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XEMD

BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF

Net asset value

$39.95

EXPENSE RATIO

0.29%

Yield to Maturity

9.51%

30-Day Sec Yield

8.43%
ALL DATA AS OF 11/30/2023, UNLESS OTHERWISE STATED. 30-DAY SEC YIELD AS OF 10/31/2023. 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

The BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF seeks to track the investment results of an index composed of U.S. dollar-denominated emerging market bonds with an average life of below 10 years.

Regional Breakdown %

Fund Details

Product Name BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF
Ticker XEMD
CUSIP 09789C879
Asset Class Fixed Income
Fund Inception Date 6/30/2022
Exchange Cboe BZX U.S. Equities Exchange
Distribution Frequency Monthly
Fund Net Assets $201,755,981
Shares Outstanding 5,050,000
Median Spread 0.16%
Premium Discount Ratio 0.05%
Closing Price as of 11/30/2023 $39.97

Fees

Management Fee 0.29%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.29%

Portfolio Characteristics

Number of Securities 378
Number of Countries 52
Average Coupon 5.08%
Average Maturity 5.35 Years
* 30-Day SEC Yield is as of 10/31/2023
Yield to Maturity 9.51%
Yield to Worst 9.5%
Spread to Worst 508
Spread Duration 4.13
30-Day SEC Yield* 8.43%

Portfolio Breakdown

Sovereign 84.7%
Quasi-Sovereign 14.5%
Cash and Equivalents 0.3%
Due to rounding, these values may exceed 100%

Index Details

Provider Name J.P. Morgan
Index J.P. Morgan EMBI Global Diversified Liquid 1-10 Year Maturity Index
Index Ticker JPEI110L
Index Market Cap $541.600B

Maturity Breakdown %

Credit Rating Breakdown %

J.P. Morgan composite credit quality ratings are based on the middle rating of Moody’s, S&P and Fitch. When a rating from only two agencies is available, the lower is used; when a rating from only one agency is available, that rating is used. Investment grade includes AAA, AA, A, and BBB categories. Unrated securities do not necessarily indicate low quality. Ratings and portfolio credit quality may change over time.

