HYHG
High Yield—Interest Rate Hedged
Morningstar Rating
Overall Morningstar Rating out of 278 Nontraditional Bond funds based on risk-adjusted returns as of 6/30/24.
Why Invest in HYHG?
-
Provides the return potential of a diversified portfolio of high-yield corporate bonds.
-
Targets zero interest rate risk by including a built-in hedge against rising rates that uses short positions in U.S. Treasury futures.
-
Generally offers lower interest rate sensitivity than short-term bonds by targeting a duration of zero.
View all Fund
detail sections
Why Invest in HYHG?
-
Provides the return potential of a diversified portfolio of high-yield corporate bonds.
-
Targets zero interest rate risk by including a built-in hedge against rising rates that uses short positions in U.S. Treasury futures.
-
Generally offers lower interest rate sensitivity than short-term bonds by targeting a duration of zero.
Documents & Downloads
You may order paper copies by contacting ProShares Client Services at 866-PRO-5125 (866-776-5125)
Total Return
Month-End Total Returns as of 8/31/2024
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| HYHG Market Price | 0.77% | 1.67% | 4.31% | 6.67% | 11.58% | 6.93% | 5.80% | 3.71% | 3.74% | 05/21/2013 |
| HYHG NAV | 0.82% | 1.86% | 4.58% | 6.52% | 11.65% | 6.93% | 5.76% | 3.73% | 3.72% | 05/21/2013 |
| FTSE High Yield (Treasury Rate-Hedged) Index | 1.01% | 2.19% | 4.87% | 6.93% | 11.98% | 7.37% | 6.12% | 4.43% | 4.46% | -- |
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| HYHG Market Price | -0.08% | 2.06% | 4.83% | 4.83% | 12.00% | 6.43% | 5.25% | 3.45% | 3.64% | 05/21/2013 |
| HYHG NAV | 0.15% | 1.79% | 4.73% | 4.73% | 12.41% | 6.44% | 5.28% | 3.51% | 3.62% | 05/21/2013 |
| FTSE High Yield (Treasury Rate-Hedged) Index | 0.52% | 1.88% | 5.18% | 5.18% | 12.75% | 6.93% | 5.68% | 4.22% | 4.37% | -- |
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see above.
About the Fund
Snapshot
- Ticker HYHG
- Intraday Ticker HYHG.IV
- CUSIP 74348A541
- Inception Date 5/21/13
- Expense Ratio 0.50%
- NAV Calculation Time 3:00 p.m. ET
Price
as of 10/04/2024- NAV $64.75
- NAV Change $+0.37
- Market Price $64.87
- Market Price Change $+0.43
- Trading Volume (M) 9,113
- 30-Day Median Bid Ask Spread 0.31%
- View Premium / Discount
Snapshot
- Ticker HYHG
- Intraday Ticker HYHG.IV
- CUSIP 74348A541
- Inception Date 5/21/13
- Expense Ratio 0.50%
- NAV Calculation Time 3:00 p.m. ET
Price
as of 10/04/2024- NAV $64.75
- NAV Change $+0.37
- Market Price $64.87
- Market Price Change $+0.43
- Trading Volume (M) 9,113
- 30-Day Median Bid Ask Spread 0.31%
- View Premium / Discount
Exposures
Index as of 9/30/2022
Holdings
as of 10/04/2024
| Weight | Ticker | Description | Coupon Rate | Maturity Date | Exposure Value (Notional + GL) |
Market Value | Shares/Contracts | SEDOL Number |
|---|---|---|---|---|---|---|---|---|
| 1.58% | -- | TRANSDIGM INC | 5.50% | 11/15/2027 | -- | $2,245,334.14 | 2,265,000 | BM9QGV5 |
| 1.44% | -- | CCO HLDGS LLC/CAP CORP | 4.25% | 02/01/2031 | -- | $2,057,455.73 | 2,348,000 | BN2R7D1 |
| 1.39% | -- | CLOUD SOFTWARE GRP INC | 6.50% | 03/31/2029 | -- | $1,980,956.33 | 1,999,000 | BN2QTP4 |
| 1.21% | -- | AMERICAN AIRLINES/AADVAN | 5.75% | 04/20/2029 | -- | $1,721,065.35 | 1,735,000 | BM8H783 |
| 1.18% | -- | MAUSER PACKAGING SOLUT | 7.88% | 04/15/2027 | -- | $1,686,290.90 | 1,631,000 | BSMMD99 |
