Ziziphi iimali eziphezulu zeeNtengo?
Izibophelelo eziphezulu zezivuno zibophelelo ezikhishwe ngamashishini anokulinganisa ngetyala eziphantsi kwebakala lotyalo-mali. Umzekelo wenkampani yebakala lotyalo-mali uza kuba yiMicrosoft okanye i-Exxon Mobil , iifemu ezinkulu zelizwe elinemali ephindaphindiweyo kunye neetoni zemali kwi-sheets.
Zombini iinkampani zinomlinganiselo ophezulu weentengo zemboleko kunokuba urhulumente wase-US, kuba akukho nethuba lokuba baya ku- default , okanye ngamanye amagama, abahluleka ukwenza intshisekelo yabo kunye neentlawulo eziphambili ngexesha.
Ngokwahlukileyo, izibophelelo eziphezulu ezikhutshwayo zikhutshwa yinkampani ezinemibono enokuthi ikhutshwe ngokwaneleyo ukukhusela ityala labo ekubeni libala kwibakala lokutshala imali. Iinkampani ezithengayo ziphezulu zingaba namanqanaba aphakamileyo amatyala, amanyathelo omashishini athile, okanye umvuzo ombi.
Ngenxa yoko, kukho amathuba amaninzi ukuba ayenako. Ezi nkampani, ngoko ke, zifumana ukulinganiswa kwetyala eziphantsi kwaye abatyali-mali bafuna isivuno esiphezulu ukuba bafumane izibopho zabo. Isizathu sokuba kutheni izibophelelo ezinobungozi zihlawulela isivuno esiphezulu kuxoxwa kwinqaku lam . Ulwalamano phakathi koMngcipheko kunye nokuThengisa kwiMakethe yeBond .
Izingozi zeBond-Yield Bonds
Kubantu abathile abatyale isivuno esiphezulu ngokubambisana ngemali okanye imali yokuthengiselana (kunokuba zibophelelwe ngabanye), ukusilela akuyona nto ephambili.
Isingqikithi esingaphantsi komyinge ongapheliyo wokuvunwa okuphezulu si malunga ne-4% ngonyaka, oko kuthetha ukuba imali eninzi okanye ii-ETF ezityala kwicandelo aziboneli ngempembelelo enkulu yentsebenzo kwizinto ezingaphiliyo kunyaka ngamnye.
Esikhundleni saloo nto, umngcipheko ophezulu ngowokuphakanyiswa kokuphakanyiswa kwezibophelelo eziphezulu eziqhathaniswa nezinye iindawo zemarike yeebophe.
Izibophelelo ezivunyiweyo eziphezulu zenze kakuhle ngexesha elide, kodwa iklasi ye-asethi inokuwela ngokukhawuleza xa imeko yemarike iyajika.
Umzekelo osandul 'ukwenzeka kakhulu ngowangonyaka ka-2008 xa inkathazo yezemali yaseMelika ibetha iimarike ngokupheleleyo. Ukususela ngo-Agasti 29 ukuya ku-Oktobha 27 waloo nyaka, i-market yield high yield yalahleka ngaphezu kwe-25% yexabiso layo. Lo kwakuyimeko engavamile kakhulu, kodwa ibonisa iingozi ezinokuthi zenze ixesha elifutshane zibandakanyeka kotyalo-mali oluphezulu.
Ukubuyiselwa Kweembali Eziqinileyo
Ukuthengiswa kwexesha elifana nelo lwenzeka ngo-2008 aluzange linciphise ukusebenza kwexesha elide leemveliso eziphezulu. Kwiminyaka elishumi ephela ngomhla ka-Agasti 31, 2012, iNkcazo ye-Credit Suisse High Yield Index yanikezela ukubuyela kwekota eyi-10.26% ephezulu-engcono kunamacandelo onke emarike engenayo engenayo ngaphandle kwamashishini athengisayo .
Ngelo thuba lixesha elifanayo, iibhondi zebhanti-mali (njengoko zilinganiselwe yi-Barclays Uhlu lwe-US Bond Index) zabuyela ku-5.48% ngonyaka ngokuqhelekileyo, ngelixa ama-stocks ase-US (njengoko ahlolwe yi-S & P 500 Index) abuyele ku-6.51%.
