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 | -1.28% | -3.06% | -2.91% | -4.44% | -2.86% | 1.75% | 2.42% | -- | 2.01% | 05/21/2013 |
| HYHG NAV | -0.60% | -2.48% | -2.19% | -3.96% | -2.34% | 1.87% | 2.53% | -- | 2.04% | 05/21/2013 |
| FTSE High Yield (Treasury Rate-Hedged) Index | -0.53% | -1.87% | -1.67% | -3.65% | -1.65% | 2.27% | 3.10% | -- | 2.86% | -- |
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| HYHG Market Price | -6.38% | -7.89% | -7.71% | -7.71% | -5.88% | 0.29% | 1.70% | -- | 1.66% | 05/21/2013 |
| HYHG NAV | -6.88% | -8.59% | -8.30% | -8.30% | -6.47% | 0.11% | 1.58% | -- | 1.57% | 05/21/2013 |
| FTSE High Yield (Treasury Rate-Hedged) Index | -6.85% | -8.63% | -8.53% | -8.53% | -6.27% | 0.35% | 2.07% | -- | 2.33% | -- |
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 8/31/2022- Distribution Yield 5.22%
Distribution Yield represents the annualized yield based on the last income distribution.
- SEC 30-Day Yield 7.22%
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 8.20% - Net Effective Duration -0.09%
Price
as of 9/23/2022- NAV $58.34
- NAV Change $-0.56
- Market Price $0.00
- Market Price Change $0.00
- Trading Volume (M) 0
- 30-Day Median Bid Ask Spread 0.84%
- 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 8/31/2022- Distribution Yield 5.22%
Distribution Yield represents the annualized yield based on the last income distribution.
- SEC 30-Day Yield 7.22%
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 8.20%
- Net Effective Duration -0.09%
Price
as of 9/23/2022- NAV $58.34
- NAV Change $-0.56
- Market Price $0.00
- Market Price Change $0.00
- Trading Volume (M) 0
- 30-Day Median Bid Ask Spread 0.84%
- View Premium / Discount
Exposures
Index as of 6/30/2022
Holdings
as of 9/23/2022
| Weight | Ticker | Description | Coupon Rate | Maturity Date | Exposure Value (Notional + GL) |
Market Value | Shares/Contracts | SEDOL Number |
|---|---|---|---|---|---|---|---|---|
| 1.46% | -- | AMERICAN AIRLINES/AADVAN | 5.50% | 04/20/2026 | -- | $1,957,572.50 | 2,077,000 | BM8H716 |
| 1.34% | -- | ORGANON & CO/ORG | 4.13% | 04/30/2028 | -- | $1,792,713.04 | 2,088,000 | BMV1LQ8 |
| 1.19% | -- | DISH DBS CORP | 5.25% | 12/01/2026 | -- | $1,600,398.00 | 1,944,000 | BNRLYV5 |
| 1.18% | -- | 1011778 BC / NEW RED FIN | 4.00% | 10/15/2030 | -- | $1,586,332.77 | 2,001,000 | BMT6QQ0 |
| 1.09% | -- | TRANSDIGM INC | 6.25% | 03/15/2026 | -- | $1,457,133.37 | 1,507,000 | BJJQH22 |
| 0.96% | -- | ALLIED UNIVERSAL | 6.63% | 07/15/2026 | -- | $1,282,574.15 | 1,430,000 | BJYCQ73 |
| 0.93% | -- | TENET HEALTHCARE CORP | 4.88% | 01/01/2026 | -- | $1,252,157.20 | 1,348,000 | BKFV9N3 |
| 0.93% | -- | TEGNA INC | 4.63% | 03/15/2028 | -- | $1,244,279.88 | 1,358,000 | BNTBJ41 |
| 0.92% | -- | DT MIDSTREAM INC | 4.38% | 06/15/2031 | -- | $1,239,975.00 | 1,503,000 | BLN9LB8 |
| 0.92% | -- | TWITTER INC | 5.00% | 03/01/2030 | -- | $1,232,172.68 | 1,294,000 | BKY5M60 |
