iShares Morningstar Multi-Asset Income ETF (BATS: IYLD)

Latest news for iShares Morningstar Multi-Asset Income ETF (BATS:IYLD)

iShares Morningstar Multi-Asset Income ETF

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The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. The index is broadly diversified and seeks to deliver high current income while maintaining long-term capital appreciation. The fund is a fund-of-funds and invests primarily in the securities of the underlying funds that themselves seek investment results corresponding to their own underlying indexes.

Ishares Iboxx High Yld Corp

Ishares Floating Rate Bond ETF

Ishares Short Term Corporate B Ishares Short Term Corporate

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Ishares Emerging Markets Dividend ETF

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Ishares Jp Morgan Em Local Currency Bond ETF

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Multi-Asset Income ETFs Aim For High Yield And Diversification

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New Multi-Asset ETF From First Trust Debuts

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iShares Trust Barclays 20+ Year Treasury Bond Fund

4 ETF Fund of Funds to Consider 

Income investing continues to be a hot topic where investment strategists fiercely debate asset allocation strategies.

	The goal is to generate an acceptable yield while maintaining a diversified approach that doesn’t severely overweigh any single asset class.

	Fortunately, there are a variety of multi-asset income ETFs that make this task easier than ever.

	The largest of the group is the Guggenheim Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/cvy#NYSE">CVY</a>), which has over $1.2 billion invested in a diversified portfolio of 150 dividend paying stocks, REITs, MLPs, closed-end funds and preferred stocks. 
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		<a href="https://www.benzinga.com/imce?app=nomatter%7Cimceload%40imceInline.load#"><img alt="cvy.png" height="284" src="https://www.benzinga.com/files/u79448/cvy.png" width="460" /></a></div>
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	The current 30-day SEC yield on CVY is 4.91 percent and dividends are paid quarterly to shareholders.  A falling interest rate environment and stable equity prices have helped to lift CVY 4.50 percent so far this year. 

	One of the <a href="http://www.benzinga.com/etfs/sector-etfs/14/03/4413843/2-diversified-etfs-for-high-monthly-income">benefits of owning a multi-asset ETF</a> such as this is that investors get instant exposure to a variety of high yield asset classes in a single investment vehicle.  This can help mitigate risks of any single sector falling out of favor.

	Another successful ETF in this space is the First Trust Multi-Asset Diversified Income Index Fund (NYSE: <a class="ticker" href="/stock/mdiv#NYSE">MDIV</a>).  This fund invests in a basket of common stocks, REITs, preferred securities, MLPs and high yield bonds. 

	MDIV differentiates itself by eschewing closed-end funds and instead focusing a portion of the portfolio on junk bonds.  The current yield is 5.67 percent and dividends are paid monthly to shareholders as another unique feature.

	See also: <a href="http://www.benzinga.com/etfs/new-etfs/14/05/4554897/two-unique-middle-east-etfs-begin-trading-uae-qat-gulf">Two Unique Middle East ETFs Begin Trading</a>

	For a portfolio that is more heavily weighted in fixed-income, iShares Morningstar Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/iyld#NYSE">IYLD</a>) deserves consideration.  This ETF is structured as a “fund of funds” that invests in other iShares fixed-income, dividend paying stock, preferred stocks, and REIT ETFs.

	The IYLD portfolio is currently structured with 60 percent bonds, 20 percent stocks, and 20 percent alternative income sources.  In addition, the fund has a global slant with nearly 20 percent of the bond exposure focused on emerging market countries. 

	The current yield of IYLD is 6.47 percent and dividends are also paid on a monthly basis.

	Each of these ETFs offers a compelling basket of dividend paying assets that is distinctive in its own way. 

	Income investors may consider using these tools to supplement core holdings or enhance their portfolio yield above a traditional common stock or fixed-income fund.

Amid the yield hunt brought on by the Federal Reserve's near-zero interest rate and loose monetary policies, multi-asset income ETFs have soared in popularity and number of available funds.

	The First Trust International Multi-Asset Diversified Income Index Fund (NASDAQ: YDIV), which debuted Friday, is the newest member of the group.

