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XB

BondBloxx B Rated USD High Yield Corporate Bond ETF

Net asset value

$39.49

EXPENSE RATIO

0.30%

Yield to Maturity

7.86%

30-Day Sec Yield

7.64%
ALL DATA AS OF 03/27/2024, UNLESS OTHERWISE STATED. 30-DAY SEC YIELD AS OF 02/29/2024. 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 $13,822,665
Shares Outstanding 350,000
Median Spread 0.51%
Premium Discount Ratio 0.24%
Closing Price as of 03/27/2024 $39.59

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 632
Number of Issuers 398
Average Coupon 6.57%
Average Maturity 4.55 Years
* 30-Day SEC Yield is as of 02/29/2024
Yield to Maturity 7.86%
Yield to Worst 7.67%
Option Adjusted Spread 309
Spread Duration 2.84
30-Day SEC Yield* 7.64%

Portfolio Breakdown

Corporate 99%
Cash and Equivalents 1.1%
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 $482.078B

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
TransDigm Inc. 1.98 %
CSC Holdings LLC 1.91 %
Community Health Systems Incorporated 1.55 %
Carnival Corporation 1.51 %
Mozart Debt Merger Subordinated Inc. 1.37 %
Altice France S.A 1.23 %
Bombardier Inc. 1.22 %
Cash and Equivalents 1.05 %
Univision Commmunications Inc. 1.03 %
Goodyear Tire & Rubber Co. The 1.01 %
Name CUSIP Market Value % of Net Assets
CASH CASH $144,580.28 1.050 %
MEDLINE BORROW 3.875% 04/01/29 62482BAA0 $123,079.29 0.890 %
CLOUD SOFTWARE G 6.5% 03/31/29 88632QAE3 $113,831.94 0.820 %
HUB INTERNATION 7.25% 06/15/30 44332PAH4 $99,631.07 0.720 %
CARNIVAL CORP 5.75% 03/01/27 143658BN1 $89,493.69 0.650 %
MAUSER PACKAGI 7.875% 08/15/26 57763RAB3 $82,169.30 0.590 %
TENET HEALTHCA 6.125% 10/01/28 88033GDK3 $79,788.94 0.580 %
NEPTUNE BIDCO U 9.29% 04/15/29 640695AA0 $79,072.66 0.570 %
UNITI GROUP/CSL 10.5% 02/15/28 91327TAA9 $77,904.77 0.560 %
UKG INC 6.875% 02/01/31 90279XAA0 $77,239.05 0.560 %
1011778 BC / NEW R 4% 10/15/30 68245XAM1 $77,319.43 0.560 %
DAVITA INC 4.625% 06/01/30 23918KAS7 $72,746.78 0.530 %
CARNIVAL HLDG 10.375% 05/01/28 14366RAA7 $68,009.91 0.490 %
MEDLINE BORROWE 5.25% 10/01/29 62482BAB8 $66,272.02 0.480 %
STAPLES INC 7.5% 04/15/26 855030AN2 $60,597.26 0.440 %
CSC HOLDINGS L 11.75% 01/31/29 126307BN6 $61,375.81 0.440 %
SS&C TECHNOLOGIE 5.5% 09/30/27 78466CAC0 $58,830.92 0.430 %
OLYMPUS WTR US 9.75% 11/15/28 25259KAA8 $58,729.31 0.420 %
POST HOLDINGS IN 5.5% 12/15/29 737446AP9 $53,980.53 0.390 %
CAESARS ENTERT 8.125% 07/01/27 28470RAK8 $52,209.56 0.380 %
BOMBARDIER INC 7.875% 04/15/27 097751BT7 $51,890.51 0.380 %
TENNECO INC 8% 11/17/28 880349AU9 $50,655.43 0.370 %
TRANSDIGM INC 6.375% 03/01/29 893647BU0 $50,542.87 0.370 %
UNIVISION COMM 6.625% 06/01/27 914906AU6 $50,054.10 0.360 %
TRANSDIGM INC 5.5% 11/15/27 893647BL0 $49,987.23 0.360 %
ORGANON & CO/O 5.125% 04/30/31 68622TAB7 $49,628.23 0.360 %
ALTICE FINANCIN 5.75% 08/15/29 02154CAH6 $48,352.90 0.350 %
WEATHERFORD IN 8.625% 04/30/30 947075AU1 $48,263.36 0.350 %
CHS/COMMUNITY HEAL 8% 03/15/26 12543DBC3 $48,049.66 0.350 %
CLARIOS GLOBAL L 8.5% 05/15/27 69867DAC2 $46,471.11 0.340 %
ALLIANT HOLD / CO- 7% 01/15/31 01883LAF0 $46,344.43 0.340 %
FRONTIER COMMUNICA 5% 05/01/28 35906ABF4 $47,395.59 0.340 %
ALTICE FRANCE 5.125% 07/15/29 02156LAF8 $46,006.30 0.330 %
CARNIVAL CORP 6% 05/01/29 143658BR2 $45,634.07 0.330 %
CHS/COMMUNITY 5.625% 03/15/27 12543DBG4 $46,198.72 0.330 %
TK ELEVATOR US 5.25% 07/15/27 92537RAA7 $43,962.88 0.320 %
BRAND INDUSTR 10.375% 08/01/30 104931AA8 $43,901.22 0.320 %
CSC HOLDINGS LLC 6.5% 02/01/29 126307AZ0 $43,374.29 0.310 %
ALTICE FRANCE SA 5.5% 10/15/29 02156LAH4 $42,538.84 0.310 %
BAUSCH HEALTH CO 5.5% 11/01/25 91911KAN2 $43,247.17 0.310 %
BAUSCH + LOMB 8.375% 10/01/28 071705AA5 $41,518.40 0.300 %
TRANSDIGM INC 6.75% 08/15/28 893647BR7 $40,998.09 0.300 %
ATLAS LUXCO 4 4.625% 06/01/28 019579AA9 $41,777.98 0.300 %
SPIRIT AEROSYST 9.75% 11/15/30 85205TAR1 $40,358.35 0.290 %
TENET HEALTHCAR 6.25% 02/01/27 88033GDS6 $40,379.51 0.290 %
ALTICE FRANCE 8.125% 02/01/27 02156LAA9 $39,859.55 0.290 %
CARNIVAL CORP 7.625% 03/01/26 143658BL5 $40,755.34 0.290 %
FRONTIER COMMU 5.875% 10/15/27 35906ABE7 $39,733.41 0.290 %
TRANSDIGM INC 6.625% 03/01/32 893647BV8 $40,637.57 0.290 %
NCL CORPORATIO 5.875% 03/15/26 62886HBA8 $39,648.28 0.290 %
LIFEPOINT HEALTH 11% 10/15/30 53219LAW9 $39,221.16 0.280 %
COMPASS GROUP D 5.25% 04/15/29 20451RAB8 $39,011.78 0.280 %
HAWAIIAN BRAND 5.75% 01/20/26 41984LAA5 $38,062.21 0.280 %
CALPINE CORP 5.125% 03/15/28 131347CN4 $38,434.06 0.280 %
CHS/COMMUNITY 10.875% 01/15/32 12543DBN9 $37,256.06 0.270 %
CALPINE CORP 5% 02/01/31 131347CQ7 $37,238.51 0.270 %
DAVITA INC 3.75% 02/15/31 23918KAT5 $37,932.05 0.270 %
FRONTIER COMMUN 8.75% 05/15/30 35908MAD2 $36,916.09 0.270 %
WINDSTREAM ESCR 7.75% 08/15/28 97382WAA1 $37,321.35 0.270 %
WAND NEWCO 3 I 7.625% 01/30/32 933940AA6 $36,671.67 0.270 %
CHS/COMMUNITY H 5.25% 05/15/30 12543DBM1 $37,625.03 0.270 %
BAUSCH HEALTH COS 11% 09/30/28 071734AQ0 $36,850.00 0.270 %
CSC HOLDINGS LLC 5.5% 04/15/27 126307AQ0 $36,682.13 0.270 %
GENESIS ENERGY LP/ 8% 01/15/27 37185LAM4 $35,967.28 0.260 %
SELECT MEDICAL 6.25% 08/15/26 816196AT6 $35,353.96 0.260 %
CITGO PETROLEUM CO 7% 06/15/25 17302XAK2 $35,694.58 0.260 %
UNIVISION COMMUNIC 8% 08/15/28 914906AY8 $36,022.61 0.260 %
CSC HOLDINGS LLC 4.5% 11/15/31 126307BH9 $36,343.26 0.260 %
ILIAD HOLDING SA 6.5% 10/15/26 449691AA2 $35,673.51 0.260 %
CLARIOS GLOBAL 6.25% 05/15/26 69867DAA6 $35,812.99 0.260 %
ALLIANT HOLD / 6.75% 04/15/28 01883LAE3 $36,322.78 0.260 %
NGL ENRGY OP/F 8.375% 02/15/32 62922LAD0 $36,353.44 0.260 %
