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Careers

About BondBloxx Investment Management Corporation

BondBloxx Investment Management Corp is the first ETF issuer focused solely on addressing the needs of fixed income investors. We believe in the unique power and potential of ETFs to transform markets and improve investment performance by delivering greater transparency, lower costs, and increased liquidity to investors across asset classes. Through our decades of experience, we have seen ETF products transform equity markets, yet key bond market exposures remain untapped across the ETF landscape. The BondBloxx team is singularly focused on solving this gap by building ETFs that offer precise market exposures to the fixed income market.

Our Vision and Values

BondBloxx has brought together an industry leading team that has spent their careers challenging the status quo with first-to-market products and insights on how to use them. We are passionate about a hands-on approach to building a business that creates new opportunities for investors. We keenly listen to the fixed income community to ensure a full tool kit of solutions is available to meet their needs. We believe that to succeed we must attract and develop smart, capable, and passionate team members, while creating an environment where they will thrive and grow. We value teamwork, deep optimism, diverse perspectives, humility, and an environment where everyone’s voice is heard. Most importantly, we value kindness. We work hard for each other. We believe in celebrating milestones, small or large, that move us closer to building what we intend to be best in class products. We believe in giving back to our communities. We believe in the importance of a multi-faceted life and embrace it showing up in how we work together.

How To Apply

BondBloxx offers competitive salaries in line with industry standards and fully paid health insurance, a generous paid time off policy and professional development opportunities.

To apply, send a cover letter and resume to candidate@bondbloxxetf.com

BondBloxx is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, disability or any other protected status.

Job Openings

(Bay Area/Marin or New York)

Investment Platform Manager

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(Southeast- FL, GA, AL, MS, TN, KY, AR)

Business Development Executive- RIA

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(Midwest: CO, KS, MO, IL, IN, OH, IA, MI, MN, ND & SD)

Business Development Executive- RIA

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800.896.5089

Investor Relations

investors@BondBloxxETF.com

Media Relations

media@BondBloxxETF.com

General Inquiries

info@BondBloxxETF.com

Carefully consider the Funds’ investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Funds’ prospectus or, if available, the summary prospectus, which may be obtained by visiting this link. Read the prospectus carefully before investing.

There are risks associated with investing, including possible loss of principal. Fixed income investments are subject to interest rate risk; their value will normally decline as interest rates rise. Fixed income investments are also subject to credit risk, the risk that the issuer of a bond will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline. Investing in mortgage- and asset-backed securities involves interest rate, credit, valuation, extension and liquidity risks and the risk that payments on the underlying assets are delayed, prepaid, subordinated or defaulted on.

Distributor: Foreside Fund Services, LLC.

Precise refers to exposures that are targeted, accurate reflections the sector as defined by ICE Data Indices, LLC.

Liquidity refers to the ease with which an asset, or security, can be converted into ready cash without affecting its market price.

For a list of terms and conditions, click here

Copyright ©2023 BondBloxx Investment Management Corporation

BondBloxx Investment Management Corporation is a registered investment adviser. Nothing on this website shall constitute or serve as an offer to sell products or services in any country or jurisdiction by BondBloxx Investment Management. For informational purposes only. All information is given in good faith and without warranty and should not be considered investment advice or an offer of any security for sale.

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Investment Platform Manager (Bay Area/Marin or New York)

About BondBloxx Investment Management Corporation

BondBloxx Investment Management Corp. is the first ETF issuer focused solely on addressing the needs of fixed income investors. We believe in the unique power and potential of ETFs to transform markets and improve investment performance by delivering greater transparency, lower costs, and increased liquidity to investors across asset classes. Through our decades of experience, we have seen ETF products transform equity markets, yet key bond market exposures remain untapped across the ETF landscape. The BondBloxx team is singularly focused on solving this gap by building ETFs that offer precise market exposures to the fixed income market.

Our Vision and Values

BondBloxx has brought together an industry leading team that has spent their careers challenging the status quo with first-to-market products and insights on how to use them. We are passionate about a hands-on approach to building a business that creates new opportunities for investors. We keenly listen to the fixed income community to ensure a full tool kit of solutions is available to meet their needs.

We believe that to succeed we must attract and develop smart, capable, and passionate team members, while creating an environment where they will thrive and grow. We value teamwork, deep optimism, diverse perspectives, humility, and an environment where everyone’s voice is heard. Most importantly, we value kindness. We work hard for each other. We believe in celebrating milestones, small or large, that move us closer to building best in class products. We believe in giving back to our communities. We believe in the importance of a multi-faceted life and embrace it showing up in how we work together.

