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.
-
Generally offers lower interest rate sensitivity than short-term bonds by targeting a duration of zero.
View all Fund
detail sections
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
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
Month-End Total Returns as
of 12/31/2021
| Fund | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| IGHG NAV | 0.81% | -0.82% | -1.16% | 1.23% | 1.23% | 4.71% | 3.02% | -- | 2.52% | 11/05/2013 |
| IGHG Market Price | 0.77% | -0.83% | -1.40% | 0.88% | 0.88% | 4.59% | 2.80% | -- | 2.50% | 11/05/2013 |
| Fund | 1m | 3m | 6m | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Inception Date |
|---|---|---|---|---|---|---|---|---|---|---|
| IGHG NAV | 0.81% | -0.82% | -1.16% | 1.23% | 1.23% | 4.71% | 3.02% | -- | 2.52% | 11/05/2013 |
| IGHG Market Price | 0.77% | -0.83% | -1.40% | 0.88% | 0.88% | 4.59% | 2.80% | -- | 2.50% | 11/05/2013 |
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
- Unitary Expense Ratio 0.30%
- NAV Calculation Time 3:00 p.m. ET
- Distributions Monthly
Characteristics
as of 12/31/2021- Number of Companies 247
- Distribution Yield 2.82%
- SEC 30-Day Yield 2.48%
Price
as of 1/26/2022- NAV $73.86
- NAV Change
+$0.15
- Market Price $73.54
- Market Price Change
-$0.24
- Trading Volume (M) 187,249
- 30-Day Median Bid Ask Spread 0.11%
- 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 12/31/2021- Number of Companies 247
- Distribution Yield 2.82%
- SEC 30-Day Yield 2.48%
Price
as of 1/26/2022- NAV $73.86
- NAV Change
+$0.15
- Market Price $73.54
- Market Price Change
-$0.24
- Trading Volume (M) 187,249
- 30-Day Median Bid Ask Spread 0.11%
- View Premium / Discount
Exposures
Index as of 12/31/2021
Holdings
as of 1/26/2022
| Weight | Ticker | Description | Coupon Rate | Maturity Date | Exposure Value (Notional + GL) |
Market Value | Shares/Contracts |
|---|---|---|---|---|---|---|---|
| 6.44% | -- | NET OTHER ASSETS / CASH | -- | -- | -- | $69,191,097.46 | 69,191,097 |
| 1.49% | -- | GE CAPITAL INTL FUNDING | 4.42% | 11/15/2035 | -- | $15,996,090.09 | 14,107,000 |
| 1.39% | -- | GOLDMAN SACHS GROUP INC | 6.75% | 10/01/2037 | -- | $14,878,509.93 | 11,015,000 |
| 1.18% | -- | CISCO SYSTEMS INC | 5.90% | 02/15/2039 | -- | $12,622,025.64 | 9,242,000 |
| 0.95% | -- | PFIZER INC | 7.20% | 03/15/2039 | -- | $10,237,562.03 | 6,671,000 |
| 0.94% | -- | ASTRAZENECA PLC | 6.45% | 09/15/2037 | -- | $10,083,865.44 | 7,164,000 |
| 0.90% | -- | GLAXOSMITHKLINE CAP INC | 6.38% | 05/15/2038 | -- | $9,710,128.77 | 6,905,000 |
| 0.90% | -- | CITIGROUP INC | 4.45% | 09/29/2027 | -- | $9,656,478.35 | 8,874,000 |
| 0.88% | -- | GENERAL ELECTRIC CO | 6.75% | 03/15/2032 | -- | $9,455,850.69 | 7,196,000 |
| 0.87% | -- | IBM CORP | 3.50% | 05/15/2029 | -- | $9,296,482.39 | 8,801,000 |
| 0.86% | -- | HOME DEPOT INC | 5.88% | 12/16/2036 | -- | $9,189,333.66 | 6,806,000 |
| 0.83% | -- | BANK OF AMERICA CORP | 5.88% | 02/07/2042 | -- | $8,950,172.55 | 6,651,000 |
| 0.83% | -- | CONOCOPHILLIPS | 6.50% | 02/01/2039 | -- | $8,861,094.47 | 6,340,000 |
