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(MINC) Newfleet Multi-Sector Income ETF

Overview

How MINC Works

The AdvisorShares Newfleet Multi-Sector Income ETF (NYSE Arca: MINC) seeks to provide current income consistent with preservation of capital, while limiting fluctuations in net asset value (“NAV”) due to changes in interest rates. MINC is managed by Newfleet Asset Management (“Portfolio Manager”), an investment subsidiary of Virtus Investment Partners. Newfleet believes that active fixed income sector rotation and quality security selection, combined with disciplined risk management, offers the best potential to achieve the Fund's investment objective of providing a high level of total return, including a competitive level of current income in the fixed income market.

Fund Documents

Portfolio Manager Commentaries

MINC Portfolio Statistics & Bond Sector Allocation

as of 04/21/2017
  MINC
Duration 2.13 years
Yield to Maturity 3.07%
30-Day SEC Subsidized Yield 2.53%
30-Day SEC Unsubsidized Yield 2.49%

Past Performance is not indicative of future results. MINC statistics and bond sector allocation are for the actual MINC security holdings as of the listed date, excluding cash. Duration is the change of a fixed income security that will result from a 1% change in interest rates, and is based on the yield to worst date. Yield to Maturity is the yield if the security is held until the maturity date. 30–Day SEC Yield (Standardized Yield) is an annualized yield that is calculated by dividing the investment income earned by the Fund less expenses over the most recent 30-day period by the current maximum offering price. The Subsidized Yield reflects fee waivers and/or expense reimbursements recorded by the Fund during the period. Without waivers and/or reimbursements, yields would be reduced. The Unsubsidized Yield does not adjust for any fee waivers and/ or expense reimbursements in effect. If the Fund does not incur any fee waivers and/or expense reimbursements during the period, the 30-Day Subsidized Yield and 30-Day Unsubsidized Yield will be identical.

MINC Bond Sector Allocation

MINC Credit Ratings

as of 04/21/2017
RatingHoldings
AAA32.64%
AA15.25%
A17.98%
BAA17.87%
BA12.05%
B1.91%
CAA0.08%
D0.00%
Not Rated2.22%

The ratings issued by Nationally Recognized Statistical Rating Organizations assess the credit worthiness of a corporation's or government debt issues. The ratings apply to the fund's holdings and not the fund itself. The higher of the ratings between Moody’s, Standard & Poor's and Fitch is used. If one of the three agencies does not have a rating, the higher of the other two ratings is used. If only one agency has rated the bond, the rating from that agency is used. If none of the three agencies have rated the bond the bond is placed in the Not Rated category.

The credit ratings are published rankings based on detailed financial analyses by a credit bureau specifically as it relates to the bond issue'rs ability to meet debt obligations. The highest rating is AAA, and the lowest is D. Securities with credit ratings of BBB and above are considered investment grade.

MINC in the News

The following reprints should not be construed as an offer to sell or a solicitation of an offer to buy shares of any other funds. They are provided for informational purposes for AdvisorShares only.
09/26/2014 -

AdvisorShares Press Release, AdvisorShares Announces September 2014 Distributions

08/27/2014 -

AdvisorShares Press Release, AdvisorShares Announces August 2014 Distributions

06/26/2014 -

AdvisorShares Press Release, AdvisorShares Announces June 2014 Distributions

05/29/2014 -

AdvisorShares Press Release, AdvisorShares Announces May 2014 Distributions

04/29/2014 -

AdvisorShares Press Release, AdvisorShares Announces April 2014 Distributions

Performance -Month-End

MINC Performance History (%) as of 3/31/2017
 NAVMarket Price ReturnBarclays Capital Aggregate Bond Index
1 Month0.090.05-0.05
3 Months0.690.680.82
YTD0.690.680.82
1 Year2.953.100.44
3 Years2.001.962.68
Since Inception
(03/19/2013)
2.001.991.99

Performance -Quarter-End

MINC Performance History (%) as of 3/31/2017
 NAVMarket Price ReturnBarclays Capital Aggregate Bond Index
1 Month0.090.05-0.05
3 Months0.690.680.82
YTD0.690.680.82
1 Year2.953.100.44
3 Years2.001.962.68
Since Inception
(03/19/2013)
2.001.991.99

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.

The Barclays Capital Aggregate Bond Index measures the performance of the U.S. investment grade bond market. One cannot invest directly in an index.

