

The Vanguard Long-Term Bond ETF (BLV) fell about 12% in 12 months as the 30-year Treasury yield touched 5.62%, its highest level since 2002, and the Fed raised rates in September. With a duration of about 13 years, each 50 bp move in long-term yields shifts the price by roughly 6.5%. The portfolio is composed by 53.5% Treasuries and the rest mostly A and BBB-rated corporates, so the risk is mainly rates rather than credit.



The Vanguard Long-Term Bond ETF (NYSEARCA:BLV) is the kind of fund retirees gravitate toward: a long-duration, investment-grade bond index ETF that has paid a monthly distribution for 230 consecutive months since May 2007.




Bank of Hawaii grew its stake in shares of Vanguard Long-Term Bond ETF (NYSEARCA:BLV) by 27.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 35,289 shares of the company's stock after acquiring an additional 7,520 shares during the period. Bank of Hawaii's holdings in