TCW High Yield Bond ETF (HYBX)

The TCW High Yield Bond ETF (HYBX) is an actively managed exchange-traded fund from TCW Group, the Los Angeles-based investment manager with a long history in fixed income.

The fund invests primarily in below-investment-grade corporate bonds, commonly known as high-yield or junk bonds, issued mostly by U.S. companies. Portfolio managers rely on bottom-up credit research to select issuers and manage exposure across industries, credit quality and maturities, seeking a high level of current income with attention to credit risk.

As an active fund, HYBX does not track an index, and its holdings change as managers adjust the portfolio to market conditions.