| 0.77% | -- | VODAFONE GROUP PLC | 5.25% | 05/30/2048 | -- | $8,299,354.83 | 6,812,000 |
| 0.71% | -- | ORACLE CORP | 6.50% | 04/15/2038 | -- | $7,659,569.62 | 6,035,000 |
| 0.70% | -- | VODAFONE GROUP PLC | 4.38% | 05/30/2028 | -- | $7,554,339.09 | 6,871,000 |
| 0.70% | -- | APPLE INC | 4.38% | 05/13/2045 | -- | $7,526,739.74 | 6,297,000 |
| 0.70% | -- | ALLY FINANCIAL INC | 8.00% | 11/01/2031 | -- | $7,481,199.32 | 5,512,000 |
| 0.69% | -- | WELLS FARGO & COMPANY | 5.38% | 11/02/2043 | -- | $7,374,241.18 | 5,929,000 |
| 0.68% | -- | TELEFONICA EMISIONES SAU | 5.21% | 03/08/2047 | -- | $7,337,435.87 | 6,266,000 |
| 0.68% | -- | RAYTHEON TECH CORP | 4.50% | 06/01/2042 | -- | $7,282,523.35 | 6,274,000 |
| 0.67% | -- | MORGAN STANLEY | 4.38% | 01/22/2047 | -- | $7,161,348.27 | 6,105,000 |
| 0.66% | -- | HSBC HOLDINGS PLC | 5.25% | 03/14/2044 | -- | $7,055,013.31 | 5,804,000 |
| 0.65% | -- | HSBC HOLDINGS PLC | 6.50% | 05/02/2036 | -- | $7,025,358.45 | 5,385,000 |
| 0.65% | -- | AMERICA MOVIL SAB DE CV | 6.13% | 03/30/2040 | -- | $6,952,455.17 | 5,252,000 |
| 0.64% | -- | UNITED PARCEL SERVICE | 6.20% | 01/15/2038 | -- | $6,824,477.28 | 4,922,000 |
| 0.62% | -- | TWDC ENTERPRISES 18 CORP | 4.13% | 06/01/2044 | -- | $6,655,123.39 | 5,994,000 |
| 0.62% | -- | COCA-COLA CO/THE | 2.50% | 06/01/2040 | -- | $6,609,784.79 | 7,059,000 |
| 0.61% | -- | BHP BILLITON FIN USA LTD | 5.00% | 09/30/2043 | -- | $6,550,563.97 | 5,266,000 |
| 0.61% | -- | COOPERATIEVE RABOBANK UA | 5.25% | 05/24/2041 | -- | $6,532,964.26 | 4,945,000 |
| 0.60% | -- | SHELL INTERNATIONAL FIN | 3.75% | 09/12/2046 | -- | $6,460,501.87 | 6,043,000 |
| 0.60% | -- | IBM CORP | 4.15% | 05/15/2039 | -- | $6,397,351.06 | 5,849,000 |
| 0.59% | -- | SUMITOMO MITSUI FINL GRP | 3.04% | 07/16/2029 | -- | $6,319,087.59 | 6,220,000 |
| 0.59% | -- | MORGAN STANLEY | 6.38% | 07/24/2042 | -- | $6,283,607.22 | 4,380,000 |
| 0.58% | -- | VERIZON COMMUNICATIONS | 4.86% | 08/21/2046 | -- | $6,191,940.86 | 5,087,000 |
| 0.58% | -- | TIME WARNER CABLE LLC | 6.55% | 05/01/2037 | -- | $6,186,932.58 | 4,974,000 |
| 0.57% | -- | WYETH LLC | 5.95% | 04/01/2037 | -- | $6,120,656.28 | 4,581,000 |
| 0.57% | -- | GOLDMAN SACHS GROUP INC | 6.25% | 02/01/2041 | -- | $6,078,104.94 | 4,432,000 |
| 0.56% | -- | GOLDMAN SACHS GROUP INC | 5.15% | 05/22/2045 | -- | $6,057,414.37 | 4,981,000 |
| 0.56% | -- | HSBC HOLDINGS PLC | 4.95% | 03/31/2030 | -- | $6,001,096.75 | 5,277,000 |
| 0.55% | -- | MEDTRONIC INC | 4.38% | 03/15/2035 | -- | $5,924,632.51 | 5,065,000 |
| 0.55% | -- | COCA-COLA CO/THE | 3.45% | 03/25/2030 | -- | $5,881,553.16 | 5,485,000 |
| 0.54% | -- | PHILIP MORRIS INTL INC | 6.38% | 05/16/2038 | -- | $5,849,316.22 | 4,371,000 |
| 0.54% | -- | BANK OF AMERICA CORP | 6.11% | 01/29/2037 | -- | $5,770,221.43 | 4,460,000 |
| 0.54% | -- | CITIGROUP INC | 4.13% | 07/25/2028 | -- | $5,767,443.83 | 5,385,000 |
| 0.54% | -- | MORGAN STANLEY | 4.30% | 01/27/2045 | -- | $5,757,924.06 | 4,992,000 |
| 0.53% | -- | BANK OF AMERICA CORP | 7.75% | 05/14/2038 | -- | $5,730,724.20 | 3,827,000 |
| 0.53% | -- | ABBVIE INC | 4.40% | 11/06/2042 | -- | $5,704,345.48 | 5,062,000 |