The Impact You Will Make

The Investment Platform Manager will help drive business planning and support programs and activities across the organization to deliver business strategy goals, regulatory compliance requirements, and Trust administration. Applicants should have strong experience in asset management and the operational processes that support the functions of ETF product development, portfolio management, and risk management. This position will report directly to the Chief Operating Officer of BondBloxx. As a Investment Platform Manager you will be involved in all aspects of managing our innovative and growing suite of fixed income ETFs.

Specific responsibilities include:

  • Ongoing oversight of Trust service providers, including sub-advisers, fund administrators, distributor and custodian.
  • Support leadership in managing the business’ relationships with IT, Operations, Compliance, to strengthen controls and processes.
  • Develop procedures and controls to enhance the firm’s existing control environment to monitor investment activities and regulatory requirements.
  • Oversee procedures to ensure compliance and risk policies are properly implemented and current.
  • Manage and update compliance calendar to reflect regulatory and internal requirements.
  • Interpret and communicate internal policies and procedures and regulatory requirements to portfolio management, trading, operations, marketing/client service and other departments, as necessary.
  • Problem-solve, research, and analyze information on operations matters impacting business activities.
  • Develop and implement project plans to support strategic goals of the organization.
  • Assist in preparation for quarterly Trust Board Meetings

What You Will Bring to the Team

  • Bachelor’s degree with 7+ years in financial services.
  • Previous experience in Fixed Income asset class.
  • Knowledge and expertise in investment management compliance, investment operations, and fund administration.
  • Thorough understanding of ETF mechanics and ETF eco-system.
  • Strategic planning/implementation and project management skills.
  • Willingness to dive in and take responsibility across many facets of BondBloxx’s growth and
    development.
  • Execution and project management skills – well-developed organizational skills to manage multiple projects and priorities. Able to quickly and effectively respond to rapidly changing business needs and urgent requests. Must be self-directed with the ability to explore innovative ways to perform tasks in an efficient and timely manner. Must be proactive, high energy, detail and results-oriented.
  • Effective relationship management skills and the ability to build strong relationships with external parties.
  • Excellent communication skills, both written and verbally.
  • Ability to excel in a fast-paced, transaction-oriented environment.

Extra Skills That are a Plus

  • Background or experience as a fund treasurer or financial reporting

BondBloxx offers competitive salaries in line with industry standards and fully paid health insurance, a generous paid time off policy and professional development opportunities.

To learn more about our innovative firm, go to BondBloxxETF.com
To apply, send a cover letter and resume to candidate@bondbloxxetf.com

BondBloxx is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, disability or any other protected status.

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Jr. Business Development Associate (Various Locations)

About BondBloxx Investment Management Corporation

BondBloxx Investment Management Corp. is the first ETF issuer focused solely on addressing the needs of fixed income investors. We believe in the unique power and potential of ETFs to transform markets and improve investment performance by delivering greater transparency, lower costs, and increased liquidity to investors across asset classes. Through our decades of experience, we have seen ETF products transform equity markets, yet key bond market exposures remain untapped across the ETF landscape. The BondBloxx team is singularly focused on solving this gap by building ETFs that offer precise market exposures to the fixed income market.

Our Vision and Values

BondBloxx has an industry-leading team that has spent their careers challenging the status quo with first-to-market products and insights on how to use them. We are passionate about a hands-on approach to building a business that creates new opportunities for investors. We keenly listen to the fixed income community to ensure a full tool kit of solutions is available to meet their needs.

We believe that to succeed we must attract and develop smart, capable, and passionate team members, while creating an environment where they will thrive and grow. We value teamwork, deep optimism, diverse perspectives, humility, and an environment where everyone’s voice is heard. Most importantly, we value kindness. We work hard for each other. We believe in celebrating milestones, small or large, that move us closer to building what we intend to be best-in-class products. We believe in giving back to our communities. We believe in the importance of a multi-faceted life and embrace it showing up in how we work together.

The Impact You Will Make

You will be part of the front line, client-facing team for BondBloxx and represent the overall team and our values. You will be integral to building trusted client relationships and being a point of contact for their questions about our products. You will help build processes that best keep us in touch with our customers. You will work closely with our Capital Markets team and our Portfolio Managers to bring outstanding service to our clients. If you are great with people, incredibly detail-oriented and a creative thinker, we would love to work with you.