Holdings

Name Weight
Turkey 6.78 %
Saudi Arabia 6.01 %
United Arab Emirates 4.29 %
Indonesia 4.28 %
Oman 4.23 %
Mexico 4.15 %
China 3.87 %
Bahrain 3.76 %
Brazil 3.73 %
South Africa 3.33 %
Name CUSIP Market Value % of Net Assets
KUWAIT INTL BOND 3.5% 03/20/27 M6417JAA6 $2,573,886.11 1.280 %
REPUBLIC OF ARGE S/UP 07/09/35 040114HT0 $1,798,282.64 0.890 %
REPUBLIC OF ARGE S/UP 07/09/30 040114HS2 $1,689,562.50 0.840 %
REPUBLIC OF ECUA S/UP 07/31/35 P8054QBC6 $1,640,373.40 0.810 %
FED REPUBLIC OF 4.25% 01/07/25 105756BV1 $1,554,022.25 0.770 %
REPUBLIC OF KA 5.125% 07/21/25 Y7276LDE5 $1,488,377.07 0.740 %
REPUBLIC OF PO 4.875% 10/04/33 731011AV4 $1,468,505.63 0.730 %
REPUBLIC OF PE 2.783% 01/23/31 715638DF6 $1,409,751.93 0.700 %
HUNGARY 6.125% 05/22/28 X93622GK2 $1,401,339.85 0.690 %
REPUBLICA ORIEN 5.75% 10/28/34 760942BE1 $1,341,645.31 0.660 %
DOMINICAN REPU 4.875% 09/23/32 P3579ECH8 $1,308,980.00 0.650 %
REPUBLICA ORIE 4.375% 01/23/31 917288BK7 $1,292,662.88 0.640 %
STATE OF QATAR 4% 03/14/29 M8489SAL1 $1,224,756.94 0.610 %
REPUBLC OF PERU 8.75%11/21/33 715638AP7 $1,222,430.56 0.610 %
OMAN GOV INTERNTL 6% 08/01/29 M75242BK8 $1,217,505.63 0.600 %
PETRONAS CAPITAL 3.5% 04/21/30 Y68856AT3 $1,186,775.06 0.590 %
SOUTHERN GAS C 6.875% 03/24/26 Y8T6JPAA4 $1,173,339.41 0.580 %
HUNGARY 2.125% 09/22/31 X93622FZ0 $1,163,921.88 0.580 %
BANK GOSPODARS 5.375% 05/22/33 X0645ACD2 $1,126,101.56 0.560 %
OMAN GOV INTER 5.625% 01/17/28 M75242BJ1 $1,099,711.56 0.550 %
REPUBLIC OF ANG 8.25% 05/09/28 V21735AC5 $1,113,650.00 0.550 %
SAUDI INTERNATI 3.25% 10/26/26 M6320UAD1 $1,100,446.18 0.550 %
REPUBLIC OF ARGE S/UP 01/09/38 040114HU7 $1,117,265.28 0.550 %
FED REPUBLIC O 4.625% 01/13/28 105756BZ2 $1,098,052.08 0.540 %
FED REPUBLIC O 3.875% 06/12/30 105756CC2 $1,095,175.17 0.540 %
OMAN GOV INTERN 4.75% 06/15/26 M75242AW3 $1,072,449.87 0.530 %
HUNGARY 5.25% 06/16/29 X93622GH9 $1,054,239.38 0.520 %
SAUDI INTERNAT 3.625% 03/04/28 M6320UAG4 $1,056,011.46 0.520 %
REPUBLIC OF ECUA S/UP 07/31/30 P8054QBA0 $1,018,850.00 0.500 %
ROMANIA 6.625% 02/17/28 X7360WCN0 $988,369.44 0.490 %
HUNGARY 6.25% 09/22/32 X93622GM8 $983,348.96 0.490 %
KINGDOM OF BAHRAIN 7% 10/12/28 M87012AC0 $985,176.39 0.490 %
ROMANIA 7.125% 01/17/33 X7360WCQ3 $981,774.17 0.490 %
REPUBLIC OF POLA 5.5% 11/16/27 857524AD4 $976,231.08 0.480 %
REPUBLIC OF POL 3.25% 04/06/26 731011AU6 $964,990.28 0.480 %
PETROLEOS MEXICA 6.7% 02/16/32 71643VAB1 $938,979.71 0.470 %
REPUBLIC OF NIGE 6.5% 11/28/27 V342A3BX1 $957,332.29 0.470 %
STATE OF QATAR 3.75% 04/16/30 M8489SAP2 $954,687.50 0.470 %
REPUBLIC OF POL 5.75% 11/16/32 857524AE2 $938,151.75 0.460 %
REPUBLIC OF SO 5.875% 09/16/25 836205AR5 $910,453.12 0.450 %
REPUBLIC OF KA 3.875% 10/14/24 Y7276LDC9 $898,653.63 0.450 %
STATE OF QATAR 3.25% 06/02/26 M8489SAD9 $914,968.75 0.450 %
REPUBLIC OF SOUT 4.3% 10/12/28 836205AU8 $909,602.78 0.450 %
COSTA RICA GOVE 6.55% 04/03/34 P3699PGM3 $917,260.00 0.450 %
OMAN GOV INTER 5.375% 03/08/27 M75242BB8 $905,528.12 0.450 %
KINGDOM OF JORDA 7.5% 01/13/29 M5269UAP9 $887,187.50 0.440 %
FED REPUBLIC OF BR 6% 10/20/33 105756CF5 $882,750.00 0.440 %
REPUBLIC OF ANGOLA 8% 11/26/29 V5S1ASAB6 $884,479.17 0.440 %
REP OF PHIL 9.50% 2/2/30 718286AY3 $882,981.94 0.440 %
REPUBLIC OF SOU 4.85% 09/30/29 836205BA1 $861,619.65 0.430 %
REPUBLIC OF SRI 7.55% 03/28/30 Y8137FAR9 $845,313.88 0.420 %
REPUBLIC OF ANG 8.75% 04/14/32 V5S1ASAE0 $849,236.11 0.420 %
DOMINICAN REPUBLIC 6% 02/22/33 P3579ECN5 $832,475.00 0.410 %
