iShares Currency Hedged Global ex USD High Yield gives ticker symbol

By Toni Weeks

San Luis Obispo, Calif., July 29 – iShares Trust released the ticker symbol for its upcoming new iShares Currency Hedged Global ex USD High Yield Bond ETF in a 497K filing with the Securities and Exchange Commission.

The fund will trade on the NYSE Arca under the symbol “HHYX.”

As previously reported, the new exchange-traded fund will seek to track the investment results of an index composed of euro-, British pound sterling- and Canadian dollar-denominated high-yield corporate bonds while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar.

The benchmark index will be the Markit iBoxx Global Developed Markets ex-US High Yield (USD Hedged) index, which is a rules-based index consisting of high-yield corporate bonds that are denominated in euros, British pounds sterling and Canadian dollars, with the currency risk of the securities included in the underlying index hedged to the U.S. dollar on a monthly basis.

The index is designed to provide a broad representation of the global ex-U.S. dollar high-yield corporate bond market based on developed market issuers. The maturities of the securities in the index range from one to 15 years.

At inception, the fund intends to seek to achieve its investment objective by investing a substantial portion of its assets in an underlying fund, the iShares Global ex USD High Yield Corporate Bond ETF.

The fund generally will invest at least 90% of its assets in the component securities, including indirect investments through the underlying fund, and other instruments of the underlying index and may invest up to 10% of its assets in some futures, options and swap contracts, cash and cash equivalents, or in securities not included in the underlying index.

James Mauro, Orlando Montalvo and Scott Radell will be the portfolio managers.

Including management fees of 0.58%, and taking into account the effects of a fee waiver agreement with the investment adviser, total annual fund operating expenses are expected to be 0.43%.

BlackRock Fund Advisors will be the investment adviser.

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