HYHG
High Yield—Interest Rate Hedged
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.
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)
Performance
Growth of $10,000
Since Inception
Chart is updated nightly to reflect the more recent of the previous day's market closing price or the closing price on the day the fund was last traded.
Total Return
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| HYHG Market Price | -1.31% | 3.29% | 6.53% | -1.69% | -1.69% | 1.36% | 2.72% | -- | 2.24% | 05/21/2013 |
| HYHG NAV | -0.56% | 3.22% | 7.41% | -1.50% | -1.50% | 1.47% | 2.68% | -- | 2.24% | 05/21/2013 |
| FTSE High Yield (Treasury Rate-Hedged) Index | -0.89% | 2.63% | 7.11% | -2.03% | -2.03% | 1.58% | 3.02% | -- | 2.94% | -- |
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| HYHG Market Price | -1.31% | 3.29% | 6.53% | -1.69% | -1.69% | 1.36% | 2.72% | -- | 2.24% | 05/21/2013 |
| HYHG NAV | -0.56% | 3.22% | 7.41% | -1.50% | -1.50% | 1.47% | 2.68% | -- | 2.24% | 05/21/2013 |
| FTSE High Yield (Treasury Rate-Hedged) Index | -0.89% | 2.63% | 7.11% | -2.03% | -2.03% | 1.58% | 3.02% | -- | 2.94% | -- |
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
- Unitary Expense Ratio 0.50%*
- NAV Calculation Time 3:00 p.m. ET
- Distributions Monthly
Characteristics
as of 12/31/2022- Number of Companies 203
- Distribution Yield 6.25%
Distribution Yield represents the annualized yield based on the last income distribution.
- SEC 30-Day Yield 8.04%
SEC 30-Day Yield is a standard yield calculation developed by the Securities and Exchange Commission (SEC) that facilitates fairer comparisons of funds. The figure reflects dividends and interest earned by the securities held by the fund during the most recent 30-day period, net the fund's expenses.
- Weighted Average Yield to
Maturity 8.97% - Net Effective Duration -0.14%
Price
as of 2/03/2023- NAV $60.55
- NAV Change $-0.08
- Market Price $60.68
- Market Price Change $-0.24
- Trading Volume (M) 5,216
- 30-Day Median Bid Ask Spread 0.67%
- View Premium / Discount
Snapshot
- Ticker HYHG
- Intraday Ticker HYHG.IV
- CUSIP 74348A541
- Inception Date 5/21/13
- Unitary Expense Ratio 0.50%*
- NAV Calculation Time 3:00 p.m. ET
- Distributions Monthly
Characteristics
as of 12/31/2022- Number of Companies 203
- Distribution Yield 6.25%
Distribution Yield represents the annualized yield based on the last income distribution.
- SEC 30-Day Yield 8.04%
SEC 30-Day Yield is a standard yield calculation developed by the Securities and Exchange Commission (SEC) that facilitates fairer comparisons of funds. The figure reflects dividends and interest earned by the securities held by the fund during the most recent 30-day period, net the fund's expenses.
- Weighted Average Yield to Maturity 8.97%
- Net Effective Duration -0.14%
Price
as of 2/03/2023- NAV $60.55
- NAV Change $-0.08
- Market Price $60.68
- Market Price Change $-0.24
- Trading Volume (M) 5,216
- 30-Day Median Bid Ask Spread 0.67%
- View Premium / Discount
Exposures
Index as of 9/30/2022
Holdings
