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Last Thursday, I wrote a post about the highest ETF dividends (measured by dividend yield). I was expecting to see many of the higher yields come from bond ETF’s. Why? Because usually bond funds are seen as fixed income ETF’s and generally investors that are buying wish to receive steady income flows. Diversification is certainly a reason to buy bonds but so is getting a steady flow of income.
It came as a bit of a surprise to see that in fact many of the Top Dividend ETF’s were not fixed income. So I decided to take a closer look at bond ETF’s (and deeper look than what I did 3 weeks ago) to see what type of dividend yield they are offering and how well they have been doing in the past year. So what I did is find all of the bond/fixed income ETF’s that are active on US markets (let me know if I missed one). They are ranked by market cap in the table below.
Here are some of my conclusions:
-While there are many new bond ETF’s, I’m surprised to hear how little variety of corporate bond ETF exists. There are many many type of government and municipal bond, by duration, protected against inflation and more. But not that much variety in corporate bonds.
-While there are a few international bond ETF’s, there is little variety once again. I would expect this to change in the coming months.
-A few bond ETF’s do not offer dividends. This might actually be a tendency for some as ETF’s can convert income gains from the bond into capital gains through the structure of the actual ETF. This makes it easier for investors to postpone paying taxes among other things. It really depends on each individual investors but when holding it for several years, this can make a difference.
Ticker Name Market Cap (M) Price Fees Return YTD 1Y Return Dividend Yield
TIP iShares Barclays TIPS Bond Fund 19942 103.49 0.2 -0.319 5.448 4.11
LQD iShares iBoxx Investment Grade Corporate Bond Fund 12270 105.75 0.15 2.096 20.275 5.34
AGG iShares Barclays Aggregate Bond Fund 11400 104.22 0.2 1.463 7.913 3.81
BND Vanguard Total Bond Market ETF 7170 79.14 0.11 1.095 7.335 3.89
CSJ iShares Barclays 1-3 Year Credit Bond Fund 5941 104.45 0.2 0.852 10.197 3.5
HYG iShares iBoxx $ High Yield Corporate Bond Fund 5137 88.63 0.5 2.471 40.712 9.22
TBT ProShares UltraShort 20+ Year Treasury 4665 49.24 0.95 -0.541 7.591 0
BSV Vanguard Short-Term Bond ETF 4372 79.97 0.11 0.852 4.783 2.62
JNK SPDR Barclays Capital High Yield Bond ETF 4270 39.65 0.4 4.121 53.161 11.68
PFF iShares S&P US Preferred Stock Index Fund 4040 39 0.48 7.368 87.035 7.36
IEF iShares Barclays 7-10 Year Treasury Bond Fund 2686 89.33 0.15 1.193 -3.326 3.4
TLT iShares Barclays 20+ Year Treasury Bond Fund 2232 88.95 0.15 -0.658 -10.122 4.15
CIU iShares Barclays Intermediate Credit Bond Fund 2410 103.94 0.2 1.735 16.785 4.63
SHV iShares Barclays Short Treasury Bond Fund 3394 110.18 0.15 0.009 0.19 0.26
MBB iShares Barclays MBS Bond Fund 1758 107.26 0.25 1.721 5.169 3.61
BIV Vanguard Intermediate-Term Bond ETF 1411 80.17 0.11 1.815 10.378 4.32
EMB iShares JPMorgan USD Emerging Markets Bond Fund 1271 104.1 0.6 3.312 28.916 5.49
SHM SPDR Barclays Capital Short Term Municipal Bond ETF 1088 23.97 0.2 -0.006 2.986 1.93
WIP SPDR DB Intl Government Inflation-Protected Bond ETF 988 54.61 0.5 -2.578 16.911 0.9
IEI iShares Barclays 3-7 Year Treasury Bond Fund 909 110.94 0.15 0.94 0.229 2.34
BIL SPDR Barclays Capital 1-3 Month T-Bill ETF 826 45.86 0.14 -0.022 -0.003 0.05
TFI SPDR Barclays Capital Municipal Bond ETF 861 22.76 0.2 0.838 8.19 3.74
CFT iShares Barclays Credit Bond Fund 573 102.27 0.2 2.36 18.996 4.85
PZA PowerShares Insured National Municipal Bond Portfolio 504 23.67 0.28 0.998 13.787 4.78
GVI iShares Barclays Intermediate Govt/Credit Bond Fund 445 106.14 0.2 1.031 6.028 3.19
PST ProShares UltraShort Lehman 7-10 Year Treasury 408 51.79 0.95 -3.504 -1.755 0
TBF ProShares Short 20+ Year Treasury 407 50.21 0.95 -0.277 #N/A N/A 0
IPE SPDR Barclays Capital TIPS ETF 368 51.0312 0.19 -0.265 5.156 2.06
BLV Vanguard Long-Term Bond ETF 329 76.5299 0.11 1.144 10.709 5.18