| 0.53% | -- | ALTRIA GROUP INC | 5.38% | 01/31/2044 | -- | $5,699,072.41 | 5,187,000 |
| 0.53% | -- | JPMORGAN CHASE & CO | 5.63% | 08/16/2043 | -- | $5,691,610.79 | 4,323,000 |
| 0.53% | -- | MITSUBISHI UFJ FIN GRP | 4.05% | 09/11/2028 | -- | $5,659,448.28 | 5,196,000 |
| 0.52% | -- | CISCO SYSTEMS INC | 5.50% | 01/15/2040 | -- | $5,624,385.69 | 4,234,000 |
| 0.51% | -- | JPMORGAN CHASE & CO | 5.60% | 07/15/2041 | -- | $5,487,798.32 | 4,177,000 |
| 0.49% | -- | SHELL INTERNATIONAL FIN | 4.38% | 05/11/2045 | -- | $5,313,487.27 | 4,604,000 |
| 0.49% | -- | HSBC HOLDINGS PLC | 6.50% | 09/15/2037 | -- | $5,305,113.25 | 4,007,000 |
| 0.49% | -- | JOHNSON & JOHNSON | 5.95% | 08/15/2037 | -- | $5,278,493.74 | 3,836,000 |
| 0.49% | -- | SHELL INTERNATIONAL FIN | 6.38% | 12/15/2038 | -- | $5,225,290.46 | 3,744,000 |
| 0.48% | -- | SOUTHERN COPPER CORP | 5.25% | 11/08/2042 | -- | $5,182,225.00 | 4,274,000 |
| 0.48% | -- | VALE OVERSEAS LIMITED | 6.88% | 11/21/2036 | -- | $5,167,446.40 | 4,027,000 |
| 0.48% | -- | VODAFONE GROUP PLC | 5.00% | 05/30/2038 | -- | $5,160,072.94 | 4,391,000 |
| 0.48% | -- | SUMITOMO MITSUI FINL GRP | 2.13% | 07/08/2030 | -- | $5,144,892.01 | 5,437,000 |
| 0.48% | -- | APPLE INC | 3.85% | 05/04/2043 | -- | $5,133,444.00 | 4,648,000 |
| 0.47% | -- | TIME WARNER CABLE LLC | 7.30% | 07/01/2038 | -- | $5,098,037.21 | 3,823,000 |
| 0.46% | -- | NOVARTIS CAPITAL CORP | 4.40% | 05/06/2044 | -- | $4,992,494.06 | 4,140,000 |
| 0.46% | -- | VODAFONE GROUP PLC | 4.88% | 06/19/2049 | -- | $4,977,026.90 | 4,245,000 |
| 0.46% | -- | WALMART INC | 6.50% | 08/15/2037 | -- | $4,971,775.82 | 3,376,000 |
| 0.46% | -- | TELEFONICA EMISIONES SAU | 4.90% | 03/06/2048 | -- | $4,956,931.71 | 4,388,000 |
| 0.46% | -- | SHELL INTERNATIONAL FIN | 5.50% | 03/25/2040 | -- | $4,911,566.92 | 3,800,000 |
| 0.45% | -- | COMCAST CORP | 4.25% | 01/15/2033 | -- | $4,814,254.49 | 4,275,000 |
| 0.45% | -- | CREDIT SUISSE GROUP AG | 4.88% | 05/15/2045 | -- | $4,796,822.25 | 4,133,000 |
| 0.44% | -- | MITSUBISHI UFJ FIN GRP | 2.56% | 02/25/2030 | -- | $4,777,574.98 | 4,881,000 |
| 0.44% | -- | IBM CORP | 4.25% | 05/15/2049 | -- | $4,760,003.85 | 4,214,000 |
| 0.44% | -- | LOCKHEED MARTIN CORP | 4.07% | 12/15/2042 | -- | $4,678,972.14 | 4,170,000 |
| 0.42% | -- | DAIMLER FINANCE NA LLC | 8.50% | 01/18/2031 | -- | $4,531,113.76 | 3,132,000 |
| 0.42% | -- | WALMART INC | 5.25% | 09/01/2035 | -- | $4,504,293.03 | 3,464,000 |
| 0.42% | -- | TELEFONICA EMISIONES SAU | 7.05% | 06/20/2036 | -- | $4,502,819.17 | 3,301,000 |
| 0.42% | -- | PHILLIPS 66 | 5.88% | 05/01/2042 | -- | $4,481,745.81 | 3,410,000 |
| 0.41% | -- | PROCTER & GAMBLE CO/THE | 3.00% | 03/25/2030 | -- | $4,407,081.97 | 4,190,000 |
| 0.41% | -- | WELLS FARGO & COMPANY | 3.90% | 05/01/2045 | -- | $4,405,070.15 | 4,076,000 |
| 0.41% | -- | PRUDENTIAL PLC | 3.13% | 04/14/2030 | -- | $4,404,567.84 | 4,244,000 |
| 0.41% | -- | BANCO SANTANDER SA | 3.31% | 06/27/2029 | -- | $4,404,527.41 | 4,264,000 |
| 0.41% | -- | CENOVUS ENERGY INC | 6.75% | 11/15/2039 | -- | $4,361,521.83 | 3,327,000 |
