iShares iBoxx $ High Yield Corporate Bond ETF (HYG)

HYG has lost roughly a quarter of its value so far this year.

What is going on right now?

Its price is sitting right around where it's been over the past few weeks, but it's still noticeably below where it was a couple of months ago. Trading activity has been a bit quieter than usual lately.

How is the business itself doing?

This is a big basket of loans to companies that pay higher interest because they're seen as less reliable borrowers. About 58% of those loans go to the stronger slice of that group, while around 8% go to the shakiest.

What stands out?

Over three years it returned roughly 8% per year on average, but this year alone it's down about 28%. That gap is striking.

What comes next?

Wider worries about an economic slowdown could directly squeeze the companies whose debt fills this basket, since they depend most on steady business to keep paying.