Highlights

  • EUHY targets euro denominated high Yield corporate bonds with US dollar hedging.
  • The published expense ratio is 0.35%.
  • The fund's distribution frequency is monthly.

iShares Euro High Yield Corporate Bond USD Hedged ETF (Cboe BZX:EUHY) seeks exposure to euro denominated high yield corporate bonds with US dollar hedging. With net asset value of USD 51.54 per share as of 30 October 2026, the fund reported net Assets of USD 247,385,588 as of 30 October 2026. Its Investment approach centres on tracking the Bloomberg Pan-European High Yield (Euro) 100% Hedged to USD Index.

Currency Hedging Accompanies Corporate Credit

The underlying bond exposure and the currency hedge perform different roles. Euro high yield bonds provide the Credit exposure, while the hedge seeks to moderate Exchange Rate movements against the US dollar. Hedging can introduce costs and imperfect offsets. It does not change a borrower's ability to repay or prevent bond prices from reacting to changes in credit spreads and interest rates.

Portfolio Composition and Exposure

EUHY reported 664 holdings as of 30 October 2026. This count describes the portfolio at that date and can change as securities enter or leave the fund. It does not indicate that each position carries the same weight.

The published exposure breakdown as of 30 October 2026 included Consumer Cyclical at 22.09% and Communications at 18.53%. These allocations show where a meaningful part of the portfolio's exposure was concentrated. The percentages can change with market values and portfolio adjustments.

Effective duration was 3.09 years as of 30 October 2026, while weighted average Maturity was 3.73 years as of 30 October 2026. Duration indicates sensitivity to Interest Rate changes; maturity describes the timing of principal repayments. These measures address different features of a bond portfolio.

Fees and Distribution Policy

EUHY lists an expense ratio of 0.35%. This is an ongoing fund cost, rather than a charge covering every expense of buying or selling shares. Brokerage charges and the difference between buying and selling prices can add to an investor's transaction costs. Fund shares trade on Cboe BZX at market prices, which may differ from net asset value.

The stated distribution frequency is monthly. That schedule describes the timing framework for payments and does not establish a fixed amount. Distributions depend on the fund's available income and applicable distribution decisions. A cash payment also needs to be considered alongside changes in the value of the investment.

Key Insights

Corporate defaults and widening credit spreads remain relevant despite currency hedging. Hedge implementation, counterparty exposure and differences between expected and actual currency offsets can introduce additional risks. EUHY combines euro corporate high yield exposure with a dollar hedge, so credit conditions and hedge mechanics need to be considered separately.