IGHG
Investment Grade—Interest Rate Hedged
Why Invest in IGHG?
-
Provides the return potential of a diversified portfolio of investment grade 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.
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Generally offers lower interest rate sensitivity than short-term bonds by targeting a duration of zero.
Why Invest in IGHG?
-
Provides the return potential of a diversified portfolio of investment grade 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| IGHG Market Price | 0.65% | 4.56% | 4.82% | 6.87% | 11.28% | 4.35% | 3.29% | -- | 2.67% | 11/05/2013 |
| IGHG NAV | 0.66% | 4.62% | 4.98% | 7.06% | 11.04% | 4.12% | 3.26% | -- | 2.67% | 11/05/2013 |
| FTSE Corporate Investment Grade (Treasury Rate-Hedged) Index | 0.21% | 3.12% | 2.31% | 3.40% | 7.96% | 3.50% | 2.74% | -- | 2.62% | -- |
| Fund + Index | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| IGHG Market Price | 2.27% | 2.66% | 4.53% | 4.53% | 10.09% | 4.34% | 3.17% | -- | 2.48% | 11/05/2013 |
| IGHG NAV | 2.02% | 2.91% | 4.40% | 4.40% | 9.93% | 4.10% | 3.10% | -- | 2.45% | 11/05/2013 |
| FTSE Corporate Investment Grade (Treasury Rate-Hedged) Index | 1.46% | 1.72% | 1.74% | 1.74% | 8.13% | 3.83% | 2.80% | -- | 2.50% | -- |
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 IGHG
- Intraday Ticker IGHG.IV
- CUSIP 74347B607
- Inception Date 11/5/13
- Expense Ratio 0.30%
- NAV Calculation Time 3:00 p.m. ET
- Distributions Monthly
Characteristics
as of 7/31/2023- Number of Companies --
- Price/Earnings Ratio --
- Price/Book Ratio --
Price to book ratio measures market value of a fund or index relative to the collective book values of its component stocks.
- Distribution Yield 4.88%
Distribution Yield represents the annualized yield based on the last income distribution.
- Weighted Avg. Market Cap --
Weighted average market cap is the average market value of a fund or index, weighted for the market capitalization (price times shares outstanding) of each component. In such a weighting scheme, larger market cap companies carry greater weight than smaller market cap companies.
- SEC 30-Day Yield 5.00%
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 5.17% - Net Effective Duration 0.27%
Price
as of 9/28/2023- NAV $74.29
- NAV Change $-0.09
- Market Price $74.14
- Market Price Change $-0.15
- Trading Volume (M) 6,031
- 30-Day Median Bid Ask Spread 0.00%
- View Premium / Discount
Snapshot
- Ticker IGHG
- Intraday Ticker IGHG.IV
- CUSIP 74347B607
- Inception Date 11/5/13
- Unitary Expense Ratio 0.30%
- NAV Calculation Time 3:00 p.m. ET
- Distributions Monthly
Characteristics
as of 7/31/2023- Number of Companies --
- Price/Earnings Ratio --
- Price/Book Ratio --
Price to book ratio measures market value of a fund or index relative to the collective book values of its component stocks.
- Distribution Yield 4.88%
Distribution Yield represents the annualized yield based on the last income distribution.
- Weighted Avg. Market Cap --
Weighted average market cap is the average market value of a fund or index, weighted for the market capitalization (price times shares outstanding) of each component. In such a weighting scheme, larger market cap companies carry greater weight than smaller market cap companies.