Akukona nje ukukhutshwa kweemveliso eziphezulu ezikhulayo ngexesha eli lixesha, kodwa zenze njalo malunga nesiqingatha se-volatility-oko kuthetha ukuba umngcipheko / umvuzo wokurhweba wawucacile kwisiseko.
Kufuneka kwakhona kuqatshelwe ukuba izibophelelo eziphezulu zivelise ukubuyiswa okulungileyo 23 kwimihla le-28 yekhalenda ngo-2011 ngokutsho kweLipper.
Ngokwesivuno, ireyithi ye-asethi iye yafumana inzuzo malunga neepesenti zepesenti ezimalunga ne- US Treasury ngokuhamba kwesikhathi. Nangona kunjalo, le ntsebenzo-okanye isivuno sisasazeka- siye sahamba phakathi kweentlobo ezinkulu. Kwawa ngaphantsi kwama-2.5 - 2.6 amaphesenti amaphuzu ngo-1997 kwaye kwakhona ngo-2007, kwaye yahluma iphakamileyo ngamaphesenti angama-21 kwiingxaki zemali ngo-2008.
Izibophelelo eziphezulu zezivuno zivame ukwenza okusemgangathweni ngamaxesha okwandiswa koqoqosho kunye nokuzithemba kwezentengiso . Ngokuchasene, i-asethi yeklasi ngokuqhelekileyo yenza kakuhle xa umngcipheko wokuhlaselwa kwemali uphakamileyo kwaye / okanye abatyali-mali abakhululekile ukuthatha ingozi.
Ukunyuka kwezinga lokuthatha inzala alinayo impembelelo enkulu kwizibophelelo ezivunyiweyo eziphezulu njengoko zenza ezinye iindawo zemarike ebophekileyo ngenxa yokuba ukuvelisa isivuno saso kuthetha ukuba i-quarter-point is moved in Treasures ibe nefuthe elincinci kwisivuno njengoko sisenza izibopho kunye nezivuno eziphantsi.
Eli phepha elimhlophe ngumphathi we-asethi u-Alliance Bernstein unikeza iinkcukacha ezininzi ngale ngxaki.
Ingxelo yonyaka ngomsebenzi wobudlelwane obukhulu, kunye nokuthelekiswa kweentlawulo ezithintekayo malunga nezo zibini kunye nezibophelelo zebhanki-mali, ziyafumaneka apha.
Ubani Ofaka Iibhondi Eziphezulu?
Izibophelelo eziphezulu zezivuno zicatshangelwa ukuba zinikeze umgangatho ophakathi phakathi kwamasheya kunye nezibophelelo. Nangona zizinyathelo eziqinisekisiwe zokufumana imali, izibophelelo eziphezulu ezivunyiweyo zineziphumo ezinzulu kunezinye iinqununu zeemarike ezibophelelweyo, kwaye emva kwexesha ukusebenza kwabo kuthatha ukulandelelana ngokusondeleyo kwimakethe yemasheya kunokuba ityala lokutsalwa kwebhanti.
I-asethi yeklasi, ngoko ke, ilungele umntu okhangela umvuzo ophezulu kunye nokukwazi ukuxabisa kwexesha elide, kodwa ngubani na onokumelana nomngcipheko kwaye obaluleke kakhulu - unokukwazi ukubambelela ekutyalweni kwabo abathathu ukuya iminyaka emihlanu. Ngenxa yokunyaniseka kwabo okuphakamileyo, izibophelelo ezivunyiweyo eziphezulu azifanelekanga kubalimi-mali kunye nexesha elifutshane elifanelekileyo okanye ukunyamezela okuphantsi komngcipheko .