PETRONAS CAPITAL 3.5% 03/18/25 Y68856AN6 $836,410.39 0.410 %
DOMINICAN REPUBL 5.5% 02/22/29 P3579ECP0 $818,558.50 0.410 %
SAUDI INTERNAT 4.375% 04/16/29 M6320UAT6 $831,273.44 0.410 %
REPUBLICA ORIE 4.375% 10/27/27 760942BB7 $829,745.35 0.410 %
DOMINICAN REPUBL 4.5% 01/30/30 P3579ECF2 $808,762.50 0.400 %
REPUBLIC OF TU 9.875% 01/15/28 900123DF4 $808,234.03 0.400 %
STATE OF QATAR 4.5% 04/23/28 M8489SAH0 $799,675.00 0.400 %
REPUBLIC OF PHILIP 3% 02/01/28 718286CC9 $797,295.75 0.400 %
GOVERNMENT OF J 6.75% 04/28/28 470160CA8 $800,765.63 0.400 %
OMAN GOV INTERN 6.25% 01/25/31 M75242BQ5 $787,312.50 0.390 %
OMAN SOVEREIGN 4.875% 06/15/30 M7S2D9AF0 $790,555.33 0.390 %
ROMANIA 3% 02/27/27 X7360WCB6 $784,620.83 0.390 %
SAUDI INTERNATIONA 4% 04/17/25 M6320UAH2 $789,111.11 0.390 %
REPUBLIC OF SO 5.875% 06/22/30 836205AY0 $789,275.78 0.390 %
DOMINICAN REPUB 5.95% 01/25/27 P3579EBV8 $779,126.88 0.390 %
KSA SUKUK LTD 3.628% 04/20/27 G5321UAC1 $772,305.51 0.380 %
ABU DHABI GOVT 3.125% 10/11/27 M0153CAB0 $759,972.22 0.380 %
FED REPUBLIC OF BR 6% 04/07/26 105756BX7 $771,412.50 0.380 %
QATAR ENERGY 2.25% 07/12/31 M8180AAD0 $745,818.75 0.370 %
REPUBLIC OF NI 7.875% 02/16/32 V342A3BV5 $740,960.94 0.370 %
KINGDOM OF MORO 5.95% 03/08/28 V5311VAL4 $744,576.68 0.370 %
HUNGARIAN DEVELO 6.5% 06/29/28 X5S5VDBM0 $753,224.65 0.370 %
KINGDOM OF BAHRAIN 7% 01/26/26 M87012AA4 $751,684.03 0.370 %
SAUDI INTERNATI 4.75% 01/18/28 M6320UBZ1 $733,191.49 0.360 %
KINGDOM OF MOROC 6.5% 09/08/33 V5311VAK6 $720,684.03 0.360 %
MALAYSIA SOVER 3.043% 04/22/25 Y5749LAA9 $733,501.19 0.360 %
OMAN GOV INTER 7.375% 10/28/32 M75242BM4 $722,140.52 0.360 %
REPUBLIC OF NI 7.375% 09/28/33 V342A3CE2 $728,381.26 0.360 %
DOMINICAN REPU 6.875% 01/29/26 P3579EBK2 $720,918.53 0.360 %
COSTA RICA GOV 6.125% 02/19/31 P3699PGK7 $713,197.92 0.350 %
REPUBLIC OF KEN 7.25% 02/28/28 V50249AB3 $707,983.33 0.350 %
DOMINICAN REPUBL 5.5% 01/27/25 P3579EBD8 $706,065.11 0.350 %
EGYPT TASKEEK 10.875% 02/28/26 M3383SAD7 $696,915.63 0.350 %
REPUBLIC OF PHI 7.75% 01/14/31 718286BB2 $712,195.83 0.350 %
REPUBLIC OF CO 3.875% 04/25/27 195325DL6 $678,194.01 0.340 %
HAZINE MUSTESA 9.758% 11/13/25 M5258TAD2 $685,265.10 0.340 %
REPUBLIC OF SO 4.875% 04/14/26 836205AT1 $684,658.34 0.340 %
REPUBLIC OF TURKIY 6% 03/25/27 900123CL2 $681,450.00 0.340 %
IVORY COAST 6.125% 06/15/33 V73789AW5 $686,807.29 0.340 %
REPUBLIC OF NI 8.375% 03/24/29 V342A3CG7 $680,112.93 0.340 %
REPUBLIC OF COLO 4.5% 03/15/29 195325DP7 $681,000.00 0.340 %
REPUBLIC OF NI 7.143% 02/23/30 V342A3BZ6 $656,771.12 0.330 %
OMAN GOV INTERN 6.75% 10/28/27 M75242BN2 $656,101.57 0.330 %
HAZINE MUSTESAR 7.25% 02/24/27 M5258TAC4 $659,853.82 0.330 %
SAUDI INTERNAT 4.875% 07/18/33 M6320UCB3 $673,657.03 0.330 %
FED REPUBLIC OF 4.5% 05/30/29 105756CA6 $664,524.00 0.330 %
REPUBLIC OF CO 3.125% 04/15/31 195325DS1 $661,719.10 0.330 %
REPUBLIC OF SRI 6.85% 11/03/25 Y8137FAE8 $672,750.00 0.330 %
ROMANIA 3% 02/14/31 X7360WBP6 $660,633.33 0.330 %
OMAN SOVEREIGN 5.932% 10/31/25 M7S2D9AB9 $656,570.27 0.330 %
KINGDOM OF JORD 5.85% 07/07/30 M5269UAL8 $656,005.00 0.330 %
ARAB REPUBLIC OF 7.5% 01/31/27 M1487WBR5 $668,421.87 0.330 %
REPUBLIC OF TU 7.375% 02/05/25 900123AW0 $674,384.03 0.330 %
REPUBLIC OF TU 9.375% 01/19/33 900123DG2 $660,375.00 0.330 %
PETRONAS CAPITA 2.48% 01/28/32 Y6886MAE0 $663,094.67 0.330 %
REPUBLIC OF TU 9.125% 07/13/30 900123DJ6 $650,987.50 0.320 %
MAGYAR EXPORT- 6.125% 12/04/27 X5S8QYBF9 $647,156.25 0.320 %
REPUBLIC OF NI 7.625% 11/21/25 V342A3CA0 $638,051.74 0.320 %