HERC HOLDINGS IN 5.5% 07/15/27 42704LAA2 $34,758.36 0.250 %
POST HOLDINGS 5.625% 01/15/28 737446AN4 $34,827.13 0.250 %
PETSMART INC/PE 7.75% 02/15/29 71677KAB4 $34,538.19 0.250 %
TRIUMPH GROUP INC 9% 03/15/28 896818AU5 $33,925.85 0.250 %
MOHEGAN TRIBAL GAM 8% 02/01/26 608328BH2 $34,646.91 0.250 %
POST HOLDINGS IN 4.5% 09/15/31 737446AR5 $35,074.98 0.250 %
PRIME SECSRVC B 6.25% 01/15/28 74166MAE6 $34,804.57 0.250 %
ARAMARK SERVICES I 5% 02/01/28 038522AQ1 $34,064.80 0.250 %
LIVE NATION ENT 4.75% 10/15/27 538034AR0 $34,129.78 0.250 %
ARCHROCK PARTNE 6.25% 04/01/28 03959KAC4 $34,584.75 0.250 %
GOODYEAR TIRE & RU 5% 05/31/26 382550BF7 $34,905.97 0.250 %
CAESARS ENTERT 4.625% 10/15/29 12769GAA8 $32,785.10 0.240 %
COMSTOCK RESOUR 6.75% 03/01/29 205768AS3 $33,563.79 0.240 %
ZAYO GROUP HOLDING 4% 03/01/27 98919VAA3 $33,080.77 0.240 %
CHURCHILL DOWNS 5.75% 04/01/30 12511VAA6 $33,809.56 0.240 %
TELECOM ITALIA 6.375% 11/15/33 87927VAF5 $33,828.71 0.240 %
WR GRACE HOLDI 4.875% 06/15/27 92943GAD3 $33,791.23 0.240 %
EG GLOBAL FINANCE 12% 11/30/28 28228PAC5 $33,143.84 0.240 %
CARNIVAL CORP 10.5% 06/01/30 143658BS0 $33,861.51 0.240 %
CLEAR CHANNEL 5.125% 08/15/27 18453HAA4 $33,217.44 0.240 %
STAR PARENT INC 9% 10/01/30 855170AA4 $31,701.43 0.230 %
TRANSDIGM INC 6.875% 12/15/30 893647BS5 $31,217.31 0.230 %
CITGO PETROLEU 8.375% 01/15/29 17302XAN6 $31,984.52 0.230 %
ARDAGH PKG FIN 4.125% 08/15/26 03969AAN0 $32,248.91 0.230 %
ITT HOLDINGS LLC 6.5% 08/01/29 45074JAA2 $32,270.99 0.230 %
GENESIS ENERGY 8.25% 01/15/29 37185LAP7 $31,542.62 0.230 %
ALLIED UNIVERS 6.625% 07/15/26 019576AA5 $32,390.37 0.230 %
BORR IHC LTD / BO 10% 11/15/28 100018AA8 $32,455.52 0.230 %
H&E EQUIPMENT 3.875% 12/15/28 404030AJ7 $32,440.72 0.230 %
NGL ENRGY OP/F 8.125% 02/15/29 62922LAC2 $31,127.77 0.230 %
UNIVISION COMMUN 4.5% 05/01/29 914906AV4 $31,942.30 0.230 %
HUSKY INJECTION / 9% 02/15/29 44805RAA3 $31,491.85 0.230 %
VALARIS LTD 8.375% 04/30/30 91889FAC5 $31,933.40 0.230 %
EQUIPMENTSHARE.COM 9% 05/15/28 29450YAA7 $31,925.61 0.230 %
MEDLINE BORROWE 6.25% 04/01/29 58506DAA6 $30,157.79 0.220 %
ALTICE FRANCE SA 5.5% 01/15/28 02156LAC5 $29,998.00 0.220 %
HOWDEN UK REFIN 7.25% 02/15/31 44287GAA4 $30,357.55 0.220 %
TELECOM ITALIA 7.721% 06/04/38 87927VAV0 $30,773.06 0.220 %
NCL CORPORATIO 5.875% 02/15/27 62886HBE0 $29,859.81 0.220 %
COINBASE GLOBA 3.375% 10/01/28 19260QAC1 $30,050.95 0.220 %
ASTON MARTIN CAPI 10% 03/31/29 04625HAJ8 $30,590.98 0.220 %
ALLIED UNIVERS 7.875% 02/15/31 019576AD9 $30,638.81 0.220 %
ASCENT RESOURCES/A 7% 11/01/26 04364VAG8 $30,944.98 0.220 %
TRIVIUM PACKAGIN 5.5% 08/15/26 89686QAA4 $29,771.88 0.220 %
MOSS CREEK RESOU 7.5% 01/15/26 61965RAA3 $30,475.56 0.220 %
GRAY TELEVISIO 5.375% 11/15/31 389286AA3 $30,466.22 0.220 %
CINEMARK USA IN 5.25% 07/15/28 172441BF3 $28,743.85 0.210 %
VIKING CRUISES 5.875% 09/15/27 92676XAD9 $29,520.14 0.210 %
HILTON GRAND VAC B 5% 06/01/29 43284MAA6 $28,487.64 0.210 %
ENCOMPASS HEALTH 4.5% 02/01/28 29261AAA8 $28,774.55 0.210 %
KENNEDY-WILSON 4.75% 03/01/29 489399AL9 $29,005.16 0.210 %
MALLINCKRODT F 14.75% 11/14/28 561233AN7 $28,778.16 0.210 %
US FOODS INC 4.75% 02/15/29 90290MAD3 $28,698.89 0.210 %
SOTHEBY'S 7.375% 10/15/27 835898AH0 $28,688.16 0.210 %
TRANSOCEAN INC 8.75% 02/15/30 893830BX6 $28,417.35 0.210 %
SCIH SALT HOLD 4.875% 05/01/28 78433BAA6 $28,600.05 0.210 %
GRIFFON CORPORA 5.75% 03/01/28 398433AP7 $29,520.92 0.210 %
ALTICE FINANCING S 5% 01/15/28 02154CAF0 $29,338.62 0.210 %
LCM INVESTMENT 4.875% 05/01/29 50190EAA2 $28,205.96 0.200 %
COMSTOCK RESOU 5.875% 01/15/30 205768AT1 $27,558.48 0.200 %
TELECOM ITALIA CAP 6% 09/30/34 87927VAM0 $27,410.37 0.200 %
OLYMPUS WTR US 4.25% 10/01/28 681639AA8 $27,223.51 0.200 %
BOMBARDIER INC 8.75% 11/15/30 097751CA7 $27,547.99 0.200 %
TRONOX INC 4.625% 03/15/29 897051AC2 $27,162.28 0.200 %
RAKUTEN GROUP INC V/R /PERP/ 75102WAB4 $27,551.48 0.200 %
MIDAS OPCO HOL 5.625% 08/15/29 59565JAA9 $27,421.21 0.200 %
FREEDOM MORTGAGE 12% 10/01/28 35640YAK3 $27,296.83 0.200 %
AVIS BUDGET CA 5.375% 03/01/29 053773BF3 $28,110.40 0.200 %
FERTITTA ENTER 4.625% 01/15/29 31556TAA7 $27,801.46 0.200 %
VIRGIN MEDIA FINAN 5% 07/15/30 92769VAJ8 $25,755.86 0.190 %
BOMBARDIER INC 7.5% 02/01/29 097751BZ3 $26,067.66 0.190 %
BLUE RACER MID 7.625% 12/15/25 095796AH1 $25,699.40 0.190 %
TRANSOCEAN TIT 8.375% 02/01/28 89386MAA6 $26,389.44 0.190 %
LCM INVESTMENTS 8.25% 08/01/31 50190EAC8 $26,467.91 0.190 %
PRIME HEALTHCAR 7.25% 11/01/25 74165HAB4 $25,652.35 0.190 %
CNT PRNT/CDK GLO I 8% 06/15/29 154915AA0 $26,489.05 0.190 %
CALLON PETROLEUM 8% 08/01/28 13123XBD3 $26,526.45 0.190 %
OWENS-BROCKWAY 6.625% 05/13/27 69073TAT0 $25,613.33 0.190 %
BELLRING BRANDS IN 7% 03/15/30 07831CAA1 $25,892.65 0.190 %
MERCER INTL IN 5.125% 02/01/29 588056BB6 $26,551.37 0.190 %
BOMBARDIER INC 7.125% 06/15/26 097751BV2 $25,895.47 0.190 %
CLEAR CHANNEL OUTD 9% 09/15/28 18453HAE6 $26,170.61 0.190 %
RITCHIE BROS HL 7.75% 03/15/31 76774LAC1 $26,343.77 0.190 %
KODIAK GAS SERV 7.25% 02/15/29 50012LAC8 $25,750.37 0.190 %
VITAL ENERGY I 7.875% 04/15/32 516806AK2 $25,604.44 0.190 %
WINDSOR HOLDINGS 8.5% 06/15/30 97360AAA5 $26,860.97 0.190 %
CSC HOLDINGS L 11.25% 05/15/28 126307BM8 $25,842.10 0.190 %
MPH ACQUISITION 5.5% 09/01/28 553283AD4 $25,666.04 0.190 %
ARCHES BUYER IN 4.25% 06/01/28 039524AA1 $26,795.92 0.190 %
TELECOM ITALIA C 7.2% 07/18/36 87927VAR9 $24,726.09 0.180 %
NATIONSTAR MTG 7.125% 02/01/32 63861CAF6 $25,166.11 0.180 %
APX GROUP INC 5.75% 07/15/29 00213MAW4 $24,365.35 0.180 %
ARDONAGH FINCO 7.75% 02/15/31 039853AA4 $25,183.69 0.180 %
NESCO HOLDINGS I 5.5% 04/15/29 64083YAA9 $24,266.88 0.180 %
