|
|
Post by retiredat48 on Oct 5, 2023 0:03:51 GMT
I plan to move sometime back into corporate bond funds. One candidate is BINC ETF. Watched Rick Rieder (I tend to like him) on CNBC (Sept 28) re this recent startup fund, now small in size, $155 million. Per M*, ytm is 7%; duration is 3 years (eff maturity 5 yrs); avg weighted price, 93; 25% AAA (mostly st treasury notes); avg BBB. 0.4% Expense Ratio. From CNBC: Since May inception, +1.23%, compared to HYG +1.21%; bond index negative -2.46% and us agg index, negative -2.97%.
Sectors (pulled from CNBC)
22% non US credit
20% US High Yield
13% CLO securities
11% US Investment Grade
9% Emerg Mkts.
8% Asset backed
7% comm. mortgages
9% other
------------------------------------------
OK bond vigilantes, anybody have info or thoughts on this fund?? Let's discuss.
Thanks...
R48
|
|
|
|
Post by yogibearbull on Oct 5, 2023 0:29:32 GMT
I am watching Pimco PYLD, ER 0.55%, AUM 123.4 million by Ivascyn, Murata, etc (the same team as for PONAX/PIMIX, PDI, PDO, PAXS).
|
|
|
|
Post by retiredat48 on Oct 5, 2023 2:18:17 GMT
Wow, PYLD fell out of bed fast from the start.
PYLD is highly LEVERAGED (BINC no leverage). Will watch both.
R48
|
|
|
|
Post by FD1000 on Oct 5, 2023 4:21:08 GMT
retiredat48 , After 10 years of intensive learning, trading and research...there is no great bond fund that does it all, especially not in special situations (2022 or even 2023). PIMIX used to be the one until AUM blew up and markets changed.
|
|
|
|
Post by habsui on Oct 5, 2023 5:48:13 GMT
That's why one needs more than 3 funds..
|
|
|
|
Post by Fearchar on Oct 5, 2023 12:14:11 GMT
Being on my phone, I am limited in how much research I can do.
If it has 3 or more years of performance, then I will evaluate it further.
If not, then need more time.
The last 3 years have been a good test.
Next 3 years will not be a repeat, but I do suspect bonds will in general do better than they have recently. At least bonds are no longer nonsense.
|
|
|
|
Post by Fearchar on Oct 5, 2023 12:22:47 GMT
Wait, now I see that this is a startup fund.
That is all I need to know.
|
|
|
|
Post by yogibearbull on Oct 5, 2023 12:39:49 GMT
Active core and core-plus bond funds have been around for several years.
But these active multisector bond funds are NEW, BlackRock BINC (05/2023- ), Pimco PYLD (06/2023- ). There is one from Capital Group too - CGMS (10/2022- ).
Vanguard is just catching up with multisector bond mutual fund, VMSIX/VMSAX (10/2021- ). Its next step down the road may be a multisector bond ETF too; its only active bond ETF now is ultra-ST bond VUSB.
|
|
|
|
Post by FD1000 on Oct 5, 2023 12:52:31 GMT
That's why one needs more than 3 funds.. Let's test this theory. Did 5 or 10 funds stopped 2022 collapse? Nope. Did 45 typical bond funds made a nice performance in 2023? Nope, 2 bank loans did. Is being diversified in stocks thru 5-10 funds (EM, SC, value + LC) made more than just the SPY since 2010? Nope. |
|
|
|
Post by retiredat48 on Oct 6, 2023 5:33:25 GMT
retiredat48 , After 10 years of intensive learning, trading and research...there is no great bond fund that does it all, especially not in special situations (2022 or even 2023). PIMIX used to be the one until AUM blew up and markets changed. I don't think I posted (or even inferred) I'm searching for one bond fund to do it all. I'm introducing/asking about a newer ETF, Blackrock's BINK. Unleveraged, small size, multisector, 3 yr duration, 7% yield. R48 |
|
