Bond funds

The $10.1 billion fund’s star manager, well known for his contrarian investments, held on to a short position against U.S. Treasurys even as bonds rallied.

Data reported by the Investment Company Institute.

More than $1 trillion is invested in bond ETFs, with trading leaping 41% in 2018 from a year earlier, according to research.

The five-month-old fund from Tabula Investment Management just became one of the largest of its kind after taking in $68 million last week.

The underperformance is a rarity for the fund, which has beaten the benchmark for nine of the past 10 years.

Nearly all bested the broader market at roughly a third the price of the average fixed income product.

Data reported by the Investment Company Institute.

Some of the same features that led to their unpopularity may also be what uncorrelated them from their peers, an expert says.

While bond investor anxiety previously focused on how the funds respond to abrupt withdrawals, skeptics are now homing in on secondary trading.

Fixed-income products designed to minimize interest rate risk are among the leaders.