- SEC 30-Day Yield 5.00%
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 5.17%
- Net Effective Duration 0.27%
Price
as of 9/28/2023- NAV $74.29
- NAV Change $-0.09
- Market Price $74.14
- Market Price Change $-0.15
- Trading Volume (M) 6,031
- 30-Day Median Bid Ask Spread 0.00%
- View Premium / Discount
Exposures
Index as of 9/30/2022
Holdings
as of 9/28/2023
| Weight | Ticker | Description | Coupon Rate | Maturity Date | Exposure Value (Notional + GL) |
Market Value | Shares/Contracts | SEDOL Number |
|---|---|---|---|---|---|---|---|---|
| 1.94% | -- | GOLDMAN SACHS GROUP INC | 6.25% | 02/01/2041 | -- | $5,560,146.91 | 5,530,000 | B43DYH8 |
| 1.92% | -- | JPMORGAN CHASE & CO | 5.50% | 10/15/2040 | -- | $5,505,987.96 | 5,834,000 | B43XY12 |
| 1.66% | -- | APPLE INC | 3.45% | 02/09/2045 | -- | $4,742,106.29 | 6,309,000 | BVVCSF2 |
| 1.53% | -- | PFIZER INC | 7.20% | 03/15/2039 | -- | $4,368,092.12 | 3,806,000 | B65HZL3 |
| 1.49% | -- | IBM CORP | 4.25% | 05/15/2049 | -- | $4,264,627.18 | 5,528,000 | BFY97C8 |
| 1.42% | -- | MORGAN STANLEY | 4.38% | 01/22/2047 | -- | $4,063,342.62 | 5,149,000 | BYM4WR8 |
| 1.34% | -- | ASTRAZENECA PLC | 4.00% | 09/18/2042 | -- | $3,842,303.45 | 4,751,000 | B8C0348 |
| 1.33% | -- | WELLS FARGO & COMPANY | 5.61% | 01/15/2044 | -- | $3,816,084.75 | 4,318,000 | BJTGHH7 |
| 1.33% | -- | VERIZON COMMUNICATIONS | 4.52% | 09/15/2048 | -- | $3,807,490.65 | 4,820,000 | BYRLSF4 |
| 1.30% | -- | CISCO SYSTEMS INC | 5.90% | 02/15/2039 | -- | $3,715,120.10 | 3,610,000 | B4YDXD6 |
| 1.22% | -- | BANK OF AMERICA CORP | 5.88% | 02/07/2042 | -- | $3,499,908.76 | 3,576,000 | B6T0187 |
| 1.12% | -- | VODAFONE GROUP PLC | 6.15% | 02/27/2037 | -- | $3,195,761.79 | 3,246,000 | B1SBFX9 |
| 1.10% | -- | ORACLE CORP | 6.50% | 04/15/2038 | -- | $3,155,207.66 | 3,139,000 | B2QR213 |
| 1.09% | -- | CITIGROUP INC | 6.68% | 09/13/2043 | -- | $3,105,043.76 | 3,130,000 | BCRXKM7 |
| 1.07% | -- | HSBC HOLDINGS PLC | 6.50% | 09/15/2037 | -- | $3,067,431.43 | 3,144,000 | B24FY35 |
| 0.99% | -- | BHP BILLITON FIN USA LTD | 5.00% | 09/30/2043 | -- | $2,824,146.97 | 3,138,000 | BF6DYK5 |
| 0.97% | -- | GLAXOSMITHKLINE CAP INC | 6.38% | 05/15/2038 | -- | $2,763,879.75 | 2,541,000 | B2RDM21 |
| 0.96% | -- | SHELL INTERNATIONAL FIN | 3.75% | 09/12/2046 | -- | $2,757,210.30 | 3,741,000 | BD3RRJ6 |
| 0.96% | -- | RTX CORP | 4.50% | 06/01/2042 | -- | $2,755,077.97 | 3,359,000 | B86VSX1 |
| 0.94% | -- | COOPERATIEVE RABOBANK UA | 5.75% | 12/01/2043 | -- | $2,692,978.59 | 2,921,000 | BGYY0D2 |
| 0.93% | -- | BANK OF AMERICA CORP | 7.75% | 05/14/2038 | -- | $2,672,492.73 | 2,388,000 | B2RFJL5 |
| 0.92% | -- | MITSUBISHI UFJ FIN GRP | 3.74% | 03/07/2029 | -- | $2,623,353.62 | 2,889,000 | BJLRB98 |
| 0.89% | -- | WALT DISNEY COMPANY/THE | 2.65% | 01/13/2031 | -- | $2,551,709.10 | 3,085,000 | BMD7ZZ1 |
| 0.89% | -- | PFIZER INC | 4.00% | 12/15/2036 | -- | $2,550,420.36 | 2,959,000 | BZ3FFJ0 |
| 0.89% | -- | SOUTHERN COPPER CORP | 6.75% | 04/16/2040 | -- | $2,548,025.40 | 2,435,000 | B57GT08 |
| 0.88% | -- | CONOCOPHILLIPS COMPANY | 6.95% | 04/15/2029 | -- | $2,515,897.48 | 2,327,000 | 5670055 |
