Core Viewpoint - Symmetry Partners, LLC has initiated a significant position in the Dimensional Global Core Plus Fixed Income ETF, acquiring 2,471,670 shares valued at approximately $133.64 million, which now represents 7.91% of their reportable assets under management [2][3][6] ETF Overview - The Dimensional Global Core Plus Fixed Income ETF provides access to a diversified range of global fixed income markets, including government, corporate, and securitized sectors [5][7] - As of January 26, 2026, the ETF has an asset under management (AUM) of $2.12 billion and a share price of $54.43 [4] - The ETF offers a trailing twelve-month dividend yield of 3.43% and a one-year total return of 5.89% [4][3] Investment Strategy - The ETF's strategy focuses on broad exposure to global investment-grade and select lower-rated debt securities, aiming for total return through diversified fixed income allocations [7][8] - The fund is actively managed, which allows for a research-focused approach rather than passive index tracking [8][9] Performance and Holdings - The ETF's performance has underperformed the S&P 500 by 7.38 percentage points over the past year, with a total return of 5.9% [3] - Despite its relatively short track record since inception in 2023, the ETF has attracted significant investment interest, indicating confidence from investors like Symmetry Partners [9][10] Investor Implications - The substantial investment by Symmetry Partners has made the Dimensional Global Core Plus Fixed Income ETF their second-largest holding, reflecting strong conviction in its potential [6][8] - The ETF may be appealing to investors seeking to complement equity holdings with steady income as part of a diversified portfolio [10]

JPMorgan Short Duration Core Plus ETF (JSCP US) – Portfolio Construction MethodologyThe investment process governing the actively managed JPMorgan Short Duration Core Plus ETF builds a multi-sector, short-maturity fixed income portfolio anchored in investment-grade U.S. rate and credit markets with flexibility to allocate to non-investment-grade and securitized “plus” sectors when compensated. Eligible instruments include Treasuries, agencies, corporates, mortgage- and asset-backed securities, and select hi ...

Hartford Total Return Bond ETF (HTRB US) – Investment PropositionHartford Total Return Bond ETF (HTRB) provides diversified, actively managed exposure to U.S. fixed income with a stated objective of competitive total return and income. The portfolio blends top-down rate, curve, and sector views with bottom-up security selection across investment-grade corporates, Treasuries, and securitized markets, with flexibility to allocate opportunistically to out-of-benchmark segments when risk-reward is attractive. D ...

Core Insights - Fixed income ETFs had a record-breaking year in 2025, with inflows rising 45% to $437 billion from $300 billion in 2024, driven by macroeconomic uncertainties and falling interest rates [3][2] - Morningstar predicts that fixed income ETFs will continue to gain market share, potentially reaching 33% of the bond fund market by the end of 2026, as they have been gaining an average of 2% market share per year since November 2015 [4][5] - The demand for short-term bond ETFs is expected to increase as they offer competitive yields compared to traditional money market accounts, appealing to investors seeking better returns on cash [6][7] Market Trends - In 2025, nearly 150 new fixed income ETF products were launched, indicating a growing interest in active management within the fixed income space [2] - Broad-based fixed income ETFs, such as the iShares Core U.S. Aggregate Bond ETF (AGG) and the Vanguard Total Bond Market ETF (BND), attracted significant inflows, with $177 billion reported [8] - Active ETFs are gaining traction, with funds like the Eaton Vance Total Return Bond ETF (EVTR), JPMorgan Income ETF (JPIE), and PIMCO Multisector Bond Active ETF (PYLD) being highlighted for their potential to outperform traditional indices [9] Future Outlook - The fixed income ETF market is expected to remain dynamic in 2026, with continued investor interest in both broad-based and actively managed funds [10] - The current low-interest-rate environment from banks is likely to drive more investors towards short-term bond ETFs as a means of earning higher yields [7]