| 0.41% | -- | VALERO ENERGY CORP | 6.63% | 06/15/2037 | -- | $4,353,999.36 | 3,357,000 |
| 0.40% | -- | ANHEUSER-BUSCH INBEV WOR | 4.95% | 01/15/2042 | -- | $4,339,572.69 | 3,642,000 |
| 0.40% | -- | VERIZON COMMUNICATIONS | 5.25% | 03/16/2037 | -- | $4,319,702.14 | 3,485,000 |
| 0.40% | -- | WALT DISNEY COMPANY/THE | 6.65% | 11/15/2037 | -- | $4,317,660.88 | 3,064,000 |
| 0.40% | -- | UNITEDHEALTH GROUP INC | 4.75% | 07/15/2045 | -- | $4,317,270.79 | 3,538,000 |
| 0.40% | -- | DUKE ENERGY FLORIDA LLC | 6.40% | 06/15/2038 | -- | $4,309,976.85 | 3,122,000 |
| 0.40% | -- | CATERPILLAR INC | 3.80% | 08/15/2042 | -- | $4,259,300.16 | 3,840,000 |
| 0.39% | -- | VIACOMCBS INC | 4.38% | 03/15/2043 | -- | $4,231,089.22 | 3,971,000 |
| 0.39% | -- | JPMORGAN CHASE & CO | 5.40% | 01/06/2042 | -- | $4,191,210.10 | 3,256,000 |
| 0.39% | -- | SOUTHERN COPPER CORP | 5.88% | 04/23/2045 | -- | $4,185,632.00 | 3,200,000 |
| 0.38% | -- | COOPERATIEVE RABOBANK UA | 5.25% | 08/04/2045 | -- | $4,099,384.40 | 3,288,000 |
| 0.38% | -- | WELLS FARGO & COMPANY | 4.30% | 07/22/2027 | -- | $4,097,729.95 | 3,752,000 |
| 0.38% | -- | NETFLIX INC | 5.88% | 11/15/2028 | -- | $4,097,187.50 | 3,500,000 |
| 0.38% | -- | NOMURA HOLDINGS INC | 3.10% | 01/16/2030 | -- | $4,070,782.28 | 4,071,000 |
| 0.38% | -- | BARCLAYS PLC | 4.95% | 01/10/2047 | -- | $4,035,607.26 | 3,388,000 |
| 0.37% | -- | KRAFT HEINZ FOODS CO | 5.00% | 06/04/2042 | -- | $4,020,461.96 | 3,458,000 |
| 0.37% | -- | GENERAL MOTORS CO | 5.20% | 04/01/2045 | -- | $4,019,553.27 | 3,470,000 |
| 0.37% | -- | SHELL INTERNATIONAL FIN | 4.00% | 05/10/2046 | -- | $4,004,815.80 | 3,611,000 |
| 0.37% | -- | MEDTRONIC INC | 4.63% | 03/15/2045 | -- | $3,999,225.40 | 3,265,000 |
| 0.37% | -- | ECOPETROL SA | 5.88% | 05/28/2045 | -- | $3,977,915.50 | 4,490,000 |
| 0.37% | -- | CITIGROUP INC | 8.13% | 07/15/2039 | -- | $3,965,089.24 | 2,444,000 |
| 0.37% | -- | NOMURA HOLDINGS INC | 2.68% | 07/16/2030 | -- | $3,956,387.60 | 4,094,000 |
| 0.37% | -- | COCA-COLA CO/THE | 3.00% | 03/05/2051 | -- | $3,931,236.25 | 4,017,000 |
| 0.36% | -- | BARCLAYS PLC | 5.25% | 08/17/2045 | -- | $3,906,157.99 | 3,187,000 |
| 0.36% | -- | LLOYDS BANKING GROUP PLC | 4.38% | 03/22/2028 | -- | $3,892,934.80 | 3,565,000 |
| 0.36% | -- | CONOCOPHILLIPS HLDG CO | 6.95% | 04/15/2029 | -- | $3,877,690.74 | 3,038,000 |
| 0.36% | -- | GOLDMAN SACHS GROUP INC | 6.13% | 02/15/2033 | -- | $3,875,594.08 | 3,047,000 |
| 0.36% | -- | NETFLIX INC | 4.88% | 04/15/2028 | -- | $3,873,625.00 | 3,500,000 |
| 0.36% | -- | WEYERHAEUSER CO | 7.38% | 03/15/2032 | -- | $3,869,161.83 | 2,844,000 |
| 0.36% | -- | ING GROEP NV | 4.05% | 04/09/2029 | -- | $3,857,247.18 | 3,556,000 |
| 0.36% | -- | AXA SA | 8.60% | 12/15/2030 | -- | $3,829,547.65 | 2,729,000 |
| 0.35% | -- | TIME WARNER CABLE LLC | 6.75% | 06/15/2039 | -- | $3,796,191.94 | 2,965,000 |
| 0.35% | -- | APPLE INC | 3.45% | 02/09/2045 | -- | $3,785,724.57 | 3,609,000 |
| 0.35% | -- | UNITEDHEALTH GROUP INC | 4.63% | 07/15/2035 | -- | $3,776,944.40 | 3,197,000 |
| 0.35% | -- | ORACLE CORP | 5.38% | 07/15/2040 | -- | $3,764,146.62 | 3,314,000 |
