HYD: Toward My Preferred Strategy But Not Quite There

Impact · against what's priced in

HYD's strategy of targeting excess yield through unrated and low-rated municipal bonds provides a positive outlook for investors seeking tax-advantaged income. The fund's balanced approach to overweighting unrated bonds suggests a moderated risk profile compared to more aggressive peers.

HYD+0.30

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In context

The fund captures excess yield by exploiting mispriced credit risk in unrated and low-rated municipal bonds, while maintaining a less aggressive overweight position than some peers.

Read from the article alone

• HYD
• credit risk
• etf
• high yield
• muni bonds
• municipal debt
• tax advantage

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