(BKHY) BNY Mellon High Yield Beta - Ratings and Ratios

The BNY Mellon High Yield Beta ETF (BKHY) is designed to offer broad exposure to the US high yield bond market, providing investors with a diversified portfolio of high yield securities. The fund achieves this by investing at least 80% of its net assets in high yield bonds and ETFs that track these securities.

To be considered high yield, the securities must meet specific rating criteria that qualify them for inclusion in the underlying index. This index is likely tied to a well-established benchmark for the US high yield bond market, such as the ICE BofA US High Yield Index. The funds investment strategy is subject to change, but shareholders are entitled to 60 days prior notice if the funds board decides to alter its investment policy regarding the 80% threshold.

From a technical standpoint, BKHY has shown stability with its current price hovering around $47.61, slightly above its short-term and long-term moving averages (SMA20: $46.81, SMA50: $46.82, SMA200: $46.47). The Average True Range (ATR) of 0.67 indicates a relatively low volatility, with daily price movements averaging 1.41%. Given the current technical setup, a breakout above the 52-week high of $47.61 could signal further upside potential, potentially targeting new highs.

Fundamentally, the fund has $220.69 million in Assets Under Management (AUM), indicating a moderate level of investor interest. The high yield bond market is sensitive to economic conditions, interest rates, and credit spreads. With the current economic landscape, if interest rates stabilize or decrease, and credit spreads tighten, the high yield bond market could see a boost, positively impacting BKHY.

Forecasting the future performance of BKHY involves analyzing both technical and fundamental data. If the ETF continues to trade above its moving averages and breaks through its 52-week high, it could be a bullish sign. Additionally, if the high yield bond market benefits from favorable economic conditions, such as lower default rates and stable interest rates, BKHY is likely to perform well. Therefore, a potential forecast could be that BKHY continues to rise, potentially reaching $50 in the next 6-12 months, contingent on positive market conditions and a stable economic environment.