	YDIV is the international answer to the First Trust Multi-Asset Diversified Income Index Fund (NASDAQ: <a class="ticker" href="/stock/mdiv#NASDAQ">MDIV</a>). MDIV is just over a year old and has $486.1 million in assets under management. YDIV is linked to the NASDAQ International Multi-Asset Diversified Income Index.

	"The Fund provides international exposure to a diversified mix of asset classes in a single investment portfolio that 
	has built-in volatility screens. Yield is the main driver behind the index; however, within each asset class a maximum volatility cap is used that seeks to limit securities that have high yields strictly due to poor price performance. The portfolio is further diversified within each asset class. As a result, the Fund provides the potential for a lower-risk total return alternative to investing solely in one asset class, <a href="http://www.ftportfolios.com/LoadContent/ga3dec3iga">said First Trust in a statement</a>.

	Related: <a href="http://www.benzinga.com/markets/bonds/13/04/3533981/under-the-hood-an-unheralded-multi-asset-etf">Under The Hood: An Heralded Mutli-Asset ETF</a>.

	MDIV invests in common stocks and/or depositary receipts (25%), real estate investment trusts (“REITs”) (20%), preferred securities (20%), master limited partnerships (“MLPs”) (20%) and an exchange-traded fund (15%), <a href="http://www.ftportfolios.com/Retail/Etf/EtfSummary.aspx?Ticker=MDIV">according to Illinois-based First Trust</a>.

	YDIV will also invest in dividend stocks, non-U.S. infrastructure firms and a non-U.S. junk bond ETF. Dividend equities represent 25 percent of the index while REITs, infrastructure companies and preferred stocks each have allocations of 20 percent with a high-yield bond ETF <a href="http://etfdailynews.com/2013/08/22/first-trust-to-begin-trading-the-first-trust-international-multi-asset-diversified-income-index-fund-nasdaqydiv/2/">getting a weight of 15 percent</a>.

	"The Fund will seek to deliver a relatively high level of income for investors, while also providing diversification benefits to traditional fixed income portfolios," said Ryan Issakainen, Senior Vice President and ETF Strategist at First Trust, in the statement. "This diversified approach, with built-in rebalancing, may also help income-seeking investors maintain discipline during periods of volatility."

	MDIV, the domestic multi-asset product, has a 30-day SEC yield of 6.48 percent. Other <a href="http://www.benzinga.com/markets/bonds/12/08/2865979/3-multi-asset-etfs-worth-considering">popular multi-asset income ETFs</a> include the Guggenheim Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/cvy#NYSE">CVY</a>), the iShares Morningstar Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/iyld#NYSE">IYLD</a>) and the SPDR SSgA Income Allocation ETF (NYSE: <a class="ticker" href="/stock/inkm#NYSE">INKM</a>).

	For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

	Disclosure: Author is long MDIV.

So many exchange-traded products, so little time. With the number of ETFs and ETNs in the U.S. fast approaching 1,500, investors have a dizzying array of options, so it's not surprising that some indecision may creep into the selection process. 

For the indecisive among us, or for those that like the idea of owning multiple ETFs under one umbrella, an ETF fund of funds could prove to be a shrewd move. Also known as "multi-management," the fund of funds concept allows investors to have exposure to multiple asset classes under the tent of one fund. 

While this concept has proven desirable over time, many firms that sponsor ETF fund of funds don't actually advertise them as such, leaving investors to do some of the digging on their own. A good place to start is with <a href="http://www.benzinga.com/markets/bonds/12/04/2504891/4-asset-allocation-etfs-your-broker-forgot-to-mention-perm-pca">asset allocation ETFs, many of which are comprised of multiple ETFs</a>. With that, let's have a look at some of the more intriguing ETF fund of funds options on the market today.

iShares Morningstar Multi-Asset Income Index Fund (NYSE: <a class="ticker" href="/stock/iyld#NYSE">IYLD</a>)
Not even two months old, the iShares Morningstar Multi-Asset Income Index Fund is the epitome of an ETF fund of funds. The ETF features a small allocation to cash, but its other nine holdings are all other iShares products. 