REPUBLIC OF TU 4.875% 10/09/26 900123CK4 $617,137.08 0.310 %
KINGDOM OF BAHR 5.45% 09/16/32 M63633BZ9 $631,822.92 0.310 %
REPUBLIC OF COLOMB 8% 04/20/33 195325EF8 $629,766.67 0.310 %
REPUBLIC OF TU 7.625% 04/26/29 900123CT5 $625,336.38 0.310 %
KINGDOM OF BAHR 6.75% 09/20/29 M87012AE6 $610,237.50 0.300 %
PETROLEOS MEXICA 6.5% 03/13/27 71654QCG5 $595,941.67 0.300 %
REPUBLIC OF P 10.625% 03/16/25 718286AP2 $598,669.73 0.300 %
ABU DHABI GOVT 2.125% 09/30/24 M0152WAF8 $610,062.93 0.300 %
REPUBLIC OF PA 2.252% 09/29/32 698299BN3 $600,285.68 0.300 %
KINGDOM OF JOR 6.125% 01/29/26 M5269UAG9 $602,816.67 0.300 %
DOMINICAN REPUBLIC 6% 07/19/28 P3579ECB1 $599,184.00 0.300 %
KINGDOM OF JORD 5.75% 01/31/27 M5269UAH7 $590,595.83 0.290 %
FED REPUBLIC O 2.875% 06/06/25 105756CD0 $584,490.42 0.290 %
REPUBLIC OF KENYA 8% 05/22/32 V50249AD9 $594,650.00 0.290 %
ARAB REPUBLIC 7.625% 05/29/32 M1487WDG7 $586,610.59 0.290 %
ISLAMIC REP OF 6.875% 12/05/27 Y2835JAE8 $577,285.63 0.290 %
KSA SUKUK LTD 4.274% 05/22/29 G5321UAL1 $583,391.10 0.290 %
STATE GRID OVERS 3.5% 05/04/27 G8450LAJ3 $576,105.00 0.290 %
TRINIDAD & TOBAG 4.5% 08/04/26 P93960AG0 $593,175.00 0.290 %
ARAB REPUBLIC 5.875% 06/11/25 M1487WBP9 $581,401.91 0.290 %
CASH CASH $587,547.08 0.290 %
ROMANIA 5.25% 11/25/27 X7360WCH3 $587,175.00 0.290 %
ABU DHABI GOVT I 2.5% 04/16/25 M0152WAH4 $579,375.00 0.290 %
KSA SUKUK LTD 4.511% 05/22/33 G5321UAK3 $575,926.65 0.290 %
SOCIALIST REP OF 4.8% 11/19/24 Y9384RAA8 $594,135.00 0.290 %
ABU DHABI GOVT 3.125% 04/16/30 M0152WAK7 $575,097.66 0.290 %
REPUBLIC OF NI 8.747% 01/21/31 V342A3CC6 $561,951.83 0.280 %
ARAB REPUBLIC OF 7.6% 03/01/29 M1487WCY9 $562,069.33 0.280 %
REPUBLIC OF PAR 4.95% 04/28/31 P75744AJ4 $570,733.50 0.280 %
STATE OF QATAR 9.75% 06/15/30 M81805AD1 $563,107.29 0.280 %
EXPORT-IMPORT BK 5.5% 01/18/33 30216KAG7 $555,186.19 0.280 %
ESKOM HOLDINGS 7.125% 02/11/25 S25221AL6 $561,028.65 0.280 %
REPUBLIC OF SO 5.875% 04/20/32 836205BC7 $566,369.36 0.280 %
REPUBLIC OF TU 6.125% 10/24/28 900123CQ1 $570,777.08 0.280 %
REPUBLIC OF COL 3.25% 04/22/32 195325DZ5 $568,328.12 0.280 %
REPUBLIC OF SE 2.125% 12/01/30 X77765CB3 $539,875.00 0.270 %
EXPORT-IMPORT 3.875% 02/01/28 30216KAC6 $548,640.08 0.270 %
REPUBLIC OF SERB 6.5% 09/26/33 X77765CU1 $551,642.36 0.270 %
REPUBLIC OF TUR 6.35% 08/10/24 900123CV0 $536,919.69 0.270 %
ISLAMIC REP OF PAK 6% 04/08/26 Y2835JAH1 $544,932.21 0.270 %
QATAR ENERGY 1.375% 09/12/26 M8180AAC2 $543,310.42 0.270 %
REPUBLIC OF AZER 3.5% 09/01/32 Y7177RAD7 $549,055.00 0.270 %
ABU DHABI GOVT I 2.5% 09/30/29 M0152WAE1 $538,041.67 0.270 %
EXPORT-IMPORT 3.375% 08/05/26 30216KAA0 $552,977.51 0.270 %
REPUBLIC OF COLO 4.5% 01/28/26 195325CX1 $542,495.25 0.270 %
TRANSNET SOC LT 8.25% 02/06/28 S8755VFQ9 $550,916.67 0.270 %
ROMANIA 3.625% 03/27/32 X7360WCA8 $545,720.14 0.270 %
REPUBLIC OF COLOMB 3% 01/30/30 195325DR3 $529,154.17 0.260 %
REPUBLIC OF PAN 3.16% 01/23/30 698299BK9 $520,625.35 0.260 %
SAUDI INTERNATIO 5.5% 10/25/32 M6320UBY4 $516,812.50 0.260 %
REPUBLIC OF PHI 3.75% 01/14/29 718286CG0 $528,217.71 0.260 %
MALAYSIA SUKUK 3.179% 04/27/26 Y54788AA5 $531,733.06 0.260 %
SAUDI INTERNATI 2.25% 02/02/33 M6320UBD0 $520,365.63 0.260 %
REPUBLIC OF SEN 6.25% 05/23/33 V7691DAX4 $521,961.81 0.260 %
REPUBLIC OF NI 6.125% 09/28/28 V342A3CF9 $517,931.25 0.260 %
BANK GOSPODARST 6.25% 10/31/28 X0645ACG5 $522,456.60 0.260 %
REPUBLIC OF CHI 2.55% 07/27/33 168863DT2 $524,896.67 0.260 %
REPUBLIC OF CHI 3.24% 02/06/28 168863CF3 $519,942.50 0.260 %
