FIYYBarclays ETN+ FI Enhanced Global High Yield ETN Series B
FIYY Fund Description
FIYY provides roughly 2x levered exposure to an index of developed-market large- and mid-cap stocks with screens for consistently higher-than-average dividend yields.
FIYY Factset Analytics Insight
FIYY provides leveraged exposure to the MSCI World High Dividend Yield Index, an index of global large- and mid-cap stocks with high dividends, screened for sustainability. The note launched with a 2x leverage factor, and unlike most daily reset products, leverage is reset on a quarterly basis or when the effective leverage falls below 1.6x. FIYY employs an opaque formula for calculating indicative value and fees: the headline expense ratio includes a flat fee plus 3-month Libor, and is affected by changes in index levels too. FIYY was likely created for asset manager Fisher Investments, which might hold most of the notes outstanding. Such products may show large AUM without the typical accompanying trading volume. The notes are unadvertised—lacking even a website—because they aren’t intended for independent investors.
FIYY CHARTS AND PERFORMANCE
FIYY Portfolio Data
FIYY Index Data
FIYY Fund Structure
FIYY Tax Exposures
FIYY Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of FIYY. FIYY is rated a N/A out of 5.