| 0.35% | -- | GENERAL MOTORS CO | 6.25% | 10/02/2043 | -- | $3,751,627.96 | 2,925,000 |
| 0.35% | -- | JPMORGAN CHASE & CO | 6.40% | 05/15/2038 | -- | $3,749,942.20 | 2,693,000 |
| 0.35% | -- | SOUTHERN COPPER CORP | 6.75% | 04/16/2040 | -- | $3,718,120.00 | 2,744,000 |
| 0.35% | -- | VERIZON COMMUNICATIONS | 4.52% | 09/15/2048 | -- | $3,715,425.07 | 3,143,000 |
| 0.34% | -- | HSBC HOLDINGS PLC | 6.80% | 06/01/2038 | -- | $3,703,492.11 | 2,720,000 |
| 0.34% | -- | SUMITOMO MITSUI FINL GRP | 2.75% | 01/15/2030 | -- | $3,667,819.92 | 3,681,000 |
| 0.34% | -- | WESTPAC BANKING CORP | 2.96% | 11/16/2040 | -- | $3,665,116.47 | 3,970,000 |
| 0.34% | -- | CANADIAN NATL RESOURCES | 6.25% | 03/15/2038 | -- | $3,644,303.54 | 2,875,000 |
| 0.34% | -- | WILLIAMS COMPANIES INC | 6.30% | 04/15/2040 | -- | $3,644,110.40 | 2,836,000 |
| 0.34% | -- | FIFTH THIRD BANCORP | 8.25% | 03/01/2038 | -- | $3,639,520.87 | 2,309,000 |
| 0.33% | -- | CNOOC FINANCE 2015 US | 4.38% | 05/02/2028 | -- | $3,571,607.70 | 3,232,000 |
| 0.33% | -- | HP INC | 6.00% | 09/15/2041 | -- | $3,560,282.70 | 2,827,000 |
| 0.33% | -- | TRANSCANADA PIPELINES | 6.20% | 10/15/2037 | -- | $3,509,265.98 | 2,712,000 |
| 0.33% | -- | HALLIBURTON CO | 7.45% | 09/15/2039 | -- | $3,493,480.60 | 2,450,000 |
| 0.32% | -- | TELEFONICA EUROPE BV | 8.25% | 09/15/2030 | -- | $3,484,989.71 | 2,530,000 |
| 0.32% | -- | KINDER MORGAN ENER PART | 6.95% | 01/15/2038 | -- | $3,473,222.16 | 2,627,000 |
| 0.32% | -- | HESS CORP | 5.60% | 02/15/2041 | -- | $3,451,641.45 | 2,886,000 |
| 0.32% | -- | WELLS FARGO & COMPANY | 5.61% | 01/15/2044 | -- | $3,449,957.75 | 2,721,000 |
| 0.32% | -- | VERIZON COMMUNICATIONS | 4.50% | 08/10/2033 | -- | $3,413,517.76 | 3,026,000 |
| 0.32% | -- | LLOYDS BANKING GROUP PLC | 4.34% | 01/09/2048 | -- | $3,408,658.80 | 3,159,000 |
| 0.32% | -- | GLAXOSMITHKLINE CAP INC | 3.88% | 05/15/2028 | -- | $3,400,373.83 | 3,131,000 |
| 0.31% | -- | SUNCOR ENERGY INC | 6.50% | 06/15/2038 | -- | $3,382,038.45 | 2,570,000 |
| 0.31% | -- | WESTPAC BANKING CORP | 4.42% | 07/24/2039 | -- | $3,378,237.75 | 3,030,000 |
| 0.31% | -- | UNILEVER CAPITAL CORP | 5.90% | 11/15/2032 | -- | $3,376,408.90 | 2,632,000 |
| 0.31% | -- | WELLS FARGO & COMPANY | 4.75% | 12/07/2046 | -- | $3,367,043.68 | 2,880,000 |
| 0.31% | -- | MIZUHO FINANCIAL GROUP | 3.17% | 09/11/2027 | -- | $3,362,920.63 | 3,263,000 |
| 0.31% | -- | UNITEDHEALTH GROUP INC | 3.85% | 06/15/2028 | -- | $3,342,276.43 | 3,072,000 |
| 0.31% | -- | PNC BANK NA | 4.05% | 07/26/2028 | -- | $3,340,912.45 | 3,059,000 |
| 0.31% | -- | COCA-COLA CO/THE | 2.13% | 09/06/2029 | -- | $3,334,632.36 | 3,377,000 |
| 0.30% | -- | BERKSHIRE HATHAWAY ENERG | 6.13% | 04/01/2036 | -- | $3,270,342.15 | 2,485,000 |
| 0.30% | -- | TRANSCANADA PIPELINES | 7.63% | 01/15/2039 | -- | $3,265,234.19 | 2,226,000 |
| 0.30% | -- | RIO TINTO FIN USA LTD | 5.20% | 11/02/2040 | -- | $3,259,213.38 | 2,577,000 |
| 0.30% | -- | METLIFE INC | 5.70% | 06/15/2035 | -- | $3,241,504.59 | 2,514,000 |
| 0.30% | -- | SUMITOMO MITSUI FINL GRP | 2.22% | 09/17/2031 | -- | $3,235,208.34 | 3,420,000 |