as of 2/03/2023
| Weight | Ticker | Description | Coupon Rate | Maturity Date | Exposure Value (Notional + GL) |
Market Value | Shares/Contracts | SEDOL Number |
|---|---|---|---|---|---|---|---|---|
| 1.78% | -- | ORGANON & CO/ORG | 4.13% | 04/30/2028 | -- | $2,236,865.00 | 2,438,000 | BMV1LQ8 |
| 1.68% | -- | DISH DBS CORP | 5.25% | 12/01/2026 | -- | $2,112,838.00 | 2,444,000 | BNRLYV5 |
| 1.36% | -- | AMERICAN AIRLINES/AADVAN | 5.50% | 04/20/2026 | -- | $1,709,937.21 | 1,739,000 | BM8H716 |
| 1.09% | -- | DIRECTV FIN LLC/COINC | 5.88% | 08/15/2027 | -- | $1,366,157.50 | 1,489,000 | BN765Z1 |
| 1.04% | -- | UNITED AIRLINES INC | 4.63% | 04/15/2029 | -- | $1,310,221.68 | 1,416,000 | BMG8788 |
| 1.02% | -- | CLOUD SOFTWARE GRP HOLDG | 6.50% | 03/31/2029 | -- | $1,285,626.14 | 1,431,000 | BN2QTP4 |
| 1.01% | -- | 1011778 BC / NEW RED FIN | 4.00% | 10/15/2030 | -- | $1,265,993.40 | 1,470,000 | BMT6QQ0 |
| 0.98% | -- | BOMBARDIER INC | 7.88% | 04/15/2027 | -- | $1,237,606.91 | 1,232,000 | BHL3S24 |
| 0.98% | -- | FRONTIER COMMUNICATIONS | 5.00% | 05/01/2028 | -- | $1,234,870.00 | 1,357,000 | BMF4PS3 |
| 0.96% | -- | TRANSDIGM INC | 6.25% | 03/15/2026 | -- | $1,209,049.49 | 1,207,000 | BJJQH22 |
| 0.96% | -- | CCO HLDGS LLC/CAP CORP | 4.25% | 02/01/2031 | -- | $1,202,333.16 | 1,428,000 | BN2R7D1 |
| 0.95% | -- | TENET HEALTHCARE CORP | 4.88% | 01/01/2026 | -- | $1,195,600.00 | 1,220,000 | BPVDS20 |
| 0.93% | -- | MEDLINE BORROWER LP | 3.88% | 04/01/2029 | -- | $1,164,140.28 | 1,338,000 | BMW4P42 |
| 0.92% | -- | ALTICE FRANCE SA | 5.13% | 07/15/2029 | -- | $1,153,917.50 | 1,429,000 | BM9V193 |
| 0.92% | -- | ALLIED UNIVERSAL | 6.63% | 07/15/2026 | -- | $1,152,667.28 | 1,185,000 | BJYCQ73 |
| 0.89% | -- | SS&C TECHNOLOGIES INC | 5.50% | 09/30/2027 | -- | $1,122,459.78 | 1,146,000 | BJQ1YJ6 |
| 0.88% | -- | SBA COMMUNICATIONS CORP | 3.13% | 02/01/2029 | -- | $1,103,916.05 | 1,297,000 | BPVBYZ9 |
| 0.88% | -- | UBER TECHNOLOGIES INC | 8.00% | 11/01/2026 | -- | $1,102,734.71 | 1,078,000 | BG87FX2 |
| 0.87% | -- | TRANSDIGM INC | 5.50% | 11/15/2027 | -- | $1,099,236.03 | 1,148,000 | BM9QGV5 |
| 0.87% | -- | CAESARS ENTERTAIN INC | 8.13% | 07/01/2027 | -- | $1,097,520.00 | 1,076,000 | BLFBXK5 |
| 0.84% | -- | CHS/COMMUNITY HEALTH SYS | 8.00% | 03/15/2026 | -- | $1,060,042.92 | 1,076,000 | BHL3S91 |
| 0.84% | -- | PETSMART INC/PETSMART FI | 4.75% | 02/15/2028 | -- | $1,052,891.51 | 1,128,000 | BMW5D63 |
| 0.83% | -- | FIRST QUANTUM MINERALS L | 6.88% | 10/15/2027 | -- | $1,047,093.75 | 1,095,000 | BMZRC58 |
| 0.83% | -- | CARNIVAL CORP | 5.75% | 03/01/2027 | -- | $1,044,915.52 | 1,243,000 | BMHYR18 |
| 0.82% | -- | MEDLINE BORROWER LP | 5.25% | 10/01/2029 | -- | $1,025,327.80 | 1,190,000 | BMWDGR9 |
| 0.82% | -- | CARNIVAL CORP | 4.00% | 08/01/2028 | -- | $1,025,136.80 | 1,174,000 | BMD9Z35 |
| 0.78% | -- | WESCO DISTRIBUTION INC | 7.13% | 06/15/2025 | -- | $977,043.93 | 962,000 | BMYMZS8 |
| 0.77% | -- | 1011778 BC / NEW RED FIN | 3.88% | 01/15/2028 | -- | $971,182.08 | 1,056,000 | BJJJT70 |