CLEAR CHANNEL 7.875% 04/01/30 18453HAF3 $24,940.07 0.180 %
WASH MULTIFAM A 5.75% 04/15/26 93710WAA3 $25,215.02 0.180 %
AVIS BUDGET CAR 5.75% 07/15/27 053773BC0 $24,508.66 0.180 %
SC GAMES HOLDI 6.625% 03/01/30 80874DAA4 $24,297.88 0.180 %
ADIENT GLOBAL 4.875% 08/15/26 00687YAA3 $24,619.18 0.180 %
HANESBRANDS IN 4.875% 05/15/26 410345AL6 $24,733.01 0.180 %
ILIAD HOLDING SAS 7% 10/15/28 449691AC8 $25,558.57 0.180 %
PENN ENTERTAIN 5.625% 01/15/27 707569AS8 $24,490.04 0.180 %
ARDAGH METAL PACKA 4% 09/01/29 03969YAB4 $24,638.05 0.180 %
USA COM PART/U 6.875% 09/01/27 91740PAF5 $25,224.80 0.180 %
BAUSCH HEALTH 6.125% 02/01/27 071734AP2 $25,326.12 0.180 %
GENESIS ENERGY 7.75% 02/01/28 37185LAL6 $25,390.65 0.180 %
BROOKFIELD PPTY 5.75% 05/15/26 11284DAA3 $25,050.40 0.180 %
NFP CORP 4.875% 08/15/28 65342RAE0 $25,215.92 0.180 %
USA COM PART/U 7.125% 03/15/29 91740PAG3 $25,471.66 0.180 %
UNIVISION COMM 7.375% 06/30/30 914906AX0 $25,181.92 0.180 %
STATION CASINOS 4.5% 02/15/28 857691AG4 $23,689.51 0.170 %
SCOTTS MIRACLE-G 4.5% 10/15/29 810186AS5 $23,147.73 0.170 %
PACTIV EVERGREEN G 4% 10/15/27 76174LAA1 $23,768.22 0.170 %
GFL ENVIRONMENT 4.75% 06/15/29 36168QAN4 $23,849.38 0.170 %
NCR VOYIX CORP 5% 10/01/28 62886EAY4 $23,319.62 0.170 %
FERRELLGAS LP/ 5.875% 04/01/29 315289AC2 $23,932.93 0.170 %
CHS/COMMUNITY H 4.75% 02/15/31 12543DBK5 $23,375.69 0.170 %
LABL INC 5.875% 11/01/28 50168QAC9 $23,551.99 0.170 %
ALLIANT HOLD / 4.25% 10/15/27 01883LAB9 $24,035.48 0.170 %
PIKE CORP 5.5% 09/01/28 721283AA7 $24,078.18 0.170 %
MARRIOTT OWNERSH 4.5% 06/15/29 57164PAH9 $23,292.89 0.170 %
NCR VOYIX CORP 5.125% 04/15/29 62886EBA5 $23,806.63 0.170 %
CONSTELLIUM SE 3.75% 04/15/29 21039CAB0 $22,892.54 0.170 %
AMWINS GROUP I 4.875% 06/30/29 031921AB5 $23,656.70 0.170 %
CLARIV SCI HLD 4.875% 07/01/29 18064PAD1 $23,477.34 0.170 %
ENERGIZER HOLDI 4.75% 06/15/28 29272WAC3 $23,484.56 0.170 %
NATIONSTAR MTG 5.125% 12/15/30 63861CAD1 $23,046.72 0.170 %
HERTZ CORP/THE 5% 12/01/29 428040DB2 $23,700.04 0.170 %
MCGRAW-HILL EDU 5.75% 08/01/28 57767XAA8 $23,844.79 0.170 %
KEDRION SPA 6.5% 09/01/29 49272YAB9 $23,095.20 0.170 %
ENCOMPASS HEALT 4.75% 02/01/30 29261AAB6 $23,610.98 0.170 %
GRAY TELEVISION IN 7% 05/15/27 389284AA8 $23,892.93 0.170 %
SERVICE PROPERT 3.95% 01/15/28 44106MAX0 $21,539.89 0.160 %
COVANTA HOLDIN 4.875% 12/01/29 22303XAA3 $22,768.18 0.160 %
VIKING CRUISES 9.125% 07/15/31 92676XAG2 $22,259.91 0.160 %
CALLON PETROLEUM 7.5% 06/15/30 13123XBF8 $21,652.81 0.160 %
ENERGIZER HOLD 4.375% 03/31/29 29272WAD1 $22,484.63 0.160 %
CSC HOLDINGS L 5.375% 02/01/28 126307AS6 $21,817.27 0.160 %
TALOS PRODUCTION I 9% 02/01/29 87485LAD6 $21,494.18 0.160 %
LEVEL 3 FINANCI 10.5% 05/15/30 527298BU6 $21,675.83 0.160 %
SABRE GLBL INC 8.625% 06/01/27 78573NAJ1 $22,147.48 0.160 %
VISTAJET MALTA 6.375% 02/01/30 92840JAB5 $22,459.78 0.160 %
ARETEC GROUP INC 10% 08/15/30 04020JAA4 $22,122.61 0.160 %
BAUSCH HEALTH 4.875% 06/01/28 071734AN7 $22,691.94 0.160 %
AMC NETWORKS IN 4.25% 02/15/29 00164VAF0 $21,566.53 0.160 %
NABORS INDUSTR 9.125% 01/31/30 62957HAP0 $21,433.52 0.160 %
CHS/COMMUNITY HEAL 6% 01/15/29 12543DBH2 $22,145.02 0.160 %
HRT DNT / HRT D 10.5% 04/30/28 42239PAB5 $21,950.47 0.160 %
SIMMONS FOOD I 4.625% 03/01/29 82873MAA1 $22,111.86 0.160 %
HOWARD MIDSTRE 8.875% 07/15/28 442722AB0 $21,557.94 0.160 %
VERDE PURCHASER 10.5% 11/30/30 92339LAA0 $21,773.99 0.160 %
CSC HOLDINGS L 4.125% 12/01/30 126307BB2 $21,754.70 0.160 %
BROOKFIELD RES 4.875% 02/15/30 11283YAD2 $22,624.81 0.160 %
SITIO ROYAL OP 7.875% 11/01/28 82983MAB6 $21,494.57 0.160 %
MICHAELS COS IN 5.25% 05/01/28 55916AAA2 $21,740.03 0.160 %
CONSOLIDATED COM 6.5% 10/01/28 20903XAF0 $21,880.12 0.160 %
AMERICAN AXLE & MF 5% 10/01/29 02406PBB5 $22,481.34 0.160 %
ENCINO ACQUISITI 8.5% 05/01/28 29254BAA5 $20,860.05 0.150 %
AETHON UN/AETHI 8.25% 02/15/26 00810GAC8 $20,463.64 0.150 %
MGM RESORTS INT 6.75% 05/01/25 552953CG4 $20,563.98 0.150 %
ARTERA SERVICES 8.5% 02/15/31 04302XAA2 $20,736.27 0.150 %
NORTHERN OIL & 8.125% 03/01/28 665531AG4 $20,518.00 0.150 %
VECTOR GROUP LT 10.5% 11/01/26 92240MBJ6 $20,998.75 0.150 %
JB POINDEXTER & 8.75% 12/15/31 465965AC5 $21,146.87 0.150 %
MGM RESORTS INT 5.75% 06/15/25 552953CE9 $20,314.17 0.150 %
FRONTIER COMMU 8.625% 03/15/31 35908MAE0 $20,441.53 0.150 %
BEAZER HOMES U 5.875% 10/15/27 07556QBR5 $20,154.44 0.150 %
CONSOLIDATED ENER 12% 02/15/31 20914UAH9 $20,823.37 0.150 %
VALVOLINE INC 4.25% 02/15/30 92047WAD3 $20,351.94 0.150 %
VIKING CRUISES LTD 7% 02/15/29 92676XAF4 $20,269.76 0.150 %
CHURCHILL DOWNS 6.75% 05/01/31 171484AJ7 $20,701.31 0.150 %
CEC ENTERTAINME 6.75% 05/01/26 125137AC3 $20,402.21 0.150 %
CLARIOS GLOBAL 6.75% 05/15/28 18060TAC9 $20,745.09 0.150 %
AMC NETWORKS IN 4.75% 08/01/25 00164VAE3 $20,170.64 0.150 %
ITHACA ENERGY NORT 9% 07/15/26 46567TAB0 $20,559.90 0.150 %
SUMMIT MID HLDS S/UP 10/15/26 86614WAE6 $21,055.76 0.150 %
FREEDOM MORTGAG 9.25% 02/01/29 35641AAA6 $20,730.70 0.150 %
ECO MATERIAL T 7.875% 01/31/27 27900QAA4 $20,576.27 0.150 %
MGM RESORTS INTL 5.5% 04/15/27 552953CF6 $20,254.14 0.150 %
SIX FLAGS ENTERT 5.5% 04/15/27 83001AAC6 $20,065.59 0.150 %
TRANSDIGM INC 7.125% 12/01/31 893647BT3 $21,137.07 0.150 %
ENERFLEX LTD 9% 10/15/27 29269RAA3 $21,323.96 0.150 %
HANESBRANDS INC 9% 02/15/31 410345AQ5 $20,769.84 0.150 %
CEDAR FAIR/CAN 5.375% 04/15/27 150190AB2 $20,202.31 0.150 %
LIFEPOINT HEAL 9.875% 08/15/30 53219LAV1 $21,190.80 0.150 %
AMERIGAS PART/ 5.875% 08/20/26 030981AJ3 $20,109.51 0.150 %
AMERIGAS PART/FI 5.5% 05/20/25 030981AK0 $20,402.45 0.150 %
