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XB

BondBloxx B Rated USD High Yield Corporate Bond ETF

Net asset value

$39.37

EXPENSE RATIO

0.30%

Yield to Maturity

7.95%

30-Day Sec Yield

7.72%
ALL DATA AS OF 02/27/2024, UNLESS OTHERWISE STATED. 30-DAY SEC YIELD AS OF 01/31/2024. The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance please visit the performance section of this page.

Overview

BondBloxx B Rated USD High Yield Corporate Bond ETF seeks to track the investment results of the ICE BofA Single-B US Cash Pay High Yield Constrained Index (the “Index”), which contains all bonds in the ICE BofA US Cash Pay High Yield Index (the “Underlying Index”) that are rated B1 through B3, based on an average of Moody’s Investors Services Inc. (“Moody’s”), S&P Global Ratings (“S&P”) and Fitch Ratings, Inc. (“Fitch”), but caps issuer exposure at 2%.

Sub-Sector

Fund Details

Product Name BondBloxx B Rated USD High Yield Corporate Bond ETF
Ticker XB
CUSIP 09789C804
Asset Class Fixed Income
Fund Inception Date 5/26/2022
Exchange NYSE Arca
Distribution Frequency Monthly
Fund Net Assets $13,778,617
Shares Outstanding 350,000
Median Spread 0.58%
Premium Discount Ratio 0.20%
Closing Price as of 02/27/2024 $39.45

Fees

Management Fee 0.30%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.30%

Portfolio Characteristics

Number of Securities 615
Number of Issuers 383
Average Coupon 6.34%
Average Maturity 4.42 Years
* 30-Day SEC Yield is as of 01/31/2024
Yield to Maturity 7.95%
Yield to Worst 7.81%
Option Adjusted Spread 322
Spread Duration 2.85
30-Day SEC Yield* 7.72%

Portfolio Breakdown

Corporate 97%
Cash and Equivalents 3.2%
Due to rounding, these values may exceed 100%

Index Details

Provider Name ICE Data Services
Index ICE BofA Single-B US Cash Pay High Yield Constrained Index
Index Ticker JUC2
Index Market Cap $506.252B

Maturity Breakdown %

Credit Rating Breakdown %

ICE composite credit quality ratings are based on an average of Moody’s, S&P and Fitch. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB1 and below. Ratings and portfolio credit quality may change over time. A triple-A (AAA) is the highest credit quality, and C or D (depending on the agency issuing the rating) is the lowest or junk quality.

