Exchange-traded products have been marketed as liquid, transparent investments, offering trading ease at relatively low cost to investors. While that is true in normally functioning markets, such products were running far from smoothly during the market panic...
As investors unload shares and prices tumble, yields on muni bond funds soar to new heights.
Investors can see the differences between closed-end funds and ETFs quite clearly after just four days of trading as discounts arbitraged away.
Add the bond discounts to the growing list of ETF debacles in the current market volatility.
Murray Coleman's article paints an ugly picture of how fixed-income ETFs are functioning right now.
Across the board, bond ETFs are trading like closed-end funds. But not everyone is willing to make the same connections between markets.
BGI's Matthew Tucker breaks down how yields and spreads are reacting across asset classes.
September was a disaster for the stock market in general, but not necessarily ETFs.