The roster includes familiar funds such as the iShares iBoxx $ High Yield Corporate Bond Fund (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>), the iShares Barclays 20+ Year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/tlt#NYSE">TLT</a>), the iShares S&amp;P U.S. Preferred Stock Index Fund (NYSE: <a class="ticker" href="/stock/pff#NYSE">PFF</a>) and the iShares Dow Jones Select Dividend Index Fund (NYSE: <a class="ticker" href="/stock/dvy#NYSE">DVY</a>). That quartet represents approximately 55% of IYLD's weight. 

IYLD has risen slightly since its early April debut and has raked in $22.8 million in assets under management. Income investors should note this fund will pay a monthly dividend.

SPDR SSgA Income Allocation ETF (NYSE: <a class="ticker" href="/stock/inkm#NYSE">INKM</a>)
Another new entrant to the ETF game, the SPDR SSgA Income Allocation ETF is one of State Street Global Advisor's new actively managed products and it should be noted that the actively managed space is another area where investors can find multiple ETF fund of funds.

Just over a month old, INKM is home to 18 holdings, 17 of which are other SPDR funds. As is the case with IYLD, the roster is chock full of ETFs many investors are already familiar with. The SPDR S&amp;P Dividend ETF (NYSE: <a class="ticker" href="/stock/sdy#NYSE">SDY</a>), SPDR Barclays Capital Long CorpTerm Bond ETF (NYSE: <a class="ticker" href="/stock/lwc#NYSE">LWC</a>) and the SPDR Barclays Capital High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/jnk#NYSE">JNK</a>) account for over 43% of INKM's weight. 

Russell Equity ETF (NYSE: <a class="ticker" href="/stock/onef#NYSE">ONEF</a>)
One of the pioneers of the ETF fund of funds concept, the Russell Equity ETF is also one of the more unique and unbiased plays in this space. That is to say, ONEF is not loaded with other Russell funds. ONEF is home to 10 other ETFs, but only one, the Russell 1000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/lvol#NYSE">LVOL</a>), is a Russell fund. The other nine holdings are comprised of five Vanguard and four iShares funds with the iShares Russell 1000 Index Fund (NYSE: <a class="ticker" href="/stock/iwb#NYSE">IWB</a>) commanding over 47% of ONEF's weight. The Vanguard MSCI EAFE ETF (NYSE: <a class="ticker" href="/stock/vea#NYSE">VEA</a>) receives an allocation of over 19%.

With an expense ratio of 0.51%, ONEF is cheaper than the iShares and SPDR offerings highlighted above.

AdvisorShares Accuvest Global Opportunities ETF (NYSE: <a class="ticker" href="/stock/accu#NYSE">ACCU</a>)
Want an actively managed ETF fund of funds heavy on emerging markets? There's an ETF for that and that ETF is the AdvisorShares Accuvest Global Opportunities ETF. ACCU isn't 100% allocated to emerging markets ETFs as the iShares S&amp;P 500 Index Fund (NYSE: <a class="ticker" href="/stock/ivv#NYSE">IVV</a>) currently accounts for 13.5% of the fund's weight.

ACCU's other five ETF holdings are sure to conjure up mixed emotions among emerging markets investors. The iShares FTSE China 25 Index Fund (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>) receives a weight of almost 20% and that's fine on the basis of potential Chinese economic stimulus and on the premise that investors will embrace Chinese stocks at some point because they're cheap. We also like an almost 23% allocation, the ETF's largest, to the iShares MSCI Thailand Investable Market Index Fund (NYSE: <a class="ticker" href="/stock/thd#NYSE">THD</a>). 

What's holding ACCU back is a combined weight in excess of 26% to the iShares MSCI Brazil Index Fund (NYSE: <a class="ticker" href="/stock/ewz#NYSE">EWZ</a>) and the iShares MSCI South Africa Index Fund (NYSE: <a class="ticker" href="/stock/eza#NYSE">EZA</a>), two emerging markets that have been punishing investors recently. The iShares MSCI South Korea Index Fund (NYSE: <a class="ticker" href="/stock/ewy#NYSE">EWY</a>) is ACCU's other holding.