| 1.18% | -- | CAESARS ENTERTAIN INC | 7.00% | 02/15/2030 | -- | $1,676,673.23 | 1,614,000 | BPX27Q2 |
| 1.15% | -- | DISH NETWORK CORP | 11.75% | 11/15/2027 | -- | $1,644,174.88 | 1,573,000 | BQB9NW0 |
| 1.10% | -- | HUB INTERNATIONAL LTD | 7.38% | 01/31/2032 | -- | $1,562,460.55 | 1,523,000 | BQ67HZ0 |
| 1.07% | -- | MEDLINE BORROWER LP | 5.25% | 10/01/2029 | -- | $1,525,986.51 | 1,566,000 | BMWDGR9 |
| 1.04% | -- | DIRECTV FIN LLC/COINC | 5.88% | 08/15/2027 | -- | $1,483,826.37 | 1,526,000 | BN765Z1 |
| 0.97% | -- | 1011778 BC / NEW RED FIN | 4.00% | 10/15/2030 | -- | $1,383,730.68 | 1,504,000 | BMT6QQ0 |
| 0.97% | -- | VENTURE GLOBAL LNG INC | 9.50% | 02/01/2029 | -- | $1,381,242.49 | 1,237,000 | BQ80PR5 |
| 0.93% | -- | PANTHER ESCROW ISSUER | 7.13% | 06/01/2031 | -- | $1,321,165.40 | 1,283,000 | BS2FMQ8 |
| 0.92% | -- | DAVITA INC | 4.63% | 06/01/2030 | -- | $1,308,442.32 | 1,384,000 | BMW7NB4 |
| 0.90% | -- | CHS/COMMUNITY HEALTH SYS | 5.63% | 03/15/2027 | -- | $1,283,064.24 | 1,316,000 | BNNTB78 |
| 0.90% | -- | CARNIVAL CORP | 5.75% | 03/01/2027 | -- | $1,275,600.70 | 1,265,000 | BMHYR18 |
| 0.84% | -- | SIRIUS XM RADIO INC | 4.00% | 07/15/2028 | -- | $1,199,628.86 | 1,286,000 | BMBJVY0 |
| 0.84% | -- | EMRLD BOR / EMRLD CO-ISS | 6.63% | 12/15/2030 | -- | $1,195,787.32 | 1,169,000 | BPLP3M1 |
| 0.84% | -- | INTELSAT JACKSON HLDG | 6.50% | 03/15/2030 | -- | $1,193,745.57 | 1,248,000 | BNTY069 |
| 0.81% | -- | NEPTUNE BIDCO US INC | 9.29% | 04/15/2029 | -- | $1,159,375.67 | 1,201,000 | BQKN5B6 |
| 0.78% | -- | UNITI GROUP/CSL CAPITAL | 10.50% | 02/15/2028 | -- | $1,112,038.36 | 1,046,000 | BR1H7L8 |
| 0.77% | -- | TENET HEALTHCARE CORP | 6.13% | 06/15/2030 | -- | $1,101,500.68 | 1,085,000 | BPW9BQ2 |
| 0.76% | -- | ORGANON & CO/ORGANON FOR | 5.13% | 04/30/2031 | -- | $1,078,281.09 | 1,155,000 | BMV1L02 |
| 0.75% | -- | UKG INC | 6.88% | 02/01/2031 | -- | $1,064,148.86 | 1,032,000 | BS2FZM5 |
| 0.74% | -- | POST HOLDINGS INC | 6.38% | 03/01/2033 | -- | $1,051,669.94 | 1,040,000 | BP812N6 |
| 0.72% | -- | VENTURE GLOBAL LNG INC | 8.38% | 06/01/2031 | -- | $1,020,777.88 | 972,000 | BRK4301 |
| 0.69% | -- | OLYMPUS WTR US HLDG CORP | 9.75% | 11/15/2028 | -- | $985,170.33 | 925,000 | BRBH8M6 |
| 0.68% | -- | CALPINE CORP | 4.50% | 02/15/2028 | -- | $975,233.17 | 1,002,000 | BJVS9S6 |
| 0.67% | -- | ATHENAHEALTH GROUP INC | 6.50% | 02/15/2030 | -- | $948,762.09 | 994,000 | BN7SNC0 |
| 0.66% | -- | TRANSDIGM INC | 6.38% | 03/01/2029 | -- | $944,561.24 | 920,000 | BNM6H94 |
| 0.66% | -- | SOUTHWESTERN ENERGY CO | 4.75% | 02/01/2032 | -- | $936,483.59 | 980,000 | BMH4406 |
| 0.64% | -- | ATLAS LUXCO 4 / ALL UNI | 4.63% | 06/01/2028 | -- | $906,573.85 | 964,000 | BMVXSB8 |
| 0.63% | -- | STAPLES INC | 10.75% | 09/01/2029 | -- | $899,117.73 | 935,000 | BS89C64 |
| 0.63% | -- | TENET HEALTHCARE CORP | 6.13% | 10/01/2028 | -- | $895,097.92 | 892,000 | BPVDS42 |
| 0.62% | -- | NCL CORPORATION LTD | 5.88% | 03/15/2026 | -- | $878,766.67 | 881,000 | BMB5SR0 |
| 0.61% | -- | ALBERTSONS COS/SAFEWAY | 3.50% | 03/15/2029 | -- | $869,110.04 | 939,000 | BKPMPR2 |
| 0.60% | -- | UNIVISION COMMUNICATIONS | 6.63% | 06/01/2027 | -- | $859,365.38 | 862,000 | BMG68Y5 |
| 0.60% | -- | JETBLUE AIRWAYS/LOYALTY | 9.88% | 09/20/2031 | -- | $852,701.61 | 818,000 | BRXCZB7 |
| 0.59% | -- | CARNIVAL HLDGS BM LTD | 10.38% | 05/01/2028 | -- | $847,442.83 | 785,000 | BM99Y87 |
| 0.59% | -- | HILTON DOMESTIC OPERATIN | 3.63% | 02/15/2032 | -- | $837,008.01 | 930,000 | BKPJT48 |