Holdings

Name Weight
Cash and Equivalents 3.20 %
CSC Holdings LLC 1.90 %
Carnival Corporation 1.51 %
Community Health Systems Incorporated 1.45 %
TransDigm Inc. 1.34 %
Mozart Debt Merger Subordinated Inc. 1.31 %
Altice France S.A 1.29 %
Royal Caribbean Group 1.26 %
Caesars Entertainment Inc New 1.24 %
Bombardier Inc. 1.17 %
Name CUSIP Market Value % of Net Assets
CASH CASH $441,142.24 3.200 %
MEDLINE BORROW 3.875% 04/01/29 62482BAA0 $114,111.01 0.830 %
CLOUD SOFTWARE G 6.5% 03/31/29 88632QAE3 $105,435.96 0.770 %
DISH NETWORK C 11.75% 11/15/27 25470MAG4 $97,344.03 0.710 %
CARNIVAL CORP 5.75% 03/01/27 143658BN1 $88,988.31 0.650 %
UNITI GROUP/CSL 10.5% 02/15/28 91327TAA9 $75,730.55 0.550 %
HUB INTERNATIO 7.375% 01/31/32 44332PAJ0 $76,133.51 0.550 %
MAUSER PACKAGI 7.875% 08/15/26 57763RAB3 $76,346.83 0.550 %
1011778 BC / NEW R 4% 10/15/30 68245XAM1 $71,839.75 0.520 %
TENET HEALTHCA 6.125% 10/01/28 88033GDK3 $71,181.98 0.520 %
DAVITA INC 4.625% 06/01/30 23918KAS7 $71,383.69 0.520 %
NEPTUNE BIDCO U 9.29% 04/15/29 640695AA0 $68,559.89 0.500 %
HUB INTERNATION 7.25% 06/15/30 44332PAH4 $67,200.67 0.490 %
MEDLINE BORROWE 5.25% 10/01/29 62482BAB8 $66,587.74 0.480 %
DISH DBS CORP 5.25% 12/01/26 25470XBE4 $64,501.00 0.470 %
OLYMPUS WTR US 9.75% 11/15/28 25259KAA8 $60,513.56 0.440 %
CARNIVAL HLDG 10.375% 05/01/28 14366RAA7 $56,164.45 0.410 %
CAESARS ENTERTAIN 7% 02/15/30 12769GAB6 $56,509.91 0.410 %
SS&C TECHNOLOGIE 5.5% 09/30/27 78466CAC0 $55,001.16 0.400 %
STAPLES INC 7.5% 04/15/26 855030AN2 $54,365.30 0.390 %
POST HOLDINGS IN 5.5% 12/15/29 737446AP9 $53,271.30 0.390 %
ALTICE FINANCIN 5.75% 08/15/29 02154CAH6 $51,947.10 0.380 %
DISH DBS CORP 5.75% 12/01/28 25470XBF1 $52,745.32 0.380 %
CSC HOLDINGS L 11.75% 01/31/29 126307BN6 $52,648.61 0.380 %
TENNECO INC 8% 11/17/28 880349AU9 $50,468.77 0.370 %
ALTICE FRANCE 5.125% 07/15/29 02156LAF8 $50,785.47 0.370 %
BOMBARDIER INC 7.875% 04/15/27 097751BT7 $51,442.47 0.370 %
TRANSDIGM INC 5.5% 11/15/27 893647BL0 $49,179.80 0.360 %
CHS/COMMUNITY HEAL 8% 03/15/26 12543DBC3 $49,330.26 0.360 %
UNIVISION COMM 6.625% 06/01/27 914906AU6 $49,400.89 0.360 %
ORGANON & CO/O 5.125% 04/30/31 68622TAB7 $48,336.86 0.350 %
ALTICE FRANCE SA 5.5% 10/15/29 02156LAH4 $47,121.01 0.340 %
CLARIOS GLOBAL L 8.5% 05/15/27 69867DAC2 $46,276.49 0.340 %
FRONTIER COMMUNICA 5% 05/01/28 35906ABF4 $46,995.03 0.340 %
WEATHERFORD IN 8.625% 04/30/30 947075AU1 $47,276.32 0.340 %
CHS/COMMUNITY 5.625% 03/15/27 12543DBG4 $46,924.62 0.340 %
ALLIED UNIVERS 6.625% 07/15/26 019576AA5 $47,255.00 0.340 %
ALTICE FRANCE 8.125% 02/01/27 02156LAA9 $46,199.91 0.340 %
ROYAL CARIBBEAN 5.5% 04/01/28 780153BG6 $45,169.67 0.330 %
CARNIVAL CORP 6% 05/01/29 143658BR2 $44,784.66 0.330 %
CSC HOLDINGS LLC 6.5% 02/01/29 126307AZ0 $43,881.50 0.320 %
TK ELEVATOR US 5.25% 07/15/27 92537RAA7 $43,297.75 0.310 %
BAUSCH HEALTH CO 5.5% 11/01/25 91911KAN2 $42,522.42 0.310 %
BAUSCH + LOMB 8.375% 10/01/28 071705AA5 $43,148.53 0.310 %
UBER TECHNOLOGIE 4.5% 08/15/29 90353TAK6 $42,221.26 0.310 %
CAESARS ENTERT 8.125% 07/01/27 28470RAK8 $41,571.14 0.300 %
ATLAS LUXCO 4 4.625% 06/01/28 019579AA9 $40,708.13 0.300 %
CHART INDUSTRIES 7.5% 01/01/30 16115QAF7 $41,415.44 0.300 %
FRONTIER COMMU 5.875% 10/15/27 35906ABE7 $39,431.88 0.290 %
CARNIVAL CORP 7.625% 03/01/26 143658BL5 $40,538.80 0.290 %
BAUSCH HEALTH COS 11% 09/30/28 071734AQ0 $40,162.22 0.290 %
TENET HEALTHCAR 6.25% 02/01/27 88033GDS6 $40,088.19 0.290 %
TRANSDIGM INC 6.75% 08/15/28 893647BR7 $40,534.71 0.290 %
CAESARS ENTERTAI 6.5% 02/15/32 12769GAC4 $40,467.26 0.290 %
SPIRIT AEROSYST 9.75% 11/15/30 85205TAR1 $38,357.89 0.280 %
ROYAL CARIBBE 11.625% 08/15/27 780153BL5 $38,030.13 0.280 %
CALPINE CORP 5.125% 03/15/28 131347CN4 $38,942.39 0.280 %
TRIUMPH GROUP INC 9% 03/15/28 896818AU5 $38,050.46 0.280 %
CSC HOLDINGS LLC 4.5% 11/15/31 126307BH9 $38,056.75 0.280 %
WINDSTREAM ESCR 7.75% 08/15/28 97382WAA1 $37,192.81 0.270 %
COMMSCOPE INC 6% 03/01/26 20338QAD5 $36,637.20 0.270 %
CHS/COMMUNITY H 5.25% 05/15/30 12543DBM1 $36,553.00 0.270 %
CSC HOLDINGS LLC 5.5% 04/15/27 126307AQ0 $36,875.58 0.270 %
BRAND INDUSTR 10.375% 08/01/30 104931AA8 $37,588.64 0.270 %
ARCHROCK PARTNE 6.25% 04/01/28 03959KAC4 $35,149.48 0.260 %
FRONTIER COMMUN 8.75% 05/15/30 35908MAD2 $36,473.81 0.260 %
WAND NEWCO 3 I 7.625% 01/30/32 933940AA6 $36,292.57 0.260 %
ALLIANT HOLD / 6.75% 04/15/28 01883LAE3 $35,961.15 0.260 %
CITGO PETROLEUM CO 7% 06/15/25 17302XAK2 $35,394.30 0.260 %
CALPINE CORP 5% 02/01/31 131347CQ7 $35,951.00 0.260 %
POST HOLDINGS IN 4.5% 09/15/31 737446AR5 $35,508.17 0.260 %
UNIVISION COMMUNIC 8% 08/15/28 914906AY8 $35,210.92 0.260 %
GENESIS ENERGY LP/ 8% 01/15/27 37185LAM4 $35,617.14 0.260 %
ALLIANT HOLD / CO- 7% 01/15/31 01883LAF0 $35,402.64 0.260 %
NGL ENRGY OP/F 8.375% 02/15/32 62922LAD0 $35,769.36 0.260 %
SELECT MEDICAL 6.25% 08/15/26 816196AT6 $35,057.22 0.250 %
HERC HOLDINGS IN 5.5% 07/15/27 42704LAA2 $34,543.50 0.250 %
PRIME SECSRVC B 6.25% 01/15/28 74166MAE6 $34,892.11 0.250 %
POST HOLDINGS 5.625% 01/15/28 737446AN4 $34,687.01 0.250 %
LIVE NATION ENT 4.75% 10/15/27 538034AR0 $34,026.08 0.250 %
CHURCHILL DOWNS 5.75% 04/01/30 12511VAA6 $34,487.71 0.250 %
PERFORMANCE FOOD 5.5% 10/15/27 69346VAA7 $34,987.81 0.250 %
CARNIVAL CORP 10.5% 06/01/30 143658BS0 $33,475.89 0.240 %
CAESARS ENTERT 4.625% 10/15/29 12769GAA8 $32,501.56 0.240 %
EG GLOBAL FINANCE 12% 11/30/28 28228PAC5 $32,402.75 0.240 %
CLEAR CHANNEL 5.125% 08/15/27 18453HAA4 $32,970.94 0.240 %
ARDAGH PKG FIN 4.125% 08/15/26 03969AAN0 $32,676.60 0.240 %
ZAYO GROUP HOLDING 4% 03/01/27 98919VAA3 $33,135.20 0.240 %
COMPASS GROUP D 5.25% 04/15/29 20451RAB8 $33,616.23 0.240 %
C&W SENIOR FIN 6.875% 09/15/27 12674TAA4 $33,336.86 0.240 %
MOHEGAN TRIBAL GAM 8% 02/01/26 608328BH2 $33,158.13 0.240 %
LIFEPOINT HEALTH 11% 10/15/30 53219LAW9 $32,985.20 0.240 %
ALTICE FRANCE SA 5.5% 01/15/28 02156LAC5 $33,516.94 0.240 %
UBER TECHNOLOGIE 7.5% 09/15/27 90353TAE0 $31,709.86 0.230 %
VALARIS LTD 8.375% 04/30/30 91889FAC5 $31,745.59 0.230 %
H&E EQUIPMENT 3.875% 12/15/28 404030AJ7 $31,863.26 0.230 %
BORR IHC LTD / BO 10% 11/15/28 100018AA8 $32,141.41 0.230 %
COMSTOCK RESOUR 6.75% 03/01/29 205768AS3 $32,294.25 0.230 %