| 0.87% | -- | HOME DEPOT INC | 5.88% | 12/16/2036 | -- | $2,493,156.55 | 2,420,000 | B1L80H6 |
| 0.86% | -- | IBM CORP | 4.15% | 05/15/2039 | -- | $2,459,166.58 | 3,025,000 | BFY9706 |
| 0.85% | -- | TELEFONICA EMISIONES SAU | 5.21% | 03/08/2047 | -- | $2,431,481.83 | 3,054,000 | BF04KW8 |
| 0.84% | -- | SPRINT CAPITAL CORP | 8.75% | 03/15/2032 | -- | $2,410,537.42 | 2,094,000 | 2964029 |
| 0.83% | -- | ROYAL BANK OF CANADA | 2.30% | 11/03/2031 | -- | $2,382,018.99 | 3,073,000 | BM9K8M2 |
| 0.82% | -- | COCA-COLA CO/THE | 1.65% | 06/01/2030 | -- | $2,355,642.77 | 2,943,000 | BKSJPV4 |
| 0.81% | -- | METLIFE INC | 4.88% | 11/13/2043 | -- | $2,323,565.00 | 2,693,000 | BGDXK74 |
| 0.81% | -- | JPMORGAN CHASE & CO | 6.40% | 05/15/2038 | -- | $2,321,105.72 | 2,240,000 | B39F3N0 |
| 0.81% | -- | MEDTRONIC INC | 4.63% | 03/15/2045 | -- | $2,306,206.77 | 2,626,000 | BYZYSL1 |
| 0.80% | -- | BARCLAYS PLC | 5.25% | 08/17/2045 | -- | $2,296,878.51 | 2,760,000 | BYT35M4 |
| 0.73% | -- | VALE OVERSEAS LIMITED | 6.88% | 11/21/2036 | -- | $2,099,140.00 | 2,092,000 | B1HMKF0 |
| 0.71% | -- | AMERICA MOVIL SAB DE CV | 6.13% | 03/30/2040 | -- | $2,026,954.57 | 2,059,000 | B62V507 |
| 0.70% | -- | GOLDMAN SACHS GROUP INC | 5.15% | 05/22/2045 | -- | $2,000,135.10 | 2,330,000 | BY58YT3 |
| 0.69% | -- | PROCTER & GAMBLE CO/THE | 3.00% | 03/25/2030 | -- | $1,985,905.93 | 2,238,000 | BMFVFK6 |
| 0.69% | -- | ALLY FINANCIAL INC | 8.00% | 11/01/2031 | -- | $1,973,676.06 | 1,958,000 | B3LVPV8 |
| 0.69% | -- | VODAFONE GROUP PLC | 4.25% | 09/17/2050 | -- | $1,971,309.31 | 2,736,000 | BKVJXB7 |
| 0.69% | -- | WALMART INC | 6.50% | 08/15/2037 | -- | $1,971,126.58 | 1,783,000 | B242VX5 |
| 0.69% | -- | TRANSCANADA PIPELINES | 6.20% | 10/15/2037 | -- | $1,966,276.94 | 2,004,000 | B287YY8 |
| 0.69% | -- | ABBVIE INC | 4.40% | 11/06/2042 | -- | $1,963,732.70 | 2,373,000 | BCZM189 |
| 0.68% | -- | TELEFONICA EMISIONES SAU | 7.05% | 06/20/2036 | -- | $1,946,333.42 | 1,896,000 | B170DG6 |
| 0.68% | -- | COCA-COLA CO/THE | 2.13% | 09/06/2029 | -- | $1,936,404.13 | 2,275,000 | BJBXY53 |
| 0.67% | -- | VERIZON COMMUNICATIONS | 5.25% | 03/16/2037 | -- | $1,913,897.41 | 2,055,000 | BYZKXZ8 |
| 0.66% | -- | SUMITOMO MITSUI FINL GRP | 3.04% | 07/16/2029 | -- | $1,896,095.09 | 2,223,000 | BKBZGK5 |
| 0.66% | -- | WELLS FARGO & COMPANY | 4.90% | 11/17/2045 | -- | $1,874,178.57 | 2,334,000 | BYQ29R7 |
| 0.65% | -- | UNITEDHEALTH GROUP INC | 6.88% | 02/15/2038 | -- | $1,858,487.41 | 1,670,000 | B2PHBR3 |
| 0.64% | -- | GENERAL MOTORS CO | 6.25% | 10/02/2043 | -- | $1,844,736.94 | 2,057,000 | BP8Y7Q3 |
| 0.63% | -- | TIME WARNER CABLE LLC | 6.75% | 06/15/2039 | -- | $1,802,482.54 | 1,976,000 | B62X8Y8 |
| 0.61% | -- | TORONTO-DOMINION BANK | 3.20% | 03/10/2032 | -- | $1,743,900.68 | 2,132,000 | BNG28J5 |
| 0.61% | -- | OCCIDENTAL PETROLEUM COR | 6.45% | 09/15/2036 | -- | $1,733,757.33 | 1,761,000 | BK8VN61 |
| 0.60% | -- | SHELL INTERNATIONAL FIN | 6.38% | 12/15/2038 | -- | $1,728,957.59 | 1,620,000 | B3KFDY0 |
| 0.59% | -- | SHELL INTERNATIONAL FIN | 4.13% | 05/11/2035 | -- | $1,675,670.20 | 1,907,000 | BXC5W85 |