SUB iShares Short Term Natl AMT-Free Municipal Bond Fund 316 105.1938 0.25 0.293 2.57 1.39
AGZ iShares Barclays Agency Bond Fund 303 108.14 0.2 0.788 2.554 1.87
TLH iShares Barclays 10-20 Year Treasury Bond Fund 247 107.31 0.15 1.128 -3.973 3.84
CWB SPDR Barclays Capital Convertible Bond ETF 292 39.23 0.4 4.723 #N/A N/A 3.98
LAG SPDR Barclays Capital Aggregate Bond ETF 215 55.03 0.13 1.103 6.702 3.4
STPZ PIMCO 1-5 Year US TIPS Index Fund 418 51.55 0.2 0.364 #N/A N/A 0.78
CMF iShares S&P California AMT-Free Municipal Bond Fund 212 106.0001 0.25 1.141 5.577 3.8
PHB PowerShares High Yield Corporate Bond Portfolio 207 18.06 0.5 2.356 34.532 8.58
VCSH Vanguard Short-Term Corporate Bond ETF 228 76.2 0.15 1.426 #N/A N/A 0.56
GBF iShares Barclays Government/Credit Bond Fund 158 105.51 0.2 0.906 7.337 3.44
TUZ PIMCO 1-3 Year U.S. Treasury Index Fund 91 50.27 0.09 0.45 #N/A N/A 0.63
HYD Market Vectors High Yield Municipal Index ETF 157 30.74 0.35 2.397 24.16 6.03
ITM Market Vectors Intermediate Municipal ETF 139 21.39 0.24 0.931 8.301 3.55
ISHG iShares 1-3 Year International Treasury Bond Fund 120 100.33 0.35 -4.339 2.48 1.3
BAB PowerShares Build America Bond Portfolio 216 24.86 0.35 3.696 #N/A N/A 1.54
VCIT Vanguard Intermediate-Term Corporate Bond ETF 122 76.4 0.15 2.326 #N/A N/A 1.1
PLW PowerShares 1-30 Laddered Treasury Portfolio 73 26.5578 0.25 0.869 -4.496 3.77
EDV Vanguard Extended Duration Treasury ETF 80 76.0899 0.14 -3.342 -19.352 5.25
NYF iShares S&P AMT-Free Municipal Bond Fund 68 104.6 0.25 1.29 4.311 3.6
ITR SPDR Barclays Capital Intermediate Term Credit Bond ETF 77 32.305 0.15 2.44 14.959 4.53
CXA SPDR Barclays Capital California Municipal Bond ETF 63 22.3599 0.2 1.511 8.564 4.24
SCPB SPDR Barclays Capital Short Term Corporate Bond ETF 87 30.04 0.1245 0.182 #N/A N/A 0.39
PZT PowerShares Insured New York Municipal Bond Portfolio 37 23.1 0.28 0.756 12.512 4.63
VCLT Vanguard Long-Term Corporate Bond ETF 37 74.39 0.15 0.561 #N/A N/A 1.54
PWZ PowerShares Insured California Municipal Bond Portfolio 37 23.61 0.28 1.86 13.445 4.67
LWC SPDR Barclays Capital Long Term Credit Bond ETF 25 35.5505 0.15 0.735 23.79 5.76
TIPZ PIMCO Broad US TIPS Index Fund 22 51.258 0.2 -0.077 #N/A N/A 0.71
VGSH Vanguard Short-Term Government Bond ETF 27 60.02 0.15 0.536 #N/A N/A 0.18
MUNI PIMCO Intermediate Municipal Bond Strategy Fund 23 50.13 0.35 0.809 #N/A N/A 0.48
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index Fund 17 65.45 0.15 -4.731 #N/A N/A 0.77
USY WisdomTree US Short Term Government Income Fund 13 24.98 0.25 #N/A N/A #N/A N/A 0.32
VRD SPDR S&P VRDO Municipal Bond ETF 15 30.01 0.2 -0.047 #N/A N/A 0.07
VGLT Vanguard Long-Term Government Bond ETF 14 57.24 0.15 0.102 #N/A N/A 1.09
TENZ PIMCO 7-15 Year US Treasury Index Fund 14 74.24 0.15 0.93 #N/A N/A 1.49
UST ProShares Ultra 7-10 Year Treasury 14 70.01 0.95 #N/A N/A #N/A N/A 0
VGIT Vanguard Intermediate-Term Government Bond ETF 15 59.48 0.15 1.389 #N/A N/A 0.55
MBG SPDR Barclays Capital Mortgage Backed Bond ETF 11 26.77 0.2 2.068 4.806 2.61
MUAB iShares 2013 S&P AMT-Free Municipal Series 10 50.81 0.3 #N/A N/A #N/A N/A 0.14
MUAA iShares 2012 S&P AMT-Free Municipal Series 10 50.87 0.3 #N/A N/A #N/A N/A 0.09
CLY iShares 10+ Year Credit Bond Fund 10 50.4608 0.2 1.356 #N/A N/A 1.23
PLK PowerShares Active Low Duration Portfolio 8 25.19 0.29 0.199 2.997 1.71
MUAE iShares 2016 S&P AMT-Free Municipal Series 5 50.53 0.3 #N/A N/A #N/A N/A 0.32
GMMB Grail McDonnell Intermediate Municipal Bond ETF 5 50.14 0.35 #N/A N/A #N/A N/A 0.17
GMTB Grail McDonnell Core Taxable Bond ETF 5 50.1 0.35 #N/A N/A #N/A N/A 0.19
UBD Claymore/Dorchester - The Capital Markets Bond Index ETF 5 48.92 0.5 -0.01 #N/A N/A 3.34
GLJ iShares 10+ Year Government/Credit Bond Fund 5 49.77 0.2 0.474 #N/A N/A 1.09
TWOZ Direxion Daily 2-Year Treasury Bear 3X 4 40.18 0.95 #N/A N/A #N/A N/A 0
TWOL Direxion Daily 2-Year Treasury Bull 3X 4 39.7 0.95 #N/A N/A #N/A N/A 0
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[...] that is quickly changing with the arrival of many fixed income ETF’s . These ETF’s have much lower fees and are more tax efficient than similar mutual funds and [...]