| 0.58% | -- | UNITED AIRLINES INC | 4.38% | 04/15/2026 | -- | $824,833.13 | 840,000 | BMG8799 |
| 0.58% | -- | MCAFEE CORP | 7.38% | 02/15/2030 | -- | $822,612.58 | 848,000 | BNNPV76 |
| 0.58% | -- | CSC HOLDINGS LLC | 11.75% | 01/31/2029 | -- | $821,561.25 | 850,000 | BRBCV11 |
| 0.57% | -- | IRON MOUNTAIN INC | 4.50% | 02/15/2031 | -- | $815,516.10 | 863,000 | BMG1HP4 |
| 0.57% | -- | BOOST NEWCO BORROWER LLC | 7.50% | 01/15/2031 | -- | $811,856.67 | 761,000 | BL6CM66 |
| 0.56% | -- | IMOLA MERGER CORP | 4.75% | 05/15/2029 | -- | $803,333.09 | 826,000 | BJNPGH3 |
| 0.55% | -- | FIRST QUANTUM MINERALS L | 6.88% | 10/15/2027 | -- | $790,132.59 | 797,000 | BMZRC58 |
| 0.55% | -- | CONNECT FINCO SARL / CONNECT US FINCO LLC CALLABLE BOND FIXED 9% 15/SEP/2029 USD 1000 | -- | -- | -- | $787,486.50 | 807,000 | -- |
| 0.55% | -- | SBA COMMUNICATIONS CORP | 3.88% | 02/15/2027 | -- | $787,398.60 | 810,000 | BNBTL14 |
| 0.55% | -- | DISH DBS CORP | 5.25% | 12/01/2026 | -- | $786,742.15 | 856,000 | BNRLYV5 |
| 0.55% | -- | ALLIANT HOLD / CO-ISSUER | 7.00% | 01/15/2031 | -- | $784,852.22 | 768,000 | BNDQTF3 |
| 0.55% | -- | NGL ENRGY OP/FIN CORP | 8.38% | 02/15/2032 | -- | $777,922.28 | 763,000 | BPG27W5 |
| 0.54% | -- | PG&E CORP | 5.25% | 07/01/2030 | -- | $772,034.43 | 782,000 | BLCC408 |
| 0.54% | -- | ROYAL CARIBBEAN CRUISES | 6.00% | 02/01/2033 | -- | $768,751.57 | 755,000 | BP09164 |
| 0.53% | -- | CLOUD SOFTWARE GRP INC | 9.00% | 09/30/2029 | -- | $758,364.01 | 749,000 | BRJQLF9 |
| 0.53% | -- | BLOCK INC | 6.50% | 05/15/2032 | -- | $757,204.81 | 734,000 | BS561W7 |
| 0.53% | -- | NRG ENERGY INC | 3.63% | 02/15/2031 | -- | $748,753.61 | 828,000 | BNM51T9 |
| 0.52% | -- | JANE STREET GRP/JSG FIN | 7.13% | 04/30/2031 | -- | $746,102.36 | 709,000 | BLDCK76 |
| 0.52% | -- | LEVEL 3 FINANCING INC | 11.00% | 11/15/2029 | -- | $738,449.26 | 665,000 | BS2FMP7 |
| 0.50% | -- | ALTICE FRANCE SA | 5.50% | 10/15/2029 | -- | $714,059.71 | 1,006,000 | BMXJSV4 |
| 0.50% | -- | TK ELEVATOR US NEWCO INC | 5.25% | 07/15/2027 | -- | $711,558.65 | 721,000 | BMC7DR0 |
| 0.50% | -- | CIVITAS RESOURCES INC | 8.75% | 07/01/2031 | -- | $707,659.68 | 665,000 | BRT75V6 |
| 0.50% | -- | UNITED AIRLINES INC | 4.63% | 04/15/2029 | -- | $706,008.15 | 733,000 | BMG8788 |
| 0.49% | -- | TEGNA INC | 4.63% | 03/15/2028 | -- | $698,053.24 | 735,000 | BNTBJ41 |
| 0.49% | -- | PRIME SECSRVC BRW/FINANC | 3.38% | 08/31/2027 | -- | $691,291.16 | 729,000 | BMFBJS2 |
| 0.48% | -- | ALTICE FRANCE SA | 5.13% | 07/15/2029 | -- | $689,186.29 | 961,000 | BM9V193 |
| 0.48% | -- | TENNECO INC | 8.00% | 11/17/2028 | -- | $686,083.25 | 748,000 | BQ1PCD2 |
| 0.48% | -- | CHART INDUSTRIES INC | 7.50% | 01/01/2030 | -- | $678,087.47 | 646,000 | BLC8Z03 |
| 0.47% | -- | NOVELIS CORP | 4.75% | 01/30/2030 | -- | $676,779.98 | 704,000 | BKLPSC1 |
| 0.47% | -- | SMYRNA READY MIX CONCRET | 8.88% | 11/15/2031 | -- | $675,148.36 | 628,000 | BLDCTF7 |
| 0.47% | -- | UNICREDIT SPA | 5.46% | 06/30/2035 | -- | $671,990.27 | 686,000 | BM9QJS3 |
| 0.47% | -- | WEATHERFORD INTERNATIONA | 8.63% | 04/30/2030 | -- | $668,676.76 | 642,000 | BNRPC80 |
| 0.46% | -- | MEDLINE BORROWER LP | 3.88% | 04/01/2029 | -- | $657,585.88 | 696,000 | BMW4P42 |
| 0.46% | -- | BAUSCH HEALTH COS INC | 11.00% | 09/30/2028 | -- | $654,954.89 | 710,000 | BNBTNV8 |
