Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield
The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 11.3% as of 14 October) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held middle-market businesses that tend to be below investment grade or not rated, with most lending comprising of senior secured loans). The brown line displays the BofA Merrill Lynch US High Yield (currently at 6.9% as of 14 October, down from the highs of 9.5% in October 2023), which tracks the performance of USD denominated below investment grade corporate debt publicly issued in the US.
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