An ETF's risk-adjusted return includes a brokerage commission estimate. Shareholder Supplemental Tax Information. WAM is calculated by weighting each bond's time to maturity by the size of the holding.
Chart is updated nightly to reflect the more recent of the previous day's market closing price or the closing price on the day the fund was last traded. Data is delayed at least 15 minutes. Learn More about considerations for geared investing.
The figure reflects dividends and interest earned by the securities held by the fund during the most recent day period, net the fund's expenses. Duration is a measurement of how long, in years, it takes for the price of a bond to be repaid by its internal cash flows.
Modified duration accounts for changing interest rates. It measures the sensitivity of the value of a bond or bond portfolio to a change in interest rates. Higher duration means greater sensitivity. The weighted average maturity WAM of a portfolio is the average time, in years, it takes for the bonds in a bond fund or portfolio to mature. WAM is calculated by weighting each bond's time to maturity by the size of the holding. Portfolios with longer WAMs are generally more sensitive to changes in interest rates.
Yield to maturity YTM is the annual rate of return paid on a bond if it is held until the maturity date.
Weighted average yield to maturity represents an average of the YTM of each of the bonds held in a bond fund or portfolio, weighted by the relative size of each bond in the portfolio. A coupon is the interest rate paid out on a bond on an annual basis. The weighted average coupon of a bond fund is arrived at by weighting the coupon of each bond by its relative size in the portfolio.
Weighted average price WAP is computed for most bond funds by weighting the price of each bond by its relative size in the portfolio. This statistic is expressed as a percentage of par face value. The price shown here is "clean," meaning it does not reflect accrued interest.
Monthly volatility refers to annualized standard deviation, a statistical measure that captures the variation of returns from their mean and that is often used to quantify the risk of a fund or index over a specific time period. The higher the volatility, the more the returns fluctuate over time. Absolute return strategies seek to provide positive returns in a wide variety of market conditions.
These strategies employ investment techniques that go beyond conventional long-only investing, including leverage, short selling, futures, options, etc. Arbitrage refers to the simultaneous purchase and sale of an asset in order to profit from a difference in the price of identical or similar financial instruments, on different markets or in different forms.
For example, convertible arbitrage looks for price differences among linked securities, like stocks and convertible bonds of the same company. Merger arbitrage involves investing in securities of companies that are the subject of some form of corporate transaction, including acquisition or merger proposals and leveraged buyouts.
Commodity refers to a basic good used in commerce that is interchangeable with other goods of the same type. Examples include oil, grain and livestock.
Correlation is a statistical measure of how two variables relate to each other. Two different investments with a correlation of 1. The higher the correlation, the lower the diversifying effect. Currency refers to a generally accepted medium of exchange, such as the dollar, the euro, the yen, the Swiss franc, etc.
Market neutral is a strategy that involves attempting to remove all directional market risk by being equally long and short. Futures refers to a financial contract obligating the buyer to purchase an asset or the seller to sell an asset , such as a physical commodity or a financial instrument, at a predetermined future date and price.
Global macro strategies aim to profit from changes in global economies that are typically brought about by shifts in government policy, which impact interest rates and in turn affect currency, bond and stock markets. Hedge funds invest in a diverse range of markets and securities, using a wide variety of techniques and strategies, all intended to reduce risk while focusing on absolute rather than relative returns.
Leverage refers to using borrowed funds to make an investment. Investors use leverage when they believe the return of an investment will exceed the cost of borrowed funds.
Leverage can increase the potential for higher returns, but can also increase the risk of loss. Managed futures involves taking long and short positions in futures and options in the global commodity, interest rate, equity, and currency markets.
Precious metals refer to gold, silver, platinum and palladium. Private equity consists of equity securities in operating companies that are not publicly traded on a stock exchange. Real estate refers to land plus anything permanently fixed to it, including buildings, sheds and other items attached to the structure.
Short selling or "shorting" involves selling an asset before it's bought. Typically, an investor borrows shares, immediately sells them, and later buys them back to return to the lender. Volatility is the relative rate at which the price of a security or benchmark moves up and down. Volatility is also an asset class that can be traded in the futures markets.
Tradable volatility is based on implied volatility , which is a measure of what the market expects the volatility of a security's price to be in the future. Geared investing refers to leveraged or inverse investing.
CSM rated 5 stars for the 3-year period ending March 31, among 99 U. The information contained herein: Bond market indexing Indexing Indexing overview Indexing: Ferri, All About Index Funds ; p. Aggregate Factsheet , ; Bloomberg Barclays U. S Aggregate Factsheet , Retrieved from " https: Navigation menu Personal tools Log in. Views Read View source View history. Interaction Recent changes Getting started Editor's reference Sandbox.
This page was last edited on 25 October , at Click for complete Disclaimer. Milestones in the Evolution of the Bloomberg Barclays U. Published yields changed from yield to maturity to yield to worst. Yankee sector absorbed into the Corporate Index. Title XI issues dropped from the Government Index. Asset-backed bullet issues added to the finance sector. Balloon issues added to MBS Index.
Mobile homes dropped from MBS Index. Average coupons par-weighted instead of market-weighted. Quarter-coupons dropped from MBS Index.