| 0.58% | -- | PHILIP MORRIS INTL INC | 6.38% | 05/16/2038 | -- | $1,662,326.94 | 1,634,000 | B2RK1T2 |
| 0.58% | -- | COCA-COLA CO/THE | 2.25% | 01/05/2032 | -- | $1,658,483.86 | 2,043,000 | BLF8XX9 |
| 0.57% | -- | CITIGROUP INC | 4.75% | 05/18/2046 | -- | $1,627,229.58 | 2,077,000 | BDGLCL2 |
| 0.57% | -- | MERCEDES-BENZ FIN NA | 8.50% | 01/18/2031 | -- | $1,625,515.69 | 1,375,000 | B065ZJ2 |
| 0.57% | -- | ALTRIA GROUP INC | 5.38% | 01/31/2044 | -- | $1,617,438.91 | 1,805,000 | BG3KW02 |
| 0.56% | -- | BERKSHIRE HATHAWAY ENERG | 6.13% | 04/01/2036 | -- | $1,611,352.86 | 1,603,000 | B1FTHZ2 |
| 0.56% | -- | UNITED PARCEL SERVICE | 6.20% | 01/15/2038 | -- | $1,592,174.18 | 1,492,000 | B2NP6Q3 |
| 0.56% | -- | NOVARTIS CAPITAL CORP | 4.40% | 05/06/2044 | -- | $1,592,012.30 | 1,848,000 | BJZ7ZQ9 |
| 0.55% | -- | WESTPAC BANKING CORP | 3.13% | 11/18/2041 | -- | $1,577,350.78 | 2,572,000 | BLD9486 |
| 0.55% | -- | HSBC HOLDINGS PLC | 4.95% | 03/31/2030 | -- | $1,571,608.34 | 1,678,000 | BLCC7J8 |
| 0.54% | -- | TIME WARNER CABLE ENTRMN | 8.38% | 07/15/2033 | -- | $1,548,041.66 | 1,440,000 | 2727266 |
| 0.53% | -- | SUMITOMO MITSUI FINL GRP | 5.71% | 01/13/2030 | -- | $1,526,425.20 | 1,560,000 | BNM9D17 |
| 0.52% | -- | VERIZON COMMUNICATIONS | 4.50% | 08/10/2033 | -- | $1,487,258.47 | 1,673,000 | BF22PM5 |
| 0.52% | -- | SUMITOMO MITSUI FINL GRP | 2.13% | 07/08/2030 | -- | $1,486,744.40 | 1,902,000 | BLPHW40 |
| 0.52% | -- | UBS GROUP AG | 4.88% | 05/15/2045 | -- | $1,480,515.02 | 1,802,000 | BPX2D53 |
| 0.52% | -- | MITSUBISHI UFJ FIN GRP | 3.75% | 07/18/2039 | -- | $1,475,340.31 | 1,891,000 | BKFH1R9 |
| 0.50% | -- | COMCAST CORP | 4.25% | 01/15/2033 | -- | $1,442,259.22 | 1,599,000 | B92PSY5 |
| 0.50% | -- | BANCO SANTANDER SA | 3.49% | 05/28/2030 | -- | $1,426,970.08 | 1,696,000 | BLB6SW1 |
| 0.50% | -- | PHILLIPS 66 | 5.88% | 05/01/2042 | -- | $1,420,792.27 | 1,461,000 | B7RB2F3 |
| 0.49% | -- | KINDER MORGAN ENER PART | 6.95% | 01/15/2038 | -- | $1,411,412.90 | 1,375,000 | B1Z54W6 |
| 0.49% | -- | PROCTER & GAMBLE CO/THE | 1.20% | 10/29/2030 | -- | $1,390,999.86 | 1,799,000 | BN6LYH2 |
| 0.48% | -- | UNITEDHEALTH GROUP INC | 2.00% | 05/15/2030 | -- | $1,379,860.69 | 1,705,000 | BMFKVV6 |
| 0.47% | -- | CATERPILLAR INC | 3.80% | 08/15/2042 | -- | $1,350,128.63 | 1,691,000 | B944GF7 |
| 0.47% | -- | VALERO ENERGY CORP | 6.63% | 06/15/2037 | -- | $1,340,875.32 | 1,309,000 | B1YLTG4 |
| 0.46% | -- | TELEFONICA EUROPE BV | 8.25% | 09/15/2030 | -- | $1,320,189.61 | 1,186,000 | 4474021 |
| 0.46% | -- | BANK OF NOVA SCOTIA | 4.85% | 02/01/2030 | -- | $1,315,049.25 | 1,400,000 | BPP33C1 |
| 0.45% | -- | WALT DISNEY COMPANY/THE | 3.80% | 03/22/2030 | -- | $1,291,144.01 | 1,425,000 | BL98SN0 |
| 0.45% | -- | KRAFT HEINZ FOODS CO | 5.00% | 06/04/2042 | -- | $1,276,453.87 | 1,478,000 | B8Y96M2 |
| 0.44% | -- | ANHEUSER-BUSCH INBEV WOR | 4.95% | 01/15/2042 | -- | $1,272,427.41 | 1,401,000 | BDCMR69 |
| 0.44% | -- | UNITEDHEALTH GROUP INC | 4.63% | 07/15/2035 | -- | $1,261,257.92 | 1,366,000 | BYTRVR3 |
| 0.44% | -- | CNOOC PETROLEUM NORTH | 6.40% | 05/15/2037 | -- | $1,259,470.07 | 1,233,000 | B1WV0T6 |
