Fidelity International expands climate range with high yield bond ETF

High yield corporate bonds

Fidelity International has added a new strategy to its climate-focused solutions range, the Fidelity Sustainable Global High Yield Bond Paris-Aligned Multifactor UCITS ETF.

The ETF will track the Solactive Paris Aligned Global Corporate High Yield USD index and invest in a diversified portfolio of high yield bonds. It will target a level of emission intensity 50% lower than an equivalent global market universe and an annual decarbonisation rate of 7%. The London-listed strategy will also exclude companies involved in industries such as weapons, thermal coal, oil sands, arctic oil and gas, or tobacco production. The ETF's annual US unhedged fees are of 0.35%. Fidelity sheds carbon cutting fund name Nick King, head of ETFs at Fidelity International, sai...