Constrained Index (USD hedged) contains all securities in the BofA Merrill Lynch Global High Yield (USD hedged) Index, which tracks the performance of USD, CAD, GBP, and EUR denominated below
investment grade corporate debt publicly issued in the major domestic or Eurobond market, but caps issuer exposure at 2 %.
Franklin Liberty Canadian Investment Grade Corporate ETF (FLCI) seeks to provide long - term capital growth and current income by investing primarily
in investment grade corporate debt issued by Canadian corporations.
In the fixed income space, investors can look to the S&P International Corporate Bond Index to bolster the stability and diversity of their investments through exposure to
investment grade corporate debt outside the United States.
The index is designed to track the performance of euro - and British pound sterling - denominated
below investment grade corporate debt publicly issued in the eurobond, sterling domestic or euro domestic markets by issuers around the world.
IGHG follows the Citi Corporate Investment Grade (Treasury Rate - Hedged) Index, a U.S. dollar - denominated index that measures the performance
of investment grade corporate debt.
The rotation from long to short term is much more pronounced when it comes to funds dedicated to
investment grade corporate debt.
Given the introduction of several new ECB policies yesterday (expanded QE; purchases of nonfinancial,
investment grade corporate debt; new refinancing programs; incentives to reduce the impact of negative interest rates on banks and spur lending) we think the outlook for European credit and equities is quite constructive.
FAGIX's fixed income component primarily consists of below
investment grade corporate debt, as well as small allocations to bank debt.
The Bank of America Merrill Lynch U.S. High Yield Index tracks the performance of US dollar denominated below
investment grade corporate debt publicly issued in the US domestic market.