PETROLEOS MEXI 6.875% 08/04/26 71654QCB6 $531,159.06 0.260 %
EXPORT-IMPORT B 3.25% 01/15/30 30216KAE2 $534,403.67 0.260 %
STATE OF QATAR 3.4% 04/16/25 M8489SAM9 $513,843.75 0.250 %
REPUBLIC OF TURK 5.6% 11/14/24 900123CW8 $498,197.22 0.250 %
REPUBLIC OF TU 6.375% 10/14/25 900123CZ1 $499,473.96 0.250 %
ISLAMIC REP OF 7.375% 04/08/31 Y2835JAK4 $503,730.68 0.250 %
CHINA GOVT INTL 0.55% 10/21/25 Y15025AB8 $507,397.61 0.250 %
OIL & GAS HOLDIN 7.5% 10/25/27 67778NAA6 $497,933.59 0.250 %
CBB INTL SUKUK 6.25% 10/18/30 M2120GAK7 $499,357.64 0.250 %
FED REPUBLIC OF 3.75% 09/12/31 105756CE8 $506,379.02 0.250 %
KINGDOM OF MOROCCO 3% 12/15/32 V5311VAJ9 $481,550.00 0.240 %
REPUBLIC OF IN 4.125% 01/15/25 Y20721BG3 $477,590.33 0.240 %
REPUBLIC OF PAN 3.75% 03/16/25 698299BE3 $487,013.75 0.240 %
UNITED MEXICAN S 4.5% 04/22/29 91087BAF7 $483,187.50 0.240 %
EXPORT-IMPORT B 2.25% 01/13/31 30216KAF9 $487,014.00 0.240 %
KINGDOM OF BAH 7.375% 05/14/30 M63633BX4 $488,529.25 0.240 %
CBB INTERNATIO 6.875% 10/05/25 M2120JAA3 $485,794.70 0.240 %
PETROLEOS MEXIC 5.95% 01/28/31 71654QDE9 $480,143.23 0.240 %
CBB INTL SUKUK 3.95% 09/16/27 M2120LAB6 $491,231.56 0.240 %
ABU DHABI GOVT 3.125% 05/03/26 M0153CAE4 $481,449.66 0.240 %
SAUDI INTERNATIO 4.5% 04/17/30 M6320UAK5 $488,375.00 0.240 %
REPUBLIC OF TU 9.375% 03/14/29 900123DH0 $487,159.69 0.240 %
REPUBLIC OF IRAQ 5.8% 01/15/28 M82152AA3 $465,442.57 0.230 %
UNITED MEXICAN 2.659% 05/24/31 91087BAM2 $471,509.79 0.230 %
TUNISIAN REPUBL 5.75% 01/30/25 V06423AM5 $470,393.92 0.230 %
REPUBLIC OF SRI 6.2% 05/11/27 Y8137FAH1 $456,754.50 0.230 %
CBB INTL SUKUK P 4.5% 03/30/27 M2120LAA8 $455,465.63 0.230 %
SINOPEC GRP OVE 3.25% 04/28/25 G8201JAC5 $462,214.98 0.230 %
REPUBLIC OF TUR 5.95% 01/15/31 900123DA5 $456,238.89 0.230 %
REPUBLIC OF PHILIP 5% 07/17/33 718286CW5 $454,471.25 0.230 %
HAZINE MUSTESA 5.125% 06/22/26 M5258TAB6 $463,557.45 0.230 %
CBB INTL SUKUK 6.25% 11/14/24 M2120GAH4 $473,903.41 0.230 %
ARAB REPUBLIC OF 5.8% 09/30/27 M1487WDM4 $473,575.56 0.230 %
ESKOM HOLDINGS 6.35% 08/10/28 S25221AV4 $433,849.69 0.220 %
ABU DHABI GOVT 1.875% 09/15/31 M0152WAR2 $453,177.08 0.220 %
REPUBLIC OF TUR 4.75% 01/26/26 900123DB3 $437,171.88 0.220 %
UAE INT'L GOVT 4.05% 07/07/32 M9402MAH5 $437,040.00 0.220 %
CHINA GOVT INTL 1.2% 10/21/30 Y15025AC6 $449,757.46 0.220 %
REPUBLIC OF TURK 8.6% 09/24/27 M88269US8 $448,802.36 0.220 %
KSA SUKUK LTD 4.303% 01/19/29 G5321UAE7 $448,099.95 0.220 %
KINGDOM OF BAH 5.625% 09/30/31 M63633BW6 $440,933.59 0.220 %
REPUBLIC OF SOU 4.85% 09/27/27 836205AW4 $434,192.50 0.220 %
REPUBLIC OF TUR 4.25% 03/13/25 900123CX6 $416,694.79 0.210 %
CBB INTL SUKUK 3.875% 05/18/29 M2120GAG6 $422,227.17 0.210 %
REPUBLIC OF ZAM 8.97% 07/30/27 V7179UAF6 $427,000.00 0.210 %
REPUBLIC OF PH 6.375% 01/15/32 718286BD8 $416,843.75 0.210 %
ARAB REPUBLIC 6.588% 02/21/28 M1487WCN3 $419,491.25 0.210 %
REPUBLIC OF CHI 2.45% 01/31/31 168863DP0 $427,242.36 0.210 %
HAZINE MUSTESA 8.509% 01/14/29 M53008AC8 $433,613.98 0.210 %
POWER SECTOR AS 7.39% 12/02/24 Y7083VAD1 $432,284.50 0.210 %
PAKISTAN GLOBAL 7.95% 01/31/29 Y2835JAL2 $425,051.98 0.210 %
ARAB REPUBLIC OF 7.3% 09/30/33 M1487WDP7 $406,977.64 0.200 %
REPUBLIC OF T 11.875% 01/15/30 900123AL4 $406,814.24 0.200 %
REPUBLIC OF CHI 2.75% 01/31/27 168863DX3 $399,815.80 0.200 %
PETROLEOS MEXICAN 10% 02/07/33 71654QDP4 $409,643.33 0.200 %
GACI FIRST INVE 4.75% 02/14/30 G3705QAD9 $396,647.22 0.200 %
REPUBLIC OF IND 4.75% 01/08/26 Y20721BN8 $405,027.22 0.200 %
EDO SUKUK LTD 5.875% 09/21/33 G4000DAA4 $406,819.44 0.200 %
