A $10 Billion ETF Is Smashing Records Amid the Junk-Bond Binge
- BlackRock’s Europe high-yield fund enjoys highest inflow ever
- Mounting pile of global negative-yielding debt boosting trend
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As negative yields engulf everything from Brazil’s state oil company to Hungarian sovereign debt to euro junk, investors are seeking refuge in high-yield bond ETFs.
Europe-listed funds have attracted over 5 billion euros ($5.6 billion) since January, more than in any full year going back to at least 2010, according to data compiled by Bloomberg Intelligence. The largest exchange-traded fund tracking the debt -- BlackRock Inc.’s 8.5 billion-euro IHYG -- took in 640 million euros in the week ended July 5, smashing a record it set just two weeks before, the data show.