Seeking AlphaT3·28mo ago
HYGV Northern Trust High Yield Value-Scored Bond ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
HYGV
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Key stats
About
Northern Trust High Yield Value-Scored Bond ETF (HYGV) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2018-07-17
- Has Options
- No
Fund profile
holdings as of Jul 31, 2026SEC filingthrough Jul 2026flows, SEC filings
- Expense ratio
- 0.37% prospectus, filed Feb 25, 2026
- Assets
- $1.0B shares × price, Oct 21, 2026
- Trailing yield
- 7.72% paid monthly
- Average daily volume
- $6.2M 30 sessions
- Holdings
- 1,016 top 10 are 7.4%
- Listed
- Jul 17, 2018 NYSE Arca
- Tracking difference
- -0.44 pts vs index, after fees, FY 2025
Cost40
Liquidity60
Scale74
Diversification100
Moves with. Long Treasuries (44% of its variance, beta 0.36); US large-cap stocks (12% of its variance, beta 0.06); High yield over Treasuries (12% of its variance, beta 0.66); US dollar (4% of its variance, beta -0.06). These factors explain 78% of its daily moves over the last year.
Stated objective. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust High Yield Value-Scored US Corporate Bond Index SM (the Underlying Index). (from the fund's prospectus)
All 1,016 holdingsFlow historyOverlap toolAll High Yield Bond ETFs
Fund flows
through Jul 2026SEC filings- Jul 2026
- +$2.0M latest reported month
- Latest 3 months
- −$149K −0.0% of assets
- Latest 12 months
- −$116M −10.6% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$2.0M |
| Jun 2026 | +$2.0M |
| May 2026 | −$4.1M |
| Apr 2026 | −$14M |
| Mar 2026 | −$12M |
| Feb 2026 | −$31M |
| Jan 2026 | +$4.0M |
| Dec 2025 | −$12M |
| Nov 2025 | −$41M |
| Oct 2025 | +$10M |
| Sep 2025 | −$21M |
| Aug 2025 | +$28K |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| USHYiShares Broad USD High Yield Corporate Bond ETF | — | 0.08% | $25.8B | −5.5% | compare |
| HYGiShares iBoxx $ High Yield Corporate Bond ETF | — | 0.49% | $16.5B | −4.8% | compare |
| SPHYState Street SPDR Portfolio High Yield Bond ETF | — | 0.05% | $11.7B | −5.6% | compare |
| SHYGiShares 0-5 Year High Yield Corporate Bond ETF | — | 0.30% | $7.6B | −4.7% | compare |
| JNKState Street SPDR Bloomberg High Yield Bond ETF | — | 0.40% | $5.5B | −5.2% | compare |
The largest other funds in the High Yield Bond category.
Under the hood
fiscal year to Oct 31, 2025SEC census- Authorized participants
- 3 active of 24 with agreements; top 3 did 100%
- Created · redeemed
- $481M · $706M over the fiscal year
- Redemptions in kind
- 98% creations 92% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 20.93% of assets on loan on average; earned 4.8 bp
- Return vs index
- -0.44 pts after fees; -0.05 before; daily s.d. 0.35
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-07-31
Holdings
1016
AUM
$1.3B
Provider
Nport
Inception
2018-07-17
Exchange
ARCX
Data As Of
2026-07-31
Expense Ratio
0.37%
Dividend Yield
7.72%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-07 | $0.2567 | CD |
| 2026-09-01 | 2026-09-08 | $0.2417 | CD |
| 2026-08-03 | 2026-08-07 | $0.2568 | CD |
| 2026-07-01 | 2026-07-08 | $0.2436 | CD |
| 2026-06-01 | 2026-06-05 | $0.2572 | CD |
| 2026-05-01 | 2026-05-07 | $0.2486 | CD |
Asset Allocation
Top Holdings
top 50 of 1016 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | CF SECURED LLC | 11.07% | Repurchase agreement | US |
| — | THE BANK OF NOVA SCOTIA, TORONTO | 2.28% | Repurchase agreement | CA |
| — | FHLMC | 2.19% | Short-term investment | US |
| — | Tenneco, Inc. | 1.07% | Debt | US |
| — | MPT Operating Partnership LP | 1.07% | Debt | US |
| — | TD SECURITIES (USA) LLC | 0.91% | Repurchase agreement | US |
| — | Carvana Co. | 0.75% | Debt | US |