TELECOM ITALIA 7.721% 06/04/38 87927VAV0 $31,322.63 0.230 %
EQUIPMENTSHARE.COM 9% 05/15/28 29450YAA7 $31,578.30 0.230 %
ITT HOLDINGS LLC 6.5% 08/01/29 45074JAA2 $31,541.66 0.230 %
TRANSDIGM INC 6.875% 12/15/30 893647BS5 $30,912.93 0.220 %
WYNN LAS VEGAS 5.25% 05/15/27 983130AX3 $29,820.80 0.220 %
COINBASE GLOBA 3.375% 10/01/28 19260QAC1 $29,871.93 0.220 %
GRAY TELEVISIO 5.375% 11/15/31 389286AA3 $30,218.11 0.220 %
PETSMART INC/PE 7.75% 02/15/29 71677KAB4 $29,745.38 0.220 %
ASCENT RESOURCES/A 7% 11/01/26 04364VAG8 $30,722.58 0.220 %
ILIAD HOLDING SA 6.5% 10/15/26 449691AA2 $30,450.86 0.220 %
WR GRACE HOLDI 4.875% 06/15/27 92943GAD3 $28,874.10 0.210 %
SERVICE PROPERT 5.25% 02/15/26 44106MAV4 $29,190.83 0.210 %
CINEMARK USA IN 5.25% 07/15/28 172441BF3 $28,256.12 0.210 %
NCL CORPORATIO 5.875% 02/15/27 62886HBE0 $29,602.61 0.210 %
HAWAIIAN BRAND 5.75% 01/20/26 41984LAA5 $28,511.68 0.210 %
KENNEDY-WILSON 4.75% 03/01/29 489399AL9 $28,573.30 0.210 %
ENCOMPASS HEALTH 4.5% 02/01/28 29261AAA8 $28,514.39 0.210 %
ARAMARK SERVICES I 5% 02/01/28 038522AQ1 $28,953.61 0.210 %
TRIVIUM PACKAGIN 5.5% 08/15/26 89686QAA4 $29,518.81 0.210 %
VOC ESCROW LTD 5% 02/15/28 91832VAA2 $28,706.27 0.210 %
DAVITA INC 3.75% 02/15/31 23918KAT5 $28,839.22 0.210 %
SOTHEBY'S 7.375% 10/15/27 835898AH0 $29,578.66 0.210 %
GRIFFON CORPORA 5.75% 03/01/28 398433AP7 $29,125.20 0.210 %
TELECOM ITALIA CAP 6% 09/30/34 87927VAM0 $28,637.89 0.210 %
CLEAR CHANNEL OUTD 9% 09/15/28 18453HAE6 $27,318.61 0.200 %
TRANSOCEAN INC 8.75% 02/15/30 893830BX6 $27,945.80 0.200 %
AVIS BUDGET CA 5.375% 03/01/29 053773BF3 $27,287.34 0.200 %
COHERENT CORP 5% 12/15/29 902104AC2 $28,232.06 0.200 %
HILTON GRAND VAC B 5% 06/01/29 43284MAA6 $28,132.56 0.200 %
PERFORMANCE FOO 4.25% 08/01/29 71376LAE0 $27,372.34 0.200 %
STAR PARENT INC 9% 10/01/30 855170AA4 $27,352.09 0.200 %
FERTITTA ENTER 4.625% 01/15/29 31556TAA7 $27,250.48 0.200 %
SCIH SALT HOLD 4.875% 05/01/28 78433BAA6 $27,832.61 0.200 %
TRONOX INC 4.625% 03/15/29 897051AC2 $27,329.40 0.200 %
ALTICE FINANCING S 5% 01/15/28 02154CAF0 $27,059.85 0.200 %
LCM INVESTMENT 4.875% 05/01/29 50190EAA2 $27,339.94 0.200 %
BOMBARDIER INC 8.75% 11/15/30 097751CA7 $26,892.75 0.200 %
BLUE RACER MID 7.625% 12/15/25 095796AH1 $25,624.18 0.190 %
MPH ACQUISITION 5.5% 09/01/28 553283AD4 $26,253.23 0.190 %
RAKUTEN GROUP INC V/R /PERP/ 75102WAB4 $25,790.82 0.190 %
CSC HOLDINGS L 11.25% 05/15/28 126307BM8 $26,501.44 0.190 %
VIRGIN MEDIA FINAN 5% 07/15/30 92769VAJ8 $26,278.03 0.190 %
GENESIS ENERGY 8.25% 01/15/29 37185LAP7 $25,846.54 0.190 %
WINDSOR HOLDINGS 8.5% 06/15/30 97360AAA5 $26,357.45 0.190 %
BAUSCH HEALTH 6.125% 02/01/27 071734AP2 $26,264.35 0.190 %
CALLON PETROLEUM 8% 08/01/28 13123XBD3 $26,239.90 0.190 %
BOMBARDIER INC 7.5% 02/01/29 097751BZ3 $25,511.08 0.190 %
BOMBARDIER INC 7.125% 06/15/26 097751BV2 $25,573.48 0.190 %
TRANSOCEAN TIT 8.375% 02/01/28 89386MAA6 $25,895.28 0.190 %
CITGO PETROLEU 8.375% 01/15/29 17302XAN6 $26,515.22 0.190 %
MIDAS OPCO HOL 5.625% 08/15/29 59565JAA9 $26,790.64 0.190 %
BELLRING BRANDS IN 7% 03/15/30 07831CAA1 $26,295.56 0.190 %
BROOKFIELD PPTY 5.75% 05/15/26 11284DAA3 $24,520.72 0.180 %
TELECOM ITALIA 6.375% 11/15/33 87927VAF5 $24,560.37 0.180 %
COMMSCOPE INC 4.75% 09/01/29 203372AX5 $24,208.98 0.180 %
ROYAL CARIBBEAN 4.25% 07/01/26 780153BH4 $24,270.66 0.180 %
ARDAGH METAL PACKA 4% 09/01/29 03969YAB4 $24,596.33 0.180 %
ROYAL CARIBBEA 5.375% 07/15/27 780153BK7 $24,681.50 0.180 %
PRIME HEALTHCAR 7.25% 11/01/25 74165HAB4 $25,418.06 0.180 %
RHP HOTEL PPTY/ 4.75% 10/15/27 749571AF2 $24,368.72 0.180 %
GENESIS ENERGY 7.75% 02/01/28 37185LAL6 $25,136.88 0.180 %
NFP CORP 4.875% 08/15/28 65342RAE0 $24,967.89 0.180 %
MERCER INTL IN 5.125% 02/01/29 588056BB6 $25,448.80 0.180 %
GOODYEAR TIRE & RU 5% 05/31/26 382550BF7 $24,652.64 0.180 %
OWENS-BROCKWAY 6.625% 05/13/27 69073TAT0 $25,480.50 0.180 %
UNIVISION COMM 7.375% 06/30/30 914906AX0 $24,491.09 0.180 %
ADIENT GLOBAL 4.875% 08/15/26 00687YAA3 $24,298.95 0.180 %
HANESBRANDS IN 4.875% 05/15/26 410345AL6 $24,502.45 0.180 %
WASH MULTIFAM A 5.75% 04/15/26 93710WAA3 $24,729.08 0.180 %
WYNN RESORTS F 5.125% 10/01/29 983133AA7 $24,123.75 0.180 %
CLARIOS GLOBAL 6.25% 05/15/26 69867DAA6 $25,408.96 0.180 %
MOSS CREEK RESOU 7.5% 01/15/26 61965RAA3 $25,133.89 0.180 %
TELECOM ITALIA C 7.2% 07/18/36 87927VAR9 $25,137.51 0.180 %
ILIAD HOLDING SAS 7% 10/15/28 449691AC8 $25,406.50 0.180 %
HERTZ CORP/THE 5% 12/01/29 428040DB2 $23,310.44 0.170 %
NCR VOYIX CORP 5.125% 04/15/29 62886EBA5 $23,759.99 0.170 %
FRONTIER COMMUN 6.75% 05/01/29 35906ABG2 $22,883.79 0.170 %
PENN ENTERTAIN 5.625% 01/15/27 707569AS8 $24,000.98 0.170 %
LABL INC 5.875% 11/01/28 50168QAC9 $22,950.87 0.170 %
NESCO HOLDINGS I 5.5% 04/15/29 64083YAA9 $23,847.87 0.170 %
STATION CASINOS 4.5% 02/15/28 857691AG4 $23,326.91 0.170 %
MARRIOTT OWNERSH 4.5% 06/15/29 57164PAH9 $22,908.74 0.170 %
CLARIV SCI HLD 4.875% 07/01/29 18064PAD1 $22,974.88 0.170 %
ALLIANT HOLD / 4.25% 10/15/27 01883LAB9 $23,625.83 0.170 %
AMWINS GROUP I 4.875% 06/30/29 031921AB5 $23,242.13 0.170 %
BAUSCH HEALTH 4.875% 06/01/28 071734AN7 $23,288.79 0.170 %
CSC HOLDINGS L 4.125% 12/01/30 126307BB2 $22,850.36 0.170 %
AVIS BUDGET CAR 5.75% 07/15/27 053773BC0 $24,056.88 0.170 %
US FOODS INC 4.75% 02/15/29 90290MAD3 $23,553.01 0.170 %
ENERGIZER HOLDI 4.75% 06/15/28 29272WAC3 $23,101.38 0.170 %
ENCOMPASS HEALT 4.75% 02/01/30 29261AAB6 $23,341.83 0.170 %
CHS/COMMUNITY H 4.75% 02/15/31 12543DBK5 $22,902.76 0.170 %
MCGRAW-HILL EDU 5.75% 08/01/28 57767XAA8 $23,414.56 0.170 %
TRANSDIGM INC 4.625% 01/15/29 893647BP1 $23,178.74 0.170 %
NCR VOYIX CORP 5% 10/01/28 62886EAY4 $23,760.57 0.170 %
APX GROUP INC 5.75% 07/15/29 00213MAW4 $23,930.63 0.170 %
SC GAMES HOLDI 6.625% 03/01/30 80874DAA4 $23,406.38 0.170 %
JONES DESLAURIER 8.5% 03/15/30 48020RAB1 $21,676.12 0.160 %
SIMMONS FOOD I 4.625% 03/01/29 82873MAA1 $21,797.82 0.160 %
NATIONSTAR MTG 5.125% 12/15/30 63861CAD1 $22,595.46 0.160 %
CHS/COMMUNITY HEAL 6% 01/15/29 12543DBH2 $21,654.30 0.160 %
MALLINCKRODT F 14.75% 11/14/28 561233AN7 $22,629.64 0.160 %
FRONTIER COMMU 5.875% 11/01/29 35908MAA8 $21,736.04 0.160 %
