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XHYD

BondBloxx USD High Yield Bond Consumer Non-Cyclicals Sector ETF

Net asset value

$35.84

EXPENSE RATIO

0.35%

Yield to Maturity

8.19%

30-Day Sec Yield

7.39%
ALL DATA AS OF 09/29/2023, UNLESS OTHERWISE STATED. 30-DAY SEC YIELD AS OF 08/31/2023. 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 USD High Yield Bond Consumer Non-Cyclicals Sector ETF seeks to track the investment results of an index composed of U.S. dollar-denominated, high yield corporate bonds in the consumer non-cyclicals sector. The Fund is newly organized, non-diversified and seeks to track the investment results of the ICE Diversified US Cash Pay High Yield Consumer Non-Cyclical Index, which is a rules-based index consisting of U.S. dollar-denominated below investment grade bonds that contains issuers from the consumer non-cyclicals sector (companies whose performance is generally less closely connected to the business cycle and current economic conditions), including the consumer goods, discount stores, food & drug retail, restaurants, and utilities sub-sectors. The performance of securities in this sector, in the aggregate, may exhibit lower sensitivity in response to macroeconomic or systematic changes in the overall economy.

*Unless otherwise stated, the information on this page is as of 09/29/2023

Sub-Sector

Fund Details

Product Name BondBloxx USD High Yield Bond Consumer Non-Cyclicals Sector ETF
Ticker XHYD
CUSIP 09789C200
Asset Class Fixed Income
Fund Inception Date 2/15/2022
Exchange NYSE Arca
Distribution Frequency Monthly
Fund Net Assets ($MM) $10.70
Shares Outstanding 300,000
Median Spread 0.30%
Premium Discount Ratio -0.08%
Closing Price as of 09/29/2023 $35.81

Fees

Management Fee 0.35%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.35%

Portfolio Characteristics

Number of Securities 177
Number of Issuers 84
Average Coupon 5.42%
Average Maturity 5.52 Years
* 30-Day SEC Yield is as of 08/31/2023
Yield to Maturity 8.19%
Yield to Worst 8.14%
Option Adjusted Spread 328
Spread Duration 4.01
30-Day SEC Yield* 7.39%

Portfolio Breakdown

Corporate 99.9%
Cash and Equivalents 0.1%
Due to rounding, these values may exceed 100%

Index Details

Provider Name ICE Data Services
Index ICE Diversified US Cash Pay High Yield Consumer Non-Cyclical Index
Index Ticker JDCD
Index Market Cap $109.301B

