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The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the ICE BofA U.S. High Yield Total Return Index (the Underlying Index), which is capitalization weighted based on an issuer's current market value of debt outstanding and is designed to measure the performance of U.S. dollar denominated below investment grade (commonly referred to as "junk") corporate debt publicly issued in the U.S. domestic market. To be included in the Underlying Index, securities must be rated below investment grade (based on an average of Moody's, S&P, and Fitch ratings), have at least 18 months to final maturity at time of issuance, at least one year remaining term to final maturity as of rebalance date, a fixed coupon schedule and a minimum amount outstanding of $250 million. Securities must have risk exposure to countries that are members of the FX-G10, Western Europe or territories of the US and Western Europe. Securities that are original issue zero coupon bonds, 144A securities, pay-in-kind securities, callable perpetual securities (provided they are at least one year from the first call date), and fixed-to-floating (provided they are callable within the fixed rate period and at least one year from last call prior to transition date) are also eligible for inclusion in the index. As of December 31, 2022 the effective duration of the Underlying Index was 4.04 years.
JPMorgan Betabuilders USD High Yield Corporate Bond ETF trades on the BATS stock market under the symbol BBHY.
As of March 28, 2024, BBHY stock price declined to $46.19 with 106,275 million shares trading.
BBHY has a beta of 0.42, meaning it tends to be less sensitive to market movements. BBHY has a correlation of 0.60 to the broad based SPY ETF.
BBHY has a market cap of $900.70 million. This is considered a Small Cap stock.
BBHY has underperformed the market in the last year with a price return of +12.7% while the SPY ETF gained +33.6%. BBHY has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +1.6% and +0.4%, respectively, while the SPY returned +10.1% and +1.7%, respectively.
BBHY support price is $46.10 and resistance is $46.38 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BBHY stock will trade within this expected range on the day.