| 0.77% | -- | MSCI INC | 4.00% | 11/15/2029 | -- | $969,906.00 | 1,050,000 | BJVBH14 |
| 0.77% | -- | VMED O2 UK FINAN | 4.25% | 01/31/2031 | -- | $963,119.88 | 1,112,000 | BKVH9C4 |
| 0.76% | -- | STAPLES INC | 7.50% | 04/15/2026 | -- | $959,227.50 | 1,057,000 | BK0L4K0 |
| 0.75% | -- | DT MIDSTREAM INC | 4.38% | 06/15/2031 | -- | $946,579.14 | 1,073,000 | BLN9LB8 |
| 0.72% | -- | ICAHN ENTERPRISES/FIN | 6.25% | 05/15/2026 | -- | $910,949.29 | 921,000 | BJ11SH7 |
| 0.72% | -- | INTELSAT JACKSON HLDG | 6.50% | 03/15/2030 | -- | $910,490.00 | 1,000,000 | BNTY069 |
| 0.72% | -- | ROCKETMTGE CO-ISSUER INC | 3.88% | 03/01/2031 | -- | $905,851.83 | 1,092,000 | BN7RYH9 |
| 0.72% | -- | CCO HLDGS LLC/CAP CORP | 4.75% | 03/01/2030 | -- | $904,723.30 | 1,023,000 | BK6WV51 |
| 0.70% | -- | ZAYO GROUP HOLDINGS INC | 4.00% | 03/01/2027 | -- | $884,088.33 | 1,119,000 | BLBQFB9 |
| 0.70% | -- | PRIME SECSRVC BRW/FINANC | 5.75% | 04/15/2026 | -- | $876,377.50 | 883,000 | BJTRRK3 |
| 0.69% | -- | HILTON DOMESTIC OPERATIN | 3.63% | 02/15/2032 | -- | $871,243.71 | 1,024,000 | BKPJT48 |
| 0.69% | -- | DAVITA INC | 4.63% | 06/01/2030 | -- | $869,707.80 | 1,014,000 | BMW7NB4 |
| 0.67% | -- | FORD MOTOR COMPANY | 3.25% | 02/12/2032 | -- | $842,532.02 | 1,042,000 | BPJP107 |
| 0.67% | -- | CLARIOS GLOBAL LP/US FIN | 8.50% | 05/15/2027 | -- | $841,662.06 | 837,000 | BJ0M440 |
| 0.66% | -- | IRON MOUNTAIN INC | 4.50% | 02/15/2031 | -- | $828,315.00 | 948,000 | BMG1HP4 |
| 0.65% | -- | CLEAR CHANNEL OUTDOOR HO | 5.13% | 08/15/2027 | -- | $820,260.00 | 882,000 | BJ9NFT6 |
| 0.65% | -- | FORD MOTOR CREDIT CO LLC | 3.38% | 11/13/2025 | -- | $813,985.20 | 873,000 | BMWS436 |
| 0.65% | -- | UNITI GRP/UNITI HLD/CSL | 7.88% | 02/15/2025 | -- | $811,722.08 | 796,000 | BL6Z5M2 |
| 0.64% | -- | COMMSCOPE INC | 6.00% | 03/01/2026 | -- | $805,460.00 | 824,000 | BGDS1B0 |
| 0.64% | -- | ONEMAIN FINANCE CORP | 6.13% | 03/15/2024 | -- | $801,829.20 | 804,000 | BJKRP08 |
| 0.64% | -- | UNIVISION COMMUNICATIONS | 4.50% | 05/01/2029 | -- | $800,766.12 | 924,000 | BLBLP92 |
| 0.63% | -- | ALBERTSONS COS/SAFEWAY | 3.50% | 03/15/2029 | -- | $797,300.48 | 914,000 | BKPMPR2 |
| 0.62% | -- | IQVIA INC | 5.00% | 05/15/2027 | -- | $777,162.50 | 790,000 | BK62T46 |
| 0.62% | -- | POST HOLDINGS INC | 4.50% | 09/15/2031 | -- | $775,886.80 | 884,000 | BMZ9QV8 |
| 0.61% | -- | CSC HOLDINGS LLC | 5.75% | 01/15/2030 | -- | $766,697.96 | 1,185,000 | BKFH0Y9 |
| 0.61% | -- | CAESARS ENTERTAIN INC | 6.25% | 07/01/2025 | -- | $764,490.78 | 767,000 | BLFBXP0 |
| 0.61% | -- | NCL CORPORATION LTD | 5.88% | 03/15/2026 | -- | $763,157.14 | 871,000 | BMB5SR0 |
| 0.60% | -- | ATHENAHEALTH GROUP INC | 6.50% | 02/15/2030 | -- | $759,783.95 | 914,000 | BN7SNC0 |
| 0.59% | -- | CALPINE CORP | 4.50% | 02/15/2028 | -- | $741,528.29 | 796,000 | BJVS9S6 |
| 0.58% | -- | TENET HEALTHCARE CORP | 6.13% | 10/01/2028 | -- | $734,588.88 | 772,000 | BPVDS42 |
| 0.58% | -- | CARVANA CO | 10.25% | 05/01/2030 | -- | $733,572.79 | 1,371,000 | BNM2662 |