REPUBLIC OF TU 5.125% 02/17/28 900123CP3 $397,292.36 0.200 %
FED REPUBLIC OF 6.25% 03/18/31 105756CG3 $381,509.90 0.190 %
ARAB REPUBLIC 5.875% 02/16/31 M1487WDK8 $385,709.64 0.190 %
REPUBLIC OF PE 1.862% 12/01/32 715638DP4 $376,750.00 0.190 %
BANCO NACIONAL D 2.5% 08/11/30 P1559LAA7 $391,048.30 0.190 %
UNITED MEXICAN 4.75% 04/27/32 91087BAK6 $374,794.44 0.190 %
REPUBLIC OF KENY 6.3% 01/23/34 V50249AE7 $385,262.50 0.190 %
REPUBLIC OF PHIL 5.5% 03/30/26 718286BN6 $382,649.79 0.190 %
REPUBLIC OF GH 10.75% 10/14/30 V71795AJ3 $377,250.00 0.190 %
REPUBLIC OF TUR 5.25% 03/13/30 900123CY4 $374,318.76 0.190 %
DP WORLD CRESC 3.875% 07/18/29 G28288AC5 $374,476.39 0.190 %
UNITED MEXICAN 4.15% 03/28/27 91087BAC4 $393,105.00 0.190 %
REPUBLIC OF SRI 5.75% 04/18/23 Y8137FAK4 $376,594.00 0.190 %
REPUBLIC OF ZAMB 8.5% 04/14/24 V7179UAE9 $366,750.00 0.180 %
FEDERAL REP OF 6.625% 12/11/24 V6745WAA0 $358,206.60 0.180 %
UNITED MEXICAN S 8.3% 08/15/31 91086QAG3 $365,531.67 0.180 %
REPUBLIC OF PH 1.648% 06/10/31 718286CK1 $360,147.60 0.180 %
REPUBLIC OF SRI 6.75% 04/18/28 Y8137FAL2 $367,604.00 0.180 %
REPUBLIC OF CHI 2.55% 01/27/32 168863DN5 $357,439.17 0.180 %
REPUBLIC OF PA 3.875% 03/17/28 698299BF0 $364,886.11 0.180 %
KINGDOM OF BAHR 5.25% 01/25/33 M63633CC9 $354,350.00 0.180 %
CHINA GOVT INTL 1.95% 12/03/24 Y5325SAM0 $338,931.25 0.170 %
KSA SUKUK LTD 2.969% 10/29/29 G5321UAF4 $338,020.92 0.170 %
CHINA GOVT INT 2.125% 12/03/29 Y5325SAL2 $333,056.25 0.170 %
EXPORT-IMPORT 3.875% 05/16/26 Y23862VV7 $343,197.60 0.170 %
CHINA LIFE INSU O V/R 08/15/33 Y1R02PAB0 $352,494.72 0.170 %
REPUBLIC OF TU 5.875% 06/26/31 900123DC1 $339,954.43 0.170 %
SAUDI INTERNATIO 2.9% 10/22/25 M6320UAZ2 $336,662.08 0.170 %
PERUSAHAAN PENE 4.15% 03/29/27 71567RAH9 $344,626.53 0.170 %
REPUBLIC OF PA 3.298% 01/19/33 698299BR4 $347,396.70 0.170 %
ABU DHABI GOVT 1.625% 06/02/28 M0152WAP6 $351,000.00 0.170 %
PERUSAHAAN PEN 4.325% 05/28/25 71567RAD8 $346,706.65 0.170 %
PETROLEOS MEXIC 6.84% 01/23/30 71654QDC3 $333,128.00 0.170 %
UNITED MEXICAN 4.125% 01/21/26 91086QBG2 $325,616.15 0.160 %
PERUSAHAAN PENER 4.4% 03/01/28 71567RAK2 $321,262.50 0.160 %
REPUBLIC OF PH 2.457% 05/05/30 718286CJ4 $323,165.44 0.160 %
UNITED MEXICAN 4.875% 05/19/33 91087BAT7 $325,718.75 0.160 %
PERUSAHAAN PENER 4.4% 06/06/27 71567RAU0 $325,719.52 0.160 %
SAUDI INTERNATI 3.25% 10/22/30 M6320UBB4 $314,482.29 0.160 %
REPUBLIC OF GH 6.375% 02/11/27 V71795AU8 $321,718.75 0.160 %
REPUBLIC OF GH 8.125% 03/26/32 V71795AQ7 $323,437.50 0.160 %
KSA SUKUK LTD 5.268% 10/25/28 G5321UAJ6 $332,805.85 0.160 %
REPUBLIC OF IND 2.15% 07/28/31 455780CY0 $328,688.33 0.160 %
UNITED MEXICAN 3.75% 01/11/28 91087BAE0 $312,677.08 0.150 %
PETROLEOS MEXIC 5.35% 02/12/28 71654QCK6 $296,659.51 0.150 %
CODELCO INC 3.625% 08/01/27 P3143NAY0 $307,101.71 0.150 %
UNITED MEXICAN 3.25% 04/16/30 91087BAH3 $309,421.88 0.150 %
KSA SUKUK LTD 2.25% 05/17/31 G5321UAG2 $310,640.63 0.150 %
CNAC HK FINBRI 5.125% 03/14/28 Y1670YAL9 $297,101.04 0.150 %
REPUBLIC OF GH 8.625% 04/07/34 V71795BA1 $304,500.00 0.150 %
REPUBLIC OF IND 4.85% 01/11/33 455780DR4 $300,028.83 0.150 %
REPUBLIC OF TUR 4.25% 04/14/26 900123CJ7 $307,205.80 0.150 %
PERUSAHAAN PENE 4.55% 03/29/26 71567RAF3 $299,350.83 0.150 %
GACI FIRST INVE 5.25% 10/13/32 G3705QAC1 $303,225.00 0.150 %
REPUBLIC OF SRI 6.85% 03/14/24 Y8137FAN8 $309,000.00 0.150 %
PERUSAHAAN PENER 4.7% 06/06/32 71567RAV8 $297,666.67 0.150 %
CODELCO INC 3% 09/30/29 P3143NBE3 $283,297.08 0.140 %