| 0.45% | -- | PERFORMANCE FOOD GROUP I | 4.25% | 08/01/2029 | -- | $644,105.99 | 679,000 | BNHT925 |
| 0.45% | -- | FRONTIER COMMUNICATIONS | 5.00% | 05/01/2028 | -- | $643,938.80 | 652,000 | BMF4PS3 |
| 0.45% | -- | LIGHTNING POWER LLC | 7.25% | 08/15/2032 | -- | $638,590.26 | 612,000 | BT3NFD6 |
| 0.45% | -- | PRIME HEALTHCARE SERVICE | 9.38% | 09/01/2029 | -- | $637,178.16 | 622,000 | BTCK903 |
| 0.44% | -- | DT MIDSTREAM INC | 4.38% | 06/15/2031 | -- | $628,104.03 | 669,000 | BLN9LB8 |
| 0.44% | -- | AVANTOR FUNDING INC | 4.63% | 07/15/2028 | -- | $625,502.10 | 646,000 | BMVVY70 |
| 0.43% | -- | CLEVELAND-CLIFFS INC | 7.00% | 03/15/2032 | -- | $615,151.75 | 611,000 | BM8K6S5 |
| 0.43% | -- | SPIRIT AEROSYSTEMS INC | 9.75% | 11/15/2030 | -- | $612,471.75 | 550,000 | BR1YST4 |
| 0.42% | -- | STANDARD INDUSTRIES INC | 4.38% | 07/15/2030 | -- | $601,987.74 | 642,000 | BMYXXP4 |
| 0.42% | -- | GFL ENVIRONMENTAL INC | 6.75% | 01/15/2031 | -- | $596,903.74 | 572,000 | BNKBFF3 |
| 0.41% | -- | WESCO DISTRIBUTION INC | 7.25% | 06/15/2028 | -- | $589,721.12 | 577,000 | BMYMZT9 |
| 0.41% | -- | TALEN ENERGY SUPPLY LLC | 8.63% | 06/01/2030 | -- | $589,589.77 | 542,000 | BQFHT88 |
| 0.41% | -- | UNITED RENTALS NORTH AM | 3.88% | 02/15/2031 | -- | $589,101.25 | 635,000 | BLFGYK7 |
| 0.41% | -- | FRONTIER COMMUNICATIONS | 8.75% | 05/15/2030 | -- | $587,521.99 | 554,000 | BPG22V9 |
| 0.41% | -- | BUILDERS FIRSTSOURCE INC | 4.25% | 02/01/2032 | -- | $583,838.28 | 635,000 | BMD9BZ9 |
| 0.41% | -- | ALLIED UNIVERSAL HOLDCO | 7.88% | 02/15/2031 | -- | $578,916.53 | 569,000 | BMCGQM3 |
| 0.40% | -- | ALLISON TRANSMISSION INC | 3.75% | 01/30/2031 | -- | $575,932.32 | 634,000 | BMX50K5 |
| 0.40% | -- | CLEAR CHANNEL OUTDOOR HO | 7.50% | 06/01/2029 | -- | $575,211.48 | 674,000 | BNHS096 |
| 0.40% | -- | TULLOW OIL PLC | 10.25% | 05/15/2026 | -- | $573,664.20 | 612,000 | BKPGFV8 |
| 0.40% | -- | NCR ATLEOS LLC | 9.50% | 04/01/2029 | -- | $572,007.28 | 520,000 | BRCDDH3 |
| 0.40% | -- | CQP HOLDCO LP/BIP-V CHIN | 5.50% | 06/15/2031 | -- | $571,693.00 | 589,000 | BM8H4Y8 |
| 0.40% | -- | FERTITTA ENTERTAINMENT | 4.63% | 01/15/2029 | -- | $570,390.06 | 600,000 | BMH29D8 |
| 0.40% | -- | LIVE NATION ENTERTAINMEN | 6.50% | 05/15/2027 | -- | $564,896.72 | 557,000 | BMFKW46 |
| 0.39% | -- | BAUSCH HEALTH COS INC | 4.88% | 06/01/2028 | -- | $557,836.74 | 715,000 | BLB14D9 |
| 0.39% | -- | WINDSTREAM ESCROW LLC | 7.75% | 08/15/2028 | -- | $557,077.53 | 556,000 | BMH17V9 |
| 0.38% | -- | VZ SECURED FINANCING BV | 5.00% | 01/15/2032 | -- | $548,305.00 | 598,000 | BM94BT2 |
| 0.38% | -- | ICAHN ENTERPRISES/FIN | 5.25% | 05/15/2027 | -- | $544,948.88 | 569,000 | BLGSGV7 |
| 0.38% | -- | CHS/COMMUNITY HEALTH SYS | 10.88% | 01/15/2032 | -- | $542,719.11 | 500,000 | BP2F579 |
| 0.38% | -- | BLOCK INC | 3.50% | 06/01/2031 | -- | $542,261.72 | 597,000 | BLD7383 |
| 0.37% | -- | ZAYO GROUP HOLDINGS INC | 4.00% | 03/01/2027 | -- | $534,126.33 | 578,000 | BLBQFB9 |
| 0.37% | -- | BRAND INDUSTRIAL SERVICE | 10.38% | 08/01/2030 | -- | $531,663.43 | 500,000 | BS3BCF4 |
| 0.37% | -- | VISTRA OPERATIONS CO LLC | 4.38% | 05/01/2029 | -- | $531,662.51 | 550,000 | BN0ZRZ9 |
| 0.37% | -- | NEW FORTRESS ENERGY INC | 6.50% | 09/30/2026 | -- | $527,254.88 | 574,000 | BP0X973 |
| 0.37% | -- | CIVITAS RESOURCES INC | 8.38% | 07/01/2028 | -- | $521,993.50 | 500,000 | BRT7527 |
| 0.36% | -- | NATIONSTAR MTG HLD INC | 7.13% | 02/01/2032 | -- | $519,713.50 | 500,000 | BS7Y6M4 |