| 0.91% | -- | BOMBARDIER INC | 7.88% | 04/15/2027 | -- | $1,221,937.50 | 1,330,000 | BHL3S24 |
| 0.89% | -- | UNITED AIRLINES INC | 4.63% | 04/15/2029 | -- | $1,194,587.16 | 1,416,000 | BMG8788 |
| 0.88% | -- | CARVANA CO | 10.25% | 05/01/2030 | -- | $1,177,837.76 | 1,616,000 | BNM2662 |
| 0.87% | -- | FRONTIER COMMUNICATIONS | 5.00% | 05/01/2028 | -- | $1,167,020.00 | 1,357,000 | BMF4PS3 |
| 0.87% | -- | CAESARS ENTERTAIN INC | 8.13% | 07/01/2027 | -- | $1,163,662.50 | 1,209,000 | BLFBXK5 |
| 0.86% | -- | DIRECTV FIN LLC/COINC | 5.88% | 08/15/2027 | -- | $1,159,098.24 | 1,321,000 | BN765Z1 |
| 0.84% | -- | ZAYO GROUP HOLDINGS INC | 4.00% | 03/01/2027 | -- | $1,124,246.63 | 1,395,000 | BLBQFB9 |
| 0.83% | -- | CCO HLDGS LLC/CAP CORP | 4.25% | 02/01/2031 | -- | $1,113,840.00 | 1,428,000 | BN2R7D1 |
| 0.82% | -- | MEDLINE BORROWER LP | 3.88% | 04/01/2029 | -- | $1,107,165.80 | 1,354,000 | BMW4P42 |
| 0.82% | -- | STAPLES INC | 7.50% | 04/15/2026 | -- | $1,104,415.00 | 1,307,000 | BK0L4K0 |
| 0.82% | -- | MEDLINE BORROWER LP | 5.25% | 10/01/2029 | -- | $1,094,478.31 | 1,402,000 | BMWDGR9 |
| 0.81% | -- | UBER TECHNOLOGIES INC | 8.00% | 11/01/2026 | -- | $1,081,115.42 | 1,078,000 | BG87FX2 |
| 0.78% | -- | CARNIVAL CORP | 5.75% | 03/01/2027 | -- | $1,053,492.22 | 1,367,000 | BMHYR18 |
| 0.78% | -- | SS&C TECHNOLOGIES INC | 5.50% | 09/30/2027 | -- | $1,050,423.60 | 1,146,000 | BJQ1YJ6 |
| 0.78% | -- | HILTON DOMESTIC OPERATIN | 3.63% | 02/15/2032 | -- | $1,048,710.30 | 1,353,000 | BKPJT48 |
| 0.78% | -- | CARNIVAL CORP | 4.00% | 08/01/2028 | -- | $1,045,711.20 | 1,272,000 | BMD9Z35 |
| 0.77% | -- | LUMEN TECHNOLOGIES INC | 5.13% | 12/15/2026 | -- | $1,035,987.50 | 1,237,000 | BJ170W4 |
| 0.76% | -- | DAVITA INC | 4.63% | 06/01/2030 | -- | $1,021,635.00 | 1,314,000 | BMW7NB4 |
| 0.76% | -- | SBA COMMUNICATIONS CORP | 3.13% | 02/01/2029 | -- | $1,018,469.25 | 1,297,000 | BPVBYZ9 |
| 0.75% | -- | FIRST QUANTUM MINERALS L | 6.88% | 10/15/2027 | -- | $1,008,000.51 | 1,095,000 | BMZRC58 |
| 0.75% | -- | NFP CORP | 6.88% | 08/15/2028 | -- | $1,004,890.40 | 1,258,000 | BLD6JG0 |
| 0.74% | -- | NIELSEN FINANCE LLC/CO | 5.63% | 10/01/2028 | -- | $999,247.50 | 998,000 | BM8ZLH4 |
| 0.74% | -- | NGL ENRGY OP/FIN CORP | 7.50% | 02/01/2026 | -- | $993,112.50 | 1,119,000 | BL5C524 |
| 0.73% | -- | OCCIDENTAL PETROLEUM COR | 6.45% | 09/15/2036 | -- | $985,982.84 | 966,000 | BK8VN61 |
| 0.73% | -- | FORD MOTOR COMPANY | 3.25% | 02/12/2032 | -- | $985,095.00 | 1,350,000 | BPJP107 |
| 0.73% | -- | PETSMART INC/PETSMART FI | 4.75% | 02/15/2028 | -- | $984,013.17 | 1,128,000 | BMW5D63 |
| 0.73% | -- | VERICAST CORP | 11.00% | 09/15/2026 | -- | $976,135.00 | 991,000 | BP96BJ9 |
| 0.72% | -- | CHS/COMMUNITY HEALTH SYS | 8.00% | 03/15/2026 | -- | $966,016.94 | 1,076,000 | BHL3S91 |
| 0.72% | -- | WESCO DISTRIBUTION INC | 7.13% | 06/15/2025 | -- | $962,000.00 | 962,000 | BMYMZS8 |