EXPORT-IMPORT 3.625% 07/31/24 Y23862AF5 $275,122.11 0.140 %
PETROLEOS DEL P 4.75% 06/19/32 P7808BAA5 $289,514.00 0.140 %
PERUSAHAAN PENE 4.35% 09/10/24 71567RAC0 $276,433.44 0.140 %
CHINA GOVT INTL 1.25% 10/26/26 Y5325QAE2 $273,049.58 0.140 %
BOLIVIA GOVERNME 4.5% 03/20/28 P37878AC2 $290,325.00 0.140 %
PETROLEOS MEXIC 8.75% 06/02/29 71654QDL3 $274,875.00 0.140 %
UKRAINE GOVERNM 9.75% 11/01/30 X5S005M65 $276,450.00 0.140 %
REPUBLIC OF TURK 6.5% 09/20/33 900123DD9 $272,533.33 0.140 %
REPUBLIC OF GH 8.125% 01/18/26 V3R60FAZ7 $263,781.25 0.130 %
ARAB REPUBLIC 7.052% 01/15/32 M1487WDD4 $262,657.72 0.130 %
SAUDI INTERNATIO 2.5% 02/03/27 M6320UAY5 $257,315.97 0.130 %
CODELCO INC 3.15% 01/14/30 P3143NBH6 $263,901.75 0.130 %
PERUSAHAAN LIS 4.125% 05/15/27 71568QAC1 $265,191.67 0.130 %
REPUBLIC OF IND 3.85% 10/15/30 455780CS3 $256,930.98 0.130 %
REPUBLIC OF IND 4.65% 09/20/32 455780DN3 $242,687.71 0.120 %
REPUBLIC OF GH 7.625% 05/16/29 V71795AM6 $239,250.00 0.120 %
SHARJAH SUKUK 4.226% 03/14/28 G8110JAA9 $238,509.74 0.120 %
ABU DHABI GOVT I 1.7% 03/02/31 M0152WAM3 $247,635.83 0.120 %
CHINA GOVT INT 2.625% 11/02/27 Y5325SAA6 $235,617.40 0.120 %
REPUBLIC OF GHA 7.75% 04/07/29 V71795AY0 $250,843.75 0.120 %
UKRAINE GOVERN 6.876% 05/21/31 X5S005X71 $238,500.00 0.120 %
REPUBLIC OF IND 4.35% 01/08/27 Y20721BQ1 $249,737.29 0.120 %
SINOPEC GRP DEV 2.7% 05/13/30 G82016AP4 $243,303.50 0.120 %
SINOPEC GRP OV 3.625% 04/12/27 G8201NAC6 $241,184.76 0.120 %
GACI FIRST INVESTM 5% 10/13/27 G3705QAA5 $250,416.67 0.120 %
SINOPEC GRP DEV 1.45% 01/08/26 G82016AR0 $233,324.93 0.120 %
UKRAINE GOVERNM 7.75% 09/01/25 X5S005UH2 $231,337.50 0.110 %
REPUBLIC OF IND 4.75% 02/11/29 455780CH7 $225,312.51 0.110 %
PERUSAHAAN PENER 1.5% 06/09/26 71567RAR7 $230,501.67 0.110 %
UKRAINE GOVERNM 7.75% 09/01/26 X5S005UJ8 $212,625.00 0.110 %
REPUBLIC OF INDO 3.5% 01/11/28 455780CD6 $215,290.38 0.110 %
SPIC MTN CO LT 1.625% 07/27/25 G8352NAA7 $212,689.62 0.110 %
PERUSAHAAN PENE 2.55% 06/09/31 71567RAS5 $213,065.83 0.110 %
REPUBLIC OF IND 4.55% 01/11/28 455780DQ6 $220,455.28 0.110 %
THREE GORGES FI 3.15% 06/02/26 G8850LAC4 $215,028.00 0.110 %
SINOPEC GRP DEV 2.95% 11/12/29 G82016AL3 $227,276.74 0.110 %
UKRAINE GOVERNM 7.75% 09/01/27 X5S005UK5 $223,700.00 0.110 %
HAZINE MUSTESA 4.489% 11/25/24 M53008AB0 $220,668.34 0.110 %
PETROLEOS MEXIC 6.49% 01/23/27 71654QDB5 $231,718.89 0.110 %
REPUBLIC OF IND 2.85% 02/14/30 455780CQ7 $222,898.96 0.110 %
CHINA GOVT INTL 1.75% 10/26/31 Y5325QAF9 $208,457.85 0.100 %
DP WORLD CRESCEN 5.5% 09/13/33 G28288AE1 $200,243.33 0.100 %
CHINA GOVT INTL 3.5% 10/19/28 Y5325SAE8 $194,111.67 0.100 %
EXPORT-IMPORT 2.875% 04/26/26 Y23862KD9 $191,968.03 0.100 %
INDO ASAHAN/MIN 4.75% 05/15/25 Y7140WAE8 $197,047.22 0.100 %
INDO ASAHAN/MIN 5.45% 05/15/30 Y7140WAF5 $195,506.44 0.100 %
REPUBLIC OF IND 1.85% 03/12/31 455780CV6 $202,108.68 0.100 %
REPUBLIC OF IND 3.85% 07/18/27 Y20721BT5 $195,392.72 0.100 %
MDGH GMTN RSC LT 5.5% 04/28/33 M6846HBV4 $204,259.33 0.100 %
UKRAINE GOVERNM 7.75% 09/01/29 X5S005UM1 $211,612.50 0.100 %
FIN DEPT GOVT SH 6.5% 11/23/32 M5216SAH6 $202,788.89 0.100 %
SHARJAH SUKUK 2.942% 06/10/27 G8110JAL5 $208,456.76 0.100 %
PERUSAHAAN PENER 5.4% 11/15/28 71567RAX4 $203,141.00 0.100 %
SAUDI INTERNATI 2.75% 02/03/32 M6320UAW9 $192,715.63 0.100 %
DP WORLD CRESC 4.848% 09/26/28 G28288AB7 $196,250.67 0.100 %
PELABUHAN INDO 4.25% 05/05/25 Y7133MAC3 $196,773.89 0.100 %
PERUSAHAAN LIST 5.45% 05/21/28 71568QAE7 $200,177.78 0.100 %
UAE INT'L GOVT 4.917% 09/25/33 M9402MAJ1 $205,052.90 0.100 %