| 0.43% | -- | TIME WARNER CABLE LLC | 7.30% | 07/01/2038 | -- | $1,231,695.64 | 1,280,000 | B3B14R7 |
| 0.42% | -- | SUNCOR ENERGY INC | 6.50% | 06/15/2038 | -- | $1,202,759.03 | 1,209,000 | B1Z7WM8 |
| 0.42% | -- | ECOPETROL SA | 5.88% | 05/28/2045 | -- | $1,201,103.44 | 1,813,000 | BMQXLW5 |
| 0.42% | -- | HESS CORP | 5.60% | 02/15/2041 | -- | $1,199,277.95 | 1,327,000 | B4TV238 |
| 0.41% | -- | UNITED AIR 2023-1 A PTT | 5.80% | 01/15/2036 | -- | $1,186,450.52 | 1,223,000 | -- |
| 0.41% | -- | JOHNSON & JOHNSON | 5.95% | 08/15/2037 | -- | $1,163,781.53 | 1,102,000 | B2418B9 |
| 0.41% | -- | HP INC | 6.00% | 09/15/2041 | -- | $1,160,892.68 | 1,236,000 | B5V6LS6 |
| 0.40% | -- | WALT DISNEY COMPANY/THE | 6.65% | 11/15/2037 | -- | $1,144,858.57 | 1,067,000 | BKPTBZ3 |
| 0.40% | -- | UNILEVER CAPITAL CORP | 5.90% | 11/15/2032 | -- | $1,140,484.28 | 1,100,000 | 7518926 |
| 0.39% | -- | CANADIAN NATL RESOURCES | 6.25% | 03/15/2038 | -- | $1,128,205.68 | 1,167,000 | B1VJP74 |
| 0.39% | -- | GE CAPITAL INTL FUNDING | 4.42% | 11/15/2035 | -- | $1,120,543.29 | 1,256,000 | BYNWXZ6 |
| 0.38% | -- | SUMITOMO MITSUI FINL GRP | 5.77% | 01/13/2033 | -- | $1,097,529.31 | 1,121,000 | BMTX144 |
| 0.38% | -- | APPLE INC | 4.38% | 05/13/2045 | -- | $1,090,247.12 | 1,265,000 | BXC5WP2 |
| 0.38% | -- | SUMITOMO MITSUI FINL GRP | 6.18% | 07/13/2043 | -- | $1,078,999.98 | 1,130,000 | BRF2J57 |
| 0.37% | -- | TORONTO-DOMINION BANK | 4.46% | 06/08/2032 | -- | $1,052,782.33 | 1,173,000 | BQB7JS2 |
| 0.37% | -- | FIFTH THIRD BANCORP | 8.25% | 03/01/2038 | -- | $1,051,098.17 | 987,000 | B2Q1497 |
| 0.36% | -- | SUMITOMO MITSUI FINL GRP | 2.75% | 01/15/2030 | -- | $1,040,830.86 | 1,261,000 | BKY6S54 |
| 0.36% | -- | WILLIAMS COMPANIES INC | 6.30% | 04/15/2040 | -- | $1,034,478.55 | 1,056,000 | B3RZKK8 |
| 0.36% | -- | HALLIBURTON CO | 7.45% | 09/15/2039 | -- | $1,027,782.31 | 929,000 | B63S808 |
| 0.36% | -- | GENERAL ELECTRIC CO | 6.75% | 03/15/2032 | -- | $1,026,573.03 | 948,000 | 2859233 |
| 0.36% | -- | LLOYDS BANKING GROUP PLC | 4.34% | 01/09/2048 | -- | $1,025,564.10 | 1,500,000 | BFMYF65 |
| 0.36% | -- | BAKER HUGHES HLDGS LLC | 5.13% | 09/15/2040 | -- | $1,024,069.03 | 1,130,000 | B57Y827 |
| 0.35% | -- | MORGAN STANLEY | 6.38% | 07/24/2042 | -- | $1,012,485.88 | 980,000 | B7N7040 |
| 0.35% | -- | CITIGROUP INC | 6.63% | 06/15/2032 | -- | $1,004,988.66 | 1,001,000 | 7392227 |
| 0.35% | -- | ELEVANCE HEALTH INC | 4.65% | 01/15/2043 | -- | $1,004,251.93 | 1,197,000 | B88F2Y0 |
| 0.35% | -- | DUKE ENERGY FLORIDA LLC | 6.40% | 06/15/2038 | -- | $1,001,156.91 | 972,000 | B39XY20 |
| 0.35% | -- | BERKSHIRE HATHAWAY INC | 4.50% | 02/11/2043 | -- | $999,991.58 | 1,132,000 | B819DG8 |
| 0.35% | -- | JEFFERIES FIN GROUP INC | 4.15% | 01/23/2030 | -- | $995,779.68 | 1,130,000 | BD1DDP4 |
| 0.35% | -- | SHELL INTERNATIONAL FIN | 4.00% | 05/10/2046 | -- | $991,962.60 | 1,285,000 | BDB2XM8 |
| 0.35% | -- | WELLS FARGO BANK NA | 6.60% | 01/15/2038 | -- | $987,397.84 | 976,000 | B29SN65 |
| 0.34% | -- | ASCENSION HEALTH | 3.95% | 11/15/2046 | -- | $978,768.06 | 1,268,000 | BYYXY44 |