| 0.71% | -- | CSC HOLDINGS LLC | 5.75% | 01/15/2030 | -- | $955,487.05 | 1,285,000 | BKFH0Y9 |
| 0.69% | -- | TRANSDIGM INC | 5.50% | 11/15/2027 | -- | $929,616.81 | 1,074,000 | BM9QGV5 |
| 0.68% | -- | 1011778 BC / NEW RED FIN | 3.88% | 01/15/2028 | -- | $918,540.48 | 1,056,000 | BJJJT70 |
| 0.68% | -- | ENDEAVOR ENERGY RESOURCE | 5.75% | 01/30/2028 | -- | $914,462.64 | 952,000 | BD2BVX1 |
| 0.67% | -- | ALTICE FRANCE SA | 5.13% | 07/15/2029 | -- | $905,822.69 | 1,223,000 | BM9V193 |
| 0.65% | -- | NEW FORTRESS ENERGY INC | 6.50% | 09/30/2026 | -- | $875,671.46 | 952,000 | BP0X973 |
| 0.65% | -- | INTELSAT JACKSON HLDG | 6.50% | 03/15/2030 | -- | $872,500.00 | 1,000,000 | BNTY069 |
| 0.64% | -- | NCL CORPORATION LTD | 5.88% | 03/15/2026 | -- | $864,557.20 | 1,060,000 | BMB5SR0 |
| 0.64% | -- | VMED O2 UK FINAN | 4.25% | 01/31/2031 | -- | $856,919.50 | 1,112,000 | BKVH9C4 |
| 0.64% | -- | ICAHN ENTERPRISES/FIN | 6.25% | 05/15/2026 | -- | $854,201.52 | 921,000 | BJ11SH7 |
| 0.63% | -- | ARAMARK SERVICES INC | 5.00% | 02/01/2028 | -- | $840,735.00 | 942,000 | BFWVB79 |
| 0.62% | -- | PRIME SECSRVC BRW/FINANC | 5.75% | 04/15/2026 | -- | $834,435.00 | 883,000 | BJTRRK3 |
| 0.62% | -- | CHENIERE ENERGY PARTNERS | 4.50% | 10/01/2029 | -- | $827,043.98 | 938,000 | BMVQHT8 |
| 0.60% | -- | CONDOR MERGER SUB INC | 7.38% | 02/15/2030 | -- | $807,912.75 | 991,000 | BNNPV76 |
| 0.60% | -- | ROCKETMTGE CO-ISSUER INC | 3.88% | 03/01/2031 | -- | $806,332.80 | 1,092,000 | BN7RYH9 |
| 0.59% | -- | CLARIOS GLOBAL LP/US FIN | 8.50% | 05/15/2027 | -- | $797,543.82 | 837,000 | BJ0M440 |
| 0.59% | -- | COMSTOCK RESOURCES INC | 6.75% | 03/01/2029 | -- | $787,932.90 | 841,000 | BMW2W01 |
| 0.58% | -- | TENET HEALTHCARE CORP | 6.13% | 10/01/2028 | -- | $783,000.00 | 870,000 | BMTXLB1 |
| 0.58% | -- | FORD MOTOR CREDIT CO LLC | 3.38% | 11/13/2025 | -- | $781,291.87 | 873,000 | BMWS436 |
| 0.58% | -- | UNIVISION COMMUNICATIONS | 4.50% | 05/01/2029 | -- | $773,850.00 | 924,000 | BLBLP92 |
| 0.57% | -- | ONEMAIN FINANCE CORP | 6.13% | 03/15/2024 | -- | $771,748.46 | 804,000 | BJKRP08 |
| 0.57% | -- | DEUTSCHE BANK NY | 3.73% | 01/14/2032 | -- | $770,644.28 | 1,095,000 | BM9YRS3 |
| 0.57% | -- | COMMSCOPE INC | 6.00% | 03/01/2026 | -- | $768,380.00 | 824,000 | BGDS1B0 |
| 0.57% | -- | PERFORMANCE FOOD GROUP I | 5.50% | 10/15/2027 | -- | $765,405.04 | 827,000 | BKWG6T6 |
| 0.57% | -- | CCO HLDGS LLC/CAP CORP | 4.75% | 03/01/2030 | -- | $759,135.00 | 916,000 | BK6WV51 |
| 0.56% | -- | MPH ACQUISITION HOLDINGS | 5.75% | 11/01/2028 | -- | $757,050.00 | 980,000 | BN2B8J6 |
| 0.56% | -- | COINBASE GLOBAL INC | 3.63% | 10/01/2031 | -- | $753,110.25 | 1,352,000 | BN6KWX1 |
| 0.56% | -- | IRON MOUNTAIN INC | 4.50% | 02/15/2031 | -- | $749,213.88 | 948,000 | BMG1HP4 |
| 0.55% | -- | ASTON MARTIN CAPITAL HOL | 10.50% | 11/30/2025 | -- | $742,559.23 | 763,000 | BMHV2Z8 |