Fund Distributions

Ex-DateRecord DatePay DateCash DivST Cap GainLT Cap GainReturn of CapitalTotal Distribution
04-21-17
04-26-17
04-28-17
$0.10116$0.00$0.00$0.00$0.10116/per share
03-24-17
03-28-17
03-31-17
$0.10365$0.00$0.00$0.00$0.10365/per share
02-23-17
02-27-17
02-28-17
$0.10024$0.00$0.00$0.00$0.10024/per share
01-25-17
01-27-17
01-31-17
$0.0891$0.00$0.00$0.00$0.0891/per share
12-23-16
12-28-16
12-30-16
$0.1307$0.00$0.00$0.00$0.1307/per share
11-23-16
11-28-16
11-30-16
$0.0996$0.00$0.00$0.00$0.0996/per share
10-25-16
10-27-16
10-31-16
$0.1024$0.00$0.00$0.00$0.1024/per share
09-26-16
09-28-16
09-30-16
$0.1110$0.00$0.00$0.00$0.1110/per share
08-25-16
08-29-16
08-31-16
$0.1111$0.00$0.00$0.00$0.1111/per share
07-25-16
07-27-16
07-29-16
$0.1143$0.00$0.00$0.00$0.1143/per share
06-24-16
06-28-16
06-30-16
$0.1158$0.00$0.00$0.00$0.1158/per share
05-24-16
05-26-16
05-31-16
$0.1118$0.00$0.00$0.00$0.1118/per share
04-25-16
04-27-16
04-29-16
$0.1239$0.00$0.00$0.00$0.1239/per share
03-24-16
03-29-16
03-31-16
$0.1217$0.00$0.00$0.00$0.1217/per share
02-23-16
02-25-16
02-29-16
$0.1029$0.00$0.00$0.00$0.1029/per share
01-25-16
01-27-16
01-29-16
$0.0883$0.00$0.00$0.00$0.0883/per share
12-24-15
12-29-15
12-31-15
$0.1467$0.00$0.00$0.00$0.1467/per share
11-23-15
11-25-15
11-30-15
$0.1073$0.00$0.00$0.00$0.1073/per share
10-26-15
10-28-15
10-30-15
$0.1192$0.00$0.00$0.00$0.1192/per share
09-24-15
09-28-15
09-30-15
$0.1159$0.00$0.00$0.00$0.1159/per share
08-25-15
08-27-15
08-31-15
$0.1196$0.00$0.00$0.00$0.1196/per share
07-24-15
07-28-15
07-30-15
$0.0942$0.00$0.00$0.00$0.0942/per share
06-24-15
06-26-15
06-30-15
$0.1230$0.00$0.00$0.00$0.1230/per share
05-22-15
05-27-15
05-29-15
$0.1011$0.00$0.00$0.00$0.1011/per share
04-24-15
04-28-15
04-30-15
$0.1124$0.00$0.00$0.00$0.1124/per share
03-25-15
03-27-15
03-31-15
$0.1215$0.00$0.00$0.00$0.1215/per share
02-23-15
02-25-15
02-27-15
$0.1051$0.00$0.00$0.00$0.1051/per share
01-26-15
01-28-15
01-30-15
$0.0794$0.00$0.00$0.00$0.0794/per share
12-24-14
12-29-14
12-31-14
$0.164$0.00$0.00$0.00$0.164/per share
11-21-14
11-25-14
11-28-14
$0.095$0.00$0.00$0.00$0.095/per share
10-27-14
10-29-14
10-31-14
$0.128$0.00$0.00$0.00$0.128/per share
09-24-14
09-26-14
09-30-14
$0.114$0.00$0.00$0.00$0.114/per share
08-25-14
08-27-14
08-29-14
$0.115$0.00$0.00$0.00$0.115/per share
07-25-14
07-29-14
07-31-14
$0.114$0.00$0.00$0.00$0.114/per share
06-24-14
06-26-14
06-30-14
$0.123$0.00$0.00$0.00$0.123/per share
05-23-14
05-28-14
05-30-14
$0.097$0.00$0.00$0.00$0.097/per share
04-24-14
04-28-14
04-30-14
$0.113$0.00$0.00$0.00$0.113/per share
03-25-14
03-27-14
03-31-14
$0.111$0.00$0.00$0.00$0.111/per share
02-24-14
02-26-14
02-28-14
$0.126$0.00$0.00$0.00$0.126/per share
01-27-14
01-29-14
01-31-14
$0.095$0.00$0.00$0.00$0.095/per share
12-24-13
12-27-13
12-31-13
$0.132$0.00$0.00$0.00$0.132/per share
11-22-13
11-26-13
11-29-13
$0.109$0.00$0.00$0.00$0.109/per share
10-25-13
10-29-13
10-31-13
$0.121$0.00$0.00$0.00$0.121/per share
09-24-13
09-26-13
09-30-13
$0.106$0.00$0.00$0.00$0.106/per share
08-26-13
08-28-13
08-30-13
$0.114$0.00$0.00$0.00$0.114/per share
07-25-13
07-29-13
07-31-13
$0.109$0.00$0.00$0.00$0.109/per share
06-24-13
06-26-13
06-28-13
$0.108$0.00$0.00$0.00$0.108/per share
05-24-13
05-29-13
05-31-13
$0.093$0.00$0.00$0.00$0.093/per share
04-24-13
04-26-13
04-30-13
$0.051$0.00$0.00$0.00$0.051/per share
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Why Invest in MINC

  • For Portfolio Diversification - Spreading your investment risk among bonds in all the material bond sectors, including bonds with different maturities and credit qualities can help diversify an overall portfolio.
  • For a Value-Oriented Approach to Fixed Income Investing - The portfolio manager believes that active bond sector rotation and quality security selection, combined with disciplined risk management, is the most effective means of achieving total returns in the fixed income market.
  • For Simplified Bond Investing - MINC is designed for any investor seeking one bond fund that includes all the major bond sectors.

Key Attributes

  1. Low Duration - MINC’s low average duration, targeted at between 1 and 3 years, may potentially make it less sensitive to interest rate changes than other bond ETFs with higher average durations.
  2. High Quality - MINC primarily invests in high quality investment-grade debt, which are securities with credit ratings within the 4 highest rating categories of nationally recognized bond rating organizations.
  3. Active Bond Sector Rotation - The Portfolio Manager actively seeks to strategically overweight undervalued bond sectors in an effort to add value to the portfolio.
  4. Risk Controls - The portfolio manager employs disciplined risk management controls with the following parameters: Below investment grade maximum: 20%; Non-U.S. maximum: 30%; Industry maximum: 25%.
  5. Professional Experience - The portfolio management team has over 70 years of combined investment experience. MINC is being carefully managed by seasoned investment professionals.

