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Trending ETFs

Name

As of 07/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$39.20

$13.8 M

7.26%

$2.85

0.30%

Vitals

YTD Return

3.3%

1 yr return

10.6%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$13.8 M

Holdings in Top 10

6.5%

52 WEEK LOW AND HIGH

$39.2
$37.03
$39.99

Expenses

OPERATING FEES

Expense Ratio 0.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 07/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$39.20

$13.8 M

7.26%

$2.85

0.30%

XB - Profile

Distributions

  • YTD Total Return 3.3%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 7.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BondBloxx B Rated USD High Yield Corporate Bond ETF
  • Fund Family Name
    N/A
  • Inception Date
    May 24, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Elya Schwartzman

Fund Description

The Fund is non-diversified and seeks to track the investment results of the ICE BofA Single-B US Cash Pay High Yield Constrained Index (the “Index”), which contains all bonds in the ICE BofA US Cash Pay High Yield Index (the “Underlying Index”) that are rated B1 through B3, based on an average of Moody’s Investors Services Inc. (“Moody’s”), S&P Global Ratings (“S&P”) and Fitch Ratings, Inc. (“Fitch”), but caps issuer exposure at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. Similarly, the face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis. See “More Information About the Funds—Index Construction” for more information about the adjustment formula.

There is no limit to the number of issues in the Index, but as of December 31, 2023, the Index included approximately 700 constituents. The bonds included in the Index are publicly issued in the United States domestic market. Because the Index is reconstituted and rebalanced monthly, the components of the Index are likely to change over time.

As of December 31, 2023, the bonds eligible for inclusion in the Index include U.S. dollar-denominated high yield corporate bonds, currently in a coupon paying period, that are publicly issued in the U.S. domestic market, and that: (i) are issued by companies having “risk exposure” to countries (i.e., issuers that are subject to the risks of one or more of these countries as a result of the principal country of domicile of the issuers (as determined by ICE Data Indices, LLC or its affiliates, collectively “Index Provider” or “IDI”)) that are members of the FX-G10, which include Australia, Austria, Belgium, Canada, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, New Zealand, Norway, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, the U.K. and the U.S. and their respective territories; (ii) have an average rating of below investment grade (ratings from Fitch, Moody’s or S&P are considered; if more than one agency provides a rating, the Index Provider assigns a numeric equivalent to the available ratings from Fitch, Moody’s or S&P, calculates the average rating of the numeric equivalents and that average rating is then attached to the bond); (iii) are registered with the SEC, exempt from registration at issuance, or offered pursuant to Rule 144A under the Securities Act of 1933, as amended (the “1933 Act”), with or without registration rights; (iv) have at least $250 million of outstanding face value; (v) have an original maturity date of at least 18 months at the time of issuance; and (vi) have at least one year to maturity as of the rebalancing date. There is no upper limit on the maturity of bonds eligible for inclusion in the Index. For more information regarding the Underlying Index, see “More Information About the Funds—Underlying Index” below.

BIM uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “outperform” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.

Indexing will eliminate the chance that the Fund will substantially outperform the Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio turnover low in comparison to actively managed investment companies.

BIM uses a representative sampling indexing strategy to manage the Fund. “Representative sampling” is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable target index that BIM determines to collectively have an investment profile similar to that of the Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market value and sector weightings), fundamental characteristics (such as return variability, duration, maturity, credit ratings and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities in the Index. There may be instances in which BIM may choose to underweight or overweight a security in the Index, purchase securities not in the Index that BIM believes are appropriate to substitute for certain securities in the Index in seeking to replicate as closely as possible, before fees and expenses, the performance of the Index. The Fund may sell securities that are represented in the Index in anticipation of their removal from the Index or purchase securities not represented in the Index in anticipation of their addition to the Index.

Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in high-yield, below-investment grade bonds (sometimes called “junk bonds”) rated B (or its equivalent) denominated in U.S dollars of corporate issuers, either directly or indirectly (e.g., through derivatives).The Fund may also invest up to 20% of its net assets in certain futures, options and swap contracts, U.S. Treasury obligations, U.S. Government obligations, U.S. agency securities, securities of other registered investment companies, cash and cash equivalents, as well as in securities not included in its Index, but which BIM believes will help the Fund track its Index.

The Fund seeks to track the investment results of the Index before fees and expenses of the Fund.

The Index is sponsored by the Index Provider, which is independent of the Fund and BIM. The Index Provider determines the composition and relative weightings of the bonds in the Index and publishes information regarding the market value of the Index.

Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and tax-exempt securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. As of December 31, 2023, the Fund is not concentrated in any industry.