For more on asset allocation ETFs, please click <a href="http://www.benzinga.com/markets/bonds/12/04/2504891/4-asset-allocation-etfs-your-broker-forgot-to-mention-perm-pca">HERE</a>.

The vast majority of traditional long-only ETFs focus on just one specific asset class, be it bonds, commodities or stocks. However, multi-asset and <a href="http://www.benzinga.com/markets/bonds/12/04/2504891/4-asset-allocation-etfs-your-broker-forgot-to-mention-perm-pca">asset allocation products are increasing in number and popularity with investors who want a little bit of everything, or least more than one asset class, in their ETFs</a>.

The high-yielding Guggenheim Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/cvy#NYSE">CVY</a>) was one of the earlier entrants to the multi-asset ETF category. Nearly six years old, CVY is now home to almost $642 million in assets under management. Proving there's room for more multi-asset funds, the Global X SuperDividend ETF (NYSE: <a class="ticker" href="/stock/sdiv#NYSE">SDIV</a>) has accumulated more than $66 million in AUM in less than a year of trading.

CVY and SDIV are two of the known entities in the multi-asset ETF race, but the iShares Morningstar Multi-Asset Income Index Fund (NYSE: <a class="ticker" href="/stock/iyld#NYSE">IYLD</a>) is worthy of consideration as well. Just six weeks past its debut date, the iShares Morningstar Multi-Asset Income Index Fund is already home to $21.3 million in AUM, indicating investors are embracing this bond-heavy fund.

On that note, it should be said that IYLD is an ETF fund of funds, meaning all of its holdings are other iShares ETFs. Currently, IYLD is more than 51% to domestic fixed income funds. The iShares iBoxx $ High Yield Corporate Bond ETF (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>), the largest U.S. junk bond ETF, and accounts for over 19% of IYLD's weight while the iShares Barclays 20+ Year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/tlt#NYSE">TLT</a>) receives an allocation of 16.6%.

IYLD's other bond holdings include the iShares iBoxx $ Invest Grade Corporate Bond ETF (NYSE: <a class="ticker" href="/stock/lqd#NYSE">LQD</a>) and the iShares JPMorgan USD Emerging Markets Bond ETF (NYSE: <a class="ticker" href="/stock/emb#NYSE">EMB</a>). In other words, IYLD's bond components have some spice to them and don' revolve boring, low-yielding U.S. Treasuries. 

Roughly 29% of IYLD's weight is divided between the iShares Dow Jones Select Dividend Index Fund (NYSE: <a class="ticker" href="/stock/dvy#NYSE">DVY</a>) and the iShares S&amp;P U.S. Preferred Stock Index Fund (NYSE: <a class="ticker" href="/stock/pff#NYSE">PFF</a>). The iShares FTSE NAREIT Mortgage Plus Capped Index Fund (NYSE: <a class="ticker" href="/stock/rem#NYSE">REM</a>) garners a weight of about 5%.

Since IYLD is still a new ETF, yield information isn't yet available for the fund, but it's reasonable to assume the yield will at least be decent. HYG, PFF and REM can all easily be considered "high yielders" while DVY, EMB and LQD at the very least fall into the "decent yield" category.

Income investors may also want to consider IYLD because it appears the fund will be paying a monthly dividend. Just six weeks old, the new fund has already made one payout. 

On the downside, the ETF-of-ETFs concept isn't for everyone and while combining multiple high-yield plays under one umbrella is efficient when it comes to capital outlays, IYLD's yield could prove to be tempered relative to owning some of its constituents individually. 

By no means does that imply this is a bad ETF, it's not. It's a new fund and as is the case with every new ETF, investors have time on their side and can let IYLD mature a bit before jumping in.