About the Portfolio Managers

David L. Albrycht, CFA. - President and Chief Investment Officer
David Albrycht is president and chief investment officer of Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Prior to joining Newfleet in 2011, Mr. Albrycht was executive managing director and senior portfolio manager with Goodwin Capital Advisers, a former Virtus investment management subsidiary. He joined the Goodwin multi-sector fixed income team in 1985 as a credit analyst and has managed fixed income portfolios since 1991.

Mr. Albrycht earned a B.A., cum laude, from Central Connecticut State University and an M.B.A., with honors, from the University of Connecticut. He holds the Chartered Financial Analyst designation.

Jonathan R. Stanley, CFA. - Managing Director, Fixed Income Research
Jonathan Stanley is managing director, fixed income research at Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Prior to joining Newfleet in 2011, Mr. Stanley was on the fixed income team at Goodwin Capital Advisers, an investment management company that previously was a subsidiary of Virtus. At Newfleet, he continues in the same role that he held at Goodwin Capital, serving as the sector manager for high yield credit. In addition, he is co-portfolio manager of the Virtus High Yield Fund.

Mr. Stanley earned a B.S. in accounting from Fairfield University and an M.B.A. from the University of Florida. He is a CFA (Chartered Financial Analyst) charter holder. He began working in the investment industry in 1997.

Christopher J. Kelleher, CFA, CPA. - Senior Managing Director and Senior Portfolio Manager
Christopher Kelleher is a managing director and senior portfolio manager at Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Mr. Kelleher serves as co-portfolio manager of the Virtus Bond Fund, the Virtus Balanced Fund, and the Virtus Low Duration Income Fund, as well as the Virtus Total Return Fund (NYSE: DCA), a closed-end fund.

Mr. Kelleher earned a B.S. in accounting from the University of Connecticut and a M.S. in accounting from the University of Hartford. He holds the Chartered Financial Analyst designation and is a Certified Public Accountant and Certified Financial Planner. He began his career in the financial services industry in 1983.

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Morningstar Rating ™

10 Yr 5 Yr 3 Yr Overall Category # in Overall Category
N/A N/A Short-Term Bond 444
Overall Morningstar rating is derived from a weighted average of the fund's 3-, 5-, and 10- year (if applicable) risk-adjusted returns as of 3/31/2017. Category consists of 444 funds in 3 year, 359 in 5 year, and 257 in 10 year.

Price History

As of: 04/23/2017
NAV$48.79Closing Price$48.70
Change$0.02Change$0.00
Shares Outstanding5,300,000Volume27,651
4PM Bid/Offer Midpoint$48.73Premium/Discount$-0.06
Assets Under Management$258,640,309.60
Premium/Discount Historical Data

 

