BMO HighYield Corp Bond US Hedge to CAD ETF (ZHY-T) Stock Predictions - Stockchase
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BMO HighYield Corp Bond US Hedge to CAD ETF (ZHY-T)

ON STOCKCHASE SINCE Jan 2011

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BMO HighYield Corp Bond U...

ZHY-T

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BMO HighYield Corp Bond US Hedge to CAD ETF (ZHY-T) SAVE Mar, 25, 2019, 11:22 pm

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DON'T BUY
ZJK-T vs. ZHY-T. High yield is a sexy name for junk bonds. They are the worst quality bonds. In a downturn these companies will not be able to pay back their bond holders first. If equities fall 20%, high yield bonds fall 13%. There is more risk for a portfolio.
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ZJK-T vs. ZHY-T. High yield is a sexy name for junk bonds. They are the worst quality bonds. In a downturn these companies will not be able to pay back their bond holders first. If equities fall 20%, high yield bonds fall 13%. There is more risk for a portfolio.
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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$13.280
Owned Owned
Unknown

COMMENT

Which fund would you recommend for high-yield bonds? You are always dealing with US bonds in this. He would probably look at the ZHY as well as the XHY. You have to remember that you are not getting the same premium for high-yield that you used to. He would rather buy a Covered Call. He is not a big fan of high-yield stuff.

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Which fund would you recommend for high-yield bonds? You are always dealing with US bonds in this. He would probably look at the ZHY as well as the XHY. You have to remember that you are not getting the same premium for high-yield that you used to. He would rather buy a Covered Call. He is not a big fan of high-yield stuff.

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John Hood

President , J. C Hood Investment...

Price Price
$14.310
Owned Owned
Unknown

DON'T BUY

ZEF-T vs. ZHY-T.  The question is credit risk.  You have emerging market risk with ZEF-T and so you get extra yield.  When you do the correlation of the higher yield, they trade more like an equity than a bond.  ZEF-T is an equity type risk, where as ZHY-T is more like fixed income.  He does not think it is the time to step into either of these.

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ZEF-T vs. ZHY-T.  The question is credit risk.  You have emerging market risk with ZEF-T and so you get extra yield.  When you do the correlation of the higher yield, they trade more like an equity than a bond.  ZEF-T is an equity type risk, where as ZHY-T is more like fixed income.  He does not think it is the time to step into either of these.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$14.660
Owned Owned
Unknown

SELL

Don’t invest in it because it is ‘high yield’.  You are investing in the worst companies that have not defaulted yet.  There is more risk in these bonds.  When the economy turns down, these companies will struggle.  It will trade like equities.  He thinks markets are much closer to a top than a bottom.

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Don’t invest in it because it is ‘high yield’.  You are investing in the worst companies that have not defaulted yet.  There is more risk in these bonds.  When the economy turns down, these companies will struggle.  It will trade like equities.  He thinks markets are much closer to a top than a bottom.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$14.470
Owned Owned
No

COMMENT

Probably a good way to get exposure to the high-yield market, because it is extremely opaque. He currently has around a 10% weight in high-yield debt in his private client portfolios. High-yield in general has a strong risk adjusted return over a 5, 10, 20 year timeframe as an asset class.

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Probably a good way to get exposure to the high-yield market, because it is extremely opaque. He currently has around a 10% weight in high-yield debt in his private client portfolios. High-yield in general has a strong risk adjusted return over a 5, 10, 20 year timeframe as an asset class.

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Paul Tepsich

Portfolio , High Rock Capital Ma...

Price Price
$13.860
Owned Owned
Unknown

COMMENT

On the return on high-yield bonds, which he doesn’t like very much, you have to evaluate them as you would an equity as opposed to a bond. This is because of the default risks.

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On the return on high-yield bonds, which he doesn’t like very much, you have to evaluate them as you would an equity as opposed to a bond. This is because of the default risks.

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John Hood

President , J. C Hood Investment...

Price Price
$14.340
Owned Owned
Unknown

WATCH

High yield bonds with a currency hedge.  He has no exposure right now.  It is a nice yield, but with 20% of US fracking business in the high yield index, he stays out. He thinks this will re-test the levels from last year and that would be an okay time to step into it.

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High yield bonds with a currency hedge.  He has no exposure right now.  It is a nice yield, but with 20% of US fracking business in the high yield index, he stays out. He thinks this will re-test the levels from last year and that would be an okay time to step into it.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$15.750
Owned Owned
No

COMMENT

Like all high-yield markets, this is not about price appreciation, which is why this has probably traded sideways. However, while it has been trading sideways, it has been paying you about a 6% yield. This is an income strategy. 6% is a pretty good return compared to what the bond market has done in the last 5 years.