Specific responsibilities:
  • Generate new clients of BondBloxx ETFs
  • Manage the sales process with clients and prospects: identify potential clients, contact them, understand their business, identify ways for BondBloxx to provide solutions
  • Manage and grow a pipeline of deals and opportunities in concert with sales partners to generate sales results.
  • Demonstrate a deep understanding of BondBloxx products and be able to clearly articulate the features and benefits of BondBloxx ETFs
  • Understand fixed income markets and the ETF landscape
  • Engage with and form relationships with sophisticated investors, particularly Portfolio Managers and ETF/Fixed Income analysts, to become a trusted resource on bond market structure, trading and fixed income investment strategies utilizing ETFs
  • Adhere to policies and procedures to ensure compliance in highly regulated environment
  • Work closely with internal partners to improve:
    • Marketing campaigns and messaging
    • Product development
    • Operations, process, efficiency & productivity

What You Will Bring to the Team

  • 3+ years of experience in sales and business development, preferably in ETFs and/or fixed income sales with a consistent, proven track record of results
  • Appropriate FINRA licenses required (Series 7 & 63)
  • Successful track record in a high-volume transaction sales environment
  • Outstanding communication, organizational and time management skills
  • Excellent presentation and listening skills
  • Capital markets and fixed income expertise
  • Consultative selling experience
  • Strong business acumen and desire to develop skills in an entrepreneurial organization
  • Excellent communication skills, both written and verbally
  • Ability to excel in a fast-paced, transaction-oriented environment

Extra skills That Are a Plus

  • Knowledge of fixed income markets a plus, but not required

BondBloxx offers competitive salaries in line with industry standards, fully paid health insurance, a generous paid time off policy and professional development opportunities.

To learn more about our innovative firm, go to BondBloxxETF.com.

To apply, send a cover letter and resume to candidate@bondbloxxetf.com

BondBloxx is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, disability or any other protected status.

<- Back to Job Openings

Business Development Executive - RIA (Southeast - FL, GA, AL, MS, TN, KY, AR)

About BondBloxx Investment Management Corporation

BondBloxx Investment Management Corp. is the first ETF issuer focused solely on addressing the needs of fixed income investors. We believe in the unique power and potential of ETFs to transform markets and improve investment performance by delivering greater transparency, lower costs, and increased liquidity to investors across asset classes. Through our decades of experience, we have seen ETF products transform equity markets, yet key bond market exposures remain untapped across the ETF landscape. The BondBloxx team is singularly focused on solving this gap by building ETFs that offer precise market exposures to the fixed income market.

Our Vision and Values

BondBloxx has brought together an industry-leading team that have spent their careers challenging the status quo with first-to-market products and insights on using BondBloxx has brought together an industry-leading team that has spent their careers challenging the status quo with first-to-market products and insights on using them. We are passionate about a hands- on approach to building a business that creates new investor opportunities. We keenly listen to the fixed income community to ensure a full tool kit of solutions is available to meet their needs.

We believe that to succeed we must attract and develop smart, capable, and passionate team members, while creating an environment where they will thrive and grow. We value teamwork, deep optimism, diverse perspectives, humility, and an environment where everyone’s voice is heard. Most importantly, we value kindness. We work hard for each other. We believe in celebrating milestones, small or large, that move us closer to building what we intend to be best in class products. We believe in giving back to our communities. We believe in the importance of a multi-faceted life and embrace it showing up in how we work together.

The Impact You Will Make

You will be part of the front line, client- facing team for BondBloxx and represent the overall team and our values. You will be integral to building and managing trusted client relationships. You will help build processes that scale, create a culture of accountability, and motivate your team to deliver excellent client engagements. Your insights from the field will be invaluable to our forward growth. You will work closely with our Capital Markets team and our Portfolio Managers to bring what we hope will be best in class service to our clients. If you are great with people and have a proven track record of generating results, we would love to work with you.

Specific responsibilities include:

  • Developing and closing sales opportunities for BondBloxx ETFs with large RIAs, financial advisors, and institutions in designated Southeast territory
  • Generating and growing a pipeline by leveraging relationship networks, generating referrals, conducting strategic research and cold calling to drive results in territory.
  • Visiting clients at their place of business, especially in the key business hubs, at least once per quarter.
  • Engaging with sophisticated investors, particularly CIOs and Portfolio Managers, on bond market structure, trading and fixed income investment strategies
  • Working closely with internal partners to improve:
    • Marketing campaigns and effective messaging
    • Product development

What You Will Bring to the Team

  • 10+ years of experience in sales and business development, preferably in Fixed Income sales with a consistent, proven track record of results
  • Appropriate FINRA licenses required (Series 7 & 63)
  • Existing relationships with RIA, financial advisors, and institutions in the Southeast territory.
  • Experience selling ETF, mutual funds, and/or separate accounts and ability to bring new products to scale
  • Strong business acumen and successful track record in a high-volume transaction sales environment
  • Outstanding communication, organizational and time management skills
  • Excellent written, presentation and listening skills
  • Deep capital markets and Fixed Income expertise
  • Must be able to thrive in a very fast paced, team-oriented environment

The preferred location base would be within the Atlanta, GA area or within the territory of Florida.

