iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY)

The iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) is an index fund from BlackRock's iShares family that invests in euro-denominated high-yield corporate bonds.

The fund tracks an index of below-investment-grade bonds issued by corporations in euros, covering a range of industries and maturities. It holds these bonds directly and uses currency forward contracts to hedge the euro exposure back into U.S. dollars, so that returns primarily reflect changes in European credit spreads and interest rates rather than movements in the euro-dollar exchange rate.

The fund is passively managed and is designed to give U.S. dollar-based investors access to the European high-yield corporate bond market, a segment that is otherwise difficult to reach through domestic bond funds.