After-Hours Center

iShares JPMorgan USD Emerging Markets Bond Fund

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

SDIV

Checking In: Bonds, REITs, Stocks, Oh My

IYLD: Plainly Inferior To CEFS

iShares Morningstar Multi-Asset Income ETF declares monthly distribution of $0.06416

GLO: High Yield, Big Discount

iShares Morningstar Multi-Asset Income ETF declares monthly distribution of $0.0618

iShares Morningstar Multi-Asset Income ETF declares monthly distribution of $0.0703

MDIV: Income From A Nice Mix Of Places

iShares Morningstar Multi-Asset Income ETF declares monthly distribution of $0.0617

iShares Morningstar Multi-Asset Income ETF declares monthly distribution of $0.1971

CEFS

Income investing continues to be a hot topic where investment strategists fiercely debate asset allocation strategies.

	The goal is to generate an acceptable yield while maintaining a diversified approach that doesn&rsquo;t severely overweigh any single asset class.

	Fortunately, there are a variety of multi-asset income ETFs that make this task easier than ever.

	The largest of the group is the Guggenheim Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/cvy#NYSE">CVY</a>), which has over $1.2 billion invested in a diversified portfolio of 150 dividend paying stocks, REITs, MLPs, closed-end funds and preferred stocks.&nbsp;
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	<div id="file-preview">
		<a href="https://www.benzinga.com/imce?app=nomatter%7Cimceload%40imceInline.load#" title=""><img alt="cvy.png" height="284" src="https://www.benzinga.com/files/u79448/cvy.png" width="460" /></a></div>
</div>

	The current 30-day SEC yield on CVY is 4.91 percent and dividends are paid quarterly to shareholders.&nbsp; A falling interest rate environment and stable equity prices have helped to lift CVY 4.50 percent so far this year.&nbsp;

	One of the <a href="http://www.benzinga.com/etfs/sector-etfs/14/03/4413843/2-diversified-etfs-for-high-monthly-income">benefits of owning a multi-asset ETF</a> such as this is that investors get instant exposure to a variety of high yield asset classes in a single investment vehicle.&nbsp; This can help mitigate risks of any single sector falling out of favor.

	Another successful ETF in this space is the First Trust Multi-Asset Diversified Income Index Fund (NYSE: <a class="ticker" href="/stock/mdiv#NYSE">MDIV</a>).&nbsp; This fund invests in a basket of common stocks, REITs, preferred securities, MLPs and high yield bonds.&nbsp;

	MDIV differentiates itself by eschewing closed-end funds and instead focusing a portion of the portfolio on junk bonds.&nbsp; The current yield is 5.67 percent and dividends are paid monthly to shareholders as another unique feature.

	See also: <a href="http://www.benzinga.com/etfs/new-etfs/14/05/4554897/two-unique-middle-east-etfs-begin-trading-uae-qat-gulf">Two Unique Middle East ETFs Begin Trading</a>

	For a portfolio that is more heavily weighted in fixed-income,&nbsp;iShares Morningstar Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/iyld#NYSE">IYLD</a>) deserves consideration.&nbsp; This ETF is structured as a &ldquo;fund of funds&rdquo; that invests in other iShares fixed-income, dividend paying stock, preferred stocks, and REIT ETFs.

	The IYLD portfolio is currently structured with 60 percent bonds, 20 percent stocks, and 20 percent alternative income sources.&nbsp; In addition, the fund has a global slant with nearly 20 percent of the bond exposure focused on emerging market countries.&nbsp;

	The current yield of IYLD is 6.47 percent and dividends are also paid on a monthly basis.

	Each of these ETFs offers a compelling basket of dividend paying assets that is distinctive in its own way.&nbsp;

	Income investors may consider using these tools to supplement core holdings or enhance their portfolio yield above a traditional common stock or fixed-income fund.

Amid the yield hunt brought on by the Federal Reserve&#39;s near-zero interest rate and loose monetary policies, multi-asset income ETFs have soared in popularity and number of available funds.

	The First Trust International Multi-Asset Diversified Income Index Fund (NASDAQ: YDIV), which debuted Friday, is the newest member of the group.