| 0.30% | -- | WESTPAC BANKING CORP | 3.40% | 01/25/2028 | -- | $3,228,078.18 | 3,052,000 |
| 0.30% | -- | VERIZON COMMUNICATIONS | 4.27% | 01/15/2036 | -- | $3,209,098.02 | 2,881,000 |
| 0.30% | -- | BANK OF AMERICA NA | 6.00% | 10/15/2036 | -- | $3,208,540.71 | 2,462,000 |
| 0.30% | -- | JPMORGAN CHASE & CO | 4.25% | 10/01/2027 | -- | $3,206,429.81 | 2,942,000 |
| 0.30% | -- | MITSUBISHI UFJ FIN GRP | 3.74% | 03/07/2029 | -- | $3,201,145.23 | 3,015,000 |
| 0.30% | -- | AT&T INC | 5.35% | 09/01/2040 | -- | $3,186,581.42 | 2,658,000 |
| 0.30% | -- | VALE OVERSEAS LIMITED | 6.88% | 11/10/2039 | -- | $3,179,647.80 | 2,454,000 |
| 0.30% | -- | VERIZON COMMUNICATIONS | 4.81% | 03/15/2039 | -- | $3,170,294.88 | 2,692,000 |
| 0.29% | -- | METLIFE INC | 4.05% | 03/01/2045 | -- | $3,165,796.44 | 2,802,000 |
| 0.29% | -- | BHP BILLITON FIN USA LTD | 4.13% | 02/24/2042 | -- | $3,163,269.90 | 2,840,000 |
| 0.29% | -- | MITSUBISHI UFJ FIN GRP | 3.96% | 03/02/2028 | -- | $3,153,758.78 | 2,921,000 |
| 0.29% | -- | JEFFERIES GRP LLC / CAP | 4.15% | 01/23/2030 | -- | $3,152,390.19 | 2,942,000 |
| 0.29% | -- | LLOYDS BANKING GROUP PLC | 4.55% | 08/16/2028 | -- | $3,114,750.47 | 2,814,000 |
| 0.29% | -- | MIZUHO FINANCIAL GROUP | 4.02% | 03/05/2028 | -- | $3,105,361.60 | 2,872,000 |
| 0.29% | -- | PFIZER INC | 4.13% | 12/15/2046 | -- | $3,103,055.11 | 2,672,000 |
| 0.28% | -- | JPMORGAN CHASE & CO | 5.50% | 10/15/2040 | -- | $3,056,711.85 | 2,375,000 |
| 0.28% | -- | SHELL INTERNATIONAL FIN | 4.13% | 05/11/2035 | -- | $3,045,671.92 | 2,721,000 |
| 0.28% | -- | BAKER HUGHES HLDGS LLC | 5.13% | 09/15/2040 | -- | $3,011,751.50 | 2,531,000 |
| 0.28% | -- | BERKSHIRE HATHAWAY INC | 4.50% | 02/11/2043 | -- | $3,009,261.21 | 2,558,000 |
| 0.28% | -- | WALT DISNEY COMPANY/THE | 2.20% | 01/13/2028 | -- | $3,006,064.14 | 3,024,000 |
| 0.28% | -- | WELLS FARGO & COMPANY | 4.40% | 06/14/2046 | -- | $2,993,357.39 | 2,687,000 |
| 0.27% | -- | VODAFONE GROUP PLC | 4.25% | 09/17/2050 | -- | $2,942,652.67 | 2,711,000 |
| 0.27% | -- | VIACOMCBS INC | 6.88% | 04/30/2036 | -- | $2,923,349.49 | 2,134,000 |
| 0.27% | -- | UNITEDHEALTH GROUP INC | 2.00% | 05/15/2030 | -- | $2,923,068.09 | 3,060,000 |
| 0.27% | -- | ASTRAZENECA PLC | 4.00% | 09/18/2042 | -- | $2,917,563.52 | 2,590,000 |
| 0.27% | -- | JPMORGAN CHASE & CO | 4.95% | 06/01/2045 | -- | $2,912,125.86 | 2,377,000 |
| 0.27% | -- | MOLSON COORS BEVERAGE | 5.00% | 05/01/2042 | -- | $2,901,371.92 | 2,530,000 |
| 0.27% | -- | KINDER MORGAN INC/DELAWA | 7.75% | 01/15/2032 | -- | $2,890,302.99 | 2,121,000 |
| 0.27% | -- | CITIGROUP INC | 4.65% | 07/30/2045 | -- | $2,882,317.59 | 2,437,000 |
| 0.27% | -- | WESTPAC BANKING CORP | 1.95% | 11/20/2028 | -- | $2,870,467.89 | 2,952,000 |
| 0.26% | -- | PROCTER & GAMBLE CO/THE | 1.20% | 10/29/2030 | -- | $2,805,157.12 | 3,063,000 |
| 0.26% | -- | EATON CORP | 4.15% | 11/02/2042 | -- | $2,803,797.33 | 2,499,000 |
| 0.25% | -- | MERCK & CO INC | 4.15% | 05/18/2043 | -- | $2,737,543.03 | 2,387,000 |
| 0.25% | -- | CNOOC PETROLEUM NORTH | 6.40% | 05/15/2037 | -- | $2,736,845.22 | 2,144,000 |