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
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC / (Albertsons Safeway LLC) 5.72 %
1011778 B.C. Unlimited Liability Company / New Red Finance Inc. 5.32 %
Vistra Operations Co LLC 5.19 %
Calpine Corporation 4.44 %
Post Holdings Inc. 4.23 %
FirstEnergy Corp. 4.06 %
Newell Brands Inc. 3.87 %
YUM Brands Inc 3.77 %
NRG Energy Inc. 3.59 %
Pilgrims Pride Corporation 3.13 %
Name CUSIP Market Value % of Net Assets
1011778 BC / NEW R 4% 10/15/30 68245XAM1 $244,937.39 2.290 %
NEWELL BRANDS IN 4.7% 04/01/26 651229AW6 $186,781.85 1.750 %
ELECTRICITE DE FRAN V/R /PERP/ 28504KAA5 $160,627.59 1.500 %
FIRSTENERGY CORP 4.15% 07/15/27 337932AH0 $142,723.67 1.330 %
1011778 BC / N 3.875% 01/15/28 68245XAH2 $141,219.11 1.320 %
ALBERTSONS COS 4.625% 01/15/27 013092AC5 $126,987.54 1.190 %
TALEN ENERGY S 8.625% 06/01/30 87422VAK4 $127,086.49 1.190 %
VISTRA OPERATI 5.625% 02/15/27 92840VAB8 $126,229.43 1.180 %
POST HOLDINGS 4.625% 04/15/30 737446AQ7 $125,660.91 1.170 %
CALPINE CORP 5.125% 03/15/28 131347CN4 $125,120.61 1.170 %
EMERA INC V/R 06/15/76 290876AD3 $118,008.31 1.100 %
VISTRA CORP 5% 07/31/27 92840VAF9 $117,954.02 1.100 %
ALBERTSONS COS/S 3.5% 03/15/29 013092AG6 $113,705.52 1.060 %
CALPINE CORP 4.5% 02/15/28 131347CM6 $109,854.86 1.030 %
VISTRA OPERATI 4.375% 05/01/29 92840VAH5 $110,711.73 1.030 %
PERFORMANCE FOOD 5.5% 10/15/27 69346VAA7 $109,038.06 1.020 %
VISTRA OPERATIO 7.75% 10/15/31 92840VAP7 $108,555.72 1.010 %
POST HOLDINGS IN 5.5% 12/15/29 737446AP9 $106,230.21 0.990 %
YUM BRANDS IN 4.625% 01/31/32 988498AP6 $98,154.39 0.920 %
PILGRIM'S PRIDE 6.25% 07/01/33 72147KAK4 $96,899.07 0.910 %
NRG ENERGY INC 5.75% 01/15/28 629377CE0 $95,067.58 0.890 %
ALBERTSONS COS 4.875% 02/15/30 013092AE1 $92,661.18 0.870 %
POST HOLDINGS 5.625% 01/15/28 737446AN4 $92,931.06 0.870 %
VISTRA CORP 5.5% 09/01/26 92840VAA0 $93,025.56 0.870 %
DARLING INGREDIENT 6% 06/15/30 237266AJ0 $93,639.69 0.870 %
YUM BRANDS IN 5.375% 04/01/32 988498AR2 $91,550.50 0.860 %
PG&E CORP 5.25% 07/01/30 69331CAJ7 $90,086.49 0.840 %
PG&E CORP 5% 07/01/28 69331CAH1 $89,165.37 0.830 %
COTY INC 5% 04/15/26 222070AE4 $88,618.20 0.830 %
PERFORMANCE FOO 4.25% 08/01/29 71376LAE0 $88,947.42 0.830 %
POST HOLDINGS IN 4.5% 09/15/31 737446AR5 $88,555.42 0.830 %
LAMB WESTON HL 4.125% 01/31/30 513272AD6 $86,317.37 0.810 %
PILGRIM'S PRID 5.875% 09/30/27 72147KAE8 $86,289.88 0.810 %