FREEDOM MORTGAGE 12% 10/01/28 35640YAK3 $22,671.32 0.160 %
COMSTOCK RESOU 5.875% 01/15/30 205768AT1 $22,023.13 0.160 %
CSC HOLDINGS L 5.375% 02/01/28 126307AS6 $21,893.16 0.160 %
UNIVISION COMMUN 4.5% 05/01/29 914906AV4 $22,236.28 0.160 %
VERDE PURCHASER 10.5% 11/30/30 92339LAA0 $21,407.13 0.160 %
COVANTA HOLDIN 4.875% 12/01/29 22303XAA3 $22,192.62 0.160 %
ARCHES BUYER IN 4.25% 06/01/28 039524AA1 $21,650.51 0.160 %
CONSOLIDATED COM 6.5% 10/01/28 20903XAF0 $22,337.04 0.160 %
AMERICAN AXLE & MF 5% 10/01/29 02406PBB5 $22,247.27 0.160 %
SCOTTS MIRACLE-G 4.5% 10/15/29 810186AS5 $22,563.88 0.160 %
PREMIER ENTERT 5.625% 09/01/29 74052HAA2 $21,778.05 0.160 %
ARETEC GROUP INC 10% 08/15/30 04020JAA4 $21,895.22 0.160 %
RITCHIE BROS HL 7.75% 03/15/31 76774LAC1 $21,709.81 0.160 %
CONSTELLIUM SE 3.75% 04/15/29 21039CAB0 $22,722.20 0.160 %
SABRE GLBL INC 8.625% 06/01/27 78573NAJ1 $22,295.63 0.160 %
NCL CORPORATIO 8.125% 01/15/29 62886HBN0 $21,639.67 0.160 %
CALLON PETROLEUM 7.5% 06/15/30 13123XBF8 $21,408.81 0.160 %
HRT DNT / HRT D 10.5% 04/30/28 42239PAB5 $21,592.03 0.160 %
CAMELOT RETURN 8.75% 08/01/28 13323NAA0 $20,771.03 0.150 %
CNT PRNT/CDK GLO I 8% 06/15/29 154915AA0 $20,907.04 0.150 %
VITAL ENERGY 10.125% 01/15/28 516806AG1 $21,175.46 0.150 %
PARK INTERMED HO 7.5% 06/01/25 70052LAA1 $20,400.10 0.150 %
LCM INVESTMENTS 8.25% 08/01/31 50190EAC8 $20,540.52 0.150 %
FERRELLGAS LP/ 5.375% 04/01/26 315289AA6 $20,016.88 0.150 %
ARDAGH PKG FIN/ 5.25% 04/30/25 03969AAQ3 $20,150.38 0.150 %
HOWARD MIDSTRE 8.875% 07/15/28 442722AB0 $21,321.71 0.150 %
SPECIALTY BUIL 6.375% 09/30/26 84749AAA5 $20,180.45 0.150 %
GLOBAL PART/GLP FI 7% 08/01/27 37954FAG9 $20,070.20 0.150 %
CLARIOS GLOBAL 6.75% 05/15/28 18060TAC9 $20,663.35 0.150 %
NGL ENRGY OP/F 8.125% 02/15/29 62922LAC2 $20,342.94 0.150 %
CHS/COMMUNITY 10.875% 01/15/32 12543DBN9 $20,811.68 0.150 %
CD&R SMOKEY BUY 6.75% 07/15/25 12510CAA9 $20,045.05 0.150 %
NABORS INDUSTR 7.375% 05/15/27 62957HAJ4 $20,351.81 0.150 %
FREEDOM MORTGAG 9.25% 02/01/29 35641AAA6 $20,439.52 0.150 %
BROOKFIELD RESI 6.25% 09/15/27 11283YAB6 $20,010.47 0.150 %
LEVEL 3 FINANCI 10.5% 05/15/30 527298BU6 $21,100.83 0.150 %
ELANCO ANIMAL H 6.65% 08/28/28 28414HAG8 $20,219.00 0.150 %
TALOS PRODUCTION I 9% 02/01/29 87485LAD6 $20,472.49 0.150 %
MGM RESORTS INT 6.75% 05/01/25 552953CG4 $20,465.39 0.150 %
AMC NETWORKS IN 4.25% 02/15/29 00164VAF0 $20,076.14 0.150 %
TRANSDIGM INC 7.125% 12/01/31 893647BT3 $20,918.97 0.150 %
CEC ENTERTAINME 6.75% 05/01/26 125137AC3 $20,290.80 0.150 %
IRB HOLDING CORP 7% 06/15/25 44988MAC9 $20,297.79 0.150 %
OWENS-BROCKWAY 7.25% 05/15/31 69073TAU7 $20,671.46 0.150 %
CITGO PETROLEU 6.375% 06/15/26 17302XAM8 $20,370.50 0.150 %
SERVICE PROPERT 3.95% 01/15/28 44106MAX0 $21,336.07 0.150 %
ITHACA ENERGY NORT 9% 07/15/26 46567TAB0 $20,397.40 0.150 %
SIX FLAGS ENTERT 5.5% 04/15/27 83001AAC6 $20,018.89 0.150 %
CNTRL PARENT/CD 7.25% 06/15/29 15477CAA3 $20,544.07 0.150 %
IHEARTCOMMUNIC 6.375% 05/01/26 45174HBC0 $20,777.25 0.150 %
CHURCHILL DOWNS 5.5% 04/01/27 171484AG3 $20,102.71 0.150 %
SUMMIT MID HLDS S/UP 10/15/26 86614WAE6 $20,542.80 0.150 %
MGM RESORTS INT 5.75% 06/15/25 552953CE9 $20,232.32 0.150 %
ENCINO ACQUISITI 8.5% 05/01/28 29254BAA5 $20,552.50 0.150 %
LIFEPOINT HEAL 9.875% 08/15/30 53219LAV1 $20,859.84 0.150 %
LIGHT & WONDER 7.25% 11/15/29 80874YBE9 $20,862.61 0.150 %
KEHE DIST/FIN / NE 9% 02/15/29 487526AC9 $20,260.06 0.150 %
HUDBAY MINERAL 6.125% 04/01/29 443628AH5 $20,124.01 0.150 %
AETHON UN/AETHI 8.25% 02/15/26 00810GAC8 $20,142.38 0.150 %
HTA GROUP LTD 7% 12/18/25 40435WAB6 $20,089.42 0.150 %
NABORS INDUSTR 9.125% 01/31/30 62957HAP0 $21,108.28 0.150 %
USA COM PART/U 6.875% 04/01/26 91740PAC2 $20,541.99 0.150 %
LUMEN TECHNOLOGIES 4% 02/15/27 156700BC9 $20,700.56 0.150 %
GOODYEAR TIRE & 9.5% 05/31/25 382550BH3 $20,676.94 0.150 %
NORTHERN OIL & 8.125% 03/01/28 665531AG4 $20,272.20 0.150 %
ENERFLEX LTD 9% 10/15/27 29269RAA3 $20,741.52 0.150 %
NATIONSTAR MTG 5.75% 11/15/31 63861CAE9 $18,775.75 0.140 %
PITNEY BOWES I 6.875% 03/15/27 724479AP5 $18,701.11 0.140 %
FERRELLGAS LP/ 5.875% 04/01/29 315289AC2 $19,763.26 0.140 %
GFL ENVIRONMENT 4.75% 06/15/29 36168QAN4 $18,918.67 0.140 %
BEAZER HOMES U 5.875% 10/15/27 07556QBR5 $19,790.30 0.140 %
VERMILION ENER 6.875% 05/01/30 923725AD7 $19,748.99 0.140 %
MICHAELS COS IN 5.25% 05/01/28 55916AAA2 $19,831.42 0.140 %
SRS DISTRIBUTI 4.625% 07/01/28 78471RAB2 $18,755.50 0.140 %
PIKE CORP 5.5% 09/01/28 721283AA7 $18,921.20 0.140 %
BOMBARDIER INC 6% 02/15/28 097751BX8 $19,508.44 0.140 %
PACTIV EVERGRE 4.375% 10/15/28 69527AAA4 $18,885.54 0.140 %
LABL INC 6.75% 07/15/26 50168AAB6 $19,578.05 0.140 %
AMERIGAS PART/ 5.875% 08/20/26 030981AJ3 $19,460.41 0.140 %
PROG HOLDINGS INC 6% 11/15/29 74319RAA9 $18,771.73 0.140 %
LSF9 ATL HLDG/V 7.75% 02/15/26 50220MAA8 $19,913.01 0.140 %
CEDAR FAIR LP 5.25% 07/15/29 150190AE6 $19,046.05 0.140 %
USA COM PART/U 6.875% 09/01/27 91740PAF5 $19,937.47 0.140 %
ZIGGO BOND CO BV 6% 01/15/27 98954UAB9 $19,664.92 0.140 %
PARK INTERMED 4.875% 05/15/29 70052LAC7 $18,688.86 0.140 %
INTELLIGENT PACKAG 6% 09/15/28 45827MAA5 $18,993.18 0.140 %
ROCKCLIFF ENERGY 5.5% 10/15/29 77289KAA3 $18,881.09 0.140 %
SEAWORLD PARKS 5.25% 08/15/29 81282UAG7 $18,659.42 0.140 %
GRAY TELEVISIO 5.875% 07/15/26 389375AJ5 $19,055.25 0.140 %
ROYAL CARIBBEAN 5.5% 08/31/26 780153BJ0 $19,800.78 0.140 %
PRECISION DRIL 6.875% 01/15/29 740212AM7 $19,932.34 0.140 %
HEALTHEQUITY INC 4.5% 10/01/29 42226AAA5 $18,819.87 0.140 %
OUTFRONT MEDIA CAP 5% 08/15/27 69007TAB0 $19,267.25 0.140 %
1011778 BC / N 4.375% 01/15/28 68245XAJ8 $19,039.46 0.140 %
SCIL IV LLC / 5.375% 11/01/26 78397UAA8 $19,812.88 0.140 %
WILLIAMS SCOTS 4.625% 08/15/28 96950GAE2 $18,751.90 0.140 %
GOODYEAR TIRE 4.875% 03/15/27 382550BG5 $19,634.92 0.140 %
AMC NETWORKS IN 4.75% 08/01/25 00164VAE3 $19,156.47 0.140 %
CATALENT PHARMA 3.5% 04/01/30 14879EAK4 $19,557.34 0.140 %
ADVANTAGE SALES 6.5% 11/15/28 00775PAA5 $18,981.14 0.140 %
MGM RESORTS INT 4.75% 10/15/28 552953CH2 $19,167.87 0.140 %
MIDWEST GMNG B 4.875% 05/01/29 59833DAB6 $18,642.20 0.140 %
VIASAT INC 6.5% 07/15/28 92552VAN0 $18,965.48 0.140 %