Extra Skills That are a Plus

  • MBA or CFA

BondBloxx offers competitive salaries in line with industry standards and fully paid health insurance, a generous paid time off policy and professional development opportunities.

To learn more about our innovative firm, go to BondBloxxETF.com
To apply, send a cover letter and resume to candidate@bondbloxxetf.com

BondBloxx is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, disability or any other protected status.

<- Back to Job Openings

Business Development Executive - RIA (Midwest: CO, KS, MO, IL, IN, OH, IA, MI, MN, ND & SD)

About BondBloxx Investment Management Corporation

BondBloxx Investment Management Corp. is the first ETF issuer focused solely on addressing the needs of fixed income investors. We believe in the unique power and potential of ETFs to transform markets and improve investment performance by delivering greater transparency, lower costs, and increased liquidity to investors across asset classes. Through our decades of experience, we have seen ETF products transform equity markets, yet key bond market exposures remain untapped across the ETF landscape. The BondBloxx team is singularly focused on solving this gap by building ETFs that offer precise market exposures to the fixed income market.

Our Vision and Values

BondBloxx has brought together an industry-leading team that have spent their careers challenging the status quo with first-to-market products and insights on using BondBloxx has brought together an industry-leading team that has spent their careers challenging the status quo with first-to-market products and insights on using them. We are passionate about a hands- on approach to building a business that creates new investor opportunities. We keenly listen to the fixed income community to ensure a full tool kit of solutions is available to meet their needs.

We believe that to succeed we must attract and develop smart, capable, and passionate team members, while creating an environment where they will thrive and grow. We value teamwork, deep optimism, diverse perspectives, humility, and an environment where everyone’s voice is heard. Most importantly, we value kindness. We work hard for each other. We believe in celebrating milestones, small or large, that move us closer to building what we intend to be best in class products. We believe in giving back to our communities. We believe in the importance of a multi-faceted life and embrace it showing up in how we work together.

The Impact You Will Make

You will be part of the front line, client- facing team for BondBloxx and represent the overall team and our values. You will be integral to building and managing trusted client relationships. You will help build processes that scale, create a culture of accountability, and motivate your team to deliver excellent client engagements. Your insights from the field will be invaluable to our forward growth. You will work closely with our Capital Markets team and our Portfolio Managers to bring what we hope will be best in class service to our clients. If you are great with people and have a proven track record of generating results, we would love to work with you.

Specific responsibilities include:

  • Developing and closing sales opportunities for BondBloxx ETFs with large RIAs, financial advisors, and institutions in designated Midwest territory
  • Generating and growing a pipeline by leveraging relationship networks, generating referrals, conducting strategic research and cold calling to drive results in territory.
  • Visiting clients at their place of business, especially in the key business hubs, at least once per quarter.
  • Engaging with sophisticated investors, particularly CIOs and Portfolio Managers, on bond market structure, trading and fixed income investment strategies
  • Working closely with internal partners to improve:
    • Marketing campaigns and effective messaging
    • Product development

What You Will Bring to the Team

  • 10+ years of experience in sales and business development, preferably in Fixed Income sales with a consistent, proven track record of results
  • Appropriate FINRA licenses required (Series 7 & 63)
  • Existing relationships with RIA, financial advisors, and institutions in the Midwest territory.
  • Experience selling ETF, mutual funds, and/or separate accounts and ability to bring new products to scale
  • Strong business acumen and successful track record in a high-volume transaction sales environment
  • Outstanding communication, organizational and time management skills
  • Excellent written, presentation and listening skills
  • Deep capital markets and Fixed Income expertise
  • Must be able to thrive in a very fast paced, team-oriented environment

The preferred location base would be within the Atlanta, GA area or within the territory of Florida.

Extra Skills That are a Plus

  • MBA or CFA

BondBloxx offers competitive salaries in line with industry standards and fully paid health insurance, a generous paid time off policy and professional development opportunities.

To learn more about our innovative firm, go to BondBloxxETF.com
To apply, send a cover letter and resume to candidate@bondbloxxetf.com

BondBloxx is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, disability or any other protected status.
Products

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.

Distribution Schedule
Index Overview
Prospectus 
Statement of Additional Information

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.

Distribution Schedule
Index Overview
Prospectus
SAI

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

Distribution Schedule 
Index Overview
Prospectus
SAI

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/