Holdings

As of: 04/23/2017
Name Price Weight
JP MORGAN USD GOVT MONEY MARKET INSTL 1 4.06%
US TREASURY N/B 1.875 1/31/2022 100.564 1.17%
US TREASURY N/B 1.375 12/15/2019 100.113 1.01%
US TREASURY N/B 1.25 12/31/2018 100.148 1.00%
US TREASURY N/B 1.375 2/15/2020 100.031 0.78%
MORGAN STANLEY FRN 10/24/2023 101.4 0.77%
JPMMT 2016-5 A1 FRN 12/25/2046 100.207 0.72%
AMCAR 2016-1 B 2.3 3/8/2021 100.688 0.67%
JPMCC 2007-LD12 A4 FRN 2/15/2051 100.341 0.66%
GCCFC 2007-GG11 AM FRN 12/10/2049 100.998 0.60%
ABMT 2013-1 A1 FRN 7/25/2043 101.593 0.58%
AESOP 2013-2A A 2.97 2/20/2020 101.59 0.58%
LBCMT 2007-C3 A4 FRN 7/15/2044 100.343 0.56%
SDART 2016-1 C 3.09 4/15/2022 101.651 0.54%
NRZT 2014-3A AFX3 FRN 11/25/2054 101.738 0.53%
BERKSHIRE HATHAWAY FIN 1.3 8/15/2019 99.335 0.53%
UAL 2007 PASS TRUST 6.636 7/2/2022 108.875 0.51%
SLMA 2014-A A2A 2.59 1/15/2026 100.845 0.50%
DRIVE 2016-BA B 2.56 6/15/2020 100.547 0.49%
JPMMT 2016-1 A3 3.5 5/25/2046 101.804 0.48%
WLAKE 2016-3A B 2.07 12/15/2021 99.8618 0.48%
GSMS 2012-ALOH A 3.551 4/10/2034 105.484 0.47%
NRZT 2014-1A A FRN 1/25/2054 103.006 0.47%
DRIVE 2015-AA C 3.06 5/17/2021 100.634 0.46%
NHEL 2004-4 M5 FRN 3/25/2035 98.2112 0.46%
DRIVE 2016-AA B 3.17 5/15/2020 100.547 0.45%
FN 890707 2.5 2/1/2031 100.878 0.44%
AESOP 2013-1A A 1.92 9/20/2019 99.9824 0.44%
BAFC 2016-R1 A1 FRN 3/25/2040 99.3757 0.43%
AVMT 2013-AVM A FRN 12/5/2032 106.084 0.42%
HERTZ 2015-2A A 2.02 9/25/2019 99.701 0.42%
NAVMT 2016-1 B FRN 9/27/2021 100.256 0.41%
AT&T INC 3 6/30/2022 100.28 0.41%
NRZT 2015-2A A1 FRN 8/25/2055 103.4 0.40%
EART 2014-1A C 3.57 7/15/2019 100.608 0.40%
DRIVE 2015-DA C 3.38 11/15/2021 101.126 0.39%
CFCAT 2015-1A B 2.91 6/15/2021 100.579 0.39%
HART 2015-C B 2.15 11/15/2021 100.487 0.39%
CCG 2015-1 A3 1.92 1/17/2023 100.336 0.39%
SOFI 2016-C A2B 2.36 12/27/2032 99.4434 0.39%
BSCMS 2007-PW17 AM FRN 6/11/2050 101.033 0.39%
US TREASURY N/B 1.375 1/31/2021 99.207 0.38%
BSARM 2004-10 21A1 FRN 1/25/2035 100.951 0.38%
JPMMT 2015-4 1A4 FRN 6/25/2045 101.804 0.37%
PETROLEOS MEXICANOS 4.875 1/24/2022 103.65 0.36%
NORDEA BANK AB 1.625 9/30/2019 99.0607 0.36%
SANTANDER HOLDINGS USA 3.7 3/28/2022 100.78 0.36%
JPMMT 2015-5 A2 FRN 5/25/2045 100.22 0.35%
HOSTESS BRAND 08/03/22 Term Loan 101.062 0.35%
EART 2014-2A C 3.26 12/16/2019 100.86 0.34%
MSC 2008-T29 AM FRN 1/11/2043 102.263 0.34%
CMLTI 2015-A A1 FRN 6/25/2058 101.963 0.34%
MSCBB 2016-MART A 2.2004 9/13/2031 98.999 0.34%
SASC 2003-AL1 A 3.3565 4/25/2031 98.8914 0.34%
NRZT 2016-3A A1 FRN 9/25/2056 103.246 0.34%
JPMBB 2014-C22 A4 3.8012 9/15/2047 105.141 0.33%
FN AS5927 3 10/1/2030 103.139 0.32%
FN AS6515 4 1/1/2046 105.557 0.32%
BSCMS 2007-PW18 A4 5.7 6/11/2050 101.028 0.31%
TENET HEALTHCARE CORP FRN 6/15/2020 100.625 0.31%
TCFAT 2014-1A B 2.33 5/15/2020 100.619 0.31%
TPMT 2016-1 A1B FRN 2/25/2055 100.782 0.31%
TPMT 2015-5 A1B FRN 5/25/2055 100.783 0.31%
AMERICA WEST AIR 2001-1 7.1 4/2/2021 109 0.31%
WELLS FARGO BANK NA 2.15 12/6/2019 100.596 0.31%
SDART 2013-1 D 2.27 1/15/2019 100.213 0.30%
WLAKE 2016-2A C 2.83 5/17/2021 100.765 0.30%
EART 2017-2A B 2.82 5/16/2022 99.9839 0.30%
SBA TOWER TRUST 2.877 7/15/2021 100.323 0.30%
CHASE 2016-2 M2 FRN 12/25/2045 101.184 0.30%
SBA TOWER TRUST 3.168 4/15/2022 100 0.30%
HILTON WORLDWIDE FINANCE 10/25/23 TERM LOAN 100.925 0.30%
JPMCC 2011-C4 A3 4.1063 7/15/2046 102.396 0.30%
COLD_17-ICE3-A 0.000 04/15/2024 100 0.30%
