What is a bond ETF's SEC yield?

SEC yield is a standardized calculation used to estimate a bond fund's current yield based on its income and expenses over a recent period, annualized. It's meant to allow comparisons across bond funds.

It's usually more informative for bond funds than trailing distribution yield because it aims to reflect current portfolio yield rather than past payouts that may not persist.

Still, it's not a guarantee. Future distributions can change as holdings roll, rates move, and credit spreads shift. Use SEC yield as a comparison tool, alongside duration and credit quality.