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2 Newly Rated ETFs For Bond Portfolios

NEW YORK ( TheStreet Ratings) -- TheStreet.com Ratings initiated coverage of 22 exchange-traded funds, or ETFs, that accrued a sufficient track record of risk and performance data by the end of April 2012. Of the 22 newly rated exchange-traded funds, only two start out at 'Buy' with grades of B- or better on superior first year results.

Three funds get initial 'Hold' level ratings of C+ to C- by finishing in the middle of the pack. Lastly, 17 ETFs begin at 'Sell' with grades of D+ or worse after underperforming alternative ETF investments in the past year on a risk-adjusted return basis.

Here are the two newly rated ETFs ranked at 'Buy':

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2. ProShares Ultra Investment Grade Corporate

ProShares Ultra Investment Grade Corporate (IGU) seeks daily investment results, before fees and expenses, that correspond to twice the return of the Markit iBoxx $ Liquid Investment Grade Index.

While this fund turned in a superior first year performance, double leveraged funds add another risk factor making them less attractive as longer term holdings.

Expense Ratio: 0.95%

One Year Total Return: 18.2%

Rated "B-" by TheStreet Ratings:

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1. SPDR Nuveen S&P High Yield Municipal Bond ETF

SPDR Nuveen S&P High Yield Municipal Bond ETF (HYMB)

Expense Ratio: 0.45%

One Year Total Return: 18.7%

Rated "B+" by TheStreet Ratings:

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Here are the three newly rated ETFs ranked at 'Hold':

3. Market Vectors Investment Grade Floating Rate Bond ETF

Market Vectors Investment Grade Floating Rate Bond ETF (FLTR) seeks to replicate as closely as possible the price and yield performance of the Market Vectors Investment Grade Floating Rate Index. The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark.

Expense Ratio: 0.19%

One Year Total Return: -3.6%

Rated "C-" by TheStreet Ratings:

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2. SPDR Barclays Capital Issuer Scored Corporate Bond

SPDR Barclays Capital Issuer Scored Corporate Bond (CBND) seeks to provide investment results that correspond generally to the price & yield performance of the Barclays Capital Issuer Scored Corporate Index. The index includes publicly issued U.S. corporate issues that are rated investment grade and have $250 million or more of par outstanding.

Expense Ratio: 0.16%

One Year Total Return: 8.2%

Rated "C" by TheStreet Ratings:

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1. ProShares Ultra High Yield

ProShares Ultra High Yield (UJB) seeks daily investment results, before fees and expenses, that correspond to twice the return of the Markit iBoxx $ Liquid High Yield Index.

Expense Ratio: 0.95%

One Year Total Return: 9.4%

Rated "C+" by TheStreet Ratings:

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Research Methodology

TheStreet.com Ratings condenses the available fund performance and risk data into a single composite opinion of each fund's risk-adjusted performance. This allows the unbiased identification of those funds that have historically done well and those that have underperformed the market. While there is no guarantee of future performance, these Investment Ratings provide a solid framework for making informed, timely investment decisions. The funds listed below have reached their one year anniversary.

Funds rated A or B are considered "Buy" rated based on a track record of higher than average risk-adjusted performance. Funds at the C level are rated as "Hold," while underperformers at the D and E levels our model ranks as "Sell."

-- Reported by Kevin Baker in Jupiter, Fla.

Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering equity and mutual fund ratings. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.

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SYM TRADE IT LAST %CHG
HYMB $57.47 -0.40%
CBND $32.71 -0.23%
UJB $59.97 2.16%
FLTR $24.93 0.21%
IGU $62.28 -0.72%

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