HYLS Stock Discussion
First Trust High Yield Long/Short ETF Description
The investment seeks current income; capital appreciation is the secondary objective. Under normal market conditions, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in high yield debt securities that are rated below investment grade. It may invest up to 10% of its net assets (plus the amount of any borrowing for investment purposes) in non-U.S. securities denominated in non-U.S. currencies. The fund may invest in non-income producing securities including Distressed Securities and common stocks. It invests no more than 15% of its net assets in Distressed Securities.
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