KEHE DIST/FIN / NE 9% 02/15/29 487526AC9 $20,571.16 0.150 %
LIGHT & WONDER 7.25% 11/15/29 80874YBE9 $21,090.77 0.150 %
ELANCO ANIMAL H 6.65% 08/28/28 28414HAG8 $20,422.41 0.150 %
NABORS INDUSTR 7.375% 05/15/27 62957HAJ4 $20,522.40 0.150 %
AMWINS GROUP I 6.375% 02/15/29 031921AC3 $20,269.09 0.150 %
CAMELOT RETURN 8.75% 08/01/28 13323NAA0 $20,879.09 0.150 %
HTA GROUP LTD 7% 12/18/25 40435WAB6 $20,383.09 0.150 %
CD&R SMOKEY BUY 6.75% 07/15/25 12510CAA9 $20,133.48 0.150 %
CNTRL PARENT/CD 7.25% 06/15/29 15477CAA3 $20,870.76 0.150 %
SIX FLAGS ENTER 7.25% 05/15/31 83001AAD4 $20,821.27 0.150 %
PRECISION DRIL 6.875% 01/15/29 740212AM7 $20,229.21 0.150 %
IRB HOLDING CORP 7% 06/15/25 44988MAC9 $20,440.96 0.150 %
CITGO PETROLEU 6.375% 06/15/26 17302XAM8 $20,439.95 0.150 %
GOODYEAR TIRE & 9.5% 05/31/25 382550BH3 $20,818.90 0.150 %
VITAL ENERGY 10.125% 01/15/28 516806AG1 $21,411.21 0.150 %
JONES DESLAURIER 8.5% 03/15/30 48020RAB1 $20,984.39 0.150 %
OWENS-BROCKWAY 7.25% 05/15/31 69073TAU7 $20,865.33 0.150 %
GLOBAL PART/GLP FI 7% 08/01/27 37954FAG9 $20,262.17 0.150 %
HUNT COS INC 5.25% 04/15/29 445587AE8 $18,748.75 0.140 %
USA COM PART/U 6.875% 04/01/26 91740PAC2 $19,981.94 0.140 %
CHURCHILL DOWNS 5.5% 04/01/27 171484AG3 $19,634.13 0.140 %
LEGACY LIFEPOI 4.375% 02/15/27 53219LAS8 $19,192.10 0.140 %
GCI LLC 4.75% 10/15/28 36166TAB6 $18,818.57 0.140 %
GLOBAL INFRAST 5.625% 06/01/29 37960XAA5 $18,733.70 0.140 %
NATIONSTAR MTG HLD 6% 01/15/27 63861CAA7 $19,975.58 0.140 %
ADVANTAGE SALES 6.5% 11/15/28 00775PAA5 $19,318.95 0.140 %
PROG HOLDINGS INC 6% 11/15/29 74319RAA9 $19,138.71 0.140 %
SRS DISTRIBUTI 4.625% 07/01/28 78471RAB2 $18,925.71 0.140 %
ARDAGH PKG FIN/ 5.25% 04/30/25 03969AAQ3 $19,798.07 0.140 %
CHEMOURS CO 5.75% 11/15/28 163851AF5 $19,027.34 0.140 %
GOODYEAR TIRE 4.875% 03/15/27 382550BG5 $19,379.68 0.140 %
FERRELLGAS LP/ 5.375% 04/01/26 315289AA6 $19,626.01 0.140 %
WILLIAMS SCOTS 4.625% 08/15/28 96950GAE2 $19,031.76 0.140 %
NATIONSTAR MTG 5.75% 11/15/31 63861CAE9 $18,899.00 0.140 %
ROCKCLIFF ENERGY 5.5% 10/15/29 77289KAA3 $19,232.89 0.140 %
GOODYEAR TIRE & RU 5% 07/15/29 382550BN0 $18,912.70 0.140 %
BOMBARDIER INC 6% 02/15/28 097751BX8 $19,852.18 0.140 %
RITHM CAPITAL CORP 8% 04/01/29 64828TAB8 $19,527.31 0.140 %
MGM RESORTS INT 4.75% 10/15/28 552953CH2 $19,462.16 0.140 %
SPECIALTY BUIL 6.375% 09/30/26 84749AAA5 $19,885.18 0.140 %
OUTFRONT MEDIA CAP 5% 08/15/27 69007TAB0 $19,393.85 0.140 %
LSF9 ATL HLDG/V 7.75% 02/15/26 50220MAA8 $20,029.39 0.140 %
NATIONSTAR MTG H 5.5% 08/15/28 63861CAC3 $19,293.51 0.140 %
ZIGGO BOND CO BV 6% 01/15/27 98954UAB9 $19,968.43 0.140 %
GLOBAL AUTO HO 8.375% 01/15/29 00033GAA3 $19,853.39 0.140 %
XHR LP 4.875% 06/01/29 98372MAC9 $18,835.24 0.140 %
CATALENT PHARMA 3.5% 04/01/30 14879EAK4 $19,199.35 0.140 %
1011778 BC / N 4.375% 01/15/28 68245XAJ8 $19,196.71 0.140 %
MIDWEST GMNG B 4.875% 05/01/29 59833DAB6 $18,937.79 0.140 %
SEAWORLD PARKS 5.25% 08/15/29 81282UAG7 $18,912.82 0.140 %
CHURCHILL DOWNS 4.75% 01/15/28 171484AE8 $19,241.53 0.140 %
PACTIV EVERGRE 4.375% 10/15/28 69527AAA4 $19,043.06 0.140 %
SCIL IV LLC / 5.375% 11/01/26 78397UAA8 $19,913.01 0.140 %
VIASAT INC 6.5% 07/15/28 92552VAN0 $19,647.73 0.140 %
HUDBAY MINERAL 6.125% 04/01/29 443628AH5 $19,790.07 0.140 %
BROOKFIELD RESI 6.25% 09/15/27 11283YAB6 $19,611.83 0.140 %
US ACUTE CARE 6.375% 03/01/26 90367UAA9 $19,378.08 0.140 %
CEDAR FAIR LP 5.25% 07/15/29 150190AE6 $19,172.00 0.140 %
INTELLIGENT PACKAG 6% 09/15/28 45827MAA5 $19,085.43 0.140 %
PRIMO WATER HO 4.375% 04/30/29 74168LAA4 $18,765.58 0.140 %
BOYNE USA INC 4.75% 05/15/29 103557AC8 $18,826.40 0.140 %
LABL INC 6.75% 07/15/26 50168AAB6 $19,994.18 0.140 %
TRANSDIGM INC 4.625% 01/15/29 893647BP1 $18,806.77 0.140 %
GRAY TELEVISIO 5.875% 07/15/26 389375AJ5 $19,704.25 0.140 %
MADISON IAQ LL 4.125% 06/30/28 55760LAA5 $18,692.64 0.140 %
CATALENT PHARMA SO 5% 07/15/27 14879EAE8 $19,920.75 0.140 %
SK INVICTUS INTERM 5% 10/30/29 29977LAA9 $18,123.38 0.130 %
GOODYEAR TIRE & 5.25% 07/15/31 382550BR1 $18,467.12 0.130 %
ZI TECH LLC/ZI 3.875% 02/01/29 98981BAA0 $18,145.97 0.130 %
HEALTHEQUITY INC 4.5% 10/01/29 42226AAA5 $18,507.82 0.130 %
BROOKFIELD PPTY 4.5% 04/01/27 11284DAC9 $18,283.05 0.130 %
GFL ENVIRONMENTAL 4% 08/01/28 36168QAL8 $18,536.52 0.130 %
PITNEY BOWES I 6.875% 03/15/27 724479AP5 $18,447.47 0.130 %
CROCS INC 4.125% 08/15/31 227046AB5 $17,453.93 0.130 %
DOMTAR CORP 6.75% 10/01/28 70478JAA2 $18,193.97 0.130 %
CHEMOURS CO 4.625% 11/15/29 163851AH1 $17,811.87 0.130 %
API GROUP DE I 4.125% 07/15/29 001877AA7 $18,206.96 0.130 %
UNITI GROUP/CSL 4.75% 04/15/28 91327BAB6 $17,966.95 0.130 %
FIVE POINT OP C 10.5% 01/15/28 33834YAB4 $17,675.15 0.130 %
SUBURBAN PROPANE P 5% 06/01/31 864486AL9 $18,564.22 0.130 %
ACRISURE LLC / 4.25% 02/15/29 00489LAF0 $18,104.59 0.130 %
ANYWHERE REAL EST/ 7% 04/15/30 75606DAS0 $17,888.44 0.130 %
CORELOGIC INC 4.5% 05/01/28 21871DAD5 $18,344.51 0.130 %
VICTORIA'S SEC 4.625% 07/15/29 926400AA0 $16,626.47 0.120 %
BORR IHC LTD 10.375% 11/15/30 100018AB6 $16,284.53 0.120 %
CALDERYS FINAN 11.25% 06/01/28 128786AA8 $16,719.12 0.120 %
RAISING CANE'S 9.375% 05/01/29 75103AAA3 $16,768.29 0.120 %
SCOTTS MIRACLE-GRO 4% 04/01/31 810186AX4 $17,217.61 0.120 %
AMERIGAS PART/ 9.375% 06/01/28 030981AM6 $15,994.32 0.120 %
CHART INDUSTRIES 9.5% 01/01/31 16115QAG5 $16,707.33 0.120 %
CSC HOLDINGS L 3.375% 02/15/31 126307BF3 $17,117.39 0.120 %
AMERITEX HOLDC 10.25% 10/15/28 030727AA9 $16,914.01 0.120 %
NEWFOLD DIGITA 11.75% 10/15/28 650929AA0 $17,021.30 0.120 %
FTAI INFRA ESC 10.5% 06/01/27 30327TAA7 $16,125.97 0.120 %