MIZUHO FINANCIAL GROUP 2.273 9/13/2021 98.4405 0.30%
GFMT 2017-1 A21 3.5 7/25/2056 101.914 0.30%
BSARM 2004-9 22A1 FRN 11/25/2034 100.308 0.30%
AMCAR 2014-1 D 2.54 6/8/2020 100.77 0.29%
FCRT 2016-1 A2 2.87 10/15/2021 100.656 0.29%
SDART 2016-2 B 2.08 2/16/2021 100.31 0.29%
FMG RESOURCES AUG 2006 9.75 3/1/2022 115.125 0.29%
COLT 2016-2 A1 FRN 9/25/2046 100.983 0.29%
AMCAR 2015-4 C 2.88 7/8/2021 101.171 0.28%
CARMX 2015-4 B 2.16 8/16/2021 100.156 0.28%
MLMI 2004-A4 A1 FRN 8/25/2034 101.471 0.27%
GENERAL MOTORS FINL CO 3.2 7/6/2021 101.014 0.27%
CARMX 2014-4 B 2.2 9/15/2020 100.599 0.27%
DTAOT 2016-1A B 2.79 5/15/2020 100.366 0.27%
D.R. HORTON INC 4.75 2/15/2023 107.937 0.27%
OMAN GOV INTERNTL BOND 3.625 6/15/2021 101.286 0.27%
CSMC 2013-HYB1 A16 FRN 4/25/2043 100.655 0.27%
UHAUL 2010-BT1A 1 4.899 10/25/2023 100.327 0.27%
DYNEG 06/27/23 TERM LOAN 100.275 0.27%
REYNOLDS GRP ISS/REYNOLD FRN 7/15/2021 102.625 0.27%
MVWOT 2016-1A A 2.25 12/20/2033 99.0058 0.27%
DRMT 2017-1A A1 FRN 12/26/2046 100.409 0.26%
REPUBLIC OF ARGENTINA 5.625 1/26/2022 104.1 0.26%
ACAR 2016-1A B 4.24 6/13/2022 101.559 0.26%
NCEPTION MERGER SU 11/03/23 TERM LOAN 100.883 0.26%
BSARM 2004-10 15A1 FRN 1/25/2035 100.234 0.26%
DRIVE 2016-CA C 3.02 11/15/2021 101.232 0.26%
GOLDMAN SACHS GROUP INC FRN 10/28/2027 102.897 0.26%
CSH 2016-2A C FRN 12/17/2033 100.537 0.26%
AMCAR 2015-3 C 2.73 3/8/2021 101.435 0.26%
CMLTI 2014-A A FRN 1/25/2035 104.254 0.26%
MCMLT 2016-1 A1 FRN 4/25/2057 100.662 0.26%
AMCAR 2017-1 C 2.71 8/18/2022 101.839 0.26%
DTAOT 2015-3A C 3.25 7/15/2021 101.027 0.26%
GLENCORE FUNDING LLC 4.125 5/30/2023 103.102 0.26%
FORD MOTOR CREDIT CO LLC 3.2 1/15/2021 101.454 0.26%
BANK OF AMERICA CORP FRN 10/21/2022 101.435 0.26%
CCART 2015-BA D 4.17 1/16/2023 103.503 0.25%
DTAOT 2016-3A C 3.15 3/15/2022 100.884 0.25%
MOTEL 2015-MTL6 D 4.531573 2/5/2030 100.775 0.25%
FRONTIER COMMUNICATIONS 10.5 9/15/2022 101.5 0.25%
AFIN 2015-2 C 2.67 8/20/2020 100.674 0.25%
VOLT 2017-NPL3 A1 FRN 3/25/2047 100.375 0.25%
GMCAR 2017-1A B 2.3 6/16/2023 100.357 0.25%
VFET 2017-1A B 2.4 1/18/2022 100.329 0.25%
HGVT 2017-AA A 2.66 12/26/2028 100.295 0.25%
SDART 2017-1 C 2.58 5/16/2022 100.267 0.25%
SOFI 2017-B A1FX 1.83 5/25/2040 100.211 0.25%
MFIT 2017-AA A 3.62 2/20/2029 100.897 0.25%
HGVGI 2017-1A A 2.94 5/25/2029 99.9747 0.25%
ADVANCED DISPOSAL SERVICE 11/10/2023 TERM LOAN 100.965 0.25%
HSBC HOLDINGS PLC 2.95 5/25/2021 101.263 0.25%
CRART 2015-3 B 2.7 9/15/2021 100.354 0.25%
SEVERSTAL (STEEL CAP) 3.85 8/27/2021 100.349 0.25%
BANK OF NY MELLON CORP 2.05 5/3/2021 99.324 0.25%
CARRIZO OIL & GAS INC 6.25 4/15/2023 100.5 0.25%
GALC 2017-1 A4 2.36 1/20/2023 100.248 0.25%
SARM 2004-4 3A2 FRN 4/25/2034 99.4853 0.25%
MEG ENERGY 12/31/23 TERM LOAN 100.219 0.25%
MICROSOFT CORP 1.55 8/8/2021 98.2304 0.25%
AFIN 2013-4 C 2.67 2/20/2019 100.403 0.25%
DTAOT 2016-2A C 3.67 1/18/2022 101.447 0.25%
LEVEL 3 FINANCIN 02/22/24 TERM LOAN 100.448 0.24%
MGM Growth Prope 04/25/23 Term Loan 100.375 0.24%
CARMX 2015-2 C 2.39 3/15/2021 100.905 0.24%
QVC INC 3.125 4/1/2019 101.341 0.24%
ELDORADO RESORTS INC 03/16/24 Term Loan 100.001 0.24%
WFMBS 2005-AR10 2A1 FRN 6/25/2035 102.007 0.24%
EART 2015-2A C 3.9 3/15/2021 101.814 0.24%
CSMC 2016-BDWN A FRN 2/15/2029 101.8 0.24%
CHARTER COMMUNICATIONS OPERATIN 07/01/20 TERM LOAN 100.537 0.24%
LRF 2015-1 D 3.74 5/17/2021 98.7319 0.24%