| 0.36% | -- | COMSTOCK RESOURCES INC | 6.75% | 03/01/2029 | -- | $517,011.01 | 529,000 | BMW2W01 |
| 0.36% | -- | CLYDESDALE ACQUISITION | 8.75% | 04/15/2030 | -- | $516,476.84 | 507,000 | BQ3QRD8 |
| 0.36% | -- | FIRST QUANTUM MINERALS L | 9.38% | 03/01/2029 | -- | $514,206.22 | 485,000 | BP6GPK1 |
| 0.36% | -- | VMED O2 UK FINAN | 4.75% | 07/15/2031 | -- | $507,985.39 | 574,000 | BP7LR98 |
| 0.35% | -- | ACRISURE LLC / FIN INC | 7.50% | 11/06/2030 | -- | $501,654.83 | 489,000 | BT3CPW2 |
| 0.35% | -- | CHURCHILL DOWNS INC | 5.75% | 04/01/2030 | -- | $499,253.75 | 500,000 | BPP2DX9 |
| 0.35% | -- | VALARIS LTD | 8.38% | 04/30/2030 | -- | $497,345.29 | 481,000 | BPK4CP5 |
| 0.35% | -- | H&E EQUIPMENT SERVICES | 3.88% | 12/15/2028 | -- | $493,270.91 | 528,000 | BLSN159 |
| 0.34% | -- | CSC HOLDINGS LLC | 4.63% | 12/01/2030 | -- | $491,086.11 | 940,000 | BM9M1M9 |
| 0.34% | -- | VMED O2 UK FINAN | 4.25% | 01/31/2031 | -- | $490,976.43 | 561,000 | BKVH9C4 |
| 0.34% | -- | PETSMART INC/PETSMART FI | 7.75% | 02/15/2029 | -- | $487,514.14 | 503,000 | BMTN6F0 |
| 0.34% | -- | CRESCENT ENERGY FINANCE | 9.25% | 02/15/2028 | -- | $486,409.40 | 461,000 | BPQYX34 |
| 0.34% | -- | WAND NEWCO 3 INC | 7.63% | 01/30/2032 | -- | $486,011.07 | 463,000 | BRBCTZ1 |
| 0.34% | -- | STAR PARENT INC | 9.00% | 10/01/2030 | -- | $484,306.54 | 453,000 | BMCMQL0 |
| 0.34% | -- | ITT HOLDINGS LLC | 6.50% | 08/01/2029 | -- | $480,486.18 | 509,000 | BLC9L19 |
| 0.34% | -- | MOHEGAN TRIBAL GAMING AU | 8.00% | 02/01/2026 | -- | $480,203.92 | 486,000 | BMYW168 |
| 0.33% | -- | FREEDOM MORTGAGE HOLD | 9.25% | 02/01/2029 | -- | $473,796.77 | 456,000 | BNRPV83 |
| 0.33% | -- | LIFEPOINT HEALTH INC | 11.00% | 10/15/2030 | -- | $472,127.11 | 421,000 | BR1H4Z1 |
| 0.33% | -- | CITGO PETROLEUM CORP | 8.38% | 01/15/2029 | -- | $470,501.10 | 450,000 | BR53N25 |
| 0.33% | -- | PERMIAN RESOURC OPTG LLC | 7.00% | 01/15/2032 | -- | $468,486.45 | 450,000 | BP5JP78 |
| 0.33% | -- | COMPASS GROUP DIVERSIFIE | 5.25% | 04/15/2029 | -- | $467,413.31 | 482,000 | BMDB423 |
| 0.33% | -- | UNITED RENTALS NORTH AM | 6.13% | 03/15/2034 | -- | $465,493.77 | 454,000 | BS9C5X0 |
| 0.32% | -- | NCR VOYIX CORP | 5.13% | 04/15/2029 | -- | $459,348.81 | 476,000 | BL6KR10 |
| 0.32% | -- | WYNN RESORTS FINANCE LLC | 7.13% | 02/15/2031 | -- | $458,519.56 | 426,000 | BMZMHS1 |
| 0.32% | -- | SERVICE PROPERTIES TRUST | 8.63% | 11/15/2031 | -- | $453,107.34 | 420,000 | BMGC188 |
| 0.32% | -- | LCM INVESTMENTS HOLDINGS | 4.88% | 05/01/2029 | -- | $450,014.12 | 471,000 | BNM5Z19 |
| 0.31% | -- | ORGANON & CO/ORGANON FOR | 4.13% | 04/30/2028 | -- | $446,053.65 | 468,000 | BMV1LQ8 |
| 0.31% | -- | VITAL ENERGY INC | 7.88% | 04/15/2032 | -- | $443,504.49 | 451,000 | BSKP420 |
| 0.31% | -- | EG GLOBAL FINANCE PLC | 12.00% | 11/30/2028 | -- | $443,492.00 | 400,000 | BR1YSV6 |
| 0.31% | -- | ZAYO GROUP HOLDINGS INC | 6.13% | 03/01/2028 | -- | $443,003.75 | 514,000 | BLBQF75 |
| 0.31% | -- | ENDO FINANCE HOLDINGS | 8.50% | 04/15/2031 | -- | $440,649.13 | 411,000 | BPBRSM2 |
| 0.31% | -- | ALPHA GENERATION LLC CALLABLE NOTES FIXED 6.75% 15/OCT/2032 USD 1000 | -- | -- | -- | $439,721.49 | 435,000 | -- |
| 0.31% | -- | WR GRACE HOLDING LLC | 5.63% | 08/15/2029 | -- | $439,174.57 | 468,000 | BLDBLN6 |
| 0.31% | -- | PACTIV EVERGREEN GROUP | 4.00% | 10/15/2027 | -- | $437,502.26 | 455,000 | BJLTTQ7 |