| 0.55% | -- | IQVIA INC | 5.00% | 05/15/2027 | -- | $741,612.50 | 790,000 | BK62T46 |
| 0.55% | -- | CAESARS ENTERTAIN INC | 6.25% | 07/01/2025 | -- | $736,588.45 | 767,000 | BLFBXP0 |
| 0.55% | -- | MSCI INC | 4.00% | 11/15/2029 | -- | $735,343.50 | 850,000 | BJVBH14 |
| 0.54% | -- | HERC HOLDINGS INC | 5.50% | 07/15/2027 | -- | $731,269.22 | 800,000 | BHWTW85 |
| 0.54% | -- | ALBERTSONS COS/SAFEWAY | 3.50% | 03/15/2029 | -- | $731,200.00 | 914,000 | BKPMPR2 |
| 0.53% | -- | POST HOLDINGS INC | 4.50% | 09/15/2031 | -- | $715,064.14 | 884,000 | BMZ9QV8 |
| 0.53% | -- | ROLLS-ROYCE PLC | 5.75% | 10/15/2027 | -- | $710,912.06 | 786,000 | BMHLZ37 |
| 0.52% | -- | CALPINE CORP | 4.50% | 02/15/2028 | -- | $702,387.69 | 796,000 | BJVS9S6 |
| 0.52% | -- | NEXSTAR MEDIA INC | 5.63% | 07/15/2027 | -- | $701,040.00 | 762,000 | BJXR8L7 |
| 0.52% | -- | MIDAS OPCO HOLDINGS LLC | 5.63% | 08/15/2029 | -- | $698,245.59 | 833,000 | BMY8TS4 |
| 0.52% | -- | SIRIUS XM RADIO INC | 4.00% | 07/15/2028 | -- | $697,680.00 | 816,000 | BMBJVY0 |
| 0.52% | -- | AMERICAN AIRLINES/AADVAN | 5.75% | 04/20/2029 | -- | $694,912.50 | 783,000 | BM8H783 |
| 0.50% | -- | SOUTHWESTERN ENERGY CO | 4.75% | 02/01/2032 | -- | $676,879.56 | 804,000 | BMH4406 |
| 0.50% | -- | CLEAR CHANNEL OUTDOOR HO | 5.13% | 08/15/2027 | -- | $675,218.75 | 775,000 | BJ9NFT6 |
| 0.48% | -- | PG&E CORP | 5.25% | 07/01/2030 | -- | $648,795.00 | 777,000 | BLCC408 |
| 0.48% | -- | NRG ENERGY INC | 3.88% | 02/15/2032 | -- | $648,053.74 | 827,000 | BNSNQY7 |
| 0.48% | -- | BALL CORP | 2.88% | 08/15/2030 | -- | $643,956.60 | 840,000 | BMG3813 |
| 0.48% | -- | PACTIV EVERGREEN GROUP | 4.00% | 10/15/2027 | -- | $643,234.34 | 755,000 | BJLTTQ7 |
| 0.47% | -- | UNITI GRP/UNITI HLD/CSL | 7.88% | 02/15/2025 | -- | $635,730.12 | 648,000 | BL6Z5M2 |
| 0.47% | -- | BLOCK INC | 2.75% | 06/01/2026 | -- | $634,953.07 | 733,000 | BMX4FJ6 |
| 0.46% | -- | WEATHERFORD INTERNATIONA | 8.63% | 04/30/2030 | -- | $623,627.50 | 691,000 | BNRPC80 |
| 0.45% | -- | NOVELIS CORP | 4.75% | 01/30/2030 | -- | $608,160.00 | 724,000 | BKLPSC1 |
| 0.45% | -- | ROBLOX CORP | 3.88% | 05/01/2030 | -- | $604,617.46 | 749,000 | BNHW2C5 |
| 0.45% | -- | HUB INTERNATIONAL LTD | 7.00% | 05/01/2026 | -- | $600,625.81 | 629,000 | BFXTLW7 |
| 0.45% | -- | TULLOW OIL PLC | 10.25% | 05/15/2026 | -- | $600,600.00 | 660,000 | BKPGFV8 |
| 0.45% | -- | ROYAL CARIBBEAN CRUISES | 11.50% | 06/01/2025 | -- | $599,772.02 | 562,000 | BMFMWD1 |
| 0.44% | -- | IMOLA MERGER CORP | 4.75% | 05/15/2029 | -- | $592,559.73 | 703,000 | BJNPGH3 |
| 0.43% | -- | ALBERTSONS COS/SAFEWAY | 4.63% | 01/15/2027 | -- | $582,112.50 | 645,000 | BK0SQV6 |
| 0.43% | -- | VISTRA OPERATIONS CO LLC | 5.63% | 02/15/2027 | -- | $581,656.25 | 625,000 | BHQTTK2 |
| 0.43% | -- | TK ELEVATOR US NEWCO INC | 5.25% | 07/15/2027 | -- | $579,990.06 | 674,000 | BMC7DR0 |