DELL INTERNATIONAL 09/07/23 TERM LOAN 100.548 0.24%
KINDER MORGAN INC/DELAWA 5.625 11/15/2023 111.14 0.23%
ACER 2015-1A B 2.26 6/10/2021 100.486 0.23%
JPMCC 2006-LDP9 AM 5.372 5/15/2047 100.02 0.23%
JPMMT 2005-A2 4A1 FRN 4/25/2035 98.5217 0.23%
NCL CORP LTD 4.75 12/15/2021 102.75 0.23%
FS INVESTMENT CORP 4.25 1/15/2020 101.719 0.23%
GSMS 2007-GG10 A1A FRN 8/10/2045 100.041 0.23%
MVCOT 2012-1A A 2.51 5/20/2030 100.32 0.23%
BALTA 2004-5 3A1 FRN 6/25/2034 100.39 0.23%
BOYD GAMING CORP 09/15/23 Term Loan 100.632 0.23%
COLT 2016-1 A1 3 5/25/2046 101.035 0.23%
JP MORGAN CHASE BANK NA 1.65 9/23/2019 99.58 0.22%
SCLP 2016-3 A 3.05 12/26/2025 100.32 0.22%
AMCAR 2013-2 D 2.42 5/8/2019 100.327 0.22%
CARMX 2016-2 B 2.16 12/15/2021 100.091 0.22%
HNGRY 2013-1A A2 4.474 3/20/2043 99.6746 0.22%
BNYM CORP 4.950000 12/49 103.375 0.22%
BROOKFIELD FINANCE LLC 4 4/1/2024 102.13 0.22%
FN AZ4794 3 10/1/2030 103.139 0.22%
FIRST HORIZON NATIONAL 3.5 12/15/2020 102.951 0.22%
CGCMT 2007-C6 A1A FRN 12/10/2049 100.207 0.22%
JPMMT 2015-1 AM1 FRN 12/25/2044 100.231 0.22%
GUANAY FINANCE LTD 6 12/15/2020 102.375 0.22%
EXELON CORP 2.85 6/15/2020 101.779 0.22%
CRART 2014-3 A4 1.79 3/16/2020 100.194 0.22%
REPUBLIC OF TURKEY 5.625 3/30/2021 105.826 0.21%
WEA FINANCE LLC/WESTFIEL 3.25 10/5/2020 102.533 0.21%
NRZT 2016-2A A1 FRN 11/26/2035 103.329 0.21%
APPLE INC 3 2/9/2024 102.082 0.21%
ABBVIE INC 2.5 5/14/2020 101.034 0.21%
HGVT 2013-A A 2.28 1/25/2026 99.8517 0.21%
DELPHI AUTOMOTIVE PLC 3.15 11/19/2020 102.347 0.21%
NGL ENRGY PART LP/FIN CO 5.125 7/15/2019 101.375 0.21%
CGCMT 2008-C7 AM FRN 12/10/2049 102.041 0.21%
TPMT 2016-4 A1 FRN 7/25/2056 99.5753 0.21%
JPMCC 2015-SGP B FRN 7/15/2036 100.731 0.21%
HILT 2016-SFP B 3.322835 11/5/2035 100.638 0.21%
WEN 2015-1A A2II 4.08 6/15/2045 101.713 0.21%
MARRIOTT INTERNATIONAL 3.125 10/15/2021 102.497 0.21%
MASCO CORP 3.5 4/1/2021 103.12 0.21%
FIRST 03/24/21 TERM LOAN 100.25 0.21%
ALBERTSONS COMPANIES LLC - Ter 08/25/21 Term Loan 100.562 0.20%
UNIVISION COMMUNICATIONS 03/15/24 TERM LOAN 99.453 0.20%
NXP BV/NXP FUNDING LLC 4.125 6/1/2021 105.25 0.20%
LBUBS 2007-C6 A4 FRN 7/15/2040 100.179 0.20%
AIR LEASE CORP 2.625 9/4/2018 100.891 0.20%
SELECT INCOME REIT 4.15 2/1/2022 101.652 0.20%
FORD MOTOR CREDIT CO LLC 8.125 1/15/2020 114.782 0.20%
CMLBC 2001-CMLB A3 FRN 6/20/2031 112.979 0.20%
GOLDMAN SACHS GROUP INC 3 4/26/2022 100.878 0.20%
MSRM 2014-1A A1 FRN 6/25/2044 101.12 0.20%
MICROSOFT CORP 2.4 2/6/2022 101.364 0.20%
APPLE INC 2.5 2/9/2022 101.305 0.20%
CHASE 2016-1 M2 FRN 4/25/2045 101.191 0.20%
PERTAMINA PERSERO PT 4.875 5/3/2022 105.985 0.20%
COSTA RICA GOVERNMENT 4.375 4/30/2025 96 0.20%
SASC 2004-4XS A3A 5.498124 2/25/2034 103.016 0.20%
PETROBRAS GLOBAL FINANCE 8.375 5/23/2021 113.95 0.20%
DROT 2014-1 A 2.54 5/20/2027 98.8527 0.20%
EART 2015-1A C 4.1 12/15/2020 102.405 0.20%
STACR 2016-DNA2 M2 FRN 10/25/2028 102.336 0.20%
VNESHECONOMBANK(VEB) 6.025 7/5/2022 107.478 0.20%
FREEPORT-MCMORAN INC 3.875 3/15/2023 92.75 0.20%
STATE GRID OVERSEAS INV 2.75 5/7/2019 101.298 0.20%
LINCOLN NATIONAL CORP 4.2 3/15/2022 106.433 0.20%
SEMT 2014-3 A9 FRN 10/25/2044 102.135 0.20%
TRANSDIGM 5/14 COV 06/04/21 TERM LOAN 100.219 0.20%
CRART 2014-2 B 2.34 4/15/2020 100.769 0.20%
HART 2015-A D 2.73 6/15/2021 100.684 0.20%
AMCAR 2014-2 C 2.18 6/8/2020 100.594 0.19%
LBUBS 2007-C7 A3 FRN 9/15/2045 101.277 0.19%
AESOP 2012-3A A 2.1 3/20/2019 100.295 0.19%