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Like all high-yield markets, this is not about price appreciation, which is why this has probably traded sideways. However, while it has been trading sideways, it has been paying you about a 6% yield. This is an income strategy. 6% is a pretty good return compared to what the bond market has done in the last 5 years.

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Joey Mack

Director, , ScotiaCapital...

Price Price
$15.300
Owned Owned
Unknown

COMMENT

BMO US High Dividend Covered Call (ZWH-T) or BMO High Yield Corp Bond US Hedge to Cdn (ZHY-T)? Corporate bonds are probably going to be riskier than covered calls. Covered calls gives you the guaranteed income and are more stable with regards to the underlying investments. The corporations are going to be giving a higher return if the market remains benign, but you are taking a risk in case we have a hike or there's a credit crunch with regards to those corporations. You don't need the hedging these days because the Cdn$ is, if anything, dropping. If you could get it with an un-hedged version, it would be better still. If he really had to choose, he would select the Covered Call.

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BMO US High Dividend Covered Call (ZWH-T) or BMO High Yield Corp Bond US Hedge to Cdn (ZHY-T)? Corporate bonds are probably going to be riskier than covered calls. Covered calls gives you the guaranteed income and are more stable with regards to the underlying investments. The corporations are going to be giving a higher return if the market remains benign, but you are taking a risk in case we have a hike or there's a credit crunch with regards to those corporations. You don't need the hedging these days because the Cdn$ is, if anything, dropping. If you could get it with an un-hedged version, it would be better still. If he really had to choose, he would select the Covered Call.

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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$15.750
Owned Owned
Unknown

COMMENT

BMO US High Dividend (ZWH-T) or BMO High Yield Corp Bond US Hedge to CAD (ZHY-T)? He would grudgingly prefer the ZWH, but he really doesn’t like any products that are traditional income interest rate sensitive.

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BMO US High Dividend (ZWH-T) or BMO High Yield Corp Bond US Hedge to CAD (ZHY-T)? He would grudgingly prefer the ZWH, but he really doesn’t like any products that are traditional income interest rate sensitive.

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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$16.270
Owned Owned
Unknown

HOLD

This is a high yield fund so rising interest rates are not going to impact it that much. High yields are much more correlated to equity market performance than it is to bond market performance. This one should do okay. 6.3% yield.

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This is a high yield fund so rising interest rates are not going to impact it that much. High yields are much more correlated to equity market performance than it is to bond market performance. This one should do okay. 6.3% yield.

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Joey Mack

Director, , ScotiaCapital...

Price Price
$15.940
Owned Owned
Unknown

BUY

This is high-yield bonds in the US and if you are going to be buying high-yield bonds, this is one that he likes a great deal. As a small portion of your portfolio, he thinks it makes sense to use them.

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This is high-yield bonds in the US and if you are going to be buying high-yield bonds, this is one that he likes a great deal. As a small portion of your portfolio, he thinks it makes sense to use them.

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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$16.150
Owned Owned
Unknown

BUY

He is looking increasingly at high-yield and getting away from nominal bonds because the risk/return is a favourable trade-off. Feels that corporations are at least as creditworthy as the governments are and they are paying you a bit more.

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He is looking increasingly at high-yield and getting away from nominal bonds because the risk/return is a favourable trade-off. Feels that corporations are at least as creditworthy as the governments are and they are paying you a bit more.

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John DeGoey

Portfolio , Industrial Alliance ...

Price Price
$15.990
Owned Owned
Unknown

COMMENT

If it is part of your bond mix then you should think again. This is part of your equity portfolio. US economy is still weak and has higher than average bankruptcy rates. This ETF will do badly if there is another financial crisis. You might want to go to higher quality companies and dividends.

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If it is part of your bond mix then you should think again. This is part of your equity portfolio. US economy is still weak and has higher than average bankruptcy rates. This ETF will do badly if there is another financial crisis. You might want to go to higher quality companies and dividends.

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Vikash Jain, CF

Portfolio , ArcherETF...

Price Price
$15.930
Owned Owned
Unknown

BUY

High yield is still a good play in the current market. Price gains are done and it will yield 5.5-6%, which is still attractive. High yield gives you more asset diversification than others.

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High yield is still a good play in the current market. Price gains are done and it will yield 5.5-6%, which is still attractive. High yield gives you more asset diversification than others.

E.T.F.'s
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Joey Mack

Director, , ScotiaCapital...

Price Price
$15.970
Owned Owned
Unknown

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