NATIONSTAR MTG HLD 6% 01/15/27 63861CAA7 $19,807.33 0.140 %
CHURCHILL DOWNS 4.75% 01/15/28 171484AE8 $19,044.90 0.140 %
PACTIV EVERGREEN G 4% 10/15/27 76174LAA1 $18,858.06 0.140 %
PARK INTERMED 5.875% 10/01/28 70052LAB9 $19,965.99 0.140 %
LEGACY LIFEPOI 4.375% 02/15/27 53219LAS8 $18,641.20 0.140 %
GRAY TELEVISION IN 7% 05/15/27 389284AA8 $18,363.76 0.130 %
BROOKFIELD PPTY 4.5% 04/01/27 11284DAC9 $17,988.81 0.130 %
ENERGIZER HOLD 4.375% 03/31/29 29272WAD1 $18,042.43 0.130 %
LEVEL 3 FINANC 3.875% 11/15/29 527298BQ5 $17,882.60 0.130 %
GOODYEAR TIRE & 5.25% 07/15/31 382550BR1 $18,179.72 0.130 %
SK INVICTUS INTERM 5% 10/30/29 29977LAA9 $17,326.58 0.130 %
ACRISURE LLC / 4.25% 02/15/29 00489LAF0 $17,841.68 0.130 %
OLYMPUS WTR US 4.25% 10/01/28 681639AA8 $18,172.85 0.130 %
BOYNE USA INC 4.75% 05/15/29 103557AC8 $18,555.82 0.130 %
XHR LP 4.875% 06/01/29 98372MAC9 $18,478.03 0.130 %
GCI LLC 4.75% 10/15/28 36166TAB6 $18,281.37 0.130 %
HUGHES SATELLIT 5.25% 08/01/26 444454AD4 $17,261.15 0.130 %
VISTAJET MALTA 6.375% 02/01/30 92840JAB5 $18,463.53 0.130 %
AXALTA COATING 3.375% 02/15/29 05453GAC9 $17,808.36 0.130 %
UNITI GROUP/CSL 4.75% 04/15/28 91327BAB6 $17,834.63 0.130 %
GOODYEAR TIRE & RU 5% 07/15/29 382550BN0 $18,530.82 0.130 %
CORELOGIC INC 4.5% 05/01/28 21871DAD5 $18,053.80 0.130 %
FIVE POINT OP C 10.5% 01/15/28 33834YAB4 $17,299.26 0.130 %
MADISON IAQ LL 4.125% 06/30/28 55760LAA5 $18,198.56 0.130 %
GRIFOLS SA 4.75% 10/15/28 39843UAA0 $17,773.37 0.130 %
CSC HOLDINGS L 3.375% 02/15/31 126307BF3 $17,842.97 0.130 %
URBAN ONE INC 7.375% 02/01/28 91705JAC9 $17,268.85 0.130 %
BROOKFIELD RES 4.875% 02/15/30 11283YAD2 $17,845.81 0.130 %
SUBURBAN PROPANE P 5% 06/01/31 864486AL9 $18,303.47 0.130 %
GFL ENVIRONMENTAL 4% 08/01/28 36168QAL8 $18,362.06 0.130 %
ANYWHERE REAL EST/ 7% 04/15/30 75606DAS0 $17,989.65 0.130 %
PRIMO WATER HO 4.375% 04/30/29 74168LAA4 $18,448.61 0.130 %
US ACUTE CARE 6.375% 03/01/26 90367UAA9 $18,120.10 0.130 %
ZI TECH LLC/ZI 3.875% 02/01/29 98981BAA0 $17,992.12 0.130 %
GLOBAL INFRAST 5.625% 06/01/29 37960XAA5 $18,257.39 0.130 %
ARAGVI FINANCE 8.45% 04/29/26 03851RAB0 $16,021.64 0.120 %
CALDERYS FINAN 11.25% 06/01/28 128786AA8 $16,528.55 0.120 %
SCOTTS MIRACLE-GRO 4% 04/01/31 810186AX4 $17,134.99 0.120 %
BORR IHC LTD 10.375% 11/15/30 100018AB6 $16,154.23 0.120 %
NORTHERN OIL & 8.75% 06/15/31 665530AB7 $15,941.15 0.120 %
AMS-OSRAM AG 12.25% 03/30/29 03217CAB2 $16,817.92 0.120 %
AMERITEX HOLDC 10.25% 10/15/28 030727AA9 $16,383.98 0.120 %
NEWFOLD DIGITA 11.75% 10/15/28 650929AA0 $16,900.36 0.120 %
AXALTA COATING 7.25% 02/15/31 05455JAA5 $15,922.61 0.120 %
LEVEL 3 FINANCIN 3.4% 03/01/27 527298BP7 $16,100.00 0.120 %
WYNN LAS VEGAS L 5.5% 03/01/25 983130AV7 $15,987.45 0.120 %
UNIFRAX ESCROW 5.25% 09/30/28 90473LAA0 $16,600.90 0.120 %
FTAI INFRA ESC 10.5% 06/01/27 30327TAA7 $16,047.83 0.120 %
B&G FOODS INC 8% 09/15/28 05508WAC9 $16,067.24 0.120 %
CHART INDUSTRIES 9.5% 01/01/31 16115QAG5 $16,255.86 0.120 %
DIAMOND FRGN/DIA 8.5% 10/01/30 25260WAD3 $15,949.91 0.120 %
CROCS INC 4.125% 08/15/31 227046AB5 $17,195.59 0.120 %
FRONTIER COMMUNICA 6% 01/15/30 35908MAB6 $17,209.51 0.120 %
AG TTMT ESCROW 8.625% 09/30/27 00840KAA7 $16,015.67 0.120 %
RAISING CANE'S 9.375% 05/01/29 75103AAA3 $16,437.06 0.120 %
NOBLE FINANCE II L 8% 04/15/30 65505PAA5 $15,853.15 0.120 %
BANIJAY ENTERT 8.125% 05/01/29 060335AB2 $16,041.11 0.120 %
VICTORIA'S SEC 4.625% 07/15/29 926400AA0 $16,995.62 0.120 %
BERRY PETROLEUM CO 7% 02/15/26 08580BAA4 $14,674.73 0.110 %
ARAMARK SERVICES I 5% 04/01/25 038522AP3 $15,224.24 0.110 %
AXALTA COAT/DUT 4.75% 06/15/27 05454NAA7 $14,646.19 0.110 %
NCL CORPORATIO 8.375% 02/01/28 62886HBL4 $15,738.91 0.110 %
SCIENCE APPLIC 4.875% 04/01/28 808625AA5 $14,520.33 0.110 %
UPBOUND GROUP 6.375% 02/15/29 76009NAL4 $14,477.73 0.110 %
LIONS GATE CAPIT 5.5% 04/15/29 53627NAE1 $15,245.18 0.110 %
ASCENT RESOURCE 8.25% 12/31/28 04364VAR4 $15,329.99 0.110 %
DELEK LOG PART 7.125% 06/01/28 24665FAC6 $14,702.68 0.110 %
SIX FLAGS ENTER 7.25% 05/15/31 83001AAD4 $15,492.90 0.110 %
AMERICAN AXLE & 6.5% 04/01/27 02406PAU4 $15,215.26 0.110 %
MOBIUS MERGER SUB 9% 06/01/30 606950AA1 $15,026.14 0.110 %
GARDA WORLD SEC 7.75% 02/15/28 36485MAM1 $15,321.42 0.110 %
TALOS PRODUCTI 9.375% 02/01/31 87485LAE4 $15,584.55 0.110 %
MGM RESORTS INTL 5.5% 04/15/27 552953CF6 $15,032.67 0.110 %
LSB INDUSTRIES 6.25% 10/15/28 502160AN4 $14,531.74 0.110 %
FRONTIER COMMU 8.625% 03/15/31 35908MAE0 $15,714.44 0.110 %
AMERIGAS PART/FI 5.5% 05/20/25 030981AK0 $14,976.94 0.110 %
ACI WORLDWIDE I 5.75% 08/15/26 004498AB7 $14,940.21 0.110 %
WYNN RESORTS F 7.125% 02/15/31 983133AC3 $15,516.90 0.110 %
AMERICAN AIRLIN 3.75% 03/01/25 02376RAE2 $14,636.92 0.110 %
TRIPADVISOR INC 7% 07/15/25 896945AA0 $15,162.92 0.110 %
GULFPORT ENERGY OP 8% 05/17/26 402635AR7 $15,508.48 0.110 %
PGT INNOVATION 4.375% 10/01/29 69336VAB7 $15,387.48 0.110 %
RITHM CAPITAL C 6.25% 10/15/25 64828TAA0 $15,184.50 0.110 %
SPECTRUM BRAND 3.875% 03/15/31 84762LAX3 $14,670.31 0.110 %
ALBION FINANCIN 8.75% 04/15/27 013305AA5 $15,318.64 0.110 %
GLOBAL PART/GLP 8.25% 01/15/32 37954FAK0 $15,489.12 0.110 %
OWENS & MINOR 6.625% 04/01/30 690732AG7 $14,980.08 0.110 %
MICROSTRATEGY 6.125% 06/15/28 594972AF8 $14,615.03 0.110 %
AMERIGAS PART/ 9.375% 06/01/28 030981AM6 $15,613.82 0.110 %
GATES GLOBAL/GA 6.25% 01/15/26 36740LAA0 $15,078.69 0.110 %
HERBALIFE/HLF 7.875% 09/01/25 42704MAA0 $14,607.11 0.110 %
SITIO ROYAL OP 7.875% 11/01/28 82983MAB6 $15,816.58 0.110 %
COMPASS MINERAL 6.75% 12/01/27 20451NAG6 $14,882.35 0.110 %
VT TOPCO INC 8.5% 08/15/30 91838PAA9 $15,622.04 0.110 %
TRANSOCEAN AQUILA 8% 09/30/28 893790AA3 $15,700.63 0.110 %
STRATHCONA RES 6.875% 08/01/26 86304TAA6 $15,026.49 0.110 %
CATALENT PHARM 3.125% 02/15/29 14879EAH1 $14,516.91 0.110 %
TOWNSQUARE MED 6.875% 02/01/26 892231AB7 $14,568.77 0.110 %
HLF FIN SARL L 4.875% 06/01/29 40390DAC9 $14,642.73 0.110 %
CERDIA FINANZ G 10.5% 02/15/27 15679GAA0 $15,462.45 0.110 %
MGM RESORTS IN 4.625% 09/01/26 552953CD1 $14,540.32 0.110 %
LIGHT & WONDER I 7.5% 09/01/31 531968AA3 $15,591.83 0.110 %
LIFE TIME INC 8% 04/15/26 53190FAC9 $15,581.69 0.110 %
COGENT COMMUNICATI 7% 06/15/27 19240CAE3 $15,056.10 0.110 %
CVR ENERGY INC 8.5% 01/15/29 12662PAF5 $15,177.37 0.110 %
UBER TECHNOLOGI 6.25% 01/15/28 90353TAG5 $15,140.11 0.110 %
BOXER PARENT C 7.125% 10/02/25 103186AB8 $15,484.71 0.110 %
DAVE & BUSTER' 7.625% 11/01/25 23833NAH7 $15,448.30 0.110 %
CEDAR FAIR/CAN 5.375% 04/15/27 150190AB2 $15,156.26 0.110 %
PRESIDIO HOLDI 4.875% 02/01/27 74101XAE0 $14,503.33 0.110 %
AG ISSUER LLC 6.25% 03/01/28 00119LAA9 $14,564.00 0.110 %
MERLIN ENTERTA 7.375% 02/15/31 59010UAA5 $15,090.48 0.110 %
US FOODS INC 7.25% 01/15/32 90290MAH4 $15,677.10 0.110 %
LIGHT & WONDER INT 7% 05/15/28 80874YBC3 $15,400.70 0.110 %
JB POINDEXTER & 8.75% 12/15/31 465965AC5 $15,663.96 0.110 %
CLYDESDALE ACQ 6.625% 04/15/29 18972EAA3 $15,277.57 0.110 %
MODIVCARE INC 5.875% 11/15/25 743815AE2 $14,790.29 0.110 %
ATI INC 7.25% 08/15/30 01741RAN2 $15,449.15 0.110 %
ECO MATERIAL T 7.875% 01/31/27 27900QAA4 $15,081.61 0.110 %
VALVOLINE INC 4.25% 02/15/30 92047WAD3 $15,156.51 0.110 %
FREEDOM MORTGA 7.625% 05/01/26 35640YAH0 $15,265.37 0.110 %
HANESBRANDS INC 9% 02/15/31 410345AQ5 $15,095.51 0.110 %
VIASAT INC 5.625% 09/15/25 92552VAK6 $14,908.33 0.110 %
HUDBAY MINERALS 4.5% 04/01/26 443628AJ1 $14,729.96 0.110 %
CABLE ONE INC 4% 11/15/30 12685JAC9 $15,195.79 0.110 %
EMPIRE COMMUNITIES 7% 12/15/25 29163VAC7 $15,053.16 0.110 %
ACADIA HEALTHCARE 5% 04/15/29 00404AAP4 $14,482.31 0.110 %
MILLENNIUM ESC 6.625% 08/01/26 60041CAA6 $15,166.28 0.110 %
SABRE GLBL INC 11.25% 12/15/27 78573NAH5 $14,601.57 0.110 %
CALIFORNIA RES 7.125% 02/01/26 13057QAH0 $15,151.06 0.110 %
EVERI HOLDINGS INC 5% 07/15/29 30034TAA1 $13,812.33 0.100 %
QVC INC 4.75% 02/15/27 747262AY9 $13,244.96 0.100 %
CONDUENT BUS SERVI 6% 11/01/29 20679LAB7 $13,875.83 0.100 %
GOODYEAR TIRE 5.625% 04/30/33 382550BK6 $13,737.30 0.100 %
SINCLAIR TELEV 5.125% 02/15/27 829259AW0 $14,009.79 0.100 %
HUNT COS INC 5.25% 04/15/29 445587AE8 $14,026.21 0.100 %
JACOBS ENTERTAI 6.75% 02/15/29 469815AK0 $14,309.29 0.100 %
GRAN TIERRA ENER 9.5% 10/15/29 38500TAC5 $14,437.32 0.100 %
ELASTIC NV 4.125% 07/15/29 28415LAA1 $13,558.09 0.100 %
ASHTON WOODS U 4.625% 04/01/30 045086AP0 $13,788.83 0.100 %
ATI INC 5.125% 10/01/31 01741RAM4 $14,051.73 0.100 %
CVR PARTNERS/C 6.125% 06/15/28 12663QAC9 $14,294.85 0.100 %
NCR VOYIX CORP 5.25% 10/01/30 62886EAZ1 $13,910.42 0.100 %
ROLLER BEARING 4.375% 10/15/29 775631AD6 $13,910.86 0.100 %
RHP HOTEL PPTY/R 4.5% 02/15/29 749571AG0 $13,946.26 0.100 %
CHOBANI LLC/FI 4.625% 11/15/28 17027NAB8 $14,153.06 0.100 %
OWENS & MINOR IN 4.5% 03/31/29 690732AF9 $13,669.45 0.100 %
IHEARTCOMMUNICA 5.25% 08/15/27 45174HBE6 $14,455.48 0.100 %
VISTAJET MALTA 7.875% 05/01/27 92840JAD1 $13,154.99 0.100 %
DUN & BRADSTREET C 5% 12/15/29 26483EAL4 $14,017.78 0.100 %
NEW ENTERPRISE 5.25% 07/15/28 644274AH5 $14,368.00 0.100 %
CGG SA 8.75% 04/01/27 12531TAF6 $13,688.05 0.100 %
ENVIRI CORP 5.75% 07/31/27 415864AM9 $14,105.72 0.100 %
GRAN TIERRA ENE 7.75% 05/23/27 38502JAA9 $13,106.39 0.100 %
TKC HOLDINGS I 6.875% 05/15/28 87256YAC7 $14,234.40 0.100 %
API GROUP DE I 4.125% 07/15/29 001877AA7 $13,644.51 0.100 %
GARDA WORLD SE 4.625% 02/15/27 36485MAK5 $14,335.41 0.100 %
ARKO CORP 5.125% 11/15/29 041242AA6 $13,381.70 0.100 %
MIWD HLDCO II/MI 5.5% 02/01/30 55337PAA0 $13,795.88 0.100 %
EVERGREEN ACQCO 9.75% 04/26/28 30015DAA9 $13,636.10 0.100 %
KAISER ALUMINU 4.625% 03/01/28 483007AJ9 $13,767.86 0.100 %
ZIPRECRUITER INC 5% 01/15/30 98980BAA1 $13,271.96 0.100 %
AFFINITY INTER 6.875% 12/15/27 00842XAA7 $14,087.06 0.100 %
GOODYEAR TIRE & 5.25% 04/30/31 382550BJ9 $13,853.58 0.100 %
HERTZ CORP/THE 4.625% 12/01/26 428040DA4 $13,471.61 0.100 %
QVC INC 4.45% 02/15/25 747262AU7 $14,457.18 0.100 %
RYAN SPECIALTY 4.375% 02/01/30 78351MAA0 $13,938.15 0.100 %
FREEDOM MORTGA 6.625% 01/15/27 35640YAJ6 $14,442.35 0.100 %
GFL ENVIRONMEN 4.375% 08/15/29 36168QAP9 $13,709.79 0.100 %
US FOODS INC 4.625% 06/01/30 90290MAE1 $13,977.33 0.100 %
AMERIGAS PART/F 5.75% 05/20/27 030981AL8 $14,449.44 0.100 %
CONSENSUS CLOUD 6.5% 10/15/28 20848VAB1 $13,743.44 0.100 %
CHEPLAPHARM ARZN 5.5% 01/15/28 16412EAA5 $14,375.47 0.100 %
ELDORADO GOLD C 6.25% 09/01/29 284902AF0 $14,157.93 0.100 %
GRUBHUB HOLDINGS 5.5% 07/01/27 40010PAA6 $13,263.87 0.100 %
OPTION CARE HE 4.375% 10/31/29 68404LAA0 $13,815.68 0.100 %
OUTFRONT MEDIA 4.625% 03/15/30 69007TAC8 $13,686.01 0.100 %
VISTAJET MALTA/V 9.5% 06/01/28 92841HAA0 $13,111.32 0.100 %
SCRIPPS ESCROW 5.875% 07/15/27 81104PAA7 $12,753.56 0.090 %
RAKUTEN GROUP INC V/R /PERP/ 75102WAA6 $12,981.98 0.090 %
KAISER ALUMINUM 4.5% 06/01/31 483007AL4 $13,047.70 0.090 %
COINBASE GLOBA 3.625% 10/01/31 19260QAD9 $11,954.58 0.090 %
KENNEDY-WILSON INC 5% 03/01/31 489399AM7 $11,715.83 0.090 %
QVC INC 4.375% 09/01/28 747262AZ6 $11,862.10 0.090 %
ADAPTHEALTH LL 4.625% 08/01/29 00653VAC5 $12,604.78 0.090 %
ADAPTHEALTH LL 5.125% 03/01/30 00653VAE1 $12,645.38 0.090 %
VALVOLINE INC 3.625% 06/15/31 92047WAG6 $12,721.43 0.090 %
APOLLO CMMRL R 4.625% 06/15/29 03762UAD7 $12,389.76 0.090 %
ANGI GROUP LLC 3.875% 08/15/28 001846AA2 $12,911.50 0.090 %
EMBECTA CORP 5% 02/15/30 29082KAA3 $11,765.78 0.090 %
ADIENT GLOBAL H 8.25% 04/15/31 00687YAC9 $10,866.52 0.080 %
ROYAL CARIBBEAN 7.5% 10/15/27 780153AG7 $10,770.84 0.080 %
ENOVA INTERNAT 11.25% 12/15/28 29357KAH6 $10,748.95 0.080 %
PIKE CORP 8.625% 01/31/31 721283AB5 $10,768.04 0.080 %
US FOODS INC 6.875% 09/15/28 90290MAG6 $10,504.69 0.080 %
SEG HLD LLC/SE 5.625% 10/15/28 78397KAA0 $10,416.25 0.080 %
MANITOWOC COMPANY 9% 04/01/26 563571AL2 $10,386.60 0.080 %
BRINKER INTERNA 8.25% 07/15/30 109641AK6 $10,603.14 0.080 %
MRT MID PART/MR 11.5% 02/15/28 573334AK5 $10,549.83 0.080 %
FREEDOM MORTGA 12.25% 10/01/30 35640YAL1 $11,537.50 0.080 %
TRANSDIGM INC 7.5% 03/15/27 893647BH9 $10,350.10 0.080 %
ADAMS HOMES INC 9.25% 10/15/28 00623PAB7 $10,639.05 0.080 %
ALTERYX INC 8.75% 03/15/28 02156BAG8 $10,561.78 0.080 %
TENET HEALTHCA 6.875% 11/15/31 88033GAV2 $10,451.05 0.080 %
TPC GROUP INC 13% 12/16/27 89236YAG9 $10,546.79 0.080 %
IHEARTCOMMUNICA 4.75% 01/15/28 45174HBG1 $10,506.05 0.080 %
NFP CORP 8.5% 10/01/31 65342RAG5 $11,387.81 0.080 %
LIKEWIZE CORP 9.75% 10/15/25 10947XAA0 $10,518.02 0.080 %
BOMBARDIER INC 7.45% 05/01/34 097751AL5 $11,216.20 0.080 %
CAPSTONE BORROWER 8% 06/15/30 140944AA7 $10,499.12 0.080 %
VITAL ENERGY IN 9.75% 10/15/30 516806AJ5 $11,054.49 0.080 %
MODIVCARE ESCROW I 5% 10/01/29 60783XAA2 $11,346.18 0.080 %
INFRABUILD AUST 14.5% 11/15/28 45682RAC4 $10,827.36 0.080 %
RHP HOTEL PPTY/ 7.25% 07/15/28 749571AJ4 $10,378.32 0.080 %
ODEON FINCO PL 12.75% 11/01/27 67585LAA3 $10,587.92 0.080 %
RR DONNELLEY & 9.75% 07/31/28 257867BG5 $10,334.73 0.080 %
SPIRIT LOYALTY KY 8% 09/20/25 84859BAB7 $10,983.15 0.080 %
NEOGEN FOOD SA 8.625% 07/20/30 365417AA2 $10,734.34 0.080 %
WILLIAMS SCOTS 7.375% 10/01/31 96949VAL7 $10,710.93 0.080 %
VIASAT INC 7.5% 05/30/31 92552VAR1 $11,100.00 0.080 %
SPIRIT LOYALTY KY 8% 09/20/25 84859BAA9 $10,983.15 0.080 %
SUBURBAN PROPA 5.875% 03/01/27 864486AK1 $9,866.60 0.070 %
JELD-WEN INC 4.875% 12/15/27 475795AD2 $9,555.66 0.070 %
TURNING POINT 5.625% 02/15/26 90041LAF2 $9,781.31 0.070 %
STATION CASINO 4.625% 12/01/31 857691AH2 $8,980.52 0.070 %
LINDBLAD EXPEDI 6.75% 02/15/27 53523LAA8 $10,065.93 0.070 %
HECLA MINING CO 7.25% 02/15/28 422704AH9 $10,001.03 0.070 %
WILLIAMS SCOTS 6.125% 06/15/25 71953LAA9 $10,081.25 0.070 %
BATH & BODY WOR 6.95% 03/01/33 532716AK3 $9,784.25 0.070 %
ION TRADING TEC 5.75% 05/15/28 46205YAA9 $9,053.66 0.070 %
GRAY TELEVISION 4.75% 10/15/30 389375AL0 $10,014.53 0.070 %
ACADIA HEALTHCAR 5.5% 07/01/28 00404AAN9 $9,765.12 0.070 %
LFS TOPCO LLC 5.875% 10/15/26 50203TAA4 $9,438.51 0.070 %
CARS.COM INC 6.375% 11/01/28 14575EAA3 $9,901.74 0.070 %
SUMMER (BC) BIDC 5.5% 10/31/26 865632AA1 $9,779.04 0.070 %
AVIS BUDGET CAR/FI 8% 02/15/31 053773BH9 $9,911.62 0.070 %
G-III APPAREL 7.875% 08/15/25 36237HAA9 $10,074.64 0.070 %
ASCENT RESOURC 5.875% 06/30/29 04364VAU7 $9,333.17 0.070 %
CABLEVISION LI 3.875% 09/15/27 12687GAA7 $9,260.11 0.070 %
VIRGIN MEDIA VEND 5% 07/15/28 92770QAA5 $9,349.62 0.070 %
ENOVA INTERNATIO 8.5% 09/15/25 29357KAF0 $10,325.23 0.070 %
HELIOS SOFT/IO 4.625% 05/01/28 42329HAA6 $9,184.46 0.070 %
ATS CORP 4.125% 12/15/28 001940AC9 $9,182.60 0.070 %
ATI INC 4.875% 10/01/29 01741RAL6 $9,490.12 0.070 %
GRAFTECH FINAN 4.625% 12/15/28 384311AA4 $10,050.35 0.070 %
ASHTON WOODS U 4.625% 08/01/29 045086AM7 $9,148.23 0.070 %
TASEKO MINES LTD 7% 02/15/26 876511AF3 $9,884.98 0.070 %
ONTARIO GAMING GTA 8% 08/01/30 68306MAA7 $10,287.50 0.070 %
ALTA EQUIPMENT 5.625% 04/15/26 02128LAA4 $9,905.96 0.070 %
BRISTOW GROUP 6.875% 03/01/28 11040GAA1 $9,724.27 0.070 %
NEW GOLD INC 7.5% 07/15/27 644535AH9 $10,016.23 0.070 %
SIZZLING PLATT/F 8.5% 11/28/25 830146AB2 $10,245.17 0.070 %
BRUNDAGE-BONE CONC 6% 02/01/26 66981QAA4 $9,890.18 0.070 %
RAIN CARBON IN 12.25% 09/01/29 75079LAB7 $9,817.40 0.070 %
CCM MERGER INC 6.375% 05/01/26 14985VAE1 $10,075.32 0.070 %
ENCOMPASS HEAL 4.625% 04/01/31 29261AAE0 $9,294.72 0.070 %
MAGNOLIA OIL GAS/M 6% 08/01/26 559665AA2 $9,840.56 0.070 %
SUNNOVA ENERGY 11.75% 10/01/28 86745GAG8 $9,051.56 0.070 %
ENPRO INC 5.75% 10/15/26 29355XAG2 $10,072.99 0.070 %
NATIONSTAR MTG H 5.5% 08/15/28 63861CAC3 $9,494.86 0.070 %
ROYAL CARIBBEAN 3.7% 03/15/28 780153AW2 $9,367.86 0.070 %
PATRICK INDUSTR 4.75% 05/01/29 703343AD5 $9,330.58 0.070 %
VITAL ENERGY IN 7.75% 07/31/29 516806AH9 $9,999.73 0.070 %
OUTFRONT MEDIA 4.25% 01/15/29 69007TAE4 $9,026.71 0.070 %
OXFORD FIN LLC 6.375% 02/01/27 69145LAC8 $9,481.82 0.070 %
CLARIOS GLOBAL 6.75% 05/15/25 18060TAA3 $10,200.09 0.070 %
WABASH NATIONAL 4.5% 10/15/28 929566AL1 $9,291.05 0.070 %
MERLIN ENTERTAI 5.75% 06/15/26 59010QAB2 $10,000.08 0.070 %
US WEST COMM 7.25% 9/15/25 912920AK1 $10,013.36 0.070 %
ATLAS LUXCO 4 4.625% 06/01/28 049362AA4 $9,019.24 0.070 %
NORTHWEST FIBER 4.75% 04/30/27 667449AD4 $9,754.60 0.070 %
KRONOS ACQ / KIK 5% 12/31/26 50106GAE2 $9,728.31 0.070 %
CSI COMPRESSCO L 7.5% 04/01/25 12652HAA6 $10,301.72 0.070 %
TITAN INTERNATIONA 7% 04/30/28 88830MAM4 $10,177.42 0.070 %
PAYSAFE FIN PLC/PA 4% 06/15/29 70452AAA1 $9,055.11 0.070 %
LEGENDS HOSPITALIT 5% 02/01/26 52473NAA6 $9,893.31 0.070 %
SOLARIS MIDSTR 7.625% 04/01/26 83419MAA0 $10,289.14 0.070 %
MATIV HOLDINGS 6.875% 10/01/26 808541AA4 $9,973.36 0.070 %
ADAPTHEALTH LL 6.125% 08/01/28 00653VAA9 $9,136.09 0.070 %
CHURCHILL DOWNS 6.75% 05/01/31 171484AJ7 $10,269.47 0.070 %
CATALENT PHARMA SO 5% 07/15/27 14879EAE8 $9,921.27 0.070 %
KEN GARFF AUTO 4.875% 09/15/28 48850PAA2 $9,445.11 0.070 %
TRANSDIGM INC 4.875% 05/01/29 893647BQ9 $9,400.30 0.070 %
POST HOLDINGS 4.625% 04/15/30 737446AQ7 $9,252.59 0.070 %
TEINE ENERGY L 6.875% 04/15/29 879068AB0 $9,876.11 0.070 %
PAPA JOHN'S IN 3.875% 09/15/29 698813AA0 $9,018.52 0.070 %
SUNRISE HOLDCO I 5.5% 01/15/28 90320LAG2 $9,717.99 0.070 %
ABC SUPPLY CO 3.875% 11/15/29 024747AG2 $9,039.96 0.070 %
CASTLELAKE AVIATIO 5% 04/15/27 14856HAA6 $9,691.05 0.070 %
PHH MORTGAGE C 7.875% 03/15/26 69356NAA2 $9,605.46 0.070 %
HOWARD MIDSTREA 6.75% 01/15/27 442722AA2 $10,040.12 0.070 %
SERVICE PROPERT 4.95% 10/01/29 44106MBB7 $8,458.98 0.060 %
GRAFTECH GLOBA 9.875% 12/15/28 38431AAA4 $8,162.74 0.060 %
COVANTA HOLDING CO 5% 09/01/30 22282EAJ1 $8,621.70 0.060 %
HILTON GRAND V 4.875% 07/01/31 43284MAB4 $8,894.75 0.060 %
PETROFAC LTD 9.75% 11/15/26 716473AE3 $7,843.44 0.060 %
C&S GROUP ENTERPRI 5% 12/15/28 12467AAF5 $8,074.09 0.060 %
WW INTERNATIONAL 4.5% 04/15/29 98262PAA9 $7,690.51 0.060 %
SERVICE PROPER 4.375% 02/15/30 44106MAY8 $7,752.72 0.060 %
TMS INTERNATION 6.25% 04/15/29 87261QAC7 $8,917.30 0.060 %
SUNNOVA ENERGY 5.875% 09/01/26 86745GAF0 $8,102.54 0.060 %
CARRIAGE SERVIC 4.25% 05/15/29 143905AP2 $8,842.36 0.060 %
ZIGGO BOND CO 5.125% 02/28/30 98953GAD7 $8,616.99 0.060 %
PREMIER ENTERT 5.875% 09/01/31 74052HAB0 $7,102.40 0.050 %
QVC INC 5.95% 03/15/43 747262AM5 $6,769.40 0.050 %
SCRIPPS ESCROW 5.375% 01/15/31 81105DAB1 $6,252.19 0.050 %
CUMULUS MEDIA N 6.75% 07/01/26 23110AAA4 $6,322.43 0.050 %
QVC INC 5.45% 08/15/34 747262AW3 $6,940.33 0.050 %
XHR LP 6.375% 08/15/25 98372MAA3 $5,022.89 0.040 %
CONSENSUS CLOUD SO 6% 10/15/26 20848VAA3 $4,878.18 0.040 %
SINCLAIR TELEVIS 5.5% 03/01/30 829259AY6 $3,630.19 0.030 %
CONSOLIDATED COMMU 5% 10/01/28 20903XAH6 $4,194.26 0.030 %
As of 02/27/2024 and subject to change.