AMERICAN AIRLINE 04/28/23 Term Loan 100.277 0.19%
JPMCC 2007-LDPX AM FRN 1/15/2049 100.021 0.19%
SLMA 2013-B A2A 1.85 6/17/2030 99.8074 0.19%
CPF 2012-2A 1 2.61 8/20/2021 98.6716 0.19%
STANDARD INDUSTRIES INC 5.5 2/15/2023 103.5 0.19%
DELTA AIR LINES 2010-2A 4.95 5/23/2019 104.325 0.19%
UPC FINANCING PARTNERSHIP 100.51 0.19%
IND & COMM BK CHINA/NY 3.231 11/13/2019 102.148 0.19%
CFCAT 2014-2A B 2.64 11/16/2020 100.355 0.19%
GSR 2004-7 3A1 FRN 6/25/2034 97.2857 0.19%
SDART 2013-5 D 2.73 10/15/2019 100.905 0.19%
BACM 2007-4 AM FRN 2/10/2051 100.783 0.19%
Cequel/Suddenlink 01/15/25 Term Loan 100.188 0.18%
FCAT 2016-1 A 2.77 12/15/2020 100.799 0.18%
CORPORATE OFFICE PROP LP 3.7 6/15/2021 102.54 0.18%
REGENCY ENERGY PART/FINA 5 10/1/2022 107.032 0.18%
PetSmart 03/11/22 Term Loan 92.347 0.18%
REPUBLIC OF INDONESIA 3.7 1/8/2022 102.86 0.18%
VIRGIN MEDIA BRISTO 01/31/25 TERM LOAN 100.449 0.18%
QUI 11/15/23 TERM LOAN 100.973 0.18%
CORECIVIC INC 5 10/15/2022 103.5 0.18%
CGCMT 2016-SMPL A 2.228 9/10/2031 99.0545 0.18%
BSCMS 2007-PW17 A4 FRN 6/11/2050 100.558 0.18%
WLAKE 2015-1A C 2.29 11/16/2020 100.216 0.18%
ARISTOCRAT LEISURE LTD 10/20/21 Term Loan 100.868 0.18%
EART 2016-1A A 2.35 7/15/2020 100.19 0.18%
SDART 2014-3 C 2.13 8/17/2020 100.252 0.18%
MASCO CORP 5.95 3/15/2022 113.198 0.18%
WYNDHAM WORLDWIDE CORP 2.5 3/1/2018 100.56 0.18%
CHS/Community Health Systems 01/27/21 Term Loan 99.6195 0.17%
SPST 2017-1 B FRN 2/25/2049 100.011 0.17%
BSARM 2004-1 21A1 FRN 4/25/2034 99.802 0.17%
Calpine Corpor 01/15/24 Term Loan 100.454 0.17%
CONTL AIRLINES 2000-1 8.048 11/1/2020 109.625 0.17%
HP ENTERPRISE CO 2.45 10/5/2017 100.298 0.17%
DIGITAL REALTY TRUST LP 3.4 10/1/2020 103.294 0.17%
UNITED AIRLINES INC 04/01/24 TERM LOAN 100.49 0.17%
CXHE 2004-D AF5 5.85 9/25/2034 102.813 0.17%
WELLS FARGO & COMPANY 3.069 1/24/2023 101.232 0.17%
NRZT 2017-2A A3 FRN 3/25/2057 100.004 0.17%
ARAMARK SERVICES INC 03/28/2024 TERM LOAN 101.062 0.17%
AERCAP IRELAND CAP/GLOBA 4.5 5/15/2021 106.029 0.17%
HART 2014-B D 2.51 12/15/2020 100.948 0.17%
SBA TOWER TRUST 3.156 10/15/2020 100.635 0.17%
TPMT 2015-3 A1B FRN 3/25/2054 101.262 0.17%
CORP ANDINA DE FOMENTO 2 5/10/2019 100.133 0.16%
CCG 2014-1 B 2.15 11/15/2021 100.027 0.16%
SENIOR HOUSING PROPERTIE 3.25 5/1/2019 100.512 0.16%
CAFL 2015-1 A 2.896 10/15/2047 99.8555 0.16%
WLKRG 2015-AA A 2.79 6/16/2031 99.9298 0.16%
WFMBS 2004-U A1 FRN 10/25/2034 99.7288 0.16%
KOREA DEVELOPMENT BANK 4.625 11/16/2021 108.851 0.16%
TIAA ASSET MGMT FIN LLC 2.95 11/1/2019 101.699 0.16%
CMLTI 2015-PS1 A1 FRN 9/25/2042 103.053 0.16%
CSC HOLDINGS LLC 6.75 11/15/2021 109.125 0.15%
AMHPT 1996-1 B1 FRN 3/15/2027 103.087 0.15%
WESTR 2016-1A A 3.5 12/20/2028 100.657 0.15%
CALATLANTIC GROUP INC 5.25 6/1/2026 101.75 0.15%
TEVA PHARMACEUTICALS NE 1.7 7/19/2019 99.1267 0.15%
BROADCOM CRP / CAYMN FI 2.375 1/15/2020 100.05 0.15%
UBS GROUP FUNDING 2.65 2/1/2022 98.6357 0.15%
MCMLT 2017-1 A1 FRN 11/25/2058 100.767 0.15%
CWL 2004-S1 A3 5.115 2/25/2035 101.49 0.15%
GSR 2003-3F 1A6 6 4/25/2033 101.842 0.15%
NRG ENERG 06/30/23 Term Loan 100.562 0.15%
REPUBLIC OF ARGENTINA 6.875 4/22/2021 109.1 0.15%
RUSAL CAPITAL DAC 5.125 2/2/2022 100.595 0.15%
MOTEL 2015-MTL6 B 3.298311 2/5/2030 100.394 0.15%
CROWN CASTLE INTL CORP 4.875 4/15/2022 108.847 0.15%
COLNY 2014-1 A 2.5432 4/20/2050 99.6124 0.15%
COT 10/27/22 TERM LOAN 100.938 0.15%