| — | National Mentor Holdings, Inc. | 0.75% | Debt | US |
| — | 1261229 BC Ltd. | 0.68% | Debt | CA |
| — | Moss Creek Resources Holdings, Inc. | 0.64% | Debt | US |
| — | Caesars Entertainment, Inc. | 0.63% | Debt | US |
| — | OneMain Finance Corp. | 0.63% | Debt | US |
| — | Nexstar Media, Inc. | 0.60% | Debt | US |
| — | Rithm Capital Corp. | 0.58% | Debt | US |
| — | Nissan Motor Co. Ltd. | 0.58% | Debt | JP |
| — | BellRing Brands, Inc. | 0.58% | Debt | US |
| — | Novelis Corp. | 0.55% | Debt | US |
| — | Carvana Co. | 0.54% | Debt | US |
| — | Millrose Properties, Inc. | 0.51% | Debt | US |
| — | Calumet Specialty Products Partners LP | 0.51% | Debt | US |
| — | Discovery Global Holdings, Inc. | 0.49% | Debt | US |
| — | B&G Foods, Inc. | 0.48% | Debt | US |
| — | Albertsons Cos., Inc. | 0.48% | Debt | US |
| — | Skeena Resources Ltd. | 0.47% | Debt | CA |
| — | Enova International, Inc. | 0.46% | Debt | US |
| — | OCBC NEW YORK | 0.46% | Debt | SG |
| — | AmeriGas Partners LP | 0.44% | Debt | US |
| — | Resorts World Las Vegas LLC | 0.43% | Debt | US |
| — | FS KKR Capital Corp. | 0.42% | Debt | US |
| — | AMC Global Media, Inc. | 0.42% | Debt | US |
| — | ZoomInfo Technologies LLC | 0.42% | Debt | US |
| — | Open Text Holdings, Inc. | 0.41% | Debt | US |
| — | Open Text Corp. | 0.41% | Debt | CA |
| — | Velocity Commercial Capital LLC | 0.40% | Debt | US |
| — | California Resources Corp. | 0.39% | Debt | US |
| — | HLF Financing Sarl LLC | 0.39% | Debt | US |
| — | Community Health Systems, Inc. | 0.38% | Debt | US |
| — | Golar LNG Ltd. | 0.38% | Debt | BM |
| — | Rithm Capital Corp. | 0.38% | Debt | US |
| — | BKV Upstream Midstream LLC | 0.38% | Debt | US |
| — | Millrose Properties, Inc. | 0.38% | Debt | US |
| — | Tidewater, Inc. | 0.38% | Debt | US |
| — | Fortescue Treasury Pty. Ltd. | 0.37% | Debt | AU |
| — | HLF Financing Sarl LLC | 0.37% | Debt | US |
| — | ROYAL BANK OF CANADA NY | 0.36% | Debt | CA |
| — | MIZUHO BANK LIMITED NEW YORK | 0.36% | Debt | JP |
| — | Novelis Corp. | 0.36% | Debt | US |
| — | Crescent Energy Finance LLC | 0.36% | Debt | US |
| — | TransDigm, Inc. | 0.35% | Debt | US |
| — | Victra Holdings LLC | 0.35% | Debt | US |
Non-Equity Breakdown
FlexShares High Yield Value - Scored Bond Index Fund ·
NPORT-P period 2026-07-31
(filed 2026-09-25)
Net assets:
$1.10B
· 1016 total positions
· equity 0.00%
· non-equity 116.63%
Non-equity holdings
— 1016 positions,
116.63% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Corporate | 99.42% | $1.09B | 1008 |
| Repurchase agreement | 14.26% | $156.5M | 3 |
| Short-term investment | 2.95% | $32.4M | 5 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.33% | -2.23% | 4.21% | 0.61% | 1.01% | 0.54% | 0.74% |
| Feb | 0.45% | -1.67% | -2.77% | 0.20% | 0.88% | -0.17% | -0.51% |
| Mar | 0.19% | -0.86% | 1.22% | 0.66% | -1.22% | -1.09% | -0.18% |
| Apr | 0.69% | -4.48% | 0.46% | -0.81% | -0.96% | 1.48% | -0.60% |
| May | -0.04% | 0.39% | -0.57% | 0.71% | 2.27% | 0.32% | 0.51% |
| Jun | 1.27% | -7.55% | 1.66% | 0.12% | 2.04% | 0.30% | -0.36% |
| Jul | -0.10% | 5.56% | 1.53% | 2.24% | 0.17% | 0.00% | 1.57% |
| Aug | 0.72% | -3.34% | 1.07% | 1.50% | 1.03% | 0.83% | 0.30% |
| Sep | -0.14% | -4.29% | -1.46% | 1.80% | 1.28% | -2.55% | -0.89% |
| Oct | -0.16% | 2.32% | -1.05% | -0.85% | -0.34% | -0.09%* | -0.03% |
| Nov | -1.30% | 2.72% | 3.37% | 1.79% | 1.13% | -- | 1.54% |
| Dec | 1.01% | -2.83% | 1.82% | -1.33% | 0.11% | -- | -0.24% |
| Total | 2.93% | -15.73% | 9.68% | 6.77% | 7.59% | -0.48% | 1.79% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $38.68
SMA 50: $39.41
SMA 200: $40.11
Current: $38.55
EMA 12: $38.60
EMA 26: $38.86
MACD: -0.2610 | Signal: 0.0204
BEARISH
ADX (14): 39.57
TREND
+DI: 15.59
−DI: 36.27
Momentum Oscillators
RSI (14): 33.99
NEUTRAL
Stoch %K: 28.48
Stoch %D: 21.34
Williams %R: -59.77
Volume & Volatility
BB Upper: $39.07
BB Lower: $38.29
NEUTRAL
OBV: -1,954,955
Vol SMA 20: 183,693
Vol ROC: -14.84%
ATR: $0.16
True Range: $0.19
HV 20: 4.2%
HV 30: 4.3%
HV 60: 4.2%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report: HYGV
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers:
- Low volatility and beta relative to market
- Range-bound trend with no clear direction
- Neutral news sentiment and recent headlines focus on ETF characteristics rather than fundamental changes
Primary Risks:
- High yield bond exposure may increase credit risk
- Market interest rate changes could impact ETF performance
Investment Thesis: HYGV's low volatility and beta make it an attractive option for income-seeking investors. However, the range-bound trend and lack of clear direction suggest caution is warranted.
Recent News Sentiment Impact: The recent news headlines provide no significant catalysts or surprises, maintaining a neutral sentiment overall.
Technical Analysis
Trend Direction: Range-bound (Short-term: NEUTRAL, Medium-term: RANGE-BOUND, Long-term: BEARISH)
Support/Resistance Levels:
- Lower band: $39.92
- Middle band: $40.21
- Upper band: $40.50
Momentum Signals:
- RSI (14): 55.47 (NEUTRAL)
- MACD: -0.02 / Signal: 0.03 / Histogram: -0.04 (BEARISH)
- Bollinger Bands position: NEUTRAL (Price touching middle band)
Volume Analysis: Volume trends: Declining volume, institutional interest signals: Low
News & Sentiment Analysis
Recent Headlines Summary: Neutral news headlines focus on ETF characteristics and market commentary.
Sentiment Assessment: NEUTRAL (aggregate sentiment of recent headlines)
Catalyst Identification: No significant catalysts or surprises in recent news.
Market Narrative: Range-bound trend with no clear direction, driven by neutral news sentiment.
Risk & Volatility Assessment
Beta Interpretation: Low risk relative to market (beta: 0.26).
Volatility Regime: Current volatility levels are low compared to historical norms.
Options Market Signals: No options data available.
Downside Protection: Support levels and risk management considerations are important due to the ETF's credit risk exposure.
Market Context & Positioning
Sector Performance: HYGV's sector (fixed income) has been performing relatively well compared to other sectors.
Institutional Activity: Low volume and institutional interest suggest a lack of significant buying or selling pressure.
Correlation Analysis: Correlation with SPY is low, suggesting HYGV moves independently of the broader market.
Relative Valuation: HYGV's position within its trading range is neutral.
Key Levels & Action Items
Critical Price Levels:
- Lower band: $39.92
- Middle band: $40.21
- Upper band: $40.50
Breakout/Breakdown Levels: No clear levels due to the range-bound trend.
Time-Sensitive Catalysts: None identified in recent news headlines.
Risk Management: Consider stop-loss levels and position sizing considerations due to credit risk exposure and market volatility.
This analysis provides a comprehensive view of HYGV's technical, fundamental, and sentiment factors. The neutral sentiment and range-bound trend suggest caution is warranted, while the ETF's low volatility and beta make it an attractive option for income-seeking investors.
Generated
News
All HYGV news →
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HYGV Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 0.2176
Alpha: -8.86%
Correlation: 0.6316
R-Squared: 39.9%
Stock Volatility: 4.4%
Market Volatility: 12.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
HYGV Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|