| 0.58% | -- | AMERICAN AIRLINES/AADVAN | 5.75% | 04/20/2029 | -- | $728,780.48 | 745,000 | BM8H783 |
| 0.58% | -- | MCAFEE CORP | 7.38% | 02/15/2030 | -- | $726,246.23 | 858,000 | BNNPV76 |
| 0.58% | -- | NGL ENRGY OP/FIN CORP | 7.50% | 02/01/2026 | -- | $726,217.01 | 762,000 | BL5C524 |
| 0.57% | -- | SIRIUS XM RADIO INC | 4.00% | 07/15/2028 | -- | $719,736.48 | 816,000 | BMBJVY0 |
| 0.56% | -- | SOUTHWESTERN ENERGY CO | 4.75% | 02/01/2032 | -- | $702,840.72 | 804,000 | BMH4406 |
| 0.56% | -- | WEATHERFORD INTERNATIONA | 8.63% | 04/30/2030 | -- | $699,001.78 | 691,000 | BNRPC80 |
| 0.56% | -- | TEGNA INC | 4.63% | 03/15/2028 | -- | $698,911.50 | 735,000 | BNTBJ41 |
| 0.55% | -- | BLOCK INC | 2.75% | 06/01/2026 | -- | $686,351.88 | 733,000 | BMX4FJ6 |
| 0.54% | -- | HUB INTERNATIONAL LTD | 7.00% | 05/01/2026 | -- | $684,225.95 | 685,000 | BFXTLW7 |
| 0.53% | -- | LEVEL 3 FINANCING INC | 4.25% | 07/01/2028 | -- | $662,962.82 | 817,000 | BMTR5N3 |
| 0.52% | -- | OCCIDENTAL PETROLEUM COR | 6.45% | 09/15/2036 | -- | $655,852.50 | 618,000 | BK8VN61 |
| 0.51% | -- | NFP CORP | 6.88% | 08/15/2028 | -- | $645,685.04 | 728,000 | BLD6JG0 |
| 0.51% | -- | ROYAL CARIBBEAN CRUISES | 5.50% | 04/01/2028 | -- | $637,910.50 | 730,000 | BN486D5 |
| 0.51% | -- | TK ELEVATOR US NEWCO INC | 5.25% | 07/15/2027 | -- | $636,727.80 | 674,000 | BMC7DR0 |
| 0.50% | -- | FERTITTA ENTERTAINMENT | 6.75% | 01/15/2030 | -- | $627,144.96 | 739,000 | BPLFC68 |
| 0.49% | -- | PG&E CORP | 5.25% | 07/01/2030 | -- | $621,909.12 | 672,000 | BLCC408 |
| 0.49% | -- | IMOLA MERGER CORP | 4.75% | 05/15/2029 | -- | $613,796.33 | 703,000 | BJNPGH3 |
| 0.49% | -- | CHART INDUSTRIES INC | 7.50% | 01/01/2030 | -- | $610,292.08 | 596,000 | BLC8Z03 |
| 0.48% | -- | VISTRA OPERATIONS CO LLC | 5.63% | 02/15/2027 | -- | $607,326.75 | 625,000 | BHQTTK2 |
| 0.48% | -- | MPH ACQUISITION HOLDINGS | 5.75% | 11/01/2028 | -- | $602,560.07 | 791,000 | BN2B8J6 |
| 0.48% | -- | COINBASE GLOBAL INC | 3.63% | 10/01/2031 | -- | $601,628.72 | 967,000 | BN6KWX1 |
| 0.48% | -- | NEPTUNE BIDCO US INC | 9.29% | 04/15/2029 | -- | $599,071.00 | 605,000 | BQKN5B6 |
| 0.47% | -- | NEW FORTRESS ENERGY INC | 6.50% | 09/30/2026 | -- | $593,812.26 | 637,000 | BP0X973 |
| 0.47% | -- | UPC BROADBAND FINCO BV | 4.88% | 07/15/2031 | -- | $593,227.84 | 674,000 | BMT7QC9 |
| 0.47% | -- | OCCIDENTAL PETROLEUM COR | 6.63% | 09/01/2030 | -- | $593,157.12 | 552,000 | BKSGZP9 |
| 0.46% | -- | MSCI INC | 3.88% | 02/15/2031 | -- | $580,659.84 | 648,000 | BM9PSB6 |
| 0.46% | -- | NOVELIS CORP | 4.75% | 01/30/2030 | -- | $575,153.28 | 624,000 | BKLPSC1 |
| 0.46% | -- | PERFORMANCE FOOD GROUP I | 5.50% | 10/15/2027 | -- | $573,242.36 | 591,000 | BKWG6T6 |
| 0.45% | -- | TULLOW OIL PLC | 10.25% | 05/15/2026 | -- | $566,775.00 | 660,000 | BKPGFV8 |
| 0.45% | -- | VERICAST CORP | 11.00% | 09/15/2026 | -- | $566,370.00 | 522,000 | BP96BJ9 |
| 0.44% | -- | DAVITA INC | 3.75% | 02/15/2031 | -- | $551,386.20 | 687,000 | BMFBJQ0 |
| 0.43% | -- | VENTURE GLOBAL CALCASIEU | 4.13% | 08/15/2031 | -- | $544,467.00 | 611,000 | BMY9R27 |
