Exchange Traded Concepts has launched the YieldShares High Income ETF, the most recent exchange-traded fund to begin trading through the firm’s accelerated, low-cost, private-label ETF platform.
The YieldShares High Income ETF will seek to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ISE High Income Index. The High Income Index seeks to measure the performance of the top 30 US exchange-listed closed-end funds (CEFs), as selected and ranked according to factors designed to result in a portfolio that produces high current income.
"YieldShares High Income ETF seeks to capture two potential benefits of investing in secondary closed-end fund investing: high income and the ability to buy certain funds below their net asset value," says Christian Magoon (pictured), chief executive and founder of YieldShares. "I believe those potential benefits combine nicely with the ETF structure which generally trade at or near NAV."
"ETC is excited to continue our long-standing relationship with Christian. We have worked closely with Christian over the last few years and are proud to be partners with him on his new YieldShares family of funds. We believe that investors will continue to look for new ways to get quality yield and that the YieldShares High Income ETF will be a great place for them to get that," says J Garrett Stevens, chief executive of Exchange Traded Concepts.