ADIENT GLOBAL H 8.25% 04/15/31 00687YAC9 $16,435.34 0.120 %
URBAN ONE INC 7.375% 02/01/28 91705JAC9 $17,250.24 0.120 %
NORTHERN OIL & 8.75% 06/15/31 665530AB7 $16,239.42 0.120 %
VITAL ENERGY IN 9.75% 10/15/30 516806AJ5 $17,069.84 0.120 %
ARSENAL AIC PAR 11.5% 10/01/31 04288BAC4 $16,742.48 0.120 %
BANIJAY ENTERT 8.125% 05/01/29 060335AB2 $16,135.57 0.120 %
BOMBARDIER INC 7.45% 05/01/34 097751AL5 $17,130.01 0.120 %
TALOS PRODUCTI 9.375% 02/01/31 87485LAE4 $16,197.89 0.120 %
UNIFRAX ESCROW 5.25% 09/30/28 90473LAA0 $16,432.74 0.120 %
LEVEL 3 FINANC 3.875% 11/15/29 527298BQ5 $17,229.48 0.120 %
CABLE ONE INC 4% 11/15/30 12685JAC9 $15,935.17 0.120 %
VT TOPCO INC 8.5% 08/15/30 91838PAA9 $15,978.75 0.120 %
ARAGVI FINANCE 8.45% 04/29/26 03851RAB0 $16,273.27 0.120 %
LIGHT & WONDER I 7.5% 09/01/31 531968AA3 $15,703.82 0.110 %
GLOBAL PART/GLP 8.25% 01/15/32 37954FAK0 $15,811.80 0.110 %
EMPIRE COMMUNITIES 7% 12/15/25 29163VAC7 $15,361.38 0.110 %
CVR PARTNERS/C 6.125% 06/15/28 12663QAC9 $14,696.09 0.110 %
NEW ENTERPRISE 5.25% 07/15/28 644274AH5 $14,563.96 0.110 %
ACI WORLDWIDE I 5.75% 08/15/26 004498AB7 $14,928.03 0.110 %
ATI INC 7.25% 08/15/30 01741RAN2 $15,660.90 0.110 %
ACADIA HEALTHCARE 5% 04/15/29 00404AAP4 $14,597.98 0.110 %
GLOBAL AUTO HO/ 8.75% 01/15/32 00033GAB1 $14,762.28 0.110 %
MGM RESORTS IN 4.625% 09/01/26 552953CD1 $14,725.85 0.110 %
MODIVCARE INC 5.875% 11/15/25 743815AE2 $14,962.83 0.110 %
FREEDOM MORTGA 6.625% 01/15/27 35640YAJ6 $14,773.42 0.110 %
COGENT COMMUNICATI 7% 06/15/27 19240CAE3 $15,250.42 0.110 %
MICROSTRATEGY 6.125% 06/15/28 594972AF8 $14,754.68 0.110 %
COMPASS MINERAL 6.75% 12/01/27 20451NAG6 $14,802.72 0.110 %
AVIS BUDGET CAR/FI 8% 02/15/31 053773BH9 $15,431.30 0.110 %
CIMPRESS PLC 7% 06/15/26 17186HAG7 $15,315.42 0.110 %
STRATHCONA RES 6.875% 08/01/26 86304TAA6 $15,187.18 0.110 %
HERBALIFE/HLF 7.875% 09/01/25 42704MAA0 $15,147.57 0.110 %
ARAMARK SERVICES I 5% 04/01/25 038522AP3 $14,899.97 0.110 %
LIFE TIME INC 8% 04/15/26 53190FAC9 $15,744.05 0.110 %
NCL CORPORATION 7.75% 02/15/29 62886HBG5 $15,747.73 0.110 %
AMERICAN AXLE & 6.5% 04/01/27 02406PAU4 $14,957.95 0.110 %
CVR ENERGY INC 8.5% 01/15/29 12662PAF5 $15,355.59 0.110 %
KRONOS ACQ / KIK 5% 12/31/26 50106GAE2 $14,900.63 0.110 %
VIASAT INC 5.625% 09/15/25 92552VAK6 $14,638.74 0.110 %
BERRY PETROLEUM CO 7% 02/15/26 08580BAA4 $14,938.55 0.110 %
NCL FINANCE LT 6.125% 03/15/28 62888HAA7 $14,859.79 0.110 %
RAIN CARBON IN 12.25% 09/01/29 75079LAB7 $15,680.17 0.110 %
PGT INNOVATION 4.375% 10/01/29 69336VAB7 $15,241.02 0.110 %
LIGHT & WONDER INT 7% 05/15/28 80874YBC3 $15,512.57 0.110 %
DELEK LOG PART 7.125% 06/01/28 24665FAC6 $15,008.18 0.110 %
UPBOUND GROUP 6.375% 02/15/29 76009NAL4 $14,647.95 0.110 %
GULFPORT ENERGY OP 8% 05/17/26 402635AR7 $15,656.09 0.110 %
BOXER PARENT C 7.125% 10/02/25 103186AB8 $15,003.29 0.110 %
TRANSOCEAN AQUILA 8% 09/30/28 893790AA3 $15,394.94 0.110 %
LEVEL 3 FINANCIN 3.4% 03/01/27 527298BP7 $15,650.60 0.110 %
HUDBAY MINERALS 4.5% 04/01/26 443628AJ1 $14,554.77 0.110 %
EVERI HOLDINGS INC 5% 07/15/29 30034TAA1 $15,006.14 0.110 %
CERDIA FINANZ G 10.5% 02/15/27 15679GAA0 $15,854.16 0.110 %
MERLIN ENTERTA 7.375% 02/15/31 59010UAA5 $15,276.44 0.110 %
B&G FOODS INC 8% 09/15/28 05508WAC9 $15,705.31 0.110 %
TOWNSQUARE MED 6.875% 02/01/26 892231AB7 $14,768.13 0.110 %
STATION CASINO 6.625% 03/15/32 857691AJ8 $15,245.97 0.110 %
CLYDESDALE ACQ 6.625% 04/15/29 18972EAA3 $15,472.24 0.110 %
MILLENNIUM ESC 6.625% 08/01/26 60041CAA6 $14,987.55 0.110 %
DAVE & BUSTER' 7.625% 11/01/25 23833NAH7 $15,599.78 0.110 %
AMS-OSRAM AG 12.25% 03/30/29 03217CAB2 $15,064.83 0.110 %
CALIFORNIA RES 7.125% 02/01/26 13057QAH0 $15,304.67 0.110 %
CHEPLAPHARM ARZN 5.5% 01/15/28 16412EAA5 $14,570.29 0.110 %
US FOODS INC 7.25% 01/15/32 90290MAH4 $15,851.46 0.110 %
ASCENT RESOURCE 8.25% 12/31/28 04364VAR4 $15,595.77 0.110 %
MOBIUS MERGER SUB 9% 06/01/30 606950AA1 $15,314.64 0.110 %
HECLA MINING CO 7.25% 02/15/28 422704AH9 $15,205.78 0.110 %
SUNRISE HOLDCO I 5.5% 01/15/28 90320LAG2 $14,613.94 0.110 %
JACOBS ENTERTAI 6.75% 02/15/29 469815AK0 $14,619.27 0.110 %
WILLIAMS SCOTS 6.125% 06/15/25 71953LAA9 $15,213.92 0.110 %
DIAMOND FRGN/DIA 8.5% 10/01/30 25260WAD3 $15,835.29 0.110 %
SABRE GLBL INC 11.25% 12/15/27 78573NAH5 $14,555.77 0.110 %
CHAMPIONS FINAN 8.75% 02/15/29 15870LAA6 $15,827.98 0.110 %
SINCLAIR TELEV 4.125% 12/01/30 829259BA7 $14,829.13 0.110 %
GARDA WORLD SEC 7.75% 02/15/28 36485MAM1 $15,451.09 0.110 %
TRIPADVISOR INC 7% 07/15/25 896945AA0 $15,239.00 0.110 %
FIESTA PURCHAS 7.875% 03/01/31 31659AAA4 $15,639.52 0.110 %
GATES GLOBAL/GA 6.25% 01/15/26 36740LAA0 $15,208.63 0.110 %
FREEDOM MORTGA 7.625% 05/01/26 35640YAH0 $15,465.17 0.110 %
AG TTMT ESCROW 8.625% 09/30/27 00840KAA7 $15,547.43 0.110 %
CHEMOURS CO 5.375% 05/15/27 163851AE8 $14,757.34 0.110 %
OWENS & MINOR 6.625% 04/01/30 690732AG7 $14,889.61 0.110 %
LIONS GATE CAPIT 5.5% 04/15/29 53627NAE1 $15,760.77 0.110 %
AG ISSUER LLC 6.25% 03/01/28 00119LAA9 $14,779.24 0.110 %
ALBION FINANCIN 8.75% 04/15/27 013305AA5 $15,389.38 0.110 %
TKC HOLDINGS I 6.875% 05/15/28 87256YAC7 $14,578.60 0.110 %
PRESIDIO HOLDI 4.875% 02/01/27 74101XAE0 $14,718.63 0.110 %
AMERIGAS PART/F 5.75% 05/20/27 030981AL8 $14,973.21 0.110 %
LSB INDUSTRIES 6.25% 10/15/28 502160AN4 $14,849.98 0.110 %
SERVICE PROPERT 5.25% 02/15/26 44106MAV4 $14,623.97 0.110 %
SPECTRUM BRAND 3.875% 03/15/31 84762LAX3 $14,509.42 0.100 %
ION TRADING TEC 5.75% 05/15/28 46205YAA9 $14,097.13 0.100 %
GOODYEAR TIRE 5.625% 04/30/33 382550BK6 $14,040.42 0.100 %
CONDUENT BUS SERVI 6% 11/01/29 20679LAB7 $14,004.15 0.100 %