| 0.43% | -- | WR GRACE HOLDING LLC | 5.63% | 08/15/2029 | -- | $542,771.25 | 651,000 | BLDBLN6 |
| 0.43% | -- | CQP HOLDCO LP/BIP-V CHIN | 5.50% | 06/15/2031 | -- | $541,507.50 | 587,000 | BM8H4Y8 |
| 0.43% | -- | ARDAGH PKG FIN/HLDGS USA | 4.13% | 08/15/2026 | -- | $535,795.02 | 579,000 | BK5HL35 |
| 0.42% | -- | DISH NETWORK CORP CALLABLE NOTES FIXED 11.75% 15/NOV/2027 USD 1000 | -- | -- | -- | $523,750.00 | 500,000 | -- |
| 0.42% | -- | ALLIANT HOLD / CO-ISSUER | 6.75% | 10/15/2027 | -- | $523,231.22 | 553,000 | BJK69N6 |
| 0.41% | -- | COMPASS GROUP DIVERSIFIE | 5.25% | 04/15/2029 | -- | $511,877.81 | 558,000 | BMDB423 |
| 0.40% | -- | NEXSTAR MEDIA INC | 4.75% | 11/01/2028 | -- | $507,525.36 | 552,000 | BMFNGQ5 |
| 0.40% | -- | HERC HOLDINGS INC | 5.50% | 07/15/2027 | -- | $505,544.00 | 520,000 | BHWTW85 |
| 0.40% | -- | IHEARTCOMMUNICATIONS INC | 8.38% | 05/01/2027 | -- | $503,261.28 | 548,000 | BK0NK86 |
| 0.40% | -- | NRG ENERGY INC | 3.88% | 02/15/2032 | -- | $500,055.00 | 629,000 | BNSNQY7 |
| 0.40% | -- | ROYAL CARIBBEAN CRUISES | 11.50% | 06/01/2025 | -- | $497,640.00 | 464,000 | BMFMWD1 |
| 0.39% | -- | POST HOLDINGS INC | 4.63% | 04/15/2030 | -- | $494,570.00 | 548,000 | BLCF601 |
| 0.39% | -- | LIFEPT/LEGACY LIFEPT | 9.75% | 12/01/2026 | -- | $491,303.95 | 548,000 | BGYDGW0 |
| 0.39% | -- | HAWAIIAN BRAND INTELLECT | 5.75% | 01/20/2026 | -- | $489,880.37 | 518,000 | BMGWDD7 |
| 0.39% | -- | US FOODS INC | 6.25% | 04/15/2025 | -- | $487,570.56 | 488,000 | BL6FPX3 |
| 0.39% | -- | NEXSTAR MEDIA INC | 5.63% | 07/15/2027 | -- | $486,451.30 | 503,000 | BJXR8L7 |
| 0.38% | -- | SPIRIT AEROSYSTEMS INC | 7.50% | 04/15/2025 | -- | $480,000.00 | 480,000 | BMCQ6D4 |
| 0.38% | -- | ASTON MARTIN CAPITAL HOL | 10.50% | 11/30/2025 | -- | $478,526.49 | 483,000 | BMHV2Z8 |
| 0.38% | -- | ILIAD HOLDING SAS | 6.50% | 10/15/2026 | -- | $477,919.76 | 491,000 | BLCW8V7 |
| 0.38% | -- | CDI ESCROW ISSUER INC | 5.75% | 04/01/2030 | -- | $477,755.00 | 500,000 | BPP2DX9 |
| 0.38% | -- | BUILDERS FIRSTSOURCE INC | 4.25% | 02/01/2032 | -- | $477,481.19 | 541,000 | BMD9BZ9 |
| 0.38% | -- | LIVE NATION ENTERTAINMEN | 6.50% | 05/15/2027 | -- | $474,279.82 | 470,000 | BMFKW46 |
| 0.37% | -- | BAUSCH HEALTH COS INC | 11.00% | 09/30/2028 | -- | $471,212.16 | 608,000 | BNBTNV8 |
| 0.37% | -- | CHS/COMMUNITY HEALTH SYS | 5.63% | 03/15/2027 | -- | $468,625.89 | 516,000 | BNNTB78 |
| 0.37% | -- | PACTIV EVERGREEN GROUP | 4.00% | 10/15/2027 | -- | $464,737.50 | 510,000 | BJLTTQ7 |
| 0.37% | -- | SELECT MEDICAL CORP | 6.25% | 08/15/2026 | -- | $461,965.00 | 469,000 | BKPHQM9 |
| 0.37% | -- | AIR CANADA | 3.88% | 08/15/2026 | -- | $460,358.55 | 494,000 | BNNNHG1 |
| 0.37% | -- | MIDAS OPCO HOLDINGS LLC | 5.63% | 08/15/2029 | -- | $459,460.82 | 518,000 | BMY8TS4 |
| 0.36% | -- | BATH & BODY WORKS INC | 6.63% | 10/01/2030 | -- | $458,116.48 | 464,000 | BMH1559 |
| 0.36% | -- | TRIVIUM PACKAGING FIN | 5.50% | 08/15/2026 | -- | $454,157.50 | 467,000 | BK0YKJ0 |
