Glossary
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- Jensen Index
- An index that uses the capital asset pricing model to determine whether a money manager outperformed a market index.
- Joint Clearing Members
- Firms that clear on more than one exchange.
- Junk Bond
- Bonds rated BB or below by Standard & Poor's Corporation and Ba or below by Moody's Investor Service. Junk bonds tend to be more volatile and higher yielding than bonds with higher quality ratings.
- Junk Bond Fund
- A fund that invests primarily in lower rated bonds (BB or below by Standard & Poor's Corporation and Ba or below by Moody's Investor Service), also referred to as junk bonds. Junk bond funds generally seek high returns and tend to be one of the riskier bond fund investments.
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