SOFI 2016-A A2 2.76 12/26/2036 101.257 0.15%
JPMORGAN CHASE & CO 2.25 1/23/2020 100.428 0.15%
BAYV 2007-A 1A2 6.205 5/28/2037 104.767 0.15%
MVWOT 2015-1A B 2.96 12/20/2032 100.022 0.15%
ABBVIE INC 2.3 5/14/2021 99.6864 0.14%
ENDO LUXEMBOURG FINANCE 04/06/24 TERM LOAN 100.812 0.14%
CDS U.S. INTERMEDIATE HOLDINGS 07/08/22 TERM LOAN 100.99 0.14%
SASC 2003-33H 1A1 5.5 10/25/2033 102.174 0.14%
TMCAT 2014-AA C 2.56 8/15/2019 100.29 0.14%
DRB 2015-D A3 2.5 1/25/2036 100.302 0.14%
SOFI 2014-B A2 2.55 8/27/2029 100.601 0.14%
GENERAL MOTORS FINL CO 2.4 4/10/2018 100.585 0.14%
BXGNT 2015-A A 2.88 5/2/2030 100.943 0.14%
FHR 4011 J 4 12/15/2041 104.828 0.14%
SUNOCO LP/FINANCE CORP 6.375 4/1/2023 106.25 0.13%
ONGLT 2015-AA A 2.88 9/8/2027 100.324 0.13%
ABBOTT LABORATORIES 2.9 11/30/2021 101.189 0.13%
DTAOT 2014-3A C 3.04 9/15/2020 100.51 0.13%
AMSR 2016-SFR1 A FRN 11/17/2033 101.176 0.13%
TENNESSEE MERGER SU 2/6/2024 TERM LOAN 99.333 0.13%
MALT 2004-4 6A1 5.5 4/25/2034 103.834 0.13%
KRONOS INC/M 11/01/2023 TERM LOAN 100.683 0.13%
AMSR 2016-SFR1 C FRN 11/17/2033 100.367 0.13%
VERIZON COMMUNICATIONS 3.125 3/16/2022 101.586 0.13%
FIFTH THIRD BANCORP 4.5 6/1/2018 103.141 0.13%
HP ENTERPRISE CO 2.85 10/5/2018 101.228 0.13%
APPLE INC 2.25 2/23/2021 101.066 0.13%
MSC 2007-IQ16 A4 5.809 12/12/2049 100.539 0.13%
WFMBS 2004-K 1A2 FRN 7/25/2034 100.291 0.13%
GMACM 2004-AR1 12A 3.433185 6/25/2034 100.993 0.13%
OMFIT 2015-2A A 2.57 7/18/2025 100.324 0.13%
DDR CORP 7.875 9/1/2020 115.918 0.13%
VENTAS REALTY LP/CAP CRP 4 4/30/2019 103.341 0.12%
ENVISION HEALTHCARE 12/1/23 TERM LOAN 101.25 0.12%
INEOS US FINANC 4/1/2024 Term Loan 100.875 0.12%
WESTERN DIGITAL CORP 04/29/23 Term Loan 101.015 0.12%
BOMFT 2017-RN2 A1 FRN 04/28/2032 100 0.12%
STATE STREET CORP 4.956 3/15/2018 102.787 0.12%
SARM 2004-1 6A FRN 2/25/2034 97.4473 0.12%
ZIMMER BIOMET HOLDINGS 3.15 4/1/2022 101.446 0.12%
STATION CASINOS LLC 06/08/23 TERM LOAN 100.169 0.12%
VALE OVERSEAS LIMITED 5.875 6/10/2021 108 0.12%
NAVIENT CORP 6.5 6/15/2022 102.188 0.11%
GLDKR 2014-A A 3.22 3/17/2031 100.496 0.11%
VSD 2017-PLT1 A 3.6 12/25/2043 100.099 0.11%
NRZT 2016-1A A1 FRN 3/25/2056 102.761 0.11%
DELOS FINANCE 10/06/23 TERM LOAN 101.344 0.11%
WFMBS 2004-A A1 2.83461 2/25/2034 100.95 0.11%
REALOGY GROU 07/20/22 TERM LOAN 100.891 0.11%
LAZARD GROUP LLC 4.25 11/14/2020 105.487 0.11%
VOLT 2015-NPL4 A1 FRN 2/25/2055 100.81 0.11%
SPRINT COMMUNICA 02/02/24 TERM LOAN 100.16 0.11%
CONTL AIRLINES 2001-1 6.703 6/15/2021 108 0.11%
JEFFERIES GROUP LLC 5.125 4/13/2018 103.073 0.11%
DIGITAL REALTY TRUST LP 3.95 7/1/2022 104.98 0.11%
JPMORGAN CHASE & CO 6.125 6/27/2017 100.779 0.11%
BROADCOM CRP / CAYMN FI 3 1/15/2022 100.672 0.11%
VOYA FINANCIAL INC 2.9 2/15/2018 100.877 0.11%
MASD 2005-3 A2 5.704 11/25/2035 100.829 0.11%
GENERAL MOTORS FINL CO 3.7 5/9/2023 100.262 0.11%
CNH INDUSTRIAL CAP LLC 4.375 4/5/2022 101.531 0.11%
ULTRA RESOURCES INC 04/05/24 Term Loan 99.25 0.11%
MAJAPAHIT HOLDING BV 7.75 1/20/2020 113.01 0.11%
NATL RETAIL PROPERTIES 5.5 7/15/2021 110.648 0.11%
T-MOBILE USA INC 6.464 4/28/2019 100.235 0.11%
ALLY FINANCIAL INC 4.125 3/30/2020 102.055 0.11%
CMLTI 2004-UST1 A3 FRN 8/25/2034 100.413 0.11%
SASC 2003-34A 6A FRN 11/25/2033 98.9583 0.11%
JPMMT 2014-1 1A1 FRN 1/25/2044 104.027 0.10%
FIRST DATA CORPORATION 5 1/15/2024 102 0.10%
PROVINCIA DE BUENOS AIRE 6.5 2/15/2023 102.47 0.10%
TPMT 2015-6 M1 FRