Simplify High Yield ETF (CDX)
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CDX: Good Idea, Bad Execution
CDX ETF has outperformed peers and delivered strong returns, validating its unique quality/junk equity hedge strategy for high-yield bond exposure. Recent volatility in April highlighted the risks of basis mismatch between credit and equity hedges, but the fund ultimately recovered well. However, I am concerned by signs of 'mandate creep,' as Simplify's portfolio managers have taken positions outside the fund's stated strategy, increasing operational risk.
ETF Edge: Moody's downgrade, ETFs with hedge fund strategies and product overload
Paisley Nardini, Simplify Asset Management managing director and portfolio manager, and Dave Nadig, financial futurist, join Dom Chu on “ETF Edge” to talk about new investor optimism, ETFs adopting a hedge fund- like strategy and what these funds can do for investors now.
Cloud DX Completes First Stage of Restructuring Process
KITCHENER, ON / ACCESSWIRE / December 16, 2024 / Cloud DX Inc. ("Cloud DX") (TSXV:CDX)(OTCQB:CDXFF) today reports the sale of its wholly owned subsidiary Cloud Diagnostics Canada ULC (the "Company") to 1493907 B.C. Ltd (the "Purchaser").
CDX: High-Yield Bond ETF, Credit Hedged, Ineffective Strategy
A reader asked for my thoughts on CDX. CDX focuses on high-yield corporate bonds with a credit hedge meant to protect investor capital when credit spreads widen. CDX's credit hedges, including S&P 500 puts and credit default options, have been ineffective during past downturns and credit events.
CDX: High Yield Fund With A Wide Mandate (Rating Downgrade)
CDX has shifted from a high yield ETF with an embedded hedge to a multi-asset fund. The fund's new structure introduces higher risk, making it unsuitable as a building block for high yield portfolios. Current high yield credit spreads are at decade lows, making the macro environment unfavorable for high yield investments.
CDX: Good Way To Own High Yield Bonds
Simplify High Yield PLUS Credit Hedge ETF uses a long-short portfolio of high-quality vs. low-quality stocks to hedge credit risk, offering a positive carry credit hedge. While CDX offers protection against credit risk, it does not hedge against rising interest rates, posing a risk during periods of increasing rates. I rate CDX a buy for its potential to make high-yield bonds more palatable by mitigating downside risks from a negative credit cycle.
Hemogenyx Pharmaceuticals hails potential of new CDX antibody
Hemogenyx Pharmaceuticals PLC (LSE:HEMO, OTC:HOPHF) has announced the development of a new version of its bi-specific CDX antibody aimed at treating relapsed or refractory acute myeloid leukaemia (AML), which also shows potential for use in bone marrow transplant conditioning. The improved CDX, developed using Lonza's bYlok bispecific pairing technology, has demonstrated significantly enhanced efficacy in laboratory testing, with further animal studies currently in progress.
Credit Hedging Done Right: CDX Outperforms With Defense
The credit risk in high yield bonds tends to have more volatility and credit spreads can widen swiftly during periods of market stress, wiping out income quickly. CDX deploys credit hedging techniques to mitigate credit risk. CDX has the ability to deploy credit hedges with a direct tie to credit markets, like CDS, CDX and CDX options.
CDX: If You Want To Buy High Yield Here, Buy It Hedged
CDX outperformed competitors HYG and JNK in the past year from a total return perspective, and with a better drawdown profile. CDX utilizes put spreads on the S&P 500 to hedge downside moves, providing insurance against market losses. The fund offers a lower drawdown in a market sell-off due to its embedded hedge profile and put spreads, making it a smart choice for investors.
Cloud DX Inc. Announces Restructuring Process and the Resignation of 2 Directors
KITCHENER, ON / ACCESSWIRE / June 6, 2024 / Cloud DX Inc. ("Cloud DX") (TSXV:CDX)(OTCQB:CDXFF) today reports that its wholly-owned subsidiary, Cloud Diagnostics Canada ULC (the "Company"), with the authorization and approval of its board of directors (the "Board"), has filed a Notice of Intention to Make a Proposal ("NOI") pursuant to the provisions of the Bankruptcy and Insolvency Act (Canada). Cloud Diagnostics Canada ULC is a material subsidiary of Cloud DX Inc, accounting for most of the Company's revenues.
Cloud DX hails $9.4mln British Columbia health contract as 'milestone'
Cloud DX (TSX-V:CDX, OTCQB:CDXFF) has hailed its latest provincial health authority contract as a “critical milestone” after the contract's value of just over CA$9.4 million was confirmed. Agreed with British Columbia Provincial Health Services Authority last month, the provider has since firmed up the value of the award, Cloud DX (TSX-V:CDX, OTCQB:CDXFF) noted on Tuesday.