BELLRING BRANDS IN 7% 03/15/30 07831CAA1 $84,056.59 0.790 %
YUM BRANDS IN 3.625% 03/15/31 988498AN1 $85,052.27 0.790 %
PILGRIM'S PRIDE 4.25% 04/15/31 72147KAJ7 $81,211.61 0.760 %
US FOODS INC 4.75% 02/15/29 90290MAD3 $81,079.69 0.760 %
FERRELLGAS LP/ 5.875% 04/01/29 315289AC2 $80,133.71 0.750 %
NRG ENERGY INC 3.875% 02/15/32 629377CS9 $79,454.44 0.740 %
NRG ENERGY INC 3.625% 02/15/31 629377CR1 $77,960.80 0.730 %
CLEARWAY ENERGY 4.75% 03/15/28 18539UAC9 $76,278.91 0.710 %
ALBERTSONS COS/S 6.5% 02/15/28 01309QAA6 $74,823.14 0.700 %
ALBERTSONS COS 5.875% 02/15/28 013092AB7 $74,759.87 0.700 %
COTY/HFC PREST 6.625% 07/15/30 22207AAA0 $74,193.58 0.690 %
IRB HOLDING CORP 7% 06/15/25 44988MAC9 $73,569.36 0.690 %
CALPINE CORP 3.75% 03/01/31 131347CR5 $73,693.56 0.690 %
VECTOR GROUP LT 5.75% 02/01/29 92240MBL1 $73,151.42 0.680 %
YUM BRANDS INC 4.75% 01/15/30 988498AL5 $71,842.27 0.670 %
CLEARWAY ENERGY 3.75% 02/15/31 18539UAD7 $71,529.86 0.670 %
KFC HLD/PIZZA H 4.75% 06/01/27 48250NAC9 $70,578.69 0.660 %
SIMMONS FOOD I 4.625% 03/01/29 82873MAA1 $70,151.83 0.660 %
AMERIGAS PART/FI 5.5% 05/20/25 030981AK0 $70,323.73 0.660 %
ENERGIZER HOLD 4.375% 03/31/29 29272WAD1 $69,356.88 0.650 %
EG GLOBAL FINAN 6.75% 02/07/25 28228PAA9 $69,615.65 0.650 %
RITE AID CORP 8% 11/15/26 767754CL6 $69,766.67 0.650 %
PILGRIM'S PRIDE 3.5% 03/01/32 72147KAH1 $69,954.01 0.650 %
NRG ENERGY INC 5.25% 06/15/29 629377CH3 $69,233.08 0.650 %
CALPINE CORP 5% 02/01/31 131347CQ7 $69,530.35 0.650 %
EDGEWELL PERSONA 5.5% 06/01/28 28035QAA0 $67,905.04 0.630 %
1011778 BC / NEW 3.5% 02/15/29 68245XAP4 $67,179.33 0.630 %
ALBERTSONS COS/ 3.25% 03/15/26 013092AF8 $67,790.13 0.630 %
TERRAFORM POWER OP 5% 01/31/28 88104LAE3 $66,023.88 0.620 %
1011778 BC / N 4.375% 01/15/28 68245XAJ8 $66,147.08 0.620 %
AMERIGAS PART/ 5.875% 08/20/26 030981AJ3 $64,954.98 0.610 %
CD&R SMOKEY BUY 6.75% 07/15/25 12510CAA9 $65,586.81 0.610 %
TEMPUR SEALY INTL 4% 04/15/29 88023UAH4 $65,756.00 0.610 %
CEC ENTERTAINME 6.75% 05/01/26 125137AC3 $65,303.43 0.610 %
PRIMO WATER HO 4.375% 04/30/29 74168LAA4 $62,950.26 0.590 %
TEMPUR SEALY I 3.875% 10/15/31 88023UAJ0 $63,235.39 0.590 %
ALBERTSONS COS/S 7.5% 03/15/26 013092AA9 $61,086.50 0.570 %
CERDIA FINANZ G 10.5% 02/15/27 15679GAA0 $59,937.55 0.560 %
ALGONQUIN PWR & U V/R 01/18/82 015857AH8 $59,455.44 0.560 %
TRITON WATER HO 6.25% 04/01/29 89680EAA7 $58,944.96 0.550 %