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - Asian fixed - rate IG credits tightened by 1 - 4bps this morning. Some bonds like VLLPM 29 were down, while PMBROV 30 recovered [3] - The FV of the new SUNHKC 29 is expected to be mid - 6% compared to an IPT of 6.75% [3][7] - Yuexiu REIT is gauging investor interest in USD/CNH bonds to refinance USD400mn YXREIT 2.65 02/02/26 [3][17] Summary by Directory Trading Desk Comments - Yesterday, new POHANG 31 - 36s/SKBTAM 29 tightened 3 - 5bps due to buying from Chinese onshore accounts, and new CSILTD Float 31 widened 1bp. Chinese IG credits tightened 1 - 3bps overall, with strong buying in beta names. Some bonds like EHICAR 26 - 27 were down, while NWDEVL/VDNWDL complex rose [2] - In Chinese properties, VNKRLE 27 - 29 were down, and Vanke proposed revised terms for its onshore bond. FUTLAN 28/FTLNHD 26 - 27 had mixed performance [2] - In JP space, SUMIBK/MUFG 5yr FRNs tightened. In SE Asia, BBLTB subs tightened, and GARUDA 31s surged. In the Middle East, FABUH 31s had block - size trading but closed unchanged. In AU space, CRNAU 29/PMBROV 30 were down [2] Macro News Recap - On Wednesday, S&P (-0.19%), Dow (-0.80%), and Nasdaq (-0.10%) were lower. US approved Nvidia H200 chip exports to China with conditions. UST yield was lower, with 2/5/10/30 - year yield at 3.53%/3.75%/4.18%/4.83% [6] Desk Analyst Comments - Sun Hung Kai proposes to issue a 3yr USD senior unsecured bond. The FV of the new SUNHKC 29 is seen as mid - 6% vs IPT at 6.75%, considering peer valuation and tenor differential [7] - Proceeds from the new issue will fund a tender offer for SUNHKC 5 09/07/26 and for general working capital. The tender price is at par, and SHK may prioritize allocation to tendering bondholders. Tender offer settlement depends on new bond issue settlement [8] - SHK is 74.6% - owned by Allied Group and ultimately by Lee and Lee Trust. It has businesses in credit, investment management, and fund management. In 1H25, it had a 43.5% yoy income increase, with credit and fund management contributing 62% of total income [9] - In 1H25, pre - tax profit increased, ROE rose, and leverage metrics improved. As of Jun'25, it had cash of HKD2.8bn and total debts of HKD11.0bn, with 52% due within one year [10] Offshore Asia New Issues - No offshore Asia new issues were priced today [14] - ANZ New Zealand (Int'l) London Branch and Sun Hung Kai are in the pipeline for new issues, with ANZ having 3yr/5yr options and Sun Hung Kai a 3yr bond at 6.75% [15] News and Market Color - Yesterday, 112 onshore credit bonds were issued with an amount of RMB107bn. Month - to - date, 645 credit bonds were issued, raising RMB517bn, a 20.3% yoy decrease [16] - Biocon's INR41.5bn QIP attracted 4x demand. CAS accepted USD580.629mn of CASHLD 4 Perp in a tender offer. Piramal Finance raised USD350mn. SJM accepted USD170.115mn of SJMHOL 4.5 01/27/2026 in a tender offer [16] - Vanke proposed revised terms for an onshore bond extension, and Yuexiu REIT is gauging investor interest in bonds for refinancing [16][17] Top Performers and Underperformers - Top performers include NWDEVL and GARUDA bonds with significant price increases, while top underperformers like CRNAU, ARAMCO, and PMBROV bonds had price drops [4]

Key Points Peterson Wealth Advisors added 596,642 shares of JBND; estimated trade size is $32.37 million based on average prices in the fourth quarter of 2025. The quarter-end value of the position increased by $32.25 million, reflecting both share purchases and price changes. The transaction represented an approximately 4.32% increase relative to the fund’s reportable U.S. equity assets under management (AUM). Post-trade, the fund held 878,288 shares valued at $47.49 million as of December 31, 202 ...