| 0.36% | -- | H&E EQUIPMENT SERVICES | 3.88% | 12/15/2028 | -- | $452,987.10 | 510,000 | BLSN159 |
| 0.36% | -- | CEDAR FAIR/CAN/MAGNUM/MI | 5.50% | 05/01/2025 | -- | $452,274.55 | 455,000 | BMTRDY0 |
| 0.36% | -- | SENSATA TECHNOLOGIES BV | 4.00% | 04/15/2029 | -- | $447,386.10 | 489,000 | BNKFMN2 |
| 0.35% | -- | ITT HOLDINGS LLC | 6.50% | 08/01/2029 | -- | $444,677.67 | 509,000 | BLC9L19 |
| 0.35% | -- | STANDARD INDUSTRIES INC | 3.38% | 01/15/2031 | -- | $442,301.35 | 554,000 | BMFNDV9 |
| 0.35% | -- | MOHEGAN TRIBAL GAMING AU | 8.00% | 02/01/2026 | -- | $438,498.04 | 463,000 | BMYW168 |
| 0.34% | -- | UNITI GROUP/CSL CAPITAL | 6.50% | 02/15/2029 | -- | $433,500.00 | 600,000 | BMDHSY1 |
| 0.34% | -- | DARLING INGREDIENTS INC | 6.00% | 06/15/2030 | -- | $433,233.99 | 434,000 | BN95KZ1 |
| 0.34% | -- | CITGO PETROLEUM CORP | 7.00% | 06/15/2025 | -- | $429,147.04 | 428,000 | BM9SDG5 |
| 0.34% | -- | ROLLS-ROYCE PLC | 5.75% | 10/15/2027 | -- | $425,008.44 | 436,000 | BMHLZ37 |
| 0.34% | -- | NCR CORP | 5.13% | 04/15/2029 | -- | $421,689.26 | 476,000 | BL6KR10 |
| 0.33% | -- | VERSCEND ESCROW CORP | 9.75% | 08/15/2026 | -- | $419,045.00 | 418,000 | BD0BPV9 |
| 0.33% | -- | NEWS CORP | 3.88% | 05/15/2029 | -- | $418,531.85 | 463,000 | BMV9PS2 |
| 0.33% | -- | CLYDESDALE ACQUISITION | 8.75% | 04/15/2030 | -- | $417,442.62 | 457,000 | BQ3QRD8 |
| 0.33% | -- | FORTRESS TRANS & INFRAST | 5.50% | 05/01/2028 | -- | $414,963.75 | 463,000 | BMD14K1 |
| 0.33% | -- | WINDSTREAM ESCROW LLC | 7.75% | 08/15/2028 | -- | $413,752.50 | 497,000 | BMH17V9 |
| 0.32% | -- | SIRIUS XM RADIO INC | 3.88% | 09/01/2031 | -- | $408,175.00 | 500,000 | BM9SD09 |
| 0.32% | -- | COMSTOCK RESOURCES INC | 6.75% | 03/01/2029 | -- | $407,467.50 | 449,000 | BMW2W01 |
| 0.32% | -- | GENESIS ENERGY LP/FIN | 8.00% | 01/15/2027 | -- | $406,302.36 | 410,000 | BN717J4 |
| 0.32% | -- | NEW FORTRESS ENERGY INC | 6.75% | 09/15/2025 | -- | $406,101.15 | 423,000 | BNGFXX3 |
| 0.32% | -- | REALOGY GROUP/CO-ISSUER | 5.25% | 04/15/2030 | -- | $404,829.36 | 524,000 | BP82M40 |
| 0.32% | -- | VIRGIN MEDIA SECURED FIN | 5.50% | 05/15/2029 | -- | $400,853.84 | 423,000 | BJDQX75 |
| 0.32% | -- | SMYRNA READY MIX CONCRET | 6.00% | 11/01/2028 | -- | $397,530.13 | 425,000 | BMDXC58 |
| 0.32% | -- | ROBLOX CORP | 3.88% | 05/01/2030 | -- | $396,165.00 | 462,000 | BNHW2C5 |
| 0.31% | -- | KINETIK HOLDINGS LP | 5.88% | 06/15/2030 | -- | $394,325.70 | 410,000 | BQB7JV5 |
| 0.31% | -- | VZ SECURED FINANCING BV | 5.00% | 01/15/2032 | -- | $394,230.90 | 454,000 | BM94BT2 |
| 0.31% | -- | SCIH SALT HOLDINGS INC | 4.88% | 05/01/2028 | -- | $393,277.68 | 443,000 | BMHBB51 |
| 0.31% | -- | HERTZ CORP/THE | 5.00% | 12/01/2029 | -- | $393,120.00 | 468,000 | BP9LWV3 |
| 0.31% | -- | ALLISON TRANSMISSION INC | 3.75% | 01/30/2031 | -- | $390,115.00 | 451,000 | BMX50K5 |
| 0.31% | -- | ONEMAIN FINANCE CORP | 7.13% | 03/15/2026 | -- | $389,750.85 | 388,000 | BDTMS47 |
| 0.31% | -- | VISTRA CORP | 5.00% | 07/31/2027 | -- | $385,980.14 | 406,000 | BHRH886 |
