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iShares 20+ Year Treasury Bond ETF (TLT)
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Vanguard Long-Term Government Bond ETF (VGLT)
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Evolve Enhanced Yield Bond Fund (BOND)
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Q: Thoughts on this new high yielding bond fund? Thanx.

Asked by Steve on November 22, 2023

5i Research Answer:

BOND:CA is Evolve ETF’s Enhanced High Yield Bond Fund. BOND is an income ETF for long term-investors seeking US exposure and increases yields by selling covered call options. Bond has waived its management fee until March 30th, 2024. BOND currently has AUM of $12.54M, yield to maturity of 4.62%. BOND only has two holdings which are split 60/40 between TLT and VGLT. The covered call options enhance income, and provide a bit of downside protection (more income). The fund is too small currently for us, but we expect it to grow, and we have no particular concern on the set up. It could do well as rates fall.

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