| 0.25% | -- | TARGET CORP | 4.00% | 07/01/2042 | -- | $2,710,428.96 | 2,359,000 |
| 0.25% | -- | ASCENSION HEALTH | 3.95% | 11/15/2046 | -- | $2,706,939.62 | 2,339,000 |
| 0.25% | -- | TOTALENERGIES CAPITAL SA | 3.88% | 10/11/2028 | -- | $2,647,585.76 | 2,441,000 |
| 0.25% | -- | GEORGIA POWER CO | 4.30% | 03/15/2042 | -- | $2,632,805.07 | 2,429,000 |
| 0.24% | -- | BANCO SANTANDER SA | 4.38% | 04/12/2028 | -- | $2,612,395.94 | 2,402,000 |
| 0.24% | -- | VERIZON COMMUNICATIONS | 4.33% | 09/21/2028 | -- | $2,609,865.75 | 2,362,000 |
| 0.24% | -- | CITIGROUP INC | 4.75% | 05/18/2046 | -- | $2,584,344.93 | 2,229,000 |
| 0.24% | -- | APPLE INC | 4.45% | 05/06/2044 | -- | $2,563,525.85 | 2,146,000 |
| 0.24% | -- | ORACLE CORP | 6.13% | 07/08/2039 | -- | $2,535,511.85 | 2,042,000 |
| 0.23% | -- | COCA-COLA CO/THE | 1.00% | 03/15/2028 | -- | $2,497,841.97 | 2,666,000 |
| 0.23% | -- | AMERICAN EXPRESS CO | 4.05% | 12/03/2042 | -- | $2,493,347.53 | 2,227,000 |
| 0.23% | -- | TOYOTA MOTOR CREDIT CORP | 3.38% | 04/01/2030 | -- | $2,455,399.71 | 2,313,000 |
| 0.22% | -- | BANCO SANTANDER SA | 3.49% | 05/28/2030 | -- | $2,411,607.51 | 2,353,000 |
| 0.22% | -- | ANTHEM INC | 4.65% | 01/15/2043 | -- | $2,395,644.02 | 2,056,000 |
| 0.22% | -- | UNITEDHEALTH GROUP INC | 6.88% | 02/15/2038 | -- | $2,388,286.31 | 1,642,000 |
| 0.22% | -- | MITSUBISHI UFJ FIN GRP | 2.05% | 07/17/2030 | -- | $2,364,695.16 | 2,512,000 |
| 0.22% | -- | CITIGROUP INC | 6.68% | 09/13/2043 | -- | $2,355,946.75 | 1,652,000 |
| 0.22% | -- | COOPERATIEVE RABOBANK UA | 5.75% | 12/01/2043 | -- | $2,317,086.55 | 1,766,000 |
| 0.21% | -- | AMERICA MOVIL SAB DE CV | 4.38% | 07/16/2042 | -- | $2,299,169.82 | 2,045,000 |
| 0.21% | -- | SUMITOMO MITSUI FINL GRP | 3.36% | 07/12/2027 | -- | $2,279,649.64 | 2,172,000 |
| 0.21% | -- | NOMURA HOLDINGS INC | 2.17% | 07/14/2028 | -- | $2,245,959.28 | 2,348,000 |
| 0.21% | -- | WELLS FARGO & COMPANY | 4.65% | 11/04/2044 | -- | $2,245,791.77 | 1,972,000 |
| 0.21% | -- | IBM CORP | 4.00% | 06/20/2042 | -- | $2,216,351.51 | 2,050,000 |
| 0.21% | -- | PFIZER INC | 4.00% | 12/15/2036 | -- | $2,202,782.17 | 1,950,000 |
| 0.20% | -- | ANHEUSER-BUSCH INBEV WOR | 3.75% | 07/15/2042 | -- | $2,147,998.98 | 2,090,000 |
| 0.20% | -- | VODAFONE GROUP PLC | 6.15% | 02/27/2037 | -- | $2,137,086.99 | 1,643,000 |
| 0.20% | -- | ASTRAZENECA PLC | 4.38% | 11/16/2045 | -- | $2,098,845.01 | 1,761,000 |
| 0.20% | -- | SUMITOMO MITSUI FINL GRP | 1.90% | 09/17/2028 | -- | $2,096,597.07 | 2,200,000 |
| 0.19% | -- | COCA-COLA CO/THE | 2.50% | 03/15/2051 | -- | $2,058,548.07 | 2,301,000 |
| 0.19% | -- | WALT DISNEY COMPANY/THE | 3.80% | 03/22/2030 | -- | $2,056,364.39 | 1,895,000 |
| 0.19% | -- | COCA-COLA CO/THE | 2.60% | 06/01/2050 | -- | $2,055,684.38 | 2,253,000 |
| 0.19% | -- | MITSUBISHI UFJ FIN GRP | 3.29% | 07/25/2027 | -- | $2,002,393.67 | 1,917,000 |
| 0.19% | -- | ING GROEP NV | 4.55% | 10/02/2028 | -- | $1,993,334.26 | 1,792,000 |
| 0.18% | -- | PFIZER INC | 4.40% | 05/15/2044 | -- | $1,971,435.99 | 1,666,000 |
| 0.18% | -- | METLIFE INC | 4.88% | 11/13/2043 | -- | $1,965,551.92 | 1,596,000 |