	YDIV is the international answer to the First Trust Multi-Asset Diversified Income Index Fund (NASDAQ: <a class="ticker" href="/stock/mdiv#NASDAQ">MDIV</a>). MDIV is just over a year old and has $486.1 million in assets under management. YDIV is linked to the NASDAQ International Multi-Asset Diversified Income Index.

	&quot;The Fund provides international exposure to a diversified mix of asset classes in a single investment portfolio that 
	has built-in volatility screens. Yield is the main driver behind the index; however, within each asset class a maximum volatility cap is used that seeks to limit securities that have high yields strictly due to poor price performance. The portfolio is further diversified within each asset class. As a result, the Fund provides the potential for a lower-risk total return alternative to investing solely in one asset class, <a href="http://www.ftportfolios.com/LoadContent/ga3dec3iga">said First Trust in a statement</a>.

	Related: <a href="http://www.benzinga.com/markets/bonds/13/04/3533981/under-the-hood-an-unheralded-multi-asset-etf">Under The Hood: An Heralded Mutli-Asset ETF</a>.

	MDIV invests in common stocks and/or depositary receipts (25%), real estate investment trusts (&ldquo;REITs&rdquo;) (20%), preferred securities (20%), master limited partnerships (&ldquo;MLPs&rdquo;) (20%) and an exchange-traded fund (15%), <a href="http://www.ftportfolios.com/Retail/Etf/EtfSummary.aspx?Ticker=MDIV">according to Illinois-based First Trust</a>.

	YDIV will also invest in dividend stocks, non-U.S. infrastructure firms and a non-U.S. junk bond ETF. Dividend equities represent 25 percent of the index while REITs, infrastructure companies and preferred stocks each have allocations of 20 percent with a high-yield bond ETF <a href="http://etfdailynews.com/2013/08/22/first-trust-to-begin-trading-the-first-trust-international-multi-asset-diversified-income-index-fund-nasdaqydiv/2/">getting a weight of 15 percent</a>.

	&quot;The Fund will seek to deliver a relatively high level of income for investors, while also providing diversification benefits to traditional fixed income portfolios,&quot; said Ryan Issakainen, Senior Vice President and ETF Strategist at First Trust, in the statement. &quot;This diversified approach, with built-in rebalancing, may also help income-seeking investors maintain discipline during periods of volatility.&quot;

	MDIV, the domestic multi-asset product, has a 30-day SEC yield of 6.48 percent. Other <a href="http://www.benzinga.com/markets/bonds/12/08/2865979/3-multi-asset-etfs-worth-considering">popular multi-asset income ETFs</a> include the Guggenheim Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/cvy#NYSE">CVY</a>), the iShares Morningstar Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/iyld#NYSE">IYLD</a>) and the SPDR SSgA Income Allocation ETF (NYSE: <a class="ticker" href="/stock/inkm#NYSE">INKM</a>).

	For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

	Disclosure: Author is long MDIV.

So many exchange-traded products, so little time. With the number of ETFs and ETNs in the U.S. fast approaching 1,500, investors have a dizzying array of options, so it's not surprising that some indecision may creep into the selection process. 

For the indecisive among us, or for those that like the idea of owning multiple ETFs under one umbrella, an ETF fund of funds could prove to be a shrewd move. Also known as "multi-management," the fund of funds concept allows investors to have exposure to multiple asset classes under the tent of one fund. 

While this concept has proven desirable over time, many firms that sponsor ETF fund of funds don't actually advertise them as such, leaving investors to do some of the digging on their own. A good place to start is with <a href="http://www.benzinga.com/markets/bonds/12/04/2504891/4-asset-allocation-etfs-your-broker-forgot-to-mention-perm-pca">asset allocation ETFs, many of which are comprised of multiple ETFs</a>. With that, let's have a look at some of the more intriguing ETF fund of funds options on the market today.

iShares Morningstar Multi-Asset Income Index Fund (NYSE: <a class="ticker" href="/stock/iyld#NYSE">IYLD</a>)
Not even two months old, the iShares Morningstar Multi-Asset Income Index Fund is the epitome of an ETF fund of funds. The ETF features a small allocation to cash, but its other nine holdings are all other iShares products. 