| 0.43% | -- | FERTITTA ENTERTAINMENT | 6.75% | 01/15/2030 | -- | $573,076.03 | 739,000 | BPLFC68 |
| 0.42% | -- | IHEARTCOMMUNICATIONS INC | 8.38% | 05/01/2027 | -- | $567,000.00 | 648,000 | BK0NK86 |
| 0.41% | -- | UPC BROADBAND FINCO BV | 4.88% | 07/15/2031 | -- | $553,509.02 | 674,000 | BMT7QC9 |
| 0.41% | -- | ROYAL CARIBBEAN CRUISES | 5.50% | 04/01/2028 | -- | $545,638.50 | 730,000 | BN486D5 |
| 0.40% | -- | MSCI INC | 3.88% | 02/15/2031 | -- | $537,153.12 | 648,000 | BM9PSB6 |
| 0.40% | -- | COMPASS GROUP DIVERSIFIE | 5.25% | 04/15/2029 | -- | $535,246.53 | 663,000 | BMDB423 |
| 0.39% | -- | ILIAD HOLDING SAS | 6.50% | 10/15/2026 | -- | $525,990.00 | 591,000 | BLCW8V7 |
| 0.39% | -- | ARDAGH METAL PACKAGING | 4.00% | 09/01/2029 | -- | $517,508.32 | 664,000 | BNKLFF3 |
| 0.38% | -- | CROWNROCK LP/CROWNROCK F | 5.63% | 10/15/2025 | -- | $510,907.69 | 525,000 | BF032G3 |
| 0.38% | -- | LIFEPT/LEGACY LIFEPT | 9.75% | 12/01/2026 | -- | $505,905.38 | 548,000 | BGYDGW0 |
| 0.38% | -- | CQP HOLDCO LP/BIP-V CHIN | 5.50% | 06/15/2031 | -- | $503,891.01 | 587,000 | BM8H4Y8 |
| 0.37% | -- | CHS/COMMUNITY HEALTH SYS | 5.63% | 03/15/2027 | -- | $501,220.37 | 614,000 | BNNTB78 |
| 0.37% | -- | DAVITA INC | 3.75% | 02/15/2031 | -- | $498,075.00 | 687,000 | BMFBJQ0 |
| 0.37% | -- | CSC HOLDINGS LLC | 4.63% | 12/01/2030 | -- | $497,281.32 | 719,000 | BM9M1M9 |
| 0.37% | -- | ARDAGH PKG FIN/HLDGS USA | 4.13% | 08/15/2026 | -- | $497,224.94 | 579,000 | BK5HL35 |
| 0.37% | -- | WR GRACE HOLDING LLC | 5.63% | 08/15/2029 | -- | $496,452.60 | 651,000 | BLDBLN6 |
| 0.36% | -- | ALLIANT HOLD / CO-ISSUER | 6.75% | 10/15/2027 | -- | $486,109.12 | 553,000 | BJK69N6 |
| 0.36% | -- | US FOODS INC | 6.25% | 04/15/2025 | -- | $482,367.20 | 488,000 | BL6FPX3 |
| 0.36% | -- | NEXSTAR MEDIA INC | 4.75% | 11/01/2028 | -- | $478,517.76 | 552,000 | BMFNGQ5 |
| 0.36% | -- | ONEMAIN FINANCE CORP | 7.13% | 03/15/2026 | -- | $478,460.12 | 526,000 | BDTMS47 |
| 0.35% | -- | KINETIK HOLDINGS LP | 5.88% | 06/15/2030 | -- | $467,881.73 | 508,000 | BQB7JV5 |
| 0.35% | -- | SPIRIT AEROSYSTEMS INC | 7.50% | 04/15/2025 | -- | $464,400.00 | 480,000 | BMCQ6D4 |
| 0.34% | -- | VIRGIN MEDIA SECURED FIN | 5.50% | 05/15/2029 | -- | $462,833.85 | 535,000 | BJDQX75 |
| 0.34% | -- | BAUSCH HEALTH COS INC | 5.50% | 11/01/2025 | -- | $461,467.45 | 577,000 | BF032J6 |
| 0.34% | -- | SCIH SALT HOLDINGS INC | 4.88% | 05/01/2028 | -- | $458,286.51 | 541,000 | BMHBB51 |
| 0.34% | -- | POST HOLDINGS INC | 4.63% | 04/15/2030 | -- | $454,840.00 | 548,000 | BLCF601 |
| 0.34% | -- | LIVE NATION ENTERTAINMEN | 6.50% | 05/15/2027 | -- | $454,118.70 | 470,000 | BMFKW46 |
| 0.34% | -- | ALTICE FRANCE SA | 5.50% | 10/15/2029 | -- | $454,050.00 | 600,000 | BMXJSV4 |
| 0.33% | -- | CDI ESCROW ISSUER INC | 5.75% | 04/01/2030 | -- | $449,255.00 | 500,000 | BPP2DX9 |
| 0.33% | -- | CEDAR FAIR/CAN/MAGNUM/MI | 5.50% | 05/01/2025 | -- | $445,331.25 | 455,000 | BMTRDY0 |