| 0.18% | -- | MITSUBISHI UFJ FIN GRP | 3.20% | 07/18/2029 | -- | $1,944,257.08 | 1,900,000 |
| 0.18% | -- | UNITEDHEALTH GROUP INC | 2.88% | 08/15/2029 | -- | $1,903,368.36 | 1,857,000 |
| 0.17% | -- | ROYAL BANK OF CANADA | 2.30% | 11/03/2031 | -- | $1,822,688.98 | 1,900,000 |
| 0.17% | -- | MITSUBISHI UFJ FIN GRP | 3.75% | 07/18/2039 | -- | $1,818,926.72 | 1,687,000 |
| 0.17% | -- | WALT DISNEY COMPANY/THE | 2.65% | 01/13/2031 | -- | $1,773,633.44 | 1,776,000 |
| 0.16% | -- | COCA-COLA CO/THE | 1.65% | 06/01/2030 | -- | $1,761,009.45 | 1,879,000 |
| 0.16% | -- | CITIGROUP INC | 5.88% | 01/30/2042 | -- | $1,747,878.30 | 1,306,000 |
| 0.16% | -- | SHELL INTERNATIONAL FIN | 4.55% | 08/12/2043 | -- | $1,696,805.95 | 1,436,000 |
| 0.16% | -- | BANK OF AMERICA CORP | 5.00% | 01/21/2044 | -- | $1,670,170.47 | 1,354,000 |
| 0.16% | -- | CITIGROUP INC | 6.63% | 06/15/2032 | -- | $1,665,763.85 | 1,290,000 |
| 0.15% | -- | PHILIP MORRIS INTL INC | 4.25% | 11/10/2044 | -- | $1,656,493.72 | 1,546,000 |
| 0.15% | -- | AMERICA MOVIL SAB DE CV | 6.38% | 03/01/2035 | -- | $1,589,619.50 | 1,197,000 |
| 0.15% | -- | MIZUHO FINANCIAL GROUP | 2.56% | 09/13/2031 | -- | $1,586,165.52 | 1,685,000 |
| 0.13% | -- | TIME WARNER ENTERTAINMEN | 8.38% | 07/15/2033 | -- | $1,419,056.63 | 1,017,000 |
| 0.11% | -- | PROCTER & GAMBLE CO/THE | 1.95% | 04/23/2031 | -- | $1,149,569.47 | 1,184,000 |
| 0.11% | -- | BANCO SANTANDER SA | 3.80% | 02/23/2028 | -- | $1,145,005.74 | 1,088,000 |
| 0.10% | -- | WELLS FARGO & COMPANY | 4.90% | 11/17/2045 | -- | $1,123,027.50 | 953,000 |
| 0.10% | -- | WESTPAC BANKING CORP | 2.15% | 06/03/2031 | -- | $1,100,637.05 | 1,136,000 |
| 0.09% | -- | JPMORGAN CHASE & CO | 4.85% | 02/01/2044 | -- | $998,434.20 | 812,000 |
| 0.08% | -- | WELLS FARGO BANK NA | 6.60% | 01/15/2038 | -- | $816,693.69 | 589,000 |
| 0.07% | -- | NOMURA HOLDINGS INC | 2.61% | 07/14/2031 | -- | $711,306.79 | 747,000 |
| 0.06% | -- | VERIZON COMMUNICATIONS | 4.13% | 08/15/2046 | -- | $684,088.96 | 629,000 |
| 0.05% | -- | COCA-COLA CO/THE | 1.38% | 03/15/2031 | -- | $502,188.61 | 552,000 |
| 0.03% | -- | WESTPAC BANKING CORP | 3.13% | 11/18/2041 | -- | $349,937.00 | 372,000 |
| -- | -- | US 10YR NOTE FUTURE 03/22/2022 (TYH2) | -- | -- | -267,017,719 | -- | -2,094 |
| -- | -- | US LONG FUTURE 03/22/2022 (USH2) | -- | -- | -606,416,594 | -- | -3,929 |
| -- | -- | US ULTRA BOND FUTURE 03/22/2022 (WNH2) | -- | -- | -152,549,219 | -- | -817 |
Index
as of 12/31/2021
- Total Number of Issues247
- Weighted Average Maturity15.50 Years
- Weighted Average Coupon5.06%
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
2022
- 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 |
|---|
Hedge Against Rising Rates Research & Insights
Bond Strategies for Rising Rates—Shorten, Float or Hedge?
Interest rates play a critical role in fixed income returns. When rates rise, bond prices fall. Conversely, when rates fall, bond prices rise. Navigating a shifting climate requires planning. There are a variety of strategies available, which we'll explore here.
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