Biggest Junk Bond ETF Sheds Over $3 Billion as Bears Double Down
- HYG on track for worst year of outflows with the exodus so far
- ‘Double whammy’ is eroding high-yield debt’s appeal: Mizuho
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The biggest bout of bearishness in high-yield bonds since the global financial crisis is showing up in one gigantic exchange-traded fund.
Investors have yanked more than $3 billion from the $14 billion iShares iBoxx High Yield Corporate Bond ETF (ticker HYG) over 7 straight days, the longest streak of outflows since September 2020, according to Bloomberg data. Nearly $6.6 billion has exited HYG so far in 2022, putting the fund on track for its worst year ever.