Pimcos 0-5 Year High Yield Corporate Bond ETF reported $204.1 million of inflows on April 8, the same day the SPDR Barclays High Yield Bond ETF recorded its second-biggest daily redemption since its inception more than five years ago, equal to about $378 million worth of shares,Bloomberg reports.
Pimcos ETF has amassed $1.63 billion of net assets since its June 2011 inception, according to data on Pimcos website. The fund bets on debt thats less sensitive to rising interest rates, with high-yield bonds that mature in five or fewer years poised to outperform dollar- denominated notes on average for the first time since 2008.
The biggest withdrawal from State Streets fund, which trades under the ticker JNK, happened in May 2012, when an investor used the fund to anonymously obtain almost $780 million of speculative-grade bonds without moving prices in the secondary market, according to Bloomberg.
The investor on May 10 exchanged as much as 19.7 million shares in State Streets ETF for the equivalent of about $779.3 million in bonds held by the fund, Bloomberg data show.
Investors withdrew 9.25 million shares from the SPDR Barclays High Yield Bond ETF, according to data reported on April 8 compiled by Bloomberg. The funds share price has declined 0.44% this month, while the average price on the Bank of America Merrill Lynch U.S. High Yield index rose 0.04%.