| 0.30% | -- | MATADOR RESOURCES CO | 5.88% | 09/15/2026 | -- | $376,237.50 | 381,000 | BJ1MZM4 |
| 0.30% | -- | TRONOX INC | 4.63% | 03/15/2029 | -- | $375,840.00 | 432,000 | BNQPRV9 |
| 0.30% | -- | CALPINE CORP | 5.13% | 03/15/2028 | -- | $372,556.18 | 405,000 | BKZMMC6 |
| 0.29% | -- | BALL CORP | 2.88% | 08/15/2030 | -- | $370,740.00 | 444,000 | BMG3813 |
| 0.29% | -- | AVANTOR FUNDING INC | 4.63% | 07/15/2028 | -- | $367,197.21 | 387,000 | BMVVY70 |
| 0.29% | -- | CSC HOLDINGS LLC | 4.63% | 12/01/2030 | -- | $361,154.79 | 593,000 | BM9M1M9 |
| 0.28% | -- | GRAY ESCROW II INC | 5.38% | 11/15/2031 | -- | $355,876.68 | 458,000 | BM93J39 |
| 0.28% | -- | ARDAGH METAL PACKAGING | 4.00% | 09/01/2029 | -- | $355,015.20 | 424,000 | BNKLFF3 |
| 0.28% | -- | JEFFERIES FIN LLC / JFIN | 5.00% | 08/15/2028 | -- | $353,999.41 | 416,000 | BP83D39 |
| 0.28% | -- | MADISON IAQ LLC | 5.88% | 06/30/2029 | -- | $353,507.76 | 432,000 | BM9PWX6 |
| 0.28% | -- | EQM MIDSTREAM PARTNERS L | 4.75% | 01/15/2031 | -- | $349,002.50 | 407,000 | BMD50V6 |
| 0.28% | -- | MIDCAP FINANCIAL ISSR TR | 6.50% | 05/01/2028 | -- | $347,777.80 | 394,000 | BMBV4H0 |
| 0.28% | -- | LCM INVESTMENTS HOLDINGS | 4.88% | 05/01/2029 | -- | $346,136.26 | 415,000 | BNM5Z19 |
| 0.27% | -- | NMG HLDCO/NEIMAN MARCUS | 7.13% | 04/01/2026 | -- | $340,806.42 | 354,000 | BNRLH72 |
| 0.27% | -- | MICHAELS COS INC/THE | 7.88% | 05/01/2029 | -- | $334,019.84 | 423,000 | BN6JYJ8 |
| 0.26% | -- | LIONS GATE CAPITAL HOLD | 5.50% | 04/15/2029 | -- | $330,672.00 | 498,000 | BMWX2S2 |
| 0.25% | -- | BAUSCH HEALTH COS INC | 4.88% | 06/01/2028 | -- | $313,677.50 | 500,000 | BLB14D9 |
| 0.24% | -- | UNITED AIRLINES INC | 4.38% | 04/15/2026 | -- | $307,814.28 | 321,000 | BMG8799 |
| 0.24% | -- | TRANSOCEAN INC CALLABLE NOTES FIXED 8.75% 15/FEB/2030 USD 1000 | -- | -- | -- | $298,080.00 | 288,000 | -- |
| 0.24% | -- | VISTAJET MALTA/XO MGMT | 6.38% | 02/01/2030 | -- | $295,839.38 | 325,000 | BP4Z8H8 |
| 0.23% | -- | AVAYA INC | 6.13% | 09/15/2028 | -- | $289,606.80 | 966,000 | BM9TQX6 |
| 0.22% | -- | VERITAS US INC/BERMUDA L | 7.50% | 09/01/2025 | -- | $280,924.35 | 420,000 | BL6B0F8 |
| 0.22% | -- | AMC NETWORKS INC | 4.25% | 02/15/2029 | -- | $271,920.00 | 440,000 | BLCHH93 |
| 0.21% | -- | CMG MEDIA CORPORATION | 8.88% | 12/15/2027 | -- | $269,923.42 | 338,000 | BK7CY84 |
| 0.21% | -- | ALTICE FRANCE SA | 5.50% | 10/15/2029 | -- | $269,780.00 | 328,000 | BMXJSV4 |
| 0.21% | -- | HILTON DOMESTIC OPERATIN | 4.00% | 05/01/2031 | -- | $259,222.96 | 293,000 | BNDLGZ7 |
| 0.19% | -- | STANDARD INDUSTRIES INC | 4.38% | 07/15/2030 | -- | $242,080.10 | 281,000 | BMYXXP4 |
| 0.19% | -- | WESCO DISTRIBUTION INC | 7.25% | 06/15/2028 | -- | $236,688.51 | 228,000 | BMYMZT9 |
| 0.19% | -- | PERFORMANCE FOOD GROUP I | 4.25% | 08/01/2029 | -- | $233,843.76 | 260,000 | BNHT925 |
| 0.18% | -- | UNIVISION COMMUNICATIONS | 6.63% | 06/01/2027 | -- | $222,252.48 | 226,000 | BMG68Y5 |
| 0.17% | -- | VENTURE GLOBAL CALCASIEU | 3.88% | 11/01/2033 | -- | $211,251.60 | 249,000 | BP9SCV4 |