| 0.34% | -- | NOMURA HOLDINGS INC | 3.10% | 01/16/2030 | -- | $960,923.39 | 1,160,000 | BKRMRV8 |
| 0.33% | -- | PARAMOUNT GLOBAL | 4.38% | 03/15/2043 | -- | $957,039.47 | 1,484,000 | BCHWWF1 |
| 0.32% | -- | NOMURA HOLDINGS INC | 2.68% | 07/16/2030 | -- | $921,078.87 | 1,161,000 | BMVPRG2 |
| 0.32% | -- | RIO TINTO FIN USA LTD | 5.20% | 11/02/2040 | -- | $912,955.79 | 978,000 | B5TZB18 |
| 0.31% | -- | TOYOTA MOTOR CREDIT CORP | 3.38% | 04/01/2030 | -- | $879,275.24 | 995,000 | BL66P03 |
| 0.31% | -- | MOLSON COORS BEVERAGE | 5.00% | 05/01/2042 | -- | $876,157.58 | 1,017,000 | B82MC25 |
| 0.30% | -- | UNITEDHEALTH GROUP INC | 4.75% | 07/15/2045 | -- | $867,035.58 | 1,000,000 | BYTRVP1 |
| 0.30% | -- | VERIZON COMMUNICATIONS | 4.81% | 03/15/2039 | -- | $861,964.78 | 1,000,000 | BDFLJN4 |
| 0.30% | -- | COCA-COLA CO/THE | 3.45% | 03/25/2030 | -- | $861,053.40 | 952,000 | BLTZ7Y5 |
| 0.30% | -- | AMERICA MOVIL SAB DE CV | 4.38% | 07/16/2042 | -- | $855,381.47 | 1,061,000 | B6Z7568 |
| 0.30% | -- | SHELL INTERNATIONAL FIN | 4.55% | 08/12/2043 | -- | $849,904.70 | 1,003,000 | BCZQWS8 |
| 0.29% | -- | ORACLE CORP | 5.38% | 07/15/2040 | -- | $830,690.58 | 934,000 | B7FNML7 |
| 0.28% | -- | JOHN DEERE CAPITAL CORP | 4.70% | 06/10/2030 | -- | $792,340.30 | 825,000 | BRBD8Z7 |
| 0.28% | -- | AMERICAN EXPRESS CO | 4.05% | 12/03/2042 | -- | $792,236.06 | 997,000 | B968SP1 |
| 0.28% | -- | HSBC HOLDINGS PLC | 6.50% | 05/02/2036 | -- | $788,338.67 | 814,000 | B13VN63 |
| 0.27% | -- | MITSUBISHI UFJ FIN GRP | 2.05% | 07/17/2030 | -- | $779,268.31 | 998,000 | BL69JN3 |
| 0.27% | -- | PARAMOUNT GLOBAL | 6.88% | 04/30/2036 | -- | $777,653.26 | 856,000 | B1G5DX9 |
| 0.27% | -- | TARGET CORP | 4.00% | 07/01/2042 | -- | $769,151.89 | 948,000 | B8HK5Z8 |
| 0.27% | -- | MEDTRONIC INC | 4.38% | 03/15/2035 | -- | $767,166.93 | 848,000 | BYP6GR9 |
| 0.26% | -- | ING GROEP NV | 4.05% | 04/09/2029 | -- | $740,960.33 | 818,000 | BJFFD58 |
| 0.26% | -- | MIZUHO FINANCIAL GROUP | 2.56% | 09/13/2031 | -- | $740,603.19 | 982,000 | BNBYGX6 |
| 0.25% | -- | WELLS FARGO & COMPANY | 3.90% | 05/01/2045 | -- | $729,371.23 | 1,003,000 | BX2H0V0 |
| 0.25% | -- | NOMURA HOLDINGS INC | 2.61% | 07/14/2031 | -- | $727,846.72 | 952,000 | BP8JVG6 |
| 0.25% | -- | BANK OF AMERICA NA | 6.00% | 10/15/2036 | -- | $709,275.90 | 706,000 | B1G7Y98 |
| 0.24% | -- | GEORGIA POWER CO | 4.30% | 03/15/2042 | -- | $691,104.34 | 867,000 | B78K6L3 |
| 0.24% | -- | KINDER MORGAN INC | 7.75% | 01/15/2032 | -- | $674,688.76 | 623,000 | 2836399 |
| 0.22% | -- | WESTPAC BANKING CORP | 2.15% | 06/03/2031 | -- | $619,641.35 | 781,000 | BMWC8Z8 |
| 0.22% | -- | COCA-COLA CO/THE | 3.00% | 03/05/2051 | -- | $618,448.75 | 922,000 | BNTDCD7 |
| 0.21% | -- | PRUDENTIAL FUNDING ASIA | 3.13% | 04/14/2030 | -- | $601,087.15 | 704,000 | BPJLBD8 |
| 0.19% | -- | MITSUBISHI UFJ FIN GRP | 3.20% | 07/18/2029 | -- | $557,000.92 | 642,000 | BKFH1S0 |
| 0.19% | -- | TRANSCANADA PIPELINES | 7.63% | 01/15/2039 | -- | $548,103.16 | 500,000 | B3KV7R9 |
| 0.19% | -- | ASTRAZENECA PLC | 6.45% | 09/15/2037 | -- | $531,782.67 | 492,000 | B24FYQ8 |
