What Is the IQHI ETF? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
The NYLI MacKay High Income ETF (IQHI) targets US high yield bond income and is defined by an active approach that combines macro assessment with issuer-level credit analysis. It is a product worth reviewing for income-oriented investors, including those who follow related stocks, who prioritize regular distributions.
SubscribeWhat Is the NYLI MacKay High Income ETF?
This is an active bond ETF that holds US high yield bonds as its core assets and seeks to maximize current income. Rather than tracking an index directly, the management team analyzes the credit condition of individual issuers and selects securities accordingly.
It suits income-focused investors who want high interest income and trust an active credit selection strategy.
The ETF is actively managed by New York Life Investments.
How Does the NYLI MacKay High Income ETF Invest?
| Item | Details |
|---|---|
| Tracking Index | Bloomberg US Aggregate Bond Index (reference benchmark) |
| Management Style | Active (security selection based on credit analysis) |
| Rebalancing Frequency | At the management team's discretion |
| Distribution Frequency | Monthly distributions |
| Total Expense Ratio | 0.41% |
By combining a macro overlay with bottom-up credit analysis, the fund selects high yield issuers that are undervalued yet have improving outlooks. Instead of replicating the benchmark, the management team adjusts weightings at its own discretion.
- Active credit selection strategy
- Monthly distribution income structure
NYLI MacKay High Income ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $110.6M, and the total expense ratio is 0.41% per year.
Unlike the bond ETFs shown alongside it in the table, it does not track an index directly. Its active structure, in which the management team selects securities at its own discretion, is what sets it apart.
NYLI MacKay High Income ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeHigh yield bond prices fluctuate with interest rates and credit spread conditions, and this ETF's returns likewise move in line with changes in the credit condition of its holdings' issuers.
While the high interest rate environment persists, income demand is keeping interest in high yield bond products alive, though fund flows may vary depending on credit spread movements.
NYLI MacKay High Income ETF Pros and Cons
Its strength is the pursuit of high interest income through active credit selection, while its weakness is the credit risk inherent in high yield bonds.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products to the NYLI MacKay High Income ETF
The BNDX and IUSB products shown in the table are broad bond ETFs focused on investment-grade debt, while BINC, PYLD and JCPB are multi-sector active bond ETFs that span several bond sectors and serve as comparisons for this ETF's management style. Within the same high yield bond category, other alternatives worth reviewing include the large passive products HYG and JNK, the low-fee alternative USHY, the shorter-maturity SHYG, and ANGL, which holds fallen angels (bonds whose credit ratings have been downgraded).
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 BNDX | Vanguard Total International Bond ETF | $47.47 | -0.4% | $85.5B | 0.07% | 4.65% | -4.4% |
 IUSB | iShares Core Universal USD Bond ETF | $44.68 | -0.6% | $50.6B | 0.06% | 4.36% | -4.3% |
 JCPB | JPMorgan Core Plus Bond ETF | $45.33 | -0.7% | $17.7B | 0.37% | 4.99% | -4.5% |
 BINC | iShares Flexible Income Active ETF | $50.75 | -0.3% | $17.1B | 0.40% | 5.76% | -4.2% |
 PYLD | PIMCO Multisector Bond Active ETF | $25.54 | -0.6% | $17.0B | 0.64% | 6.1% | -4.2% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 CHTR | Charter Communications Inc | 0.02% | $134.06 | +10.6% | $21.5B | 13.9 | 0.06% |
 CRK | Comstock Resources Inc | 0.01% | $14.42 | +4.7% | $4.2B | 10.2 | - |
 TEX | Terex Corp | 0.01% | $57.05 | -1.7% | $6.4B | 29.3 | 1.16% |
 XIFR | XPLR Infrastructure LP | 0.01% | $7.13 | -2.6% | $1.4B | 4.5 | - |
| RKT | Rocket Companies Inc | 0.01% | $14.45 | -4.9% | $41.0B | 31.5 | - |
 SATS | Strive Inc - 15% PRF PERPETUAL USD 100 - Ser A SATS Stock | 0.01% | $95.49 | +0.1% | $2.7B | - | 0.07% |
 POST | Post Holdings Inc | 0.01% | $81.83 | -0.5% | $3.6B | 15.0 | - |
NYLI MacKay High Income ETF Investor Checkpoints
Here are the points to review before investing in IQHI. Because it is an active high yield bond product in which the management team picks securities at its own discretion rather than replicating a benchmark, investors should examine credit risk, distribution stability and management performance together.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fee level, given the nature of active bond ETFs | Needs verification |
| 📉 Credit Risk | Review the credit rating distribution of holdings' issuers | Mainly high yield |
| 📆 Distribution Stability | Confirm whether monthly distributions continue | Monthly distributions maintained |
| 🎯 Management Performance | Track the active management team's performance versus the benchmark | Needs verification |
The core risks are the credit risk inherent in high yield bonds and price volatility driven by interest rate changes. In periods when credit spreads widen sharply, short-term losses can grow.
This is a high yield bond ETF suited to investors who want monthly income through active credit selection. Approach it after confirming that you can tolerate credit risk and that the active management fee is reasonable.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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