| 0.31% | -- | EQUIPMENTSHARE.COM INC | 9.00% | 05/15/2028 | -- | $435,989.19 | 419,000 | BPLL6H5 |
| 0.31% | -- | BRIGHTLINE EAST LLC | 11.00% | 01/31/2030 | -- | $435,496.99 | 500,000 | BPGM651 |
| 0.30% | -- | BUILDERS FIRSTSOURCE INC | 6.38% | 03/01/2034 | -- | $434,174.35 | 421,000 | BMF9C65 |
| 0.30% | -- | VISTRA OPERATIONS CO LLC | 7.75% | 10/15/2031 | -- | $433,460.89 | 404,000 | BNQQSS6 |
| 0.30% | -- | USA COM PART/USA COM FIN | 7.13% | 03/15/2029 | -- | $430,056.46 | 419,000 | BM8SW92 |
| 0.30% | -- | GRAY TELEVISION INC | 5.38% | 11/15/2031 | -- | $430,008.90 | 708,000 | BM93J39 |
| 0.30% | -- | SCIH SALT HOLDINGS INC | 4.88% | 05/01/2028 | -- | $428,384.06 | 443,000 | BMHBB51 |
| 0.30% | -- | ALLIANT HOLD / CO-ISSUER | 6.75% | 10/15/2027 | -- | $427,284.02 | 430,000 | BJK69N6 |
| 0.30% | -- | UNITI GROUP/CSL CAPITAL | 6.50% | 02/15/2029 | -- | $424,965.49 | 490,000 | BMDHSY1 |
| 0.30% | -- | GRAY TELEVISION INC | 10.50% | 07/15/2029 | -- | $420,555.11 | 402,000 | BS88506 |
| 0.29% | -- | MPT OPER PARTNERSP/FINL | 3.50% | 03/15/2031 | -- | $417,001.50 | 572,000 | BMF4PW7 |
| 0.29% | -- | PETSMART INC/PETSMART FI | 4.75% | 02/15/2028 | -- | $414,947.80 | 438,000 | BMW5D63 |
| 0.29% | -- | MIDAS OPCO HOLDINGS LLC | 5.63% | 08/15/2029 | -- | $414,857.07 | 432,000 | BMY8TS4 |
| 0.29% | -- | COMMSCOPE LLC | 4.75% | 09/01/2029 | -- | $414,562.50 | 495,000 | BLDBLL4 |
| 0.29% | -- | PARAMOUNT GLOBAL | 6.38% | 03/30/2062 | -- | $408,163.13 | 442,000 | BMXHJH1 |
| 0.28% | -- | TRONOX INC | 4.63% | 03/15/2029 | -- | $400,281.48 | 432,000 | BNQPRV9 |
| 0.28% | -- | DELEK LOG PART/FINANCE | 8.63% | 03/15/2029 | -- | $400,122.77 | 381,000 | BRC2671 |
| 0.28% | -- | JEFFERIES FIN LLC / JFIN | 5.00% | 08/15/2028 | -- | $398,702.98 | 422,000 | BP83D39 |
| 0.28% | -- | MADISON IAQ LLC | 5.88% | 06/30/2029 | -- | $397,885.98 | 410,000 | BM9PWX6 |
| 0.28% | -- | ROCKETMTGE CO-ISSUER INC | 3.88% | 03/01/2031 | -- | $394,723.02 | 432,000 | BN7RYH9 |
| 0.28% | -- | ROYAL CARIBBEAN CRUISES LTD CALLABLE NOTES FIXED 5.625% 30/SEP/2031 USD 1000 | -- | -- | -- | $394,511.96 | 391,000 | -- |
| 0.28% | -- | RHP HOTEL PPTY/RHP FINAN | 6.50% | 04/01/2032 | -- | $393,177.70 | 382,000 | BRBDSH9 |
| 0.27% | -- | AMENTUM ESCROW CORP | 7.25% | 08/01/2032 | -- | $391,232.14 | 376,000 | BR2NN28 |
| 0.27% | -- | VISTAJET MALTA/VM HOLDS | 6.38% | 02/01/2030 | -- | $388,037.21 | 452,000 | BP4Z8H8 |
| 0.27% | -- | DARLING INGREDIENTS INC | 6.00% | 06/15/2030 | -- | $387,717.74 | 386,000 | BN95KZ1 |
| 0.27% | -- | HUSKY INJECTION / TITAN | 9.00% | 02/15/2029 | -- | $387,469.85 | 374,000 | BS7XRZ1 |
| 0.27% | -- | FERTITTA ENTERTAINMENT | 6.75% | 01/15/2030 | -- | $387,173.07 | 417,000 | BPLFC68 |
| 0.27% | -- | NEXSTAR MEDIA INC | 4.75% | 11/01/2028 | -- | $386,630.53 | 410,000 | BMFNGQ5 |
| 0.27% | -- | COINBASE GLOBAL INC | 3.38% | 10/01/2028 | -- | $386,009.97 | 434,000 | BN6KWY2 |
| 0.27% | -- | UNIVISION COMMUNICATIONS | 8.00% | 08/15/2028 | -- | $380,450.30 | 373,000 | BM8K1F7 |
| 0.27% | -- | ARDONAGH GROUP FINANCE | 8.88% | 02/15/2032 | -- | $379,403.87 | 367,000 | BMVXP62 |
| 0.26% | -- | MIDCAP FINANCIAL ISSR TR | 6.50% | 05/01/2028 | -- | $377,200.88 | 394,000 | BMBV4H0 |
| 0.26% | -- | NMG HOLDING CO INC / NEIMAN MARCUS GROUP LLC CALLABLE NOTES FIXED 8.5% 01/OCT/2028 USD 1 | -- | -- | -- | $376,356.60 | 370,000 | -- |
| 0.26% | -- | ARDAGH METAL PACKAGING | 4.00% | 09/01/2029 | -- | $376,243.99 | 424,000 | BNKLFF3 |
