JP Morgan's Multi-Factor High Yield Bond ETF smartly silences the critics
The next iteration in the evolution of Fixed Income ETFs continues apace with the recent launch of JPMorgan's Global High Yield Corporate Bond Multi-Factor UCITS ETF, complete with ticker JGHY and an annual management fee of 0.35 per cent.
There has been a very positive reaction around this product as it is the first Fixed Income ETF that positions itself in the multi-factor camp. Fixed Income factors, I hear you say, what on earth are those? Well, it's a long story, but on many levels a simple story at that. To unearth its origins, though, one has to turn the clock back to the 1980s when the Global Financial Crisis of 2008 was a mere twinkle in Michael Milken's eye.