| 0.33% | -- | SELECT MEDICAL CORP | 6.25% | 08/15/2026 | -- | $441,296.17 | 469,000 | BKPHQM9 |
| 0.32% | -- | AIR CANADA | 3.88% | 08/15/2026 | -- | $432,753.88 | 494,000 | BNNNHG1 |
| 0.32% | -- | TRIVIUM PACKAGING FIN | 5.50% | 08/15/2026 | -- | $427,697.28 | 467,000 | BK0YKJ0 |
| 0.32% | -- | BAUSCH HEALTH AMERICAS | 8.50% | 01/31/2027 | -- | $426,957.64 | 1,013,000 | BFY2Z12 |
| 0.31% | -- | BUILDERS FIRSTSOURCE INC | 4.25% | 02/01/2032 | -- | $418,808.74 | 541,000 | BMD9BZ9 |
| 0.31% | -- | WINDSTREAM ESCROW LLC | 7.75% | 08/15/2028 | -- | $418,437.89 | 497,000 | BMH17V9 |
| 0.31% | -- | CITGO PETROLEUM CORP | 7.00% | 06/15/2025 | -- | $416,020.28 | 428,000 | BM9SDG5 |
| 0.31% | -- | ITT HOLDINGS LLC | 6.50% | 08/01/2029 | -- | $412,546.09 | 509,000 | BLC9L19 |
| 0.31% | -- | SENSATA TECHNOLOGIES BV | 4.00% | 04/15/2029 | -- | $411,057.78 | 489,000 | BNKFMN2 |
| 0.31% | -- | H&E EQUIPMENT SERVICES | 3.88% | 12/15/2028 | -- | $410,652.00 | 510,000 | BLSN159 |
| 0.31% | -- | UNITI GROUP/CSL CAPITAL | 6.50% | 02/15/2029 | -- | $410,355.00 | 600,000 | BMDHSY1 |
| 0.30% | -- | VERSCEND ESCROW CORP | 9.75% | 08/15/2026 | -- | $408,678.60 | 418,000 | BD0BPV9 |
| 0.30% | -- | LIONS GATE CAPITAL HOLD | 5.50% | 04/15/2029 | -- | $406,856.04 | 498,000 | BMWX2S2 |
| 0.30% | -- | NEW FORTRESS ENERGY INC | 6.75% | 09/15/2025 | -- | $403,965.00 | 423,000 | BNGFXX3 |
| 0.30% | -- | BATH & BODY WORKS INC | 6.63% | 10/01/2030 | -- | $398,864.67 | 464,000 | BMH1559 |
| 0.29% | -- | GENESIS ENERGY LP/FIN | 8.00% | 01/15/2027 | -- | $395,600.00 | 430,000 | BN717J4 |
| 0.29% | -- | NEWS CORP | 3.88% | 05/15/2029 | -- | $393,550.00 | 463,000 | BMV9PS2 |
| 0.29% | -- | STANDARD INDUSTRIES INC | 3.38% | 01/15/2031 | -- | $393,340.00 | 554,000 | BMFNDV9 |
| 0.29% | -- | MOHEGAN GAMING & ENT | 8.00% | 02/01/2026 | -- | $389,850.63 | 463,000 | BMYW168 |
| 0.29% | -- | SIRIUS XM RADIO INC | 3.88% | 09/01/2031 | -- | $389,370.00 | 500,000 | BM9SD09 |
| 0.29% | -- | CLYDESDALE ACQUISITION | 8.75% | 04/15/2030 | -- | $388,257.79 | 457,000 | BQ3QRD8 |
| 0.29% | -- | HAWAIIAN BRAND INTELLECT | 5.75% | 01/20/2026 | -- | $383,851.20 | 422,000 | BMGWDD7 |
| 0.28% | -- | FORTRESS TRANS & INFRAST | 5.50% | 05/01/2028 | -- | $374,806.60 | 463,000 | BMD14K1 |
| 0.28% | -- | VENTURE GLOBAL CALCASIEU | 4.13% | 08/15/2031 | -- | $374,697.05 | 455,000 | BMY9R27 |
| 0.28% | -- | REALOGY GROUP/CO-ISSUER | 5.25% | 04/15/2030 | -- | $373,402.40 | 524,000 | BP82M40 |
| 0.28% | -- | NCR CORP | 5.13% | 04/15/2029 | -- | $370,090.00 | 476,000 | BL6KR10 |
| 0.28% | -- | MATADOR RESOURCES CO | 5.88% | 09/15/2026 | -- | $369,608.10 | 381,000 | BJ1MZM4 |
| 0.27% | -- | VISTRA CORP | 5.00% | 07/31/2027 | -- | $367,673.60 | 406,000 | BHRH886 |
| 0.27% | -- | GRAY ESCROW II INC | 5.38% | 11/15/2031 | -- | $360,821.56 | 458,000 | BM93J39 |
| 0.27% | -- | HERTZ CORP/THE | 5.00% | 12/01/2029 | -- | $359,190.00 | 468,000 | BP9LWV3 |