Indlela yokuTyala
Abatshali-mali abanokuzikhethela banokukhetha ukuthenga izibophelelo eziphezulu zomvuno ngokusebenzisa umthengisi. Nangona kunjalo, le yinkqubo enzima yomsebenzi ebandakanya izinga eliphezulu lolwazi nophando. Uninzi lwabatyalomali bakhetha ukufikelela kwicandelo ngokusebenzisa iimali okanye ii-ETF . I-Morningstar ine-uluhlu olupheleleyo lweengxowa-mali ezibophelelweyo ezivunyiweyo, kunye nembuyekezo yazo yembali. Ezi zimbini ezona zikhulu kakhulu zivuno ze-ETF zi-SPDR Barclays I-Capital High Yield Bond ETF (JNK) kunye ne-iShares iBoxx ye-High Yield Corporate Bond Fund (i-HYG). Ezinye ii-ETF ezityalayo kwicandelo zi:
- I-iShares iBoxx yeNgxowa-mali ye-Bond ye-Bond ye-Bound (HYG)
- I-SPDR Barclays I-Bound Yield Bond ETF (JNK)
- I-SPDR Barclays Capital Ixesha elifutshane lokuThengisa iNqanaba eliPhakamileyo le-ETF (SJNK)
- iShares 0-5 Yonyaka ophezulu wokuThengiswa kweBhondi ye-ETF (SHYG)
- I-PIMCO 0-5 Yonyaka we-US High Yield Bond Index Index (HYS)
- I-PowerShares Isiseko esiPhakamileyo seNtengo yeBondfolio yeBondfolio (PHB)
- Iintlawulo eziphakamileyo zePETF (HYLD)
- Iimpawu zeemarike ze-Fallen Angel Bond ETF (ANGL)
- UkuPhakamisa okuPhezulu kokuQala ukuThola ixesha elide / elifutshane ETF (ii-HYLS)
- Vectors Market
- I-ProShares High-Interest Rate-Hedged ETF (HYHG)
- I-Guggenheim BulletShares 2013 I-Bond High Yield Corporate Bond ETF (BSJD)
- I-Guggenheim BulletShares 2014 Ixabiso eliphezulu lokuThengisa ibhondi ye-ETF (BSJE)
- I-Guggenheim BulletIziqhamo zika-2015 eziPhakamileyo zeNtengo yeBhodi ye-ETF (BSJF)
- I-Guggenheim BulletIzibonelelo ze-2016 eziPhakamileyo zeNtengo yeBhanki ye-ETF (BSJG)
- I-Guggenheim BulletIzibonelelo ze-2017 eziPhakamileyo eziPhakamileyo zeBhanki ye-ETF (BSJH)
- I-Guggenheim BulletIimpapasho ze-2018 eziPhakamileyo eziPhakamileyo zeBhanki ye-ETF (BSJI)
- I-Guggenheim BulletIzibonelelo ze-2019 eziPhakamileyo eziPhakamileyo zeBhanki ye-ETF (BSJJ)
- I-Guggenheim BulletIe-2020 eziPhakamileyo zeeNtengo zeBhanki ye-ETF (BSJK)
Abatyalomali banokufumana ukufikelela kumaziko aphezulu okuvelisa izivuno ngee-ETF ezilandelayo:
- I-iShares ye-Global High Yield Fund yeBond Bond (GHYG)
- Iimarike zeMarike kwiNgxowa-mali ye-Bond ye-Bond ye-Bond (IHY)
- I-iShares I-Global ex USD yeNgxowa-mali ephezulu ye-Bond ye-Bond (HYXU)
- I-PowerShares yeLizwe elifutshane elifutshane elifutshane lePortfolio (PGHY)
- Iimarike zeemarike eziMakethe eziPhakamileyo eziThengisayo i-ETF (HYEM)
- I-iShares eziPhakamileyo zeMakethe eziPhakamileyo zeeNgxowa-mali zokuThengisa (EMHY)
Ukuziphendulela : Ulwazi olukule ndawo lunikezelwa ngeenjongo zengxoxo kuphela, kwaye akufanele lichazwe ngokungeniswa njengeengcebiso zotyalo-mali. Ngaphandle kweemeko ngaba le nkcazelo ibonisa isincomo sokuthenga okanye ukuthengisa iziqinisekiso. Njalo uphando ngononophelo ngaphambi kokuba utyalomali.