HERBALIFE/HLF 7.875% 09/01/25 42704MAA0 $58,590.12 0.550 %
LAMB WESTON HL 4.375% 01/31/32 513272AE4 $59,237.80 0.550 %
TERRAFORM POWER 4.75% 01/15/30 88104LAG8 $57,991.91 0.540 %
EG GLOBAL FINANC 8.5% 10/30/25 28228PAB7 $58,181.99 0.540 %
FERRELLGAS LP/ 5.375% 04/01/26 315289AA6 $56,305.79 0.530 %
VECTOR GROUP LT 10.5% 11/01/26 92240MBJ6 $56,461.23 0.530 %
B&G FOODS INC 8% 09/15/28 05508WAC9 $55,192.68 0.520 %
CHOBANI LLC/FINA 7.5% 04/15/25 17027NAA0 $55,399.41 0.520 %
AMERIGAS PART/F 5.75% 05/20/27 030981AL8 $55,626.50 0.520 %
CALPINE CORP 4.625% 02/01/29 131347CP9 $55,012.57 0.510 %
B&G FOODS INC 5.25% 04/01/25 05508RAE6 $55,008.11 0.510 %
FIRSTENERGY CORP 3.4% 03/01/50 337932AM9 $53,163.08 0.500 %
PATTERN ENERGY O 4.5% 08/15/28 70339PAA7 $53,389.94 0.500 %
FIRSTENERGY CORP 5.1% 07/15/47 337932AJ6 $53,349.63 0.500 %
ENERGIZER HOLDI 4.75% 06/15/28 29272WAC3 $52,728.42 0.490 %
SUBURBAN PROPANE P 5% 06/01/31 864486AL9 $52,855.17 0.490 %
EDISON INTERNATIO V/R 06/15/53 281020AX5 $51,360.00 0.480 %
DARLING INGREDI 5.25% 04/15/27 237266AH4 $51,826.38 0.480 %
TOPAZ SOLAR FAR 5.75% 09/30/39 89054XAC9 $50,190.52 0.470 %
NEWELL BRANDS 6.625% 09/15/29 651229BD7 $50,680.19 0.470 %
FIRSTENERGY CO 7.375% 11/15/31 337932AC1 $50,401.23 0.470 %
NEXTERA ENERGY O 4.5% 09/15/27 65342QAB8 $49,111.75 0.460 %
FIRSTENERGY COR 2.65% 03/01/30 337932AL1 $49,101.75 0.460 %
1011778 BC / NE 5.75% 04/15/25 68245XAK5 $48,944.63 0.460 %
NEWELL BRANDS IN 6.5% 04/01/46 651229AY2 $48,240.99 0.450 %
KRONOS ACQ / KIK 5% 12/31/26 50106GAE2 $48,119.60 0.450 %
US FOODS INC 4.625% 06/01/30 90290MAE1 $46,922.48 0.440 %
NEWELL BRANDS 6.375% 09/15/27 651229BC9 $47,028.44 0.440 %
DRAX FINCO PLC 6.625% 11/01/25 26151AAA7 $47,287.45 0.440 %
AMERIGAS PART/ 9.375% 06/01/28 030981AM6 $47,074.73 0.440 %
NEWELL BRANDS 4.875% 06/01/25 651229BB1 $46,816.21 0.440 %
COTY INC 6.5% 04/15/26 222070AB0 $46,160.86 0.430 %
ACCO BRANDS COR 4.25% 03/15/29 00081TAK4 $46,180.59 0.430 %
MAJORDRIVE HOL 6.375% 06/01/29 56085RAA8 $45,638.44 0.430 %
COTY/HFC PRESTI 4.75% 01/15/29 222070AG9 $45,632.79 0.430 %
MURPHY OIL USA 4.75% 09/15/29 626738AE8 $45,238.96 0.420 %
US FOODS INC 6.875% 09/15/28 90290MAG6 $45,004.72 0.420 %
B&G FOODS INC 5.25% 09/15/27 05508WAB1 $45,397.71 0.420 %
CENTRAL GARDEN 4.125% 10/15/30 153527AN6 $45,247.18 0.420 %
EDGEWELL PERSO 4.125% 04/01/29 28035QAB8 $45,131.89 0.420 %