DUN & BRADSTREET C 5% 12/15/29 26483EAL4 $14,045.92 0.100 %
CHOBANI LLC/FI 4.625% 11/15/28 17027NAB8 $14,284.86 0.100 %
GFL ENVIRONMEN 4.375% 08/15/29 36168QAP9 $13,868.60 0.100 %
AFFINITY INTER 6.875% 12/15/27 00842XAA7 $14,361.60 0.100 %
GRUBHUB HOLDINGS 5.5% 07/01/27 40010PAA6 $13,892.79 0.100 %
GOODYEAR TIRE & 5.25% 04/30/31 382550BJ9 $14,101.52 0.100 %
ENVIRI CORP 5.75% 07/31/27 415864AM9 $14,217.43 0.100 %
KAISER ALUMINU 4.625% 03/01/28 483007AJ9 $14,124.98 0.100 %
ELASTIC NV 4.125% 07/15/29 28415LAA1 $13,646.15 0.100 %
GARDA WORLD SE 4.625% 02/15/27 36485MAK5 $14,440.53 0.100 %
HERTZ CORP/THE 4.625% 12/01/26 428040DA4 $13,822.92 0.100 %
ASHTON WOODS U 4.625% 08/01/29 045086AM7 $13,955.06 0.100 %
GRAN TIERRA ENE 7.75% 05/23/27 38502JAA9 $13,280.55 0.100 %
VISTAJET MALTA 7.875% 05/01/27 92840JAD1 $13,156.55 0.100 %
RYAN SPECIALTY 4.375% 02/01/30 78351MAA0 $14,072.15 0.100 %
MIWD HLDCO II/MI 5.5% 02/01/30 55337PAA0 $13,948.92 0.100 %
NCR VOYIX CORP 5.25% 10/01/30 62886EAZ1 $13,587.83 0.100 %
ATI INC 5.125% 10/01/31 01741RAM4 $13,923.39 0.100 %
OUTFRONT MEDIA 4.625% 03/15/30 69007TAC8 $13,495.68 0.100 %
OWENS & MINOR IN 4.5% 03/31/29 690732AF9 $13,747.08 0.100 %
KAISER ALUMINUM 4.5% 06/01/31 483007AL4 $13,517.36 0.100 %
QVC INC 4.75% 02/15/27 747262AY9 $13,433.45 0.100 %
OPTION CARE HE 4.375% 10/31/29 68404LAA0 $14,019.55 0.100 %
RAKUTEN GROUP INC V/R /PERP/ 75102WAA6 $13,457.67 0.100 %
CVR ENERGY INC 5.75% 02/15/28 12662PAD0 $14,180.06 0.100 %
ROLLER BEARING 4.375% 10/15/29 775631AD6 $14,051.13 0.100 %
ZIPRECRUITER INC 5% 01/15/30 98980BAA1 $13,426.89 0.100 %
VISTAJET MALTA/V 9.5% 06/01/28 92841HAA0 $13,233.48 0.100 %
ASHTON WOODS U 4.625% 04/01/30 045086AP0 $13,694.52 0.100 %
US FOODS INC 4.625% 06/01/30 90290MAE1 $14,136.58 0.100 %
CONSENSUS CLOUD 6.5% 10/15/28 20848VAB1 $13,728.46 0.100 %
HLF FIN SARL L 4.875% 06/01/29 40390DAC9 $14,337.38 0.100 %
CATALENT PHARM 3.125% 02/15/29 14879EAH1 $14,433.27 0.100 %
CGG SA 8.75% 04/01/27 12531TAF6 $14,218.50 0.100 %
ELDORADO GOLD C 6.25% 09/01/29 284902AF0 $14,450.52 0.100 %
SCIENCE APPLIC 4.875% 04/01/28 808625AA5 $14,326.35 0.100 %
ADAPTHEALTH LL 5.125% 03/01/30 00653VAE1 $13,131.87 0.100 %
VALVOLINE INC 3.625% 06/15/31 92047WAG6 $13,022.25 0.090 %
CONSOLIDATED E 5.625% 10/15/28 20914UAF3 $12,930.05 0.090 %
ANGI GROUP LLC 3.875% 08/15/28 001846AA2 $13,065.85 0.090 %
XEROX CORPORATI 6.75% 12/15/39 984121CB7 $13,041.85 0.090 %
ARKO CORP 5.125% 11/15/29 041242AA6 $12,745.57 0.090 %
QVC INC 4.375% 09/01/28 747262AZ6 $12,052.12 0.090 %
APOLLO CMMRL R 4.625% 06/15/29 03762UAD7 $12,802.80 0.090 %
SCRIPPS ESCROW 5.875% 07/15/27 81104PAA7 $12,741.58 0.090 %
EVERGREEN ACQCO 9.75% 04/26/28 30015DAA9 $11,963.67 0.090 %
COINBASE GLOBA 3.625% 10/01/31 19260QAD9 $12,203.33 0.090 %
EMBECTA CORP 5% 02/15/30 29082KAA3 $12,321.71 0.090 %
ADAPTHEALTH LL 4.625% 08/01/29 00653VAC5 $13,036.61 0.090 %
NEOGEN FOOD SA 8.625% 07/20/30 365417AA2 $10,930.09 0.080 %
DREAM FINDERS H 8.25% 08/15/28 26154DAA8 $10,560.07 0.080 %
FREEDOM MORTGA 12.25% 10/01/30 35640YAL1 $10,963.10 0.080 %
NFP CORP 8.5% 10/01/31 65342RAG5 $11,022.74 0.080 %
LINDBLAD EXPEDITIO 9% 05/15/28 535219AA7 $10,918.64 0.080 %
MODIVCARE ESCROW I 5% 10/01/29 60783XAA2 $10,859.00 0.080 %
ALTICE FRANCE 5.125% 01/15/29 02156LAE1 $10,475.41 0.080 %
ONT GAMING GTA/OTG 8% 08/01/30 68306MAA7 $10,434.55 0.080 %
INFRABUILD AUST 14.5% 11/15/28 45682RAC4 $10,891.48 0.080 %
SIZZLING PLATT/F 8.5% 11/28/25 830146AB2 $10,411.47 0.080 %
TENET HEALTHCA 6.875% 11/15/31 88033GAV2 $10,716.13 0.080 %
ADAMS HOMES INC 9.25% 10/15/28 00623PAB7 $10,853.96 0.080 %
KENNEDY-WILSON INC 5% 03/01/31 489399AM7 $11,665.24 0.080 %
NORTHWEST FIBER 4.75% 04/30/27 667449AD4 $10,386.48 0.080 %
SPIRIT LOYALTY KY 8% 09/20/25 84859BAB7 $11,584.56 0.080 %
MRT MID PART/MR 11.5% 02/15/28 573334AK5 $10,796.15 0.080 %
VIASAT INC 7.5% 05/30/31 92552VAR1 $11,451.70 0.080 %
PIKE CORP 8.625% 01/31/31 721283AB5 $10,893.63 0.080 %
SPIRIT LOYALTY KY 8% 09/20/25 84859BAA9 $11,584.56 0.080 %
ODEON FINCO PL 12.75% 11/01/27 67585LAA3 $10,578.98 0.080 %
ENQUEST PLC 11.625% 11/01/27 29357JAC0 $10,519.14 0.080 %
GREENFIRE RESOURC 12% 10/01/28 39525UAA5 $10,673.69 0.080 %
WILLIAMS SCOTS 7.375% 10/01/31 96949VAL7 $10,407.35 0.080 %
RR DONNELLEY & 9.75% 07/31/28 257867BG5 $10,998.98 0.080 %
PRAIRIE ACQUIROR L 9% 08/01/29 73943NAA4 $10,373.99 0.080 %
PATRICK INDUSTRI 7.5% 10/15/27 703343AC7 $10,463.45 0.080 %
BRINKER INTERNA 8.25% 07/15/30 109641AK6 $10,710.74 0.080 %
TPC GROUP INC 13% 12/16/27 89236YAG9 $10,670.82 0.080 %
CAPSTONE BORROWER 8% 06/15/30 140944AA7 $10,619.76 0.080 %
ENOVA INTERNAT 11.25% 12/15/28 29357KAH6 $10,924.20 0.080 %
LIKEWIZE CORP 9.75% 10/15/25 10947XAA0 $10,606.32 0.080 %
PAYSAFE FIN PLC/PA 4% 06/15/29 70452AAA1 $9,026.76 0.070 %
MATIV HOLDINGS 6.875% 10/01/26 808541AA4 $9,920.21 0.070 %
WABASH NATIONAL 4.5% 10/15/28 929566AL1 $9,350.87 0.070 %
NEW GOLD INC 7.5% 07/15/27 644535AH9 $10,163.82 0.070 %
BRUNDAGE-BONE CONC 6% 02/01/26 66981QAA4 $9,985.70 0.070 %
PHH MORTGAGE C 7.875% 03/15/26 69356NAA2 $9,729.53 0.070 %
ADAPTHEALTH LL 6.125% 08/01/28 00653VAA9 $9,482.96 0.070 %
US FOODS INC 6.875% 09/15/28 90290MAG6 $10,271.57 0.070 %
SUMMER (BC) BIDC 5.5% 10/31/26 865632AA1 $9,799.92 0.070 %
ATLAS LUXCO 4 4.625% 06/01/28 049362AA4 $9,248.30 0.070 %
VITAL ENERGY IN 7.75% 07/31/29 516806AH9 $10,215.19 0.070 %
CARS.COM INC 6.375% 11/01/28 14575EAA3 $9,983.31 0.070 %
RAILWORKS HOLDI 8.25% 11/15/28 75079MAA7 $10,268.89 0.070 %
XHR LP 6.375% 08/15/25 98372MAA3 $10,092.96 0.070 %
