NEW YORK, March 11 (Reuters) – Closed-end high-yield bond funds fell on Wednesday – some by nearly twice as much as the broader high-yield market – as investors wary of risk pulled out of the leveraged products.
The DoubleLine Income Solutions fund was down 4.43%, the PGIM High Yield Bond Fund was down 4.17%, the Credit Suisse High Yield Bond Fund was down 2.31% and the Barings Global Short Duration High Yield Fund was down 2.97%.
Compare those losses to the performance of non-levered junk bond exchange-traded funds, like the SPDR Bloomberg Barclays High Yield Bond ETF down 2.08% and the iShares iBoxx High Yield Corporate Bond ETF was down 2.05%. (Reporting by Kate Duguid)
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