AllianceBernstein has launched an active exchange-traded fund (ETF), the AB High Yield ETF (HYFI), on the New York Stock Exchange. HYFI aims to maximize total return consistent with prudent investment management by investing at least 80% of its net assets in US high-yield corporate bonds and related derivatives. It emphasizes broad diversification, dynamic beta exposures, and AB’s quantitative and fundamental research to provide income. The ETF is managed by a team of fixed-income experts, and it represents the firm’s first mutual fund to ETF conversion. The planned conversion of AB High Yield Portfolio into AB High Yield ETF was first announced in February.