Hartford Funds Launches High Yield Bond ETF Through Mutual Fund Conversion

Hartford Funds has launched the Hartford High Yield ETF (HINC), an actively managed fixed income ETF created through the conversion of its Hartford High Yield Fund mutual fund. Sub-advised by Wellington Management, the ETF retains its predecessor's investment objective and strategy, investing at least 80% and potentially up to 100% of its assets in below-investment-grade debt securities, primarily corporate bonds. The strategy combines top-down analysis of economic cycles, sectors and credit quality with bottom-up fundamental research to identify mispriced securities and attractive income opportunities. HINC may allocate up to 30% of net assets to foreign issuers, 20% to bank loans and 15% to preferred stocks and convertible securities. The fund can also use derivatives for risk management, currency hedging and liquidity purposes.