| 0.26% | -- | CALPINE CORP | 5.13% | 03/15/2028 | -- | $349,766.64 | 405,000 | BKZMMC6 |
| 0.26% | -- | CMG MEDIA CORPORATION | 8.88% | 12/15/2027 | -- | $343,941.82 | 446,000 | BK7CY84 |
| 0.26% | -- | ALLISON TRANSMISSION INC | 3.75% | 01/30/2031 | -- | $343,938.65 | 451,000 | BMX50K5 |
| 0.26% | -- | AVANTOR FUNDING INC | 4.63% | 07/15/2028 | -- | $343,462.50 | 387,000 | BMVVY70 |
| 0.26% | -- | SRM ESCROW ISSUER LLC | 6.00% | 11/01/2028 | -- | $342,331.86 | 425,000 | BMDXC58 |
| 0.25% | -- | AMC NETWORKS INC | 4.25% | 02/15/2029 | -- | $339,977.00 | 440,000 | BLCHH93 |
| 0.25% | -- | MIDCAP FINANCIAL ISSR TR | 6.50% | 05/01/2028 | -- | $338,741.51 | 394,000 | BMBV4H0 |
| 0.25% | -- | EQM MIDSTREAM PARTNERS L | 4.75% | 01/15/2031 | -- | $336,043.62 | 407,000 | BMD50V6 |
| 0.25% | -- | MEG ENERGY CORP | 7.13% | 02/01/2027 | -- | $335,380.00 | 328,000 | BHNFPR2 |
| 0.25% | -- | VERITAS US INC/BERMUDA L | 7.50% | 09/01/2025 | -- | $333,418.33 | 434,000 | BL6B0F8 |
| 0.25% | -- | LCM INVESTMENTS HOLDINGS | 4.88% | 05/01/2029 | -- | $330,244.55 | 415,000 | BNM5Z19 |
| 0.25% | -- | TRONOX INC | 4.63% | 03/15/2029 | -- | $329,400.00 | 432,000 | BNQPRV9 |
| 0.24% | -- | PETSMART INC/PETSMART FI | 7.75% | 02/15/2029 | -- | $323,470.56 | 357,000 | BMTN6F0 |
| 0.23% | -- | CHENIERE ENERGY INC | 4.63% | 10/15/2028 | -- | $312,426.00 | 340,000 | BNMB2S3 |
| 0.23% | -- | VZ SECURED FINANCING BV | 5.00% | 01/15/2032 | -- | $310,781.62 | 400,000 | BM94BT2 |
| 0.23% | -- | JEFFERIES FIN LLC / JFIN | 5.00% | 08/15/2028 | -- | $309,920.00 | 416,000 | BP83D39 |
| 0.22% | -- | OCCIDENTAL PETROLEUM COR | 6.63% | 09/01/2030 | -- | $299,504.40 | 292,000 | BKSGZP9 |
| 0.22% | -- | RAKUTEN GROUP INC | 6.25% | -- | -- | $297,470.00 | 394,000 | BP2FD31 |
| 0.21% | -- | UNITED AIRLINES INC | 4.38% | 04/15/2026 | -- | $287,328.92 | 321,000 | BMG8799 |
| 0.21% | -- | NMG HLDCO/NEIMAN MARCUS | 7.13% | 04/01/2026 | -- | $281,975.20 | 304,000 | BNRLH72 |
| 0.20% | -- | ORGANON & CO/ORG | 5.13% | 04/30/2031 | -- | $274,780.80 | 329,000 | BMV1L02 |
| 0.20% | -- | MADISON IAQ LLC | 5.88% | 06/30/2029 | -- | $273,091.84 | 370,000 | BM9PWX6 |
| 0.19% | -- | DARLING INGREDIENTS INC | 6.00% | 06/15/2030 | -- | $257,355.00 | 266,000 | BN95KZ1 |
| 0.19% | -- | RADIATE HOLDCO / FINANCE | 6.50% | 09/15/2028 | -- | $253,025.00 | 349,000 | BM9TR00 |
| 0.19% | -- | AVAYA INC | 6.13% | 09/15/2028 | -- | $251,320.00 | 488,000 | BM9TQX6 |
| 0.18% | -- | MICHAELS COS INC/THE | 7.88% | 05/01/2029 | -- | $247,834.04 | 401,000 | BN6JYJ8 |
| 0.18% | -- | HILTON DOMESTIC OPERATIN | 4.00% | 05/01/2031 | -- | $243,732.78 | 293,000 | BNDLGZ7 |
| 0.17% | -- | WESCO DISTRIBUTION INC | 7.25% | 06/15/2028 | -- | $227,431.14 | 228,000 | BMYMZT9 |
| 0.16% | -- | STANDARD INDUSTRIES INC | 4.38% | 07/15/2030 | -- | $217,775.00 | 281,000 | BMYXXP4 |