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XB - Performance

Return Ranking - Trailing

Period XB Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -39.9% 6.2% N/A
1 Yr 10.6% -22.1% 21.3% N/A
3 Yr N/A* -14.2% 66.8% N/A
5 Yr N/A* -13.6% 37.2% N/A
10 Yr N/A* -9.3% 16.2% N/A

* Annualized

Return Ranking - Calendar

Period XB Return Category Return Low Category Return High Rank in Category (%)
2023 4.2% -44.3% 3.7% N/A
2022 N/A -56.9% 9.2% N/A
2021 N/A -53.7% 70.9% N/A
2020 N/A -33.7% 5.1% N/A
2019 N/A -9.4% 12.0% N/A

Total Return Ranking - Trailing

Period XB Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -39.9% 6.2% N/A
1 Yr 10.6% -22.1% 22.2% N/A
3 Yr N/A* -14.2% 66.8% N/A
5 Yr N/A* -13.6% 37.2% N/A
10 Yr N/A* -9.3% 16.2% N/A

* Annualized

Total Return Ranking - Calendar

Period XB Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -44.3% 3.7% N/A
2022 N/A -56.9% 9.2% N/A
2021 N/A -53.7% 70.9% N/A
2020 N/A -33.7% 5.1% N/A
2019 N/A -9.4% 12.0% N/A

XB - Holdings

Concentration Analysis

XB Category Low Category High XB % Rank
Net Assets 13.8 M 1.47 M 26.2 B 96.89%
Number of Holdings 613 2 2736 24.34%
Net Assets in Top 10 882 K -492 M 2.55 B 96.18%
Weighting of Top 10 6.48% 3.0% 100.0% 89.56%

Top 10 Holdings

  1. MEDLINE BORROWER LP REGD 144A P/P 3.87500000 0.89%
  2. CLOUD SOFTWARE GRP INC REGD 144A P/P 6.50000000 0.84%
  3. HUB INTERNATIONAL LTD REGD 144A P/P 7.25000000 0.71%
  4. CARNIVAL CORP REGD 144A P/P 5.75000000 0.65%
  5. MAUSER PACKAGING SOLUT REGD 144A P/P 7.87500000 0.60%
  6. TENET HEALTHCARE CORP REGD 6.12500000 0.58%
  7. UNITI GROUP/CSL CAPITAL REGD 144A P/P 10.50000000 0.57%
  8. NEPTUNE BIDCO US INC REGD 144A P/P 9.29000000 0.55%
  9. UKG INC REGD 144A P/P 6.87500000 0.55%
  10. 1011778 BC / NEW RED FIN REGD 144A P/P 4.00000000 0.54%

Asset Allocation

Weighting Return Low Return High XB % Rank
Bonds
95.65% 0.00% 154.38% 8.39%
Cash
4.35% -52.00% 100.00% 85.53%
Stocks
0.00% -0.60% 52.82% 68.02%
Preferred Stocks
0.00% 0.00% 14.10% 43.16%
Other
0.00% -63.70% 32.06% 33.42%
Convertible Bonds
0.00% 0.00% 17.89% 57.11%

Bond Sector Breakdown

Weighting Return Low Return High XB % Rank
Derivative
0.00% 0.00% 45.95% 25.69%
Cash & Equivalents
0.00% 0.00% 99.98% 91.44%
Securitized
0.00% 0.00% 97.24% 43.48%
Corporate
0.00% 0.00% 100.00% 4.48%
Municipal
0.00% 0.00% 1.17% 7.91%
Government
0.00% 0.00% 99.07% 33.86%

Bond Geographic Breakdown

Weighting Return Low Return High XB % Rank
US
95.65% 0.00% 150.64% 19.08%
Non US
0.00% 0.00% 96.17% 41.84%

XB - Expenses

Operational Fees

XB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.02% 3.87% 94.13%
Management Fee 0.30% 0.00% 1.84% 5.81%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

XB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

XB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

XB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 327.00% N/A

XB - Distributions

Dividend Yield Analysis

XB Category Low Category High XB % Rank
Dividend Yield 7.26% 0.00% 39.36% 89.01%

Dividend Distribution Analysis

XB Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

XB Category Low Category High XB % Rank
Net Income Ratio N/A -2.39% 14.30% N/A

Capital Gain Distribution Analysis

XB Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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XB - Fund Manager Analysis

Managers

Elya Schwartzman


Start Date

Tenure

Tenure Rank

May 24, 2022

0.02

0.0%

Mr. Schwartzman is a co-founder of BIM. Prior to joining BIM in 2021, Mr. Schwartzman was the president & founder of ESIC LLC, a consulting firm specializing in fixed income ETF portfolio management, strategy, and infrastructure. From 2010 to 2019, Mr. Schwartzman was a director at BlackRock, Inc., where he oversaw a portfolio management team and was responsible for over $200 billion in ETFs and other global bond portfolios, while developing systems and technology for the ETF ecosystem. Mr. Schwartzman holds a US patent on a system for processing ETF custom baskets, developed during his time with BlackRock. He was a senior portfolio manager at State Street Global Advisors, where he guided the initial launch of fixed income ETFs and managed active high yield funds. Prior to joining SSgA in 1999, he was a high yield analyst and helped to launch the high yield department at Baring Asset Management. He received his MBA in quantitative finance from the Sloan School of Management (MIT).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.07 2.92