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Vanguard US High Yield Monthly Commentary

Jun 7, 2023
Economic & market outlook

U.S. High Yield returned -0.9% in May, but most of the negative return was driven by higher risk-free rates as HY excess returns were only -0.2%. CCC’s saw marginal underperformance in May but remain the best performing quality bucket year to date at +6% (+4% excess return) while BBs have underperformed at +2.5% (+0.8% excess return).

Vanguard US High Yield Monthly Commentary

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Important Information regarding risk of investment

ETF Shares can be bought and sold only through a broker and cannot be redeemed with the issuing fund other than in very large aggregations. Investing in ETFs entails stockbroker commission and a bid-offer spread which should be considered fully before investing. The market price of ETF Shares may be more or less than net asset value.

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