While still relatively nascent and small, the fixed income exchange-trade fund (ETF) space has been one of the fastest growing markets since the financial crisis, growing from $20 billion in assets in 2006 to over $450 billion globally today.
But the pricing and analysis of these products remains challenging when compared to their equity ETF brethren because a high-yield bond ETF could comprise hundreds of underlying cusips and most of those stocks will not trade on a daily basis.
A group of maj
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