The roster includes familiar funds such as the iShares iBoxx $ High Yield Corporate Bond Fund (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>), the iShares Barclays 20+ Year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/tlt#NYSE">TLT</a>), the iShares S&P U.S. Preferred Stock Index Fund (NYSE: <a class="ticker" href="/stock/pff#NYSE">PFF</a>) and the iShares Dow Jones Select Dividend Index Fund (NYSE: <a class="ticker" href="/stock/dvy#NYSE">DVY</a>). That quartet represents approximately 55% of IYLD's weight. 

IYLD has risen slightly since its early April debut and has raked in $22.8 million in assets under management. Income investors should note this fund will pay a monthly dividend.

SPDR SSgA Income Allocation ETF (NYSE: <a class="ticker" href="/stock/inkm#NYSE">INKM</a>)
Another new entrant to the ETF game, the SPDR SSgA Income Allocation ETF is one of State Street Global Advisor's new actively managed products and it should be noted that the actively managed space is another area where investors can find multiple ETF fund of funds.

Just over a month old, INKM is home to 18 holdings, 17 of which are other SPDR funds. As is the case with IYLD, the roster is chock full of ETFs many investors are already familiar with. The SPDR S&P Dividend ETF (NYSE: <a class="ticker" href="/stock/sdy#NYSE">SDY</a>), SPDR Barclays Capital Long CorpTerm Bond ETF (NYSE: <a class="ticker" href="/stock/lwc#NYSE">LWC</a>) and the SPDR Barclays Capital High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/jnk#NYSE">JNK</a>) account for over 43% of INKM's weight. 

Russell Equity ETF (NYSE: <a class="ticker" href="/stock/onef#NYSE">ONEF</a>)
One of the pioneers of the ETF fund of funds concept, the Russell Equity ETF is also one of the more unique and unbiased plays in this space. That is to say, ONEF is not loaded with other Russell funds. ONEF is home to 10 other ETFs, but only one, the Russell 1000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/lvol#NYSE">LVOL</a>), is a Russell fund. The other nine holdings are comprised of five Vanguard and four iShares funds with the iShares Russell 1000 Index Fund (NYSE: <a class="ticker" href="/stock/iwb#NYSE">IWB</a>) commanding over 47% of ONEF's weight. The Vanguard MSCI EAFE ETF (NYSE: <a class="ticker" href="/stock/vea#NYSE">VEA</a>) receives an allocation of over 19%.

With an expense ratio of 0.51%, ONEF is cheaper than the iShares and SPDR offerings highlighted above.

AdvisorShares Accuvest Global Opportunities ETF (NYSE: <a class="ticker" href="/stock/accu#NYSE">ACCU</a>)
Want an actively managed ETF fund of funds heavy on emerging markets? There's an ETF for that and that ETF is the AdvisorShares Accuvest Global Opportunities ETF. ACCU isn't 100% allocated to emerging markets ETFs as the iShares S&P 500 Index Fund (NYSE: <a class="ticker" href="/stock/ivv#NYSE">IVV</a>) currently accounts for 13.5% of the fund's weight.

ACCU's other five ETF holdings are sure to conjure up mixed emotions among emerging markets investors. The iShares FTSE China 25 Index Fund (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>) receives a weight of almost 20% and that's fine on the basis of potential Chinese economic stimulus and on the premise that investors will embrace Chinese stocks at some point because they're cheap. We also like an almost 23% allocation, the ETF's largest, to the iShares MSCI Thailand Investable Market Index Fund (NYSE: <a class="ticker" href="/stock/thd#NYSE">THD</a>). 

What's holding ACCU back is a combined weight in excess of 26% to the iShares MSCI Brazil Index Fund (NYSE: <a class="ticker" href="/stock/ewz#NYSE">EWZ</a>) and the iShares MSCI South Africa Index Fund (NYSE: <a class="ticker" href="/stock/eza#NYSE">EZA</a>), two emerging markets that have been punishing investors recently. The iShares MSCI South Korea Index Fund (NYSE: <a class="ticker" href="/stock/ewy#NYSE">EWY</a>) is ACCU's other holding.