| 0.18% | -- | GOLDMAN SACHS GROUP INC | 6.13% | 02/15/2033 | -- | $523,352.15 | 514,000 | 2350640 |
| 0.18% | -- | HSBC HOLDINGS PLC | 5.25% | 03/14/2044 | -- | $516,086.83 | 621,000 | BKJL6Z0 |
| 0.18% | -- | ROYAL BANK OF CANADA | 5.00% | 02/01/2033 | -- | $512,678.82 | 550,000 | BQ3Q0J5 |
| 0.18% | -- | BANK OF AMERICA CORP | 6.11% | 01/29/2037 | -- | $503,784.21 | 511,000 | B1P61P1 |
| 0.17% | -- | LOCKHEED MARTIN CORP | 4.07% | 12/15/2042 | -- | $499,735.94 | 611,000 | BBD6G92 |
| 0.16% | -- | CITIGROUP INC | 8.13% | 07/15/2039 | -- | $470,983.01 | 400,000 | B3Q88R1 |
| 0.16% | -- | PHILIP MORRIS INTL INC | 4.25% | 11/10/2044 | -- | $459,526.35 | 604,000 | BSHZYC3 |
| 0.15% | -- | BANK OF AMERICA CORP | 5.00% | 01/21/2044 | -- | $438,534.54 | 500,000 | BJ3WDS4 |
| 0.15% | -- | SOUTHERN COPPER CORP | 5.25% | 11/08/2042 | -- | $433,273.15 | 500,000 | B8ZRND5 |
| 0.14% | -- | COCA-COLA CO/THE | 2.50% | 03/15/2051 | -- | $412,875.08 | 694,000 | BLN8Y83 |
| 0.14% | -- | WYETH LLC | 5.95% | 04/01/2037 | -- | $410,039.44 | 400,000 | B1VQ7M4 |
| 0.14% | -- | MORGAN STANLEY | 4.30% | 01/27/2045 | -- | $394,799.79 | 500,000 | BVJXZY5 |
| 0.14% | -- | IBM CORP | 4.00% | 06/20/2042 | -- | $389,173.31 | 500,000 | B8J5PR3 |
| 0.13% | -- | TELEFONICA EMISIONES SAU | 4.90% | 03/06/2048 | -- | $379,006.75 | 500,000 | BF2TMG9 |
| 0.12% | -- | WELLS FARGO & COMPANY | 5.38% | 11/02/2043 | -- | $347,108.68 | 400,000 | BFVGYC1 |
| 0.12% | -- | GOLDMAN SACHS GROUP INC | 6.75% | 10/01/2037 | -- | $345,301.00 | 342,000 | B283338 |
| 0.12% | -- | EATON CORP | 4.15% | 11/02/2042 | -- | $340,849.11 | 419,000 | BGLPFR7 |
| 0.12% | -- | WESTPAC BANKING CORP | 2.96% | 11/16/2040 | -- | $336,827.10 | 556,000 | BMX5050 |
| 0.11% | -- | ROYAL BANK OF CANADA | 3.88% | 05/04/2032 | -- | $322,367.54 | 370,000 | BP4CQX1 |
| 0.11% | -- | JPMORGAN CHASE & CO | 4.85% | 02/01/2044 | -- | $314,958.03 | 364,000 | BJ62ZG3 |
| 0.10% | -- | COCA-COLA CO/THE | 2.50% | 06/01/2040 | -- | $289,720.30 | 427,000 | BKSJPT2 |
| 0.10% | -- | COOPERATIEVE RABOBANK UA | 5.25% | 05/24/2041 | -- | $275,374.23 | 288,000 | B44YJW0 |
| 0.09% | -- | APPLE INC | 3.85% | 05/04/2043 | -- | $259,304.56 | 321,000 | B8HTMS7 |
| 0.09% | -- | PROCTER & GAMBLE CO/THE | 1.95% | 04/23/2031 | -- | $252,705.45 | 312,000 | BM9CQB3 |
| 0.09% | -- | ORACLE CORP | 6.13% | 07/08/2039 | -- | $245,977.37 | 255,000 | B3LR141 |
| 0.08% | -- | GENERAL MOTORS CO | 5.20% | 04/01/2045 | -- | $227,045.83 | 293,000 | BSKDLG7 |
| 0.07% | -- | COOPERATIEVE RABOBANK UA | 5.25% | 08/04/2045 | -- | $206,073.00 | 240,000 | BYWZXG7 |
| 0.07% | -- | MERCK & CO INC | 4.15% | 05/18/2043 | -- | $189,892.32 | 228,000 | B9D69N3 |
| 0.07% | -- | SOUTHERN COPPER CORP | 5.88% | 04/23/2045 | -- | $187,822.40 | 200,000 | BWXV3J3 |
| 0.06% | -- | BANCO SANTANDER SA | 3.31% | 06/27/2029 | -- | $182,089.40 | 210,000 | BKDK9G5 |
| 0.05% | -- | IBM CORP | 3.50% | 05/15/2029 | -- | $138,177.84 | 153,000 | BFY97H3 |
| 0.04% | -- | COCA-COLA CO/THE | 2.60% | 06/01/2050 | -- | $105,569.28 | 173,000 | BKSJPS1 |
| 0.04% | -- | VALE OVERSEAS LIMITED | 6.88% | 11/10/2039 | -- | $100,633.50 | 100,000 | B5B54D9 |
| 0.03% | -- | TIME WARNER CABLE LLC | 6.55% | 05/01/2037 | -- | $89,539.21 | 99,000 | B28WMV6 |
| 0.03% | -- | SUMITOMO MITSUI FINL GRP | 2.22% | 09/17/2031 | -- | $87,841.40 | 116,000 | BMHLCZ8 |
| 0.01% | -- | ASTRAZENECA PLC | 4.38% | 11/16/2045 | -- | $41,914.64 | 50,000 | BYQNQH9 |
| 0.01% | -- | VODAFONE GROUP PLC | 4.88% | 06/19/2049 | -- | $39,983.50 | 50,000 | BK6WV73 |
| 0.01% | -- | APPLE INC | 4.45% | 05/06/2044 | -- | $17,838.62 | 20,000 | BM6NVC5 |
| -- | -- | COCA-COLA CO/THE | 1.38% | 03/15/2031 | -- | $9,153.84 | 12,000 | BLR6S70 |
| -- | -- | PFIZER INC | 4.13% | 12/15/2046 | -- | $4,844.69 | 6,000 | BZ3FFH8 |
| -- | -- | JPMORGAN CHASE & CO | 4.95% | 06/01/2045 | -- | $4,278.82 | 5,000 | BY8L4X3 |
| -- | -- | VERIZON COMMUNICATIONS | 4.86% | 08/21/2046 | -- | $4,154.98 | 5,000 | BWC4YL2 |
| -- | -- | WALMART INC | 5.25% | 09/01/2035 | -- | $2,997.83 | 3,000 | B0J45R4 |
| -- | -- | NET OTHER ASSETS (LIABILITIES) | -- | -- | -- | $18,806,869.13 | 18,806,869 | -- |
| -4.47% | -- | US ULTRA BOND CBT BOND 19/DEC/2023 WNZ3 COMDTY | -- | -- | -12,777,750 | -- | -108 | -- |
| -27.18% | -- | US 10YR NOTE (CBT) BOND 19/DEC/2023 TYZ3 COMDTY | -- | -- | -77,766,609 | -- | -721 | -- |
| -58.72% | -- | US LONG BOND(CBT) BOND 19/DEC/2023 USZ3 COMDTY | -- | -- | -167,980,000 | -- | -1,480 | -- |
Index
as of 6/30/2023
- Total Number of Issues218
- Long Portfolio Duration9.93
- Net Effective Duration0.12
- Long Portfolio Yield5.45
- Net Index Yield1.52
About the Index
The index is comprised of (a) long positions in USD-denominated investment grade corporate bonds issued by both U.S. and foreign domiciled companies; and (b) short positions in U.S. Treasury notes or bonds ("Treasury Securities") of, in aggregate, approximate equivalent duration to the investment grade bonds. In entering these positions, the index seeks to achieve an overall effective duration of zero.
By taking short Treasury Security positions (of an aggregate dollar value not exceeding the aggregate dollar value of the fund's assets), the index seeks to mitigate the potential negative impact of rising Treasury interest rates ("interest rates") on the performance of investment grade 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 investment grade bonds, such as credit risk, which may have a greater impact than rising or falling interest rates.
The long investment grade bond positions included in the index are designed to represent the more liquid universe of investment grade bonds offered within the United States. Currently, the bonds eligible for inclusion in the index include all investment grade bonds that are issued by U.S. and internationally domiciled companies that are: fixed rate; have a minimum rating of Baa3/BBB- by both Moody's Investors Service, Inc. ("Moody's") and Standard and Poor's Financial Services, LLC ("S&P"); have a minimum face amount outstanding of $1 billion; and have at least five and a half (5.5) years until maturity.
The index is reconstituted and rebalanced (including a reset of the interest rate hedge) 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 |
|---|