iShares unveils euro high yield ETF

The iShares Markit iBoxx Euro High Yield fund is a diversified vehicle, tracking nearly 100 of the most liquid, sub-investment grade corporate bonds. The underlying Markit iBoxx Euro Liquid High Yield index uses multiple pricing sources and is based on an average of the ratings assigned to each debt instrument, by Fitch, Standard & Poor's and Moody's, to determine which bonds are included. Around two-thirds of the bonds in the index are BB-rated, with 5% allocated to CCC-rated bonds. Almost half of the index weighting comprises consumer goods, industrials and basic materials, while...