Core Insights - Von Borstel & Associates, Inc. increased its stake in the Dimensional Global Core Plus Fixed Income ETF by $5.75 million, bringing the total position to 1.34 million shares valued at $74.09 million, which represents approximately 11.36% of overall fund assets [1][2][3] ETF Overview - The Dimensional Global Core Plus Fixed Income ETF has assets under management (AUM) of $2.06 billion and offers a yield of 3.4% [4] - As of the latest pricing, DFGP shares are valued at $54.03, reflecting a 2% increase over the past year, while the S&P 500 has seen a nearly 17% gain [3] Investment Strategy - The ETF focuses on a globally diversified portfolio of U.S. and foreign debt securities, including both investment-grade and select lower-rated bonds to enhance yield potential [8] - It is structured as an exchange-traded fund, providing exposure to core plus fixed income securities, catering to both institutional and individual investors seeking diversified fixed income exposure with daily liquidity [8] Market Positioning - The investment strategy is not speculative but rather a structural allocation alongside equity ETFs, aiming to provide income without aggressive rate calls, with a yield to maturity exceeding 5.5% and a duration under seven years [9] - Dimensional's systematic approach includes spreading exposure across more than 1,300 holdings, blending investment-grade with selective lower-rated credit, and maintaining a low net expense ratio of around 0.22% [10]

Once again it's the time of year when analysts get seduced into making predictions for the next year's market performance. Some will be correct, some will be embarrassingly wrong. I would not advise changing your investment strategy based on being swayed by anyThough I have done quite a few different things over the course of a long life, I am best known as a writer of bestselling books about business and health. My success has come because I am a very curious person who doesn't just follow the herd and tru ...

Core Viewpoint - The company maintained a strong position in US assets during a period of uncertainty, leading to favorable outcomes as others reconsidered their investments [1] Group 1: Economic Context - There was significant uncertainty regarding tariffs, which was expected to negatively impact consumer spending and business hiring plans due to increased costs [2][3] - The discussions among colleagues focused on the trade-off between inflation impacts and growth slowdown, with concerns from clients about US policy and asset allocation [4][5] Group 2: Market Observations - Despite concerns, foreign participation in US Treasury auctions remained stable, providing confidence to continue holding and adding to US Treasury positions [6] - The anticipated increase in tariffs was projected to rise from around 2% to a range of 15-20%, influencing investor sentiment and strategies [8][9] Group 3: Investment Strategy - The company reduced duration exposure in the US market, recognizing that US Treasuries had outperformed compared to other developed markets like Australia, the UK, and Japan [12] - Opportunities were identified in Japan, Australia, and the UK, with a strategy to scale up investments if rates in these regions continued to weaken [13][14] Group 4: Volatility and Opportunities - The current market environment is characterized by competing forces, including growth from upcoming fiscal measures and tariff-related uncertainties, leading to sustained volatility [15][16] - This volatility presents exciting opportunities in fixed income, with the potential to construct globally diversified portfolios yielding 6-7%, which is attractive compared to cash and equities [17]

Core Insights - The municipal bond market is experiencing a positive shift as Q3 shows strong performance, suggesting that fixed income investors should consider municipal exposure in their portfolios [1][2][3] Market Performance - An oversupply of municipal bonds at the beginning of the year has improved, with Q3 seeing increased demand and municipal bonds outperforming broader bond indexes [2][3] - Yields across the municipal bond curve have decreased, with longer maturities providing the best returns due to higher duration, highlighting a steep yield curve with attractive long-end valuations [3] Investment Solutions - Vanguard offers low-cost passive solutions such as the Vanguard Tax-Exempt Bond ETF (VTEB), which tracks the performance of investment-grade municipal bonds and has an expense ratio of three basis points [4] - For active management, the Vanguard Core Tax-Exempt Bond ETF (VCRM) is recommended, featuring a 12-basis point expense ratio and the ability to adjust holdings based on market conditions [5] - The Vanguard High-Yield Active ETF (VGHY) is a new actively managed option with a 0.22% expense ratio, designed to navigate the complexities of the high-yield municipal market [6]