MDGH GMTN RSC LT 2.5% 11/07/24 M6846HAH6 $194,305.33 0.100 %
CHINA GOVT INTL 0.75% 10/26/24 Y5325QAD4 $192,286.83 0.100 %
CHINA DEVELOPMENT 1% 10/27/25 Y1456TKA3 $208,358.88 0.100 %
SHARJAH SUKUK 3.854% 04/03/26 G8110JAD3 $193,491.84 0.100 %
OMAN SOVEREIGN 4.397% 06/01/24 M7S2D9AA1 $198,250.00 0.100 %
CNAC HK FINBRI 4.125% 07/19/27 Y1670YAB1 $193,188.00 0.100 %
RAK CAPITAL 3.094% 03/31/25 P30473AD7 $193,989.52 0.100 %
UNITED MEXICAN S 5.4% 02/09/28 91087BAU4 $204,860.00 0.100 %
PERUSAHAAN PENE 4.45% 02/20/29 71567RAM8 $198,237.94 0.100 %
PERUSAHAAN PENER 5.6% 11/15/33 71567RAY2 $206,272.78 0.100 %
MDGH GMTN RSC 2.875% 11/07/29 M6846HAN3 $200,118.75 0.100 %
UKRAINE GOVERNM 7.75% 09/01/28 X5S005UL3 $211,837.50 0.100 %
BANCO NACIONAL 4.375% 10/14/25 P14517AA7 $195,692.36 0.100 %
REPUBLIC OF INDO 4.1% 04/24/28 455780CF1 $193,717.78 0.100 %
SINOPEC GRP DEV 2.3% 01/08/31 G82016AS8 $193,107.62 0.100 %
PERUSAHAAN PENER 2.8% 06/23/30 71567RAP1 $177,575.78 0.090 %
STATE GRID OVE 1.625% 08/05/30 G8450LAZ7 $185,164.00 0.090 %
UAE INT'L GOVT BON 2% 10/19/31 M9402MAF9 $185,587.50 0.090 %
REPUBLIC OF IND 3.55% 03/31/32 455780DJ2 $180,044.06 0.090 %
MDGH GMTN RSC 3.375% 03/28/32 M6846HAV5 $177,181.25 0.090 %
PETROLEOS MEXICA 6.5% 01/23/29 71654QCP5 $172,472.22 0.090 %
PT PERTAMINA (PE 1.4% 02/09/26 69370RAK3 $183,769.11 0.090 %
MDGH GMTN RSC 4.375% 11/22/33 M6846HCL5 $186,718.75 0.090 %
COMISION FEDER 4.688% 05/15/29 P30179BQ0 $182,502.71 0.090 %
MDGH GMTN RSC 2.875% 05/21/30 M6846HAJ2 $175,659.72 0.090 %
SINOPEC GRP DEV 2.15% 05/13/25 G82016AN9 $191,103.00 0.090 %
SHARJAH SUKUK 3.234% 10/23/29 G8110JAF8 $176,682.73 0.090 %
REPUBLIC OF ECUAD ZCP 07/31/30 P8054QBG7 $165,300.00 0.080 %
PETROLEOS MEXICA 4.5% 01/23/26 71654QBW1 $162,688.75 0.080 %
CNAC HK FINBRIDGE 3% 09/22/30 Y1670YAW5 $170,620.00 0.080 %
REPUBLIC OF SR 6.825% 07/18/26 Y8137FAF5 $103,500.00 0.050 %
LEBANESE REPUBLI 6.1% 10/04/22 M87883DE7 $99,858.00 0.050 %
LEBANESE REPUBL 6.65% 02/26/30 M6S21BAN3 $72,678.00 0.040 %
LEBANESE REPUBL 6.85% 03/23/27 M6S21BAP8 $76,661.00 0.040 %
MDGH GMTN RSC LT 2.5% 05/21/26 M6846HAM5 $70,282.55 0.030 %
LEBANESE REPUBL 8.25% 04/12/21 M87883CE8 $41,121.50 0.020 %
LEBANESE REPUBLIC 6% 01/27/23 M6S21BAG8 $35,892.00 0.020 %
As of 11/30/2023 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)
Dec 1, 2023 Dec 4, 2023 Dec 7, 2023 0.21308
Nov 1, 2023 Nov 2, 2023 Nov 7, 2023 0.21809
Oct 2, 2023 Oct 3, 2023 Oct 6, 2023 0.20932
Sep 1, 2023 Sep 5, 2023 Sep 8, 2023 0.21906
Aug 1, 2023 Aug 2, 2023 Aug 7, 2023 0.21997
Jul 3, 2023 Jul 5, 2023 Jul 10, 2023 0.18689
Jun 1, 2023 Jun 2, 2023 Jun 7, 2023 0.23682
May 1, 2023 May 2, 2023 May 5, 2023 0.20286
Apr 3, 2023 Apr 4, 2023 Apr 7, 2023 0.20405
Mar 1, 2023 Mar 2, 2023 Mar 7, 2023 0.21214
Feb 1, 2023 Feb 2, 2023 Feb 7, 2023 0.18942
Dec 29, 2022 Dec 30, 2022 Jan 5, 2023 0.21808
Dec 1, 2022 Dec 2, 2022 Dec 7, 2022 0.20599
Nov 1, 2022 Nov 2, 2022 Nov 7, 2022 0.19149
Oct 3, 2022 Oct 4, 2022 Oct 7, 2022 0.20374
Sep 1, 2022 Sep 2, 2022 Sep 8, 2022 0.18873
Aug 1, 2022 Aug 2, 2022 Aug 5, 2022 0.20578

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 small 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.

Option Adjusted Spread: The weighted average incremental yield earned over similar duration US Treasuries, measured in basis points. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity 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 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/