Weakness in AB Corporate Bond ETF's Process and People Pillar ratings limits this strategy to a Morningstar Medalist Rating of Negative. The portfolio maintains a sizable cost advantage over competitors, priced within the cheapest fee quintile among peers.  

 The strategy gets a Low Process Pillar rating. The strategy suffers from its inexperienced portfolio management team. This largely drives the strategy's Below Average People Pillar rating. The strategy's parent organization earns the firm an Average Parent Pillar rating, and this rating is inherited from vehicles belonging to the same branding entity and is indirectly assigned by an analyst.

Analyst Rating

Morningstar's style-agnostic investment process evaluation looks for strategies that should be able to outperform their Morningstar Category index on a risk-adjusted basis over time. AB Corporate Bond ETF earns a Low Process Pillar rating.    The main driver of the rating is the experience of the management team, which averages seven months at this fund. The parent firm's five-year risk-adjusted success ratio of 41% also holds the rating back. The measure indicates the percentage of a firm's funds that survived and outperformed their respective category's median Morningstar Risk-Adjusted Return for the period. The parent's relatively low success ratio suggests that the firm could do better across its fund lineup. The parent firm's risk-adjusted performance, as shown by its average 10-year Morningstar Rating of 3.0 stars, detracts from the rating as well. A lower star rating suggests that the firm has struggled to outperform on a risk-adjusted basis.

 Compared with other funds in the Corporate Bond Morningstar Category, this fund, historically, hews closely to peers' credit and interest-rate sensitivity over the past few years. Moreover, it displays no significant biases in terms of credit quality, bond sectors, or maturity when compared to its category peers in recent years.   

  The portfolio's average surveyed credit quality is on par with peers, with both the fund and the average being rated BBB.

Process

AB Corporate Bond ETF earns a Below Average People Pillar rating. The team benefits from the strategy's costs, which rank in its category's second cheapest quintile. A higher expense ratio reduces net returns, so low costs give this team an advantage. However, the rating is weakened by the parent firm's five-year success ratio of 42%. The measure indicates the percentage of a firm's funds that survived and outperformed their respective category's median return for the period. The parent's relatively low success ratio suggests that the firm could do better across its fund lineup. The number of months that the management team has been running this vehicle together also holds the rating back. Since this is a newly incepted product, more time is needed to monitor the team's capability at executing the strategy.


None of the portfolio managers here invest in this fund. This hurts the rating because manager investment would align their interests with the strategy's investors.

Below Average

People

AB remains focused on areas where it can build a sustainable advantage amid the pressure on active management, but adaptations have yet to quell long-held concerns. It earns an Average Parent rating.

AB, which had $742 billion in assets and 4,050 employees as of September 2021, is in the midst of moving its sales and back-office operations to Nashville, Tennessee, by 2024, with 1,250 roles slated to move. As of late-2021, there were 930 staff in the city. AB's investment staff will remain in New York, though some have volunteered to relocate. While AB continues to cut costs, it also seeks to invest in areas such as alternatives, private wealth management, technology, and environmental, social, and governance. Despite the headwinds to active management, AB has seen positive open-end flows in recent years.

AB's fixed-income platform remains an area of strength and has seen some notable tech innovations such as Alfa (a liquidity platform) and Abbie (a virtual bond trading assistant), though it's harder to point to the collective strengths of the equity division's group of boutique-like teams. Departures remain elevated; the firm abruptly announced the departure of seven fixed-income portfolio managers and economists in October 2021 as part of a revamp to focus on ESG and tech initiatives. Still, the depth of investment teams remains largely intact because of promotions and external hires.

Average

Parent

AB Corporate Bond ETF

Kiora Pharmaceuticals, Inc. is a clinical stage specialty pharmaceutical company, which engages in the development and commercialization of products for treating diseases and disorders of the eye. Its pipeline includes KIO-301, which is designed to restore vision in patients with inherited and age-related degenerative retinal disease, KIO-101 for patients with Ocular Presentation of Rheumatoid Arthritis, KIO-201 for patients undergoing PRK surgery for corneal wound repair after refractive surgery, and KIO-102. The company was founded in 1998 and is headquartered in Encinitas, CA.

EYEG is an actively managed fund that invests in USD-denominated, investment grade corporate bonds of any maturity or duration.

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EyeGate adds Bayon Therapeutics' portfolio of vision-restoring small molecules to its development pipeline EyeGate adds Bayon Therapeutics' portfolio of vision-restoring small molecules to its development pipeline

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WALTHAM, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) -- EyeGate Pharmaceuticals, Inc. (NASDAQ: EYEG), (“EyeGate” or the “Company”), a clinical-stage specialty pharmaceutical company developing and commercializing products for treating ophthalmic diseases, today announced that EyeGate's President and Chief Executive Officer, Brian M. Strem, Ph.D., will provide a corporate update and participate in one-on-one investor meetings at the H.C. Wainwright 23rd Annual Global Investment Conference to be held September 13-15, 2021.

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-Proof-of-concept study conducted in Austria; Study designed to build upon positive Phase 1 safety data in healthy volunteers-

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WALTHAM, Mass., Aug. 10, 2021 (GLOBE NEWSWIRE) -- EyeGate Pharmaceuticals, Inc. (NASDAQ: EYEG) (“EyeGate” or the “Company”), a clinical-stage company developing and commercializing products for treating inflammatory and immune diseases with a focus on the eye and certain systemic diseases, today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale, in a registered direct offering priced at-the-marked under Nasdaq rules, of 4,668,844 shares of its common stock at a purchase price of $2.3025 per share for gross proceeds of approximately $10.75 million, before deducting placement agent's fees and other offering expenses. The Company has also agreed to issue to the investors, in a concurrent private placement, unregistered warrants to purchase up to an aggregate of 2,334,422 shares of common stock.  The closing of the offering is expected to occur on or about August 11, 2021, subject to the satisfaction of customary closing conditions.

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News for AB Corporate Bond ETF ETF (EYEG)