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Dex, in 2008 the average open end junk muni fund lost 25.27%. HYD wasn't around then but since it underforms the open end funds the loss would have been more. The safe haven is Treasuries and to a lesser extent high grade munis. Still, as you said, the junk munis have certainly outperformed the junk corporates recently.
Dex, in 2008 the average open end junk muni fund lost 25.27%. HYD wasn't around then but since it underforms the open end funds the loss would have been more. The safe haven is Treasuries and to a lesser extent high grade munis. Still, as you said, the junk munis have certainly outperformed the junk corporates recently.
... it is different this time ... only joking
I guess the determinate will be the type of decline.
I'm hoping I can send you a big thank you for pointing out HYD more then a year ago - HYD goes up while stocks decline.
Dex, It wasn't I that pointed out HYD as more times than I can count I have lambasted junk ETFs on this board. Today is yet another example as HYD was down over 1% while the open end were unchanged to up. Check out NSIOX or the more conservative VWAHX.
Dex, It wasn't I that pointed out HYD as more times than I can count I have lambasted junk ETFs on this board. Today is yet another example as HYD was down over 1% while the open end were unchanged to up. Check out NSIOX or the more conservative VWAHX.
Including interest as of today I'm up 6.8%. I think HYD will recover fairly well in the short term.
NHMAX also held up very well but that has a 4.2% load - I got some of that what Fidelity didn't have a load on it.
Dex, It wasn't I that pointed out HYD as more times than I can count I have lambasted junk ETFs on this board. Today is yet another example as HYD was down over 1% while the open end were unchanged to up. Check out NSIOX or the more conservative VWAHX.
Junkster, I sold my positions in SNTIX and VWAHX due to the sharp downturn in HYD over the last two days, which I feared would send the open end munis reeling downward. Since most open end munis were up today, I'm wondering if they'll be down tomorrow due to a lag effect. Or maybe the open ends and HYD have no reliable relation to each other.
If the markets in general stabilize and the open end munis continue upward, I'll get back in, probably via ABHYX, which looks promising.
Dex, It wasn't I that pointed out HYD as more times than I can count I have lambasted junk ETFs on this board. Today is yet another example as HYD was down over 1% while the open end were unchanged to up. Check out NSIOX or the more conservative VWAHX.
Junkster, I sold my positions in SNTIX and VWAHX due to the sharp downturn in HYD over the last two days, which I feared would send the open end munis reeling downward. Since most open end munis were up today, I'm wondering if they'll be down tomorrow due to a lag effect. Or maybe the open ends and HYD have no reliable relation to each other.
If the markets in general stabilize and the open end munis continue upward, I'll get back in, probably via ABHYX, which looks promising.
I prefer to look at TFI intraday. It's becoming more and more of an inexact science not just in the munis but the corporates figuring how the open end will price based on the action intraday of their ETF brothers. TLT is due for a bad day and I am looking to add to the munis. Albeit they have been pretty resilient lately on such days. Nothing wrong with ABHYX. I prefer NSIOX, MMIIX, or DVHIX. As I mentioned earlier, I bet you are ahead of 99% on this board YTD.
The play in this space is xmpt when the discount of the underlying holdings nears 10% as it is now. Not to mention the CEF space is getting pummeled in general. On the safe side why not just stick with VWLUX? The high yield in munis is often driven in part by duration as much as credit risk. Still think interest rates going up, eventually.
Comments
I guess the determinate will be the type of decline.
I'm hoping I can send you a big thank you for pointing out HYD more then a year ago - HYD goes up while stocks decline.
NHMAX also held up very well but that has a 4.2% load - I got some of that what Fidelity didn't have a load on it.
If the markets in general stabilize and the open end munis continue upward, I'll get back in, probably via ABHYX, which looks promising.