SOLARIS MIDSTR 7.625% 04/01/26 83419MAA0 $10,110.88 0.070 %
GETTY IMAGES IN 9.75% 03/01/27 374276AJ2 $10,098.49 0.070 %
HELIOS SOFT/IO 4.625% 05/01/28 42329HAA6 $9,139.26 0.070 %
TRANSDIGM INC 4.875% 05/01/29 893647BQ9 $9,525.94 0.070 %
CONSTELLIUM SE 5.625% 06/15/28 21039CAA2 $9,909.77 0.070 %
MAGNOLIA OIL GAS/M 6% 08/01/26 559665AA2 $9,925.74 0.070 %
OFFICE PPTY INCOME 9% 03/31/29 67623CAG4 $9,349.49 0.070 %
TURNING POINT 5.625% 02/15/26 90041LAF2 $9,875.46 0.070 %
BEAZER HOMES USA 7.5% 03/15/31 07556QBU8 $10,138.99 0.070 %
RITHM CAPITAL C 6.25% 10/15/25 64828TAA0 $10,189.86 0.070 %
ENPRO INC 5.75% 10/15/26 29355XAG2 $10,195.92 0.070 %
VIRGIN MEDIA VEND 5% 07/15/28 92770QAA5 $9,264.31 0.070 %
G-III APPAREL 7.875% 08/15/25 36237HAA9 $10,118.11 0.070 %
SPEEDWAY MOT/S 4.875% 11/01/27 84779MAA2 $9,728.11 0.070 %
CARRIAGE SERVIC 4.25% 05/15/29 143905AP2 $8,998.79 0.070 %
ENCOMPASS HEAL 4.625% 04/01/31 29261AAE0 $9,109.91 0.070 %
ALTICE FINANCI 9.625% 07/15/27 02154CAJ2 $9,778.36 0.070 %
SERVICE PROPERT 4.75% 10/01/26 44106MBA9 $9,316.42 0.070 %
TEINE ENERGY L 6.875% 04/15/29 879068AB0 $10,058.01 0.070 %
VM CONSOLIDATED 5.5% 04/15/29 91835HAA0 $9,850.81 0.070 %
BRISTOW GROUP 6.875% 03/01/28 11040GAA1 $9,829.01 0.070 %
HILTON GRAND V 4.875% 07/01/31 43284MAB4 $9,081.62 0.070 %
CLARIOS GLOBAL 6.75% 05/15/25 18060TAA3 $10,270.68 0.070 %
CCM MERGER INC 6.375% 05/01/26 14985VAE1 $10,257.87 0.070 %
HOWARD MIDSTREA 6.75% 01/15/27 442722AA2 $10,115.63 0.070 %
OXFORD FIN LLC 6.375% 02/01/27 69145LAC8 $9,613.51 0.070 %
GYP HOLDINGS I 4.625% 05/01/29 36261NAA5 $9,486.68 0.070 %
OUTFRONT MEDIA 4.25% 01/15/29 69007TAE4 $9,133.78 0.070 %
ACADIA HEALTHCAR 5.5% 07/01/28 00404AAN9 $9,923.72 0.070 %
ATI INC 4.875% 10/01/29 01741RAL6 $9,419.17 0.070 %
ATS CORP 4.125% 12/15/28 001940AC9 $9,273.47 0.070 %
SPECTRUM BRANDS IN 5% 10/01/29 84762LAV7 $9,809.10 0.070 %
BATH & BODY WOR 6.95% 03/01/33 532716AK3 $10,008.16 0.070 %
ENOVA INTERNATIO 8.5% 09/15/25 29357KAF0 $10,013.71 0.070 %
KEN GARFF AUTO 4.875% 09/15/28 48850PAA2 $9,268.65 0.070 %
US WEST COMM 7.25% 9/15/25 912920AK1 $9,876.18 0.070 %
JELD-WEN INC 4.875% 12/15/27 475795AD2 $9,716.00 0.070 %
ASCENT RESOURC 5.875% 06/30/29 04364VAU7 $9,580.53 0.070 %
MIDCONTINENT C 5.375% 08/15/27 59565XAC4 $9,546.25 0.070 %
LEGENDS HOSPITALIT 5% 02/01/26 52473NAA6 $10,022.92 0.070 %
TMS INTERNATION 6.25% 04/15/29 87261QAC7 $9,444.14 0.070 %
BEACON ROOFING 4.125% 05/15/29 073685AH2 $9,230.13 0.070 %
CSI COMPRESSCO L 7.5% 04/01/25 12652HAA6 $10,000.00 0.070 %
VERMILION ENER 6.875% 05/01/30 923725AD7 $10,028.14 0.070 %
TITAN INTERNATIONA 7% 04/30/28 88830MAM4 $10,162.65 0.070 %
BLUELINX HOLDING 6% 11/15/29 09624HAA7 $9,963.60 0.070 %
ALTERYX INC 8.75% 03/15/28 02156BAG8 $10,343.92 0.070 %
MERLIN ENTERTAI 5.75% 06/15/26 59010QAB2 $10,081.58 0.070 %
ALTA EQUIPMENT 5.625% 04/15/26 02128LAA4 $10,036.35 0.070 %
ACURIS FIN US/ACUR 5% 05/01/28 00511BAA5 $9,316.78 0.070 %
CASTLELAKE AVIATIO 5% 04/15/27 14856HAA6 $9,886.04 0.070 %
EMPIRE RESORTS 7.75% 11/01/26 292052AF4 $9,606.38 0.070 %
ABC SUPPLY CO 3.875% 11/15/29 024747AG2 $9,137.58 0.070 %
PATRICK INDUSTR 4.75% 05/01/29 703343AD5 $9,558.32 0.070 %
MANITOWOC COMPANY 9% 04/01/26 563571AL2 $10,001.84 0.070 %
GRAFTECH FINAN 4.625% 12/15/28 384311AA4 $9,855.18 0.070 %
TRANSDIGM INC 7.5% 03/15/27 893647BH9 $10,038.43 0.070 %
POST HOLDINGS 4.625% 04/15/30 737446AQ7 $9,401.11 0.070 %
SUBURBAN PROPA 5.875% 03/01/27 864486AK1 $9,979.12 0.070 %
LFS TOPCO LLC 5.875% 10/15/26 50203TAA4 $9,595.07 0.070 %
MATTHEWS INTERN 5.25% 12/01/25 577128AA9 $10,002.10 0.070 %
STATION CASINO 4.625% 12/01/31 857691AH2 $9,171.85 0.070 %
LINDBLAD EXPEDI 6.75% 02/15/27 53523LAA8 $10,152.89 0.070 %
CABLEVISION LI 3.875% 09/15/27 12687GAA7 $9,002.86 0.070 %
TASEKO MINES LTD 7% 02/15/26 876511AF3 $10,123.93 0.070 %
GRAY TELEVISION 4.75% 10/15/30 389375AL0 $10,195.36 0.070 %
GRAFTECH GLOBA 9.875% 12/15/28 38431AAA4 $7,699.17 0.060 %
GOTO GROUP INC 5.5% 05/01/28 38349YAA3 $8,728.75 0.060 %
SERVICE PROPER 4.375% 02/15/30 44106MAY8 $7,686.96 0.060 %
C&S GROUP ENTERPRI 5% 12/15/28 12467AAF5 $8,147.06 0.060 %
BLOCK COMMUNIC 4.875% 03/01/28 093645AJ8 $8,982.93 0.060 %
HERENS HOLDCO S 4.75% 05/15/28 427169AA5 $8,928.40 0.060 %
SERVICE PROPERT 4.95% 10/01/29 44106MBB7 $8,202.40 0.060 %
CONSOLIDATED COMMU 5% 10/01/28 20903XAH6 $8,367.16 0.060 %
ZIGGO BOND CO 5.125% 02/28/30 98953GAD7 $8,675.35 0.060 %
COVANTA HOLDING CO 5% 09/01/30 22282EAJ1 $8,860.11 0.060 %
PAPA JOHN'S IN 3.875% 09/15/29 698813AA0 $8,899.89 0.060 %
SUNNOVA ENERGY 11.75% 10/01/28 86745GAG8 $7,772.76 0.060 %
SUNNOVA ENERGY 5.875% 09/01/26 86745GAF0 $7,847.75 0.060 %
PETROFAC LTD 9.75% 11/15/26 716473AE3 $6,407.11 0.050 %
QVC INC 5.95% 03/15/43 747262AM5 $6,400.94 0.050 %
QVC INC 5.45% 08/15/34 747262AW3 $6,752.07 0.050 %
SCRIPPS ESCROW 5.375% 01/15/31 81105DAB1 $6,244.34 0.050 %
ENCOMPASS HEALT 5.75% 09/15/25 421924BT7 $4,999.66 0.040 %
BAUSCH HEALTH C 5.75% 08/15/27 071734AC1 $5,846.33 0.040 %
MERCER INTL INC 5.5% 01/15/26 588056AW1 $4,925.07 0.040 %
AMERICAN AXLE 6.875% 07/01/28 02406PBA7 $5,062.64 0.040 %
ARCHROCK PARTN 6.875% 04/01/27 03959KAA8 $5,017.58 0.040 %
CINEMARK USA I 5.875% 03/15/26 172441BD8 $4,965.46 0.040 %
CONSENSUS CLOUD SO 6% 10/15/26 20848VAA3 $4,913.63 0.040 %
CALPINE CORP 4.625% 02/01/29 131347CP9 $4,664.74 0.030 %
KENNEDY-WILSON 4.75% 02/01/30 489399AN5 $4,000.56 0.030 %
As of 03/27/2024 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)
Mar 1, 2024 Mar 4, 2024 Mar 7, 2024 0.25323
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