| 0.26% | -- | BALL CORP | 6.00% | 06/15/2029 | -- | $373,297.95 | 363,000 | BQB88K0 |
| 0.26% | -- | HOWDEN UK REFINANCE / US | 7.25% | 02/15/2031 | -- | $370,364.60 | 358,000 | BMCGQ56 |
| 0.25% | -- | SUNRISE FINCO I BV | 4.88% | 07/15/2031 | -- | $355,793.75 | 377,000 | BMT7QC9 |
| 0.24% | -- | CRESCENT ENERGY FINANCE LLC CALLABLE NOTES FIXED 7.375% 15/JAN/2033 USD 1000 | -- | -- | -- | $345,360.28 | 344,000 | -- |
| 0.24% | -- | SENSATA TECHNOLOGIES BV | 4.00% | 04/15/2029 | -- | $341,973.06 | 361,000 | BNKFMN2 |
| 0.24% | -- | NEWS CORP | 3.88% | 05/15/2029 | -- | $341,933.44 | 363,000 | BMV9PS2 |
| 0.24% | -- | ROCKETMTGE CO-ISSUER INC | 2.88% | 10/15/2026 | -- | $340,932.43 | 357,000 | BP815Z9 |
| 0.24% | -- | PERMIAN RESOURC OPTG LLC | 6.25% | 02/01/2033 | -- | $339,407.59 | 333,000 | BP091F3 |
| 0.24% | -- | RR DONNELLEY & SONS CO | 9.50% | 08/01/2029 | -- | $338,050.20 | 336,000 | BMC94W8 |
| 0.24% | -- | SBA COMMUNICATIONS CORP | 3.13% | 02/01/2029 | -- | $335,837.21 | 364,000 | BPVBYZ9 |
| 0.24% | -- | BALL CORP | 2.88% | 08/15/2030 | -- | $335,700.36 | 380,000 | BMG3813 |
| 0.23% | -- | FOCUS FINANCIAL PARTNERS LLC CALLABLE BOND FIXED 6.75% 15/SEP/2031 USD 1000 | -- | -- | -- | $333,030.53 | 332,000 | -- |
| 0.23% | -- | ROBLOX CORP | 3.88% | 05/01/2030 | -- | $331,606.84 | 360,000 | BNHW2C5 |
| 0.23% | -- | STANDARD INDUSTRIES INC | 3.38% | 01/15/2031 | -- | $330,947.51 | 374,000 | BMFNDV9 |
| 0.23% | -- | MICHAELS COS INC/THE | 7.88% | 05/01/2029 | -- | $324,111.37 | 523,000 | BN6JYJ8 |
| 0.23% | -- | SMYRNA READY MIX CONCRET | 6.00% | 11/01/2028 | -- | $322,127.83 | 322,000 | BMDXC58 |
| 0.22% | -- | SHIFT4 PAYMENTS LLC/FIN | 6.75% | 08/15/2032 | -- | $319,489.02 | 308,000 | BMZBL86 |
| 0.22% | -- | MPH ACQUISITION HOLDINGS | 5.50% | 09/01/2028 | -- | $317,510.68 | 435,000 | BMH8323 |
| 0.21% | -- | DAVITA INC | 3.75% | 02/15/2031 | -- | $304,109.09 | 340,000 | BMFBJQ0 |
| 0.20% | -- | PERFORMANCE FOOD GROUP INC CALLABLE NOTES FIXED 6.125% 15/SEP/2032 USD 1000 | -- | -- | -- | $282,514.44 | 278,000 | -- |
| 0.20% | -- | CMG MEDIA CORPORATION | 8.88% | 12/15/2027 | -- | $281,604.49 | 480,000 | BK7CY84 |
| 0.20% | -- | HERTZ CORP/THE | 5.00% | 12/01/2029 | -- | $278,777.58 | 429,000 | BP9LWV3 |
| 0.19% | -- | ARDAGH PKG FIN/HLDGS USA | 5.25% | 08/15/2027 | -- | $274,775.00 | 379,000 | BMW7N92 |
| 0.19% | -- | RADIATE HOLDCO / FINANCE | 6.50% | 09/15/2028 | -- | $269,222.82 | 401,000 | BM9TR00 |
| 0.18% | -- | KINETIK HOLDINGS LP | 5.88% | 06/15/2030 | -- | $257,321.47 | 256,000 | BQB7JV5 |
| 0.18% | -- | CALPINE CORP | 5.13% | 03/15/2028 | -- | $254,587.78 | 259,000 | BKZMMC6 |
| 0.17% | -- | HUB INTERNATIONAL LTD | 7.25% | 06/15/2030 | -- | $248,363.00 | 238,000 | BQKRVC1 |
| 0.17% | -- | ASTON MARTIN CAPITAL HOL | 10.00% | 03/31/2029 | -- | $245,514.41 | 253,000 | BRPT5J4 |
| 0.15% | -- | IRON MOUNTAIN INC | 5.25% | 07/15/2030 | -- | $207,004.38 | 211,000 | BL57W73 |
| 0.12% | -- | ALBERTSONS COS/SAFEWAY | 4.63% | 01/15/2027 | -- | $166,865.34 | 171,000 | BK0SQV6 |
| 0.11% | -- | CAESARS ENTERTAIN INC | 8.13% | 07/01/2027 | -- | $156,042.25 | 153,000 | BLFBXK5 |
| 0.10% | -- | YUM! BRANDS INC | 3.63% | 03/15/2031 | -- | $136,264.16 | 148,000 | BN7S9F5 |
| 0.09% | -- | CLEAR CHANNEL OUTDOOR HO | 7.75% | 04/15/2028 | -- | $133,450.33 | 151,000 | BM9NG16 |
| 0.09% | -- | MINERAL RESOURCES LTD | 9.25% | 10/01/2028 | -- | $122,272.49 | 115,000 | BQ2LP29 |
