iShares Interest Rate Hedged High Yield Bond ETF
HYGH
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- iShares Interest Rate Hedged High Yield Bond ETF (HYGH) is an exchange-traded fund that seeks to track the BlackRock Interest Rate Hedged High Yield Bond Index, providing exposure to U.S. dollar-denominated high yield corporate bonds while mitigating interest rate risk through derivatives such as interest rate swaps. The fund's primary holdings include the iShares iBoxx $ High Yield Corporate Bond ETF (HYG), which comprises below-investment-grade corporate debt; cash collateral and short-term treasury securities for liquidity; and over-the-counter interest rate swaps for hedging, including positions like SWP: OIS series maturing between 2025 and 2032. It operates within the high yield bond segment of the fixed income market, targeting investors seeking income from junk bonds with reduced duration sensitivity to rising rates; the fund distributes monthly income and maintains a net expense ratio of 0.52% following fee waivers. Launched on May 27, 2014, by BlackRock, Inc., and domiciled in the United States as part of the iShares U.S. ETF Trust, HYGH is managed by BlackRock Fund Advisors with headquarters in San Francisco, California. The fund primarily serves U.S. institutional and retail investors through listings on NYSE Arca, with assets under management of approximately $445 million and global accessibility via major brokerages. In recent developments, HYGH declared a monthly distribution of $0.4509 per share in December 2025, reflecting a 30-day SEC yield of 5.78% amid sustained high yield market demand. The fund continues to employ representative sampling to mirror its benchmark, with no reported acquisitions, partnerships, or structural changes in 2024 or 2025; ongoing portfolio rebalancing incorporates current high yield issuers across sectors like energy, media, and finance.