iShares USD High Yield Corp Bond UCITS ETF
The investment objective of the Fund is to provide investors with a total return, taking into account both capital and income returns, which reflects the return of the Markit iBoxx USD Liquid High Yield Capped Index, the Fund's benchmark index.
The Markit iBoxx USD Liquid High Yield Capped Index currently consists of sub-investment grade US Dollar denominated fixed rate bonds issued by corporate issuers in developed markets and rated by at least one of three rating services: Moody's Investors Service, Standard & Poor's Rating Services, or Fitch Ratings. It is designed to provide a balanced representation of the US Dollar high yield corporate market by the means of the most liquid high yield corporate bonds available. The maximum original time to maturity is 15 years and the minimum time to maturity is one and a half years for new bonds to be included and one year for bonds that already exist in the Benchmark Index. The Benchmark Index applies a cap of 3% per issuer and a 10% cap for 144A bonds which do not have registration rights or for which the registration period is greater than one year.
iShares is the global product leader in exchange traded funds with over 700 funds globally across equities, fixed income and commodities, which trade on 20 exchanges worldwide. The iShares Funds are bought and sold like common stocks on securities exchanges. The iShares Funds are attractive to many individual and institutional investors and financial intermediaries because of their relative low cost and trading flexibility. iShares ETFs can be bought and sold through a variety of different execution channels. The iShares customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals.www.ishares.com