NEXTERA ENERGY 3.875% 10/15/26 65342QAL6 $44,359.73 0.410 %
DAVE & BUSTER' 7.625% 11/01/25 23833NAH7 $43,349.29 0.410 %
LAMB WESTON HL 4.875% 05/15/28 513272AC8 $44,252.05 0.410 %
HLF FIN SARL L 4.875% 06/01/29 40390DAC9 $43,659.27 0.410 %
TRANSALTA CORP 7.75% 11/15/29 89346DAH0 $43,784.90 0.410 %
SCOTTS MIRACLE-G 4.5% 10/15/29 810186AS5 $41,964.75 0.390 %
CALPINE CORP 5.25% 06/01/26 131347CK0 $41,548.29 0.390 %
NRG ENERGY INC 3.375% 02/15/29 629377CQ3 $41,542.13 0.390 %
VISTA OUTDOOR IN 4.5% 03/15/29 928377AC4 $40,302.00 0.380 %
DPL INC 4.125% 07/01/25 233293AR0 $40,294.50 0.380 %
SIGMA HOLDCO B 7.875% 05/15/26 82660CAA0 $40,838.83 0.380 %
KRONOS ACQ / KIK 7% 12/31/27 50106GAF9 $39,657.60 0.370 %
TREEHOUSE FOODS IN 4% 09/01/28 89469AAD6 $39,135.71 0.370 %
POST HOLDINGS I 5.75% 03/01/27 737446AM6 $39,603.52 0.370 %
SPECTRUM BRAND 3.875% 03/15/31 84762LAX3 $39,073.90 0.370 %
MURPHY OIL USA 3.75% 02/15/31 626738AF5 $38,641.12 0.360 %
SUNNOVA ENERGY 11.75% 10/01/28 86745GAG8 $38,617.14 0.360 %
SWF ESCROW ISSUE 6.5% 10/01/29 78500AAA6 $38,459.70 0.360 %
UNITED NATURAL 6.75% 10/15/28 911163AA1 $38,140.20 0.360 %
SCOTTS MIRACLE-GRO 4% 04/01/31 810186AX4 $38,258.50 0.360 %
CHOBANI LLC/FI 4.625% 11/15/28 17027NAB8 $37,815.91 0.350 %
SIZZLING PLATT/F 8.5% 11/28/25 830146AB2 $36,014.16 0.340 %
LEGENDS HOSPITALIT 5% 02/01/26 52473NAA6 $36,604.45 0.340 %
ARAGVI FINANCE 8.45% 04/29/26 03851RAB0 $34,831.59 0.330 %
FIRSTENERGY COR 2.25% 09/01/30 337932AP2 $35,012.91 0.330 %
BRINKER INTERNATIO 5% 10/01/24 109641AH3 $35,145.05 0.330 %
ARKO CORP 5.125% 11/15/29 041242AA6 $34,731.01 0.320 %
BRINKER INTERNA 8.25% 07/15/30 109641AK6 $34,467.22 0.320 %
NEWELL BRANDS 0% 04/01/36 651229AX4 $34,602.01 0.320 %
ACPRODUCTS HOL 6.375% 05/15/29 92641PAA4 $33,570.95 0.310 %
SUBURBAN PROPA 5.875% 03/01/27 864486AK1 $33,624.94 0.310 %
ATLANTICA SUST 4.125% 06/15/28 04916WAA2 $32,419.52 0.300 %
SUNNOVA ENERGY 5.875% 09/01/26 86745GAF0 $31,941.46 0.300 %
DPL INC 4.35% 04/15/29 233293AQ2 $31,359.06 0.290 %
CENTRAL GARDEN 4.125% 04/30/31 153527AP1 $30,843.77 0.290 %
YUM BRANDS INC 5.35% 11/01/43 988498AK7 $31,526.36 0.290 %
PAPA JOHN'S IN 3.875% 09/15/29 698813AA0 $30,644.68 0.290 %
SEG HLD LLC/SE 5.625% 10/15/28 78397KAA0 $30,873.19 0.290 %
MURPHY OIL USA 5.625% 05/01/27 626738AD0 $29,681.53 0.280 %
SCOTTS MIRACLE 4.375% 02/01/32 810186AW6 $30,358.00 0.280 %
LEEWARD RENEWAB 4.25% 07/01/29 524590AA4 $30,012.09 0.280 %
