和垃圾债券 并更侧重于后者 [3] - 基金30天SEC收益率达6.39% 其中部分收益来源于投资级债券 [4] - 投资级公司债券收益率目前处于近15年区间高位 中期期限证券平均收益率区间为4.25%至5.50% [5] 债券收益率与价格关系 - 债券价格与收益率呈反向变动关系 较高初始收益率可能预示较短成功周期 [6] - 当前投资级公司债券收益率可能预示其未来总回报 为利率路径不确定环境下的投资者提供吸引力 [7] 历史表现关联性 - 固定收益历史显示投资级公司债券起始收益率与未来表现存在显著关联性 [8]

Old guard high-yield corporate bond ETFs have plenty of fans among advisors and fixed income investors. That's understandable because those funds, usually passively managed, provide broad exposure to junk- rated debt, often with favorable fees. Positive attributes to be sure, but that doesn't mean the junk bond ETF proposition can't be improved upon. Arguably, this is a corner of the bond ETF realm that could use some refreshing — an objective accomplished by the Neuberger Berman Flexible Credit Income ETF ...