Fixed Income
Bonds
Bonds are loans to governments or companies, paying interest over time. They are considered lower risk than stocks but offer lower returns. Prices are affected by interest rates and credit risk.
Bond/ETF Table
Top 20 Bond/ETFs by Change %
| Bond/ETF | Ticker | Price | Change % ▼ | Change $ | Open | High | Low | Prev Close | Market Cap |
|---|---|---|---|---|---|---|---|---|---|
| iShares National Muni Bond ETF | MUB | $107.65 | +0.51% | +$0.55 | — | $107.68 | $107.52 | $107.10 | — |
| Vanguard Total International Bond Index Fund | BNDX | $48.53 | +0.31% | +$0.15 | — | $48.57 | $48.51 | $48.38 | — |
| State Street SPDR Bloomberg High Yield Bond ETF | JNK | $97.51 | +0.22% | +$0.21 | — | $97.64 | $97.46 | $97.30 | — |
| iShares iBoxx $ High Yield Corporate Bond ETF | HYG | $80.88 | +0.21% | +$0.17 | — | $80.97 | $80.84 | $80.71 | — |
| iShares TIPS Bond ETF | TIP | $110.25 | +0.11% | +$0.12 | — | $110.31 | $110.11 | $110.13 | — |
| iShares 1-3 Year Treasury Bond ETF | SHY | $82.89 | +0.05% | +$0.04 | — | $82.93 | $82.88 | $82.85 | — |
| iShares Core U.S. Aggregate Bond ETF | AGG | $100.12 | 0.00% | $0.00 | — | $100.20 | $100.03 | $100.12 | — |
| iShares 7-10 Year Treasury Bond ETF | IEF | $96.48 | 0.00% | $0.00 | — | $96.54 | $96.34 | $96.48 | — |
| Vanguard Short-Term Corporate Bond Index Fund ETF Shares | VCSH | $79.81 | 0.00% | $0.00 | — | $79.87 | $79.80 | $79.81 | — |
| Vanguard Total Bond Market Index Fund | BND | $74.26 | -0.01% | $0.01 | — | $74.32 | $74.20 | $74.27 | — |
| Vanguard Intermediate-Term Corporate Bond Index Fund ETF Shares | VCIT | $83.95 | -0.05% | $0.04 | — | $84.09 | $83.93 | $83.99 | — |
| iShares 20+ Year Treasury Bond ETF | TLT | $87.79 | -0.08% | $0.07 | — | $88.01 | $87.48 | $87.86 | — |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | LQD | $110.55 | -0.10% | $0.11 | — | $110.80 | $110.53 | $110.66 | — |
Key metrics
- Yield to MaturityExpected return if held to maturity; incorporates price, coupons, and time.
- DurationRate sensitivity; roughly % price change for a 1% rate move.
- Credit RatingDefault risk proxy from agencies (AAA to CCC).
Fees & costs
- Spread/markupsTypical: 0.05–1.0%Varies widely with liquidity and lot size.
Risks
- Interest rateMediumRising rates push prices down; long duration is most sensitive.
- Credit (Treasuries)LowGovernment bonds carry minimal default risk; corporates vary.
How to get exposure
- TreasuriesDirect from TreasuryDirect or via ETFs.7–10Y (IEF)Aggregate (AGG)
- Corporate/Muni fundsDiversified bond exposure via funds.
Bonds Tracker
Common mistakes and fixes
- Reaching for yield without considering duration/credit
- No laddering to match cash needs
- Ignoring after-tax returns for munis vs corporates
Fix: set target weights, automate contributions, and rebalance on schedule.
Top instruments to use
10Y TreasuryiShares Core U.S. Aggregate Bond ETF (AGG)
How to pick
- Duration fits horizon
- Credit quality appropriate
- Diversified exposures
Bonds playbook
Liability matching
- Ladder maturities to meet cash needs
- Blend duration for rate exposure
- Stick to investment grade for core
Income focus
- Add credit incrementally (IG → HY)
- Use short-duration in rising-rate regimes
- Diversify with TIPS for inflation
Risk management
- Treasurey exposure as equity hedge
- Avoid concentration by issuer
- Mind call risk and convexity
What to watch
Rate decisionsInflation printsCredit spreadsYield curve shape
Risk rules
- Define target allocation before buying
- Position size based on risk, not conviction
- Rebalance on schedule or bands
- Prefer low-cost, diversified vehicles for core
Execution tips
- Use limit orders for thin products
- Mind bid/ask spreads and liquidity windows
- Automate contributions where possible