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| BUY | 20.440 | Hank Cunningham | Advantage High Yield Bond ETF. Likes this quite a lot. Default rates on junk bonds have fallen substantially. This gives you a big, diversified portfolio. There are over 400 bonds in this one and reaching across the entire spectrum of this economy. Yield is going to be close to 8% and you might get as much as 10% this year. | 2012-01-30 | |
| TOP PICK | 20.360 | David Cockfield | High yield corporate bond ETF. Yield is close to 7%. Lots of diversification. If interest rates look like they are starting to go up, you exit quickly. | 2012-01-20 | |
| Comment | 19.560 | Randy LeClair | High Yield Bond ETF. Danger here is where people load up (like 100%) in high yield. This is a great way to play the high yield market. 2 big risks. 1) They are passive, so you are not getting a manager to pick out the better credits. 2) Not really developed in Canada so they have to go to the US for them and you could lose on currency. | 2011-12-07 | |
| BUY | 20.860 | Joey Mack | High yield (US) bond index. About 7%. It pays you return of capital. You get a much better after tax rate of return. | 2011-06-06 | |
| DON'T BUY | 21.140 | Mike MacBain | High Yield Bond ETF. High Yield Bonds are the least correlated of all interest rate products to the actual interest rate market. They are with the less liquid and more volatile companies. Historically, the spreads with these have really come in. High yield bonds are more expensive than they were in pre-prices in 2007. | 2011-04-12 | |
| WEAK BUY | 20.800 | Mark Carpani | Not a bad sector. A good place to be instead of cash or GICs | 2011-01-10 | |
| BUY | 20.230 | Terry Shaunessy | High Yield Bond ETF. Likes this one. Owns it in taxable accounts because it’s tax advantaged. | 2010-09-14 | |
| TOP PICK | 19.870 | Joey Mack | High Yield Bond ETF. Unique structured product in that it returns because it is a total return swap in an underlying portfolio. Returns are either return of capital or capital gain, which is more tax efficient. | 2010-08-12 | |
| BUY | 19.390 | Joey Mack | High Yield Bond ETF. Diversification reduces risk of holding low-investment-grade bonds. Gives full exposure to high yields as an asset class. Higher asset class has performed very well over the last decade. Prefers Canadian hedged versions over US ones because of currency changes, especially in RRSPs. | 2010-06-25 | |
| DON'T BUY | 19.020 | John Hood | Junk bonds, lower credit rating. Never been strongly in favour of these because of the credit risk involved, but it’s a question of degree of risk. | 2010-06-08 | |
| BUY | 19.060 | Philip Doyle | US high yield bonds traded in Canadian dollars. Hybrid between bonds and equities. You have to be prepared to ride with the volatility. There is credit risk. Structured to pay dividends as capital or return of capital, unlike XHY. | 2010-05-31 | |
| BUY | 19.560 | Terry Shaunessy | High Yield Bond ETF. Uses a forward so that payments you get, instead of being taxed as interest, are taxed as capital gains. Gets you around the US withholding tax. Good for a taxable account. (Pays out a little bit more than the underlying yield, meaning the payouts could go down a little in the future.) | 2010-05-11 | |
| Comment | 20.150 | John Hood | High Yield Bond ETF. When dealing with high yield bonds, they are lower quality bonds. Also duration on this portfolio is more mid-term rather than short-term. If there is an increase in rates it will be negatively affected. Returns are in the form of capital rather than interest, which makes it more attractive. | 2010-04-09 | |
| Comment | 19.980 | Randy LeClair | High-yield bond ETF. Have to be careful how much high yield is in your portfolio. Did very well last year and into this year and probably more to come. Below investment grade giving riskier holdings. This ETF is linked to an index and the duration is not long, about 5 years. | 2010-03-29 | |
| DON'T BUY | 19.510 | John Hood | Problem with it is that anything that says high yield means junk. Prefers not to have that for long term retirement planning. It’s a structured financial product. Risks of default, counter party risk and a taxation risk. | 2010-03-04 | |
| N/A | 19.520 | Hank Cunningham | High yield bond fund. He has not looked at it yet in detail. Currency hedge is important. Prefers the iShares product. | 2010-02-25 | |
| TOP PICK | 19.720 | Christine Horoyski | This is down the risk spectrum so you get paid for taking on the risk (8-9%). This has a shorter term to maturity. They do not withhold tax. It’s an attractive asset space. | 2010-02-22 | |
| BUY | 19.600 | John DeGoey | High yield bonds. Yield spreads have tightened compared to a year ago. We are at a point where all bonds have risk. By going into high yield, you take on extra risk. You are diversified in case a company in the fund defaults on payments. | 2010-02-19 | |
| Comment | 19.810 | John Hood | When talking high yield bonds, you're really talking junk bonds so it’s high yield combined with high risk. Wouldn't go into this with his own clients but if you want this he would recommend this one as it is hedged for the Cdn$ but duration is about 5 years so will be vulnerable to any upward movement in interest rates. | 2010-01-25 |