For more on asset allocation ETFs, please click <a href="http://www.benzinga.com/markets/bonds/12/04/2504891/4-asset-allocation-etfs-your-broker-forgot-to-mention-perm-pca">HERE</a>.

The vast majority of traditional long-only ETFs focus on just one specific asset class, be it bonds, commodities or stocks. However, multi-asset and <a href="http://www.benzinga.com/markets/bonds/12/04/2504891/4-asset-allocation-etfs-your-broker-forgot-to-mention-perm-pca">asset allocation products are increasing in number and popularity with investors who want a little bit of everything, or least more than one asset class, in their ETFs</a>.

The high-yielding Guggenheim Multi-Asset Income ETF (NYSE: <a class="ticker" href="/stock/cvy#NYSE">CVY</a>) was one of the earlier entrants to the multi-asset ETF category. Nearly six years old, CVY is now home to almost $642 million in assets under management. Proving there's room for more multi-asset funds, the Global X SuperDividend ETF (NYSE: <a class="ticker" href="/stock/sdiv#NYSE">SDIV</a>) has accumulated more than $66 million in AUM in less than a year of trading.

CVY and SDIV are two of the known entities in the multi-asset ETF race, but the iShares Morningstar Multi-Asset Income Index Fund (NYSE: <a class="ticker" href="/stock/iyld#NYSE">IYLD</a>) is worthy of consideration as well. Just six weeks past its debut date, the iShares Morningstar Multi-Asset Income Index Fund is already home to $21.3 million in AUM, indicating investors are embracing this bond-heavy fund.

On that note, it should be said that IYLD is an ETF fund of funds, meaning all of its holdings are other iShares ETFs. Currently, IYLD is more than 51% to domestic fixed income funds. The iShares iBoxx $ High Yield Corporate Bond ETF (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>), the largest U.S. junk bond ETF, and accounts for over 19% of IYLD's weight while the iShares Barclays 20+ Year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/tlt#NYSE">TLT</a>) receives an allocation of 16.6%.

IYLD's other bond holdings include the iShares iBoxx $ Invest Grade Corporate Bond ETF (NYSE: <a class="ticker" href="/stock/lqd#NYSE">LQD</a>) and the iShares JPMorgan USD Emerging Markets Bond ETF (NYSE: <a class="ticker" href="/stock/emb#NYSE">EMB</a>). In other words, IYLD's bond components have some spice to them and don' revolve boring, low-yielding U.S. Treasuries. 

Roughly 29% of IYLD's weight is divided between the iShares Dow Jones Select Dividend Index Fund (NYSE: <a class="ticker" href="/stock/dvy#NYSE">DVY</a>) and the iShares S&P U.S. Preferred Stock Index Fund (NYSE: <a class="ticker" href="/stock/pff#NYSE">PFF</a>). The iShares FTSE NAREIT Mortgage Plus Capped Index Fund (NYSE: <a class="ticker" href="/stock/rem#NYSE">REM</a>) garners a weight of about 5%.

Since IYLD is still a new ETF, yield information isn't yet available for the fund, but it's reasonable to assume the yield will at least be decent. HYG, PFF and REM can all easily be considered "high yielders" while DVY, EMB and LQD at the very least fall into the "decent yield" category.

Income investors may also want to consider IYLD because it appears the fund will be paying a monthly dividend. Just six weeks old, the new fund has already made one payout. 

On the downside, the ETF-of-ETFs concept isn't for everyone and while combining multiple high-yield plays under one umbrella is efficient when it comes to capital outlays, IYLD's yield could prove to be tempered relative to owning some of its constituents individually. 

By no means does that imply this is a bad ETF, it's not. It's a new fund and as is the case with every new ETF, investors have time on their side and can let IYLD mature a bit before jumping in.

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iShares Morningstar Multi-Asset Income ETF

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