| 0.08% | -- | FORTRESS TRANS & INFRAST | 5.50% | 05/01/2028 | -- | $113,965.90 | 115,000 | BMD14K1 |
| 0.08% | -- | PRIME SECSRVC BRW/FINANC | 6.25% | 01/15/2028 | -- | $113,834.88 | 114,000 | BKVKXB0 |
| 0.07% | -- | YUM! BRANDS INC | 4.63% | 01/31/2032 | -- | $106,884.93 | 112,000 | BNW2059 |
| 0.07% | -- | SIRIUS XM RADIO INC | 3.88% | 09/01/2031 | -- | $101,595.43 | 118,000 | BM9SD09 |
| 0.06% | -- | TEGNA INC | 5.00% | 09/15/2029 | -- | $86,526.09 | 92,000 | BMXC0P1 |
| 0.05% | -- | SOUTHWESTERN ENERGY CO | 5.38% | 03/15/2030 | -- | $77,132.77 | 78,000 | BMDVV88 |
| -- | -- | WINDSTREAM ESCROW LLC / WINDSTREAM ESCROW FINANCE CORP BOND FIXED 7.75% 15/AUG/2028 USD | -- | -- | -- | $00.00 | 556 | -- |
| -- | -- | NET OTHER ASSETS (LIABILITIES) | -- | -- | -- | $7,571,151.10 | 7,571,151 | -- |
| -9.03% | -- | US 10YR NOTE (CBT) BOND 19/DEC/2024 TYZ4 COMDTY | -- | -- | -12,864,188 | -- | -114 | -- |
| -32.40% | -- | US 2YR NOTE (CBT) BOND 31/DEC/2024 TUZ4 COMDTY | -- | -- | -46,176,680 | -- | -223 | -- |
| -54.95% | -- | US 5YR NOTE (CBT) BOND 31/DEC/2024 FVZ4 COMDTY | -- | -- | -78,316,875 | -- | -720 | -- |
Index
as of 6/28/2024
- Total Number of Issues237
- Long Portfolio Duration3.57
- Net Effective Duration0.04
- Long Portfolio Yield8.06
- Net Index Yield9.14
About the Index
The index is comprised of (a) long positions in USD-denominated high yield corporate bonds ("high yield bonds") and (b) short positions in U.S. Treasury notes or bonds ("Treasury Securities") of, in aggregate, approximate equivalent duration. In entering these positions, the index seeks to achieve an overall effective duration of zero.
By taking such short positions, the index seeks to mitigate the potential negative impact of rising Treasury interest rates ("interest rates") on the performance of high yield bonds (conversely limiting the potential positive impact of falling interest rates). The short positions are not intended to mitigate other factors influencing the price of high yield bonds, such as credit risk, which may have a greater impact than rising or falling interest rates.
The long high yield corporate bond positions included in the index are designed to represent the more liquid universe of high yield bonds for sale within the United States. Currently, the bonds eligible for inclusion in the index include high yield bonds that are issued by companies domiciled in the U.S. and Canada, and that are: fixed rate (including callable bonds); have a maximum rating of Ba1/BB+ by both Moody's Investors Service, Inc. ("Moody's") and Standard and Poor's Financial Services, LLC ("S&P"); and are subject to minimum issue outstanding, minimum time to maturity and maximum time from issuance criteria. Pay-in-kind bonds (which allow issuers the option of paying bondholders interest in additional securities or cash) are excluded. No more than two issues from each issuer are allowed, and no more than 2% of the index is allocated to any single issuer.
The index is reconstituted and rebalanced (including a reset of the duration-equivalent short position in Treasury Securities) on a monthly basis.
Distributions
For
2024
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
| Ex-Dividend Date | Record Date | Payable Date | Dividend | Long-Term Capital Gain | Short-Term Capital Gain | Return of Capital |
|---|
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