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CMG > Our products > All Strategies > CMG Managed High Yield Bond Program

CMG Managed High Yield Bond Program

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Risk Profile: Conservative/Moderate Growth and Income

The CMG Managed High Yield Bond Program (“Managed HY Bond”) trades high yield mutual funds and ETFs using a proprietary quantitative buy/sell/hold model. The model identifies opportunities where the short-term and intermediate-term direction of the U.S. high yield market can be predicted with high probability. The strategy looks at daily data such as price, volume, yield spreads and default rates to identify trends.

How it works

  • The strategy looks at price movement and current yields to measure and manage risk.  The strategy uses price to generate buy and sell signals.
  • It is a disciplined rules-based tactical trading strategy designed to minimize economic risk and interest-rate risk.  On sell signals, the strategy moves to cash or cash equivalents (risk protection).
  • Managed HY Bond trades mutual funds and ETFs to broaden diversification and minimize individual credit risks.
  • Trading mutual funds and ETFs also mitigate liquidity risks inherent in buying individual bonds.  We believe these types securities offer the broadest, most cost-effective exposure.

Investment Objective:  Capital appreciation and Income

Suggested Portfolio Positioning: Serves as a complement to a client’s traditional fixed income portfolio

Suggested Allocation:  Typically representing 10-25% of a client’s total portfolio

Benchmark:  Fixed Income Benchmark — (60% BBgBarc US Corporate High Yield TR Index and 40% BBgBarc US Treasury Bill 1-3 Month TR Index)

Morningstar Peer Group:  Non-traditional Bond

*No inverse or leveraged ETFs are used.

Past performance is no guarantee of future returns.

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Important disclosure information: This website, and above links, contains information that has multiple authors and will offer multiple opinions on topics of interest. Any original written material on this website, either authored by CMG staff or external authors, are strictly the opinion of the author and not of CMG. If you find material that is inaccurate or defaming in any way, please contact us.

No Solicitation or Investment Advice: The material contained on this website is for informational purposes only and CMG is not soliciting any action based upon such material. The material is not to be construed as an offer or a recommendation to buy or sell a security nor is it to be construed as investment advice. Additionally, the material accessible through this website does not constitute a representation that the investments described herein are suitable or appropriate for any person.
Various links on this site will allow you to leave the CMG Web site. The linked sites are not under the control of CMG, and CMG is not responsible for the contents of any linked site or any link contained in a linked site, or any changes or updates to such sites. CMG is not responsible for any correspondence via email or any other medium, email list servers, webcasting or any other form of transmission received from any linked site. Links to external sources do not imply any official endorsement by CMG or the opinions, ideas or information contained therein, nor guarantees the validity, completeness or utility of the information provided. Reference herein to any products, services, processes, hypertext links to third parties or other information does not necessarily constitute or imply endorsement, sponsorship or recommendation. CMG shall not be held liable for improper or incorrect use of data or information contained in any electronic publications. Data, information, and related graphics contained in electronic publications are not legal documents and are not intended to be used as such. CMG gives no warranty, express or implied, as to the accuracy, reliability, utility or completeness of any information contained in any electronic document.

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