Yield to Worst: The bond yield is computed by using the lower of either the yield to maturity or the yield to call on every possible call date. Yield to worst is shown for all securities with the exception of agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), and asset-backed securities (ABS). Agency MBS are priced based on zero volatility yield. CMBS and ABS are priced based on effective maturity.

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

After Tax Post-Liq.(%): After-Tax Post-Liquidation Returns measure the performance of the fund after accounting for both taxes on distributions and the taxes incurred from selling the fund shares. This metric provides a comprehensive view of the investment’s tax impact, including the realization of capital gains or losses upon the sale. The highest marginal Federal tax rate is assumed.

After Tax Pre-Liq.(%): After-Tax Pre-Liquidation Returns refer to the performance of the fund after considering the impact of taxes on distributions, but before any action to sell the fund shares is taken. This measure provides investors with insight into how taxes affect their returns without factoring in the potential taxes from selling the investment, thus focusing solely on the tax implications of the fund’s income and capital gains distributions. The highest marginal Federal tax rate is assumed.

After-tax yield: The after-tax yield is the return that investors can expect to receive after accounting for taxes owed on the interest income generated by the bond. This yield is particularly important when comparing the returns on municipal bonds, which are often exempt from federal income tax (and sometimes state and local taxes if the bond is issued within the investor’s state of residence), with those on taxable bonds, like corporate or government bonds.

Tax Equivalent Yield: The tax-equivalent yield (TEY) is the yield that a taxable bond would need to equal the yield on a comparable tax-exempt municipal bond, taking into account the impact of taxes. The calculation is a tool that investors can use to fairly compare the yield between a tax-free investment and a taxable alternative. TEY assumes the highest marginal Federal tax rate, is measured at the individual bond level, and aggregated to the portfolio level.

Tax Equivalent Yield = Tax Free Municipal Bond Yield / (1-Tax Rate)

Effective duration: Effective duration is a way to measure interest-rate sensitivity for bonds that have embedded options, such as callable or puttable features. Effective duration captures the potential variations in cash flows due to these options, and can be measured using modified duration for option-free bonds. The calculation is measured at the individual bond level and then aggregated to the portfolio level.

The 30-Day SEC Yield represents net investment income earned by the fund over the 30-Day period, expressed as an annual percent age rate based on the fund’s share price at the end of the 30-Day period.

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 is 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/