| 0.16% | -- | ALBERTSONS COS/SAFEWAY | 4.63% | 01/15/2027 | -- | $200,640.00 | 209,000 | BK0SQV6 |
| 0.15% | -- | RADIATE HOLDCO / FINANCE | 6.50% | 09/15/2028 | -- | $184,390.66 | 349,000 | BM9TR00 |
| 0.14% | -- | PETSMART INC/PETSMART FI | 7.75% | 02/15/2029 | -- | $181,661.92 | 182,000 | BMTN6F0 |
| 0.14% | -- | COMMSCOPE INC | 4.75% | 09/01/2029 | -- | $180,573.20 | 214,000 | BLDBLL4 |
| 0.11% | -- | CLEAR CHANNEL OUTDOOR HO | 7.50% | 06/01/2029 | -- | $142,410.16 | 168,000 | BNHS096 |
| 0.11% | -- | NRG ENERGY INC | 3.63% | 02/15/2031 | -- | $140,303.00 | 173,000 | BNM51T9 |
| 0.11% | -- | SOUTHWESTERN ENERGY CO | 5.38% | 03/15/2030 | -- | $138,920.00 | 151,000 | BMDVV88 |
| 0.11% | -- | RAKUTEN GROUP INC | 6.25% | -- | -- | $137,022.06 | 167,000 | BP2FD31 |
| 0.09% | -- | IRON MOUNTAIN INC | 5.25% | 07/15/2030 | -- | $107,932.50 | 117,000 | BL57W73 |
| 0.08% | -- | STAPLES INC | 10.75% | 04/15/2027 | -- | $97,575.29 | 123,000 | BK0L4Q6 |
| 0.07% | -- | TEGNA INC | 5.00% | 09/15/2029 | -- | $86,738.14 | 92,000 | BMXC0P1 |
| 0.06% | -- | VMED O2 UK FINAN | 4.75% | 07/15/2031 | -- | $74,936.96 | 86,000 | BP7LR98 |
| 0.05% | -- | ICAHN ENTERPRISES/FIN | 5.25% | 05/15/2027 | -- | $65,756.31 | 69,000 | BLGSGV7 |
| 0.05% | -- | PG&E CORP | 5.00% | 07/01/2028 | -- | $60,008.80 | 64,000 | BLCC3Z6 |
| 0.04% | -- | DIAMOND SPORTS GR/DIAMON | 6.63% | 08/15/2027 | -- | $51,950.00 | 2,078,000 | BKKGCN4 |
| 0.03% | -- | BLOCK INC CALLABLE NOTES FIXED 3.5% 01/JUN/2031 USD 1000 | -- | -- | -- | $42,489.91 | 50,000 | -- |
| 0.02% | -- | ZAYO GROUP HOLDINGS INC | 6.13% | 03/01/2028 | -- | $26,220.00 | 38,000 | BLBQF75 |
| 0.02% | -- | SBA COMMUNICATIONS CORP | 3.88% | 02/15/2027 | -- | $24,256.79 | 26,000 | BNBTL14 |
| 0.01% | -- | YUM! BRANDS INC | 3.63% | 03/15/2031 | -- | $15,773.31 | 18,000 | BN7S9F5 |
| 0.01% | -- | DIAMOND SPORTS GR/DIAMON | 5.38% | 08/15/2026 | -- | $13,230.00 | 168,000 | BMBTSG1 |
| 0.01% | -- | ARAMARK SERVICES INC | 6.38% | 05/01/2025 | -- | $11,068.64 | 11,000 | BMXPRX7 |
| -- | -- | FERTITTA ENTERTAINMENT | 4.63% | 01/15/2029 | -- | $3,579.52 | 4,000 | BMH29D8 |
| -- | -- | ORGANON & CO/ORG | 5.13% | 04/30/2031 | -- | $2,722.50 | 3,000 | BMV1L02 |
| -- | -- | NET OTHER ASSETS (LIABILITIES) | -- | -- | -- | $5,679,893.21 | 5,679,893 | -- |
| -15.52% | -- | US 2YR NOTE (CBT) BOND 31/MAR/2023 TUH3 COMDTY | -- | -- | -19,505,430 | -- | -95 | -- |
| -33.77% | -- | US 10YR NOTE (CBT) BOND 22/MAR/2023 TYH3 COMDTY | -- | -- | -42,450,516 | -- | -371 | -- |
| -44.78% | -- | US 5YR NOTE (CBT) BOND 31/MAR/2023 FVH3 COMDTY | -- | -- | -56,288,344 | -- | -516 | -- |
Index
as of 9/30/2022
- Total Number of Issues224
- Long Portfolio Duration4.52
- Net Effective Duration0.61
- Long Portfolio Yield9.50
- Net Index Yield8.67
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
- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
| Ex-Dividend Date | Record Date | Payable Date | Dividend | Long-Term Capital Gain | Short-Term Capital Gain | Return of Capital |
|---|