Junk-Bond ETFs Bleed Most This Year as Growth Fear Roils Markets
- Investors pulled about $789 million from JNK, HYG on Tuesday
- China is weighing options in its deepening trade war with U.S.
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Investors are bailing from riskier strategies in exchange-traded funds as escalating trade tension between the U.S. and China added to concern over a global economic slowdown.
Traders yanked almost $429 million from State Street Corp.’s SPDR Bloomberg Barclays High Yield Bond fund, or JNK, on Tuesday, the biggest withdrawal since December, according to data compiled by Bloomberg. That lowered the fund’s assets by 4.8% to $8.54 billion, the lowest level since March 7. The fund has suffered net outflows of $1.23 billion in the past year.