Performance

Growth Of $10,000 Since Inception

The Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Distributions

Ex-Date Record Date Pay Date Distribution Paid
(Per Share)
Feb 1, 2024 Feb 2, 2024 Feb 7, 2024 0.27428
Dec 28, 2023 Dec 29, 2023 Jan 4, 2024 0.26259
Dec 1, 2023 Dec 4, 2023 Dec 7, 2023 0.25794
Nov 1, 2023 Nov 2, 2023 Nov 7, 2023 0.26353
Oct 2, 2023 Oct 3, 2023 Oct 6, 2023 0.25003
Sep 1, 2023 Sep 5, 2023 Sep 8, 2023 0.27155
Aug 1, 2023 Aug 2, 2023 Aug 7, 2023 0.26295
Jul 3, 2023 Jul 5, 2023 Jul 10, 2023 0.23266
Jun 1, 2023 Jun 2, 2023 Jun 7, 2023 0.29722
May 1, 2023 May 2, 2023 May 5, 2023 0.25574
Apr 3, 2023 Apr 4, 2023 Apr 7, 2023 0.26320
Mar 1, 2023 Mar 2, 2023 Mar 7, 2023 0.24120
Feb 1, 2023 Feb 2, 2023 Feb 7, 2023 0.24838
Dec 29, 2022 Dec 30, 2022 Jan 5, 2023 0.27876
Dec 1, 2022 Dec 2, 2022 Dec 7, 2022 0.25381
Nov 1, 2022 Nov 2, 2022 Nov 7, 2022 0.26499
Oct 3, 2022 Oct 4, 2022 Oct 7, 2022 0.29601
Sep 1, 2022 Sep 2, 2022 Sep 8, 2022 0.26661
Aug 1, 2022 Aug 2, 2022 Aug 5, 2022 0.27172
Jul 1, 2022 Jul 5, 2022 Jul 8, 2022 0.26710

Option Adjusted Duration is a measure of the potential responsiveness of a bond or portfolio price to parallel shifts in interest rates.

The values shown are based off of a price provided by the Fund’s third-party index provider, using the bid price for each security (the “index price”). Because the Fund values its securities at the midpoint between the bid and ask prices for most securities, the index price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). The values shown may have been different if the valuation price were to have been used to calculate such values. The index price is as of the most recent date for which a price is available, and may not necessarily be as of the date shown above.

Market Price: Inception date for Market Price Calculation is as of 9/13/22. Market Returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times.

NAV: Inception date for NAV calculation is as of 9/13/22.

Number of Countries: The number of unique countries that have issued bonds represented in the fund.

Spread to Worst: Spread to worst is a bond’s yield to worst minus the yield at a point on the fair value government yield curve that corresponds to the bond’s expected redemption date.

NAV: Inception date for NAV calculation is as of 2/15/22.

Premium Discount disclosure to be added here.

Index disclosure to be added here.

Market Price: Inception date for Market Price Calculation is as of 2/17/22. Market Returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times.

Total return disclosure to be added here.

The Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Index Market Cap represents aggregate market value of bonds in the underlying index.

The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-Month yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made per the past twelve months.

30 Day SEC Yield: A standard calculation of yield introduced by the SEC in order to provide fairer comparison among funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the Fund’s expenses for the period. It does not reflect the yield an investor would have received if they had held the Fund over the last twelve months assuming the most recent NAV. Distributions may vary from time to time.

Spread Duration is a measure of the potential responsiveness of a bond or portfolio price to changes in credit spread.

The values shown are based off of a price provided by the Fund’s third-party index provider, using the bid price for each security (the “index price”). Because the Fund values its securities at the midpoint between the bid and ask prices for most securities, the index price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). The values shown may have been different if the valuation price were to have been used to calculate such values. The index price is as of the most recent date for which a price is available, and may not necessarily be as of the date shown above.

Option Adjusted Spread (OAS): For a bond, the option-adjusted spread is the measurement of the spread between the bond and the underlying government yield curve. For an Index, the average of its constituent security government option-adjusted spreads, weighted by full market value. 

The values shown are based off of a price provided by the Fund’s third-party index provider, using the bid price for each security (the “index price”). Because the Fund values its securities at the midpoint between the bid and ask prices for most securities, the index price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). The values shown may have been different if the valuation price were to have been used to calculate such values. The index price is as of the most recent date for which a price is available, and may not necessarily be as of the date shown above.

Yield to Worst: The bond yield computed by using the lower of either the yield to maturity or the yield to call on every possible call date.

The values shown are based off of a price provided by the Fund’s third-party index provider, using the bid price for each security (the “index price”). Because the Fund values its securities at the midpoint between the bid and ask prices for most securities, the index price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). The values shown may have been different if the valuation price were to have been used to calculate such values. The index price is as of the most recent date for which a price is available, and may not necessarily be as of the date shown above.

Yield to Maturity: The discount rate that equates the present value of a bond’s cash flows with its market price (including accrued interest). The Fund Average Yield to Maturity is the weighted average of the fund’s individual bond holding yields based on Net Asset Value (‘NAV’). The measure does not include fees and expenses. For callable bonds, this yield is the yield-to-worst.

The values shown are based off of a price provided by the Fund’s third-party index provider, using the bid price for each security (the “index price”). Because the Fund values its securities at the midpoint between the bid and ask prices for most securities, the index price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). The values shown may have been different if the valuation price were to have been used to calculate such values. The index price is as of the most recent date for which a price is available, and may not necessarily be as of the date shown above.

Average Maturity: The average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

Average Coupon: The average coupon rate of the underlying bonds in the fund, weighted by each bond’s face value.

Number of Issuers: The number of unique companies that have issued bonds represented in the fund (distinct from the number of issues from a company).

Expense Ratio: As stated in the Fund’s current prospectus.

Acquired Fund Fees and Expenses (“AFFE”) reflect the Fund’s pro rata share of the indirect fees and expenses incurred by investing in one or more acquired funds, such as mutual funds, business development companies, or other pooled investment vehicles. AFFE are reflected in the prices of the acquired funds and thus included in the total returns of the Fund.

NAIC Rating: Property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. An NAIC Designation is a proprietary symbol used by the NAIC Securities Valuation Office (SVO) to denote a category or band of credit risk (i.e., the likelihood of repayment in accordance with a written contract) for an issuer or for a security. NAIC Designations may be notched up or down to reflect the position of a specific liability in the issuer’s capital structure and/or the existence of other non-payment risk in the specific security. Under NAIC reporting rules, shares of an ETF are presumed to be reportable as common stock. The SVO may classify an ETF as a bond or preferred stock and assign it an NAIC Designation if it meets defined criteria. For a discussion of these criteria please call the SVO or refer to the Purposes and Procedures Manual of the NAIC Investment Analysis Office. The assignment of an NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

The Securities Valuation Office (“SVO”) of the National Association of Insurance Commissioners (“NAIC”) assesses the credit quality of fixed income securities owned by state-regulated insurance companies and assigns appropriate NAIC designations, ranging from the highest quality of “1” to the lowest of “6.”  For more information visit https://content.naic.org/