INGLES MARKETS INC 4% 06/15/31 457030AK0 $30,023.88 0.280 %
TRANSALTA CORP 6.5% 03/15/40 89346DAE7 $28,363.90 0.270 %
MARKS & SPENCE 7.125% 12/01/37 57069PAA0 $29,002.29 0.270 %
C&S GROUP ENTERPRI 5% 12/15/28 12467AAF5 $28,711.32 0.270 %
CLEARWAY ENERGY 3.75% 01/15/32 18539UAE5 $28,307.43 0.260 %
CENTRAL GARDEN 5.125% 02/01/28 153527AM8 $28,288.39 0.260 %
BLOOMIN' BRAND 5.125% 04/15/29 094234AA9 $27,063.49 0.250 %
FIRSTENERGY CORP 1.6% 01/15/26 337932AN7 $27,107.17 0.250 %
SPECTRUM BRANDS IN 5% 10/01/29 84762LAV7 $27,218.55 0.250 %
CARROLS RESTAU 5.875% 07/01/29 14574XAF1 $25,643.65 0.240 %
SAFEWAY INC 7.25% 02/01/31 786514BA6 $26,137.68 0.240 %
YUM BRANDS IN 6.875% 11/15/37 988498AD3 $26,038.68 0.240 %
GPS HOSPITALITY HO 7% 08/15/28 36262BAA0 $25,089.13 0.230 %
ENERGIZER HOLDIN 6.5% 12/31/27 29272WAF6 $23,965.75 0.220 %
TURNING POINT 5.625% 02/15/26 90041LAF2 $23,519.03 0.220 %
FIRSTENERGY COR 2.05% 03/01/25 337932AK3 $23,556.75 0.220 %
SPECTRUM BRANDS 5.5% 07/15/30 84762LAW5 $22,983.03 0.210 %
ORIFLAME INVES 5.125% 05/04/26 68621CAA7 $21,110.03 0.200 %
PERFORMANCE FO 6.875% 05/01/25 71376LAD2 $20,561.00 0.190 %
NRG ENERGY INC 6.625% 01/15/27 629377CC4 $19,887.18 0.190 %
SCOTTS MIRACLE- 5.25% 12/15/26 810186AP1 $14,161.33 0.130 %
99 ESCROW ISSUER 7.5% 01/15/26 65442QAA9 $14,080.96 0.130 %
CASH CASH $12,942.77 0.120 %
H-FOOD HOLDNG/HE 8.5% 06/01/26 577088AA5 $9,775.23 0.090 %
As of 09/29/2023 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)
Oct 2, 2023 Oct 3, 2023 Oct 6, 2023 0.16118
Sep 1, 2023 Sep 5, 2023 Sep 8, 2023 0.20112
Aug 1, 2023 Aug 2, 2023 Aug 7, 2023 0.20624
Jul 3, 2023 Jul 5, 2023 Jul 10, 2023 0.17462
Jun 1, 2023 Jun 2, 2023 Jun 7, 2023 0.22805
May 1, 2023 May 2, 2023 May 5, 2023 0.16588
Apr 3, 2023 Apr 4, 2023 Apr 7, 2023 0.09123
Mar 1, 2023 Mar 2, 2023 Mar 7, 2023 0.16470
Feb 1, 2023 Feb 2, 2023 Feb 7, 2023 0.15613
Dec 29, 2022 Dec 30, 2022 Jan 5, 2023 0.19176
Dec 1, 2022 Dec 2, 2022 Dec 7, 2022 0.17374
Nov 1, 2022 Nov 2, 2022 Nov 7, 2022 0.17677
Oct 3, 2022 Oct 4, 2022 Oct 7, 2022 0.16295
Sep 1, 2022 Sep 2, 2022 Sep 8, 2022 0.16578
Aug 1, 2022 Aug 2, 2022 Aug 5, 2022 0.17307
Jul 1, 2022 Jul 5, 2022 Jul 8, 2022 0.20230
Jun 1, 2022 Jun 2, 2022 Jun 6, 2022 0.14950
May 2, 2022 May 3, 2022 May 6, 2022 0.16510
Apr 1, 2022 Apr 4, 2022 Apr 7, 2022 0.22945

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/