| 0.16% | -- | DIAMOND SPORTS GR/DIAMON | 6.63% | 08/15/2027 | -- | $215,280.00 | 2,944,000 | BKKGCN4 |
| 0.16% | -- | VISTAJET MALTA/XO MGMT | 6.38% | 02/01/2030 | -- | $214,595.00 | 257,000 | BP4Z8H8 |
| 0.16% | -- | UNIVISION COMMUNICATIONS | 6.63% | 06/01/2027 | -- | $214,067.20 | 226,000 | BMG68Y5 |
| 0.15% | -- | VENTURE GLOBAL CALCASIEU | 3.88% | 11/01/2033 | -- | $197,332.50 | 249,000 | BP9SCV4 |
| 0.14% | -- | IRON MOUNTAIN INC | 5.25% | 07/15/2030 | -- | $182,080.28 | 215,000 | BL57W73 |
| 0.13% | -- | COMMSCOPE INC | 4.75% | 09/01/2029 | -- | $175,970.06 | 214,000 | BLDBLL4 |
| 0.13% | -- | YUM! BRANDS INC | 3.63% | 03/15/2031 | -- | $168,279.30 | 210,000 | BN7S9F5 |
| 0.12% | -- | STAPLES INC | 10.75% | 04/15/2027 | -- | $163,540.00 | 221,000 | BK0L4Q6 |
| 0.11% | -- | ICAHN ENTERPRISES/FIN | 5.25% | 05/15/2027 | -- | $149,575.12 | 169,000 | BLGSGV7 |
| 0.11% | -- | VMED O2 UK FINAN | 4.75% | 07/15/2031 | -- | $142,708.56 | 184,000 | BP7LR98 |
| 0.10% | -- | SOUTHWESTERN ENERGY CO | 5.38% | 03/15/2030 | -- | $136,688.22 | 151,000 | BMDVV88 |
| 0.10% | -- | CLEAR CHANNEL OUTDOOR HO | 7.50% | 06/01/2029 | -- | $128,520.00 | 168,000 | BNHS096 |
| 0.08% | -- | CURO GROUP HOLDINGS CORP | 7.50% | 08/01/2028 | -- | $107,251.91 | 208,000 | BP6GZJ0 |
| 0.06% | -- | FERTITTA ENTERTAINMENT | 4.63% | 01/15/2029 | -- | $86,308.32 | 102,000 | BMH29D8 |
| 0.06% | -- | DIAMOND SPORTS GR/DIAMON | 5.38% | 08/15/2026 | -- | $84,825.00 | 468,000 | BMBTSG1 |
| 0.06% | -- | TEGNA INC | 5.00% | 09/15/2029 | -- | $84,352.96 | 92,000 | BMXC0P1 |
| 0.05% | -- | LEVEL 3 FINANCING INC | 4.25% | 07/01/2028 | -- | $71,534.60 | 92,000 | BMTR5N3 |
| 0.04% | -- | PG&E CORP | 5.00% | 07/01/2028 | -- | $54,612.48 | 64,000 | BLCC3Z6 |
| 0.02% | -- | ZAYO GROUP HOLDINGS INC | 6.13% | 03/01/2028 | -- | $27,550.08 | 38,000 | BLBQF75 |
| 0.02% | -- | SBA COMMUNICATIONS CORP | 3.88% | 02/15/2027 | -- | $22,857.64 | 26,000 | BNBTL14 |
| 0.02% | -- | NRG ENERGY INC | 3.63% | 02/15/2031 | -- | $21,079.13 | 27,000 | BNM51T9 |
| 0.01% | -- | ARAMARK SERVICES INC | 6.38% | 05/01/2025 | -- | $10,756.79 | 11,000 | BMXPRX7 |
| -- | -- | NET OTHER ASSETS (LIABILITIES) | -- | -- | -- | $6,955,808.35 | 6,955,808 | -- |
| -13.91% | -- | US 2YR NOTE (CBT) BOND 30/DEC/2022 TUZ2 COMDTY | -- | -- | -18,677,039 | -- | -91 | -- |
| -41.36% | -- | US 10YR NOTE (CBT) BOND 20/DEC/2022 TYZ2 COMDTY | -- | -- | -55,524,125 | -- | -493 | -- |
| -44.40% | -- | US 5YR NOTE (CBT) BOND 30/DEC/2022 FVZ2 COMDTY | -- | -- | -59,598,281 | -- | -554 | -- |
Index
as of 6/30/2022
- Total Number of Issues212
- Effective Duration0
- Modified Duration0.00 Years
- Weighted Average Maturity6.20 Years
- Weighted Average Coupon5.71%
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
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2013
| Ex-Dividend Date | Record Date | Payable Date | Dividend | Long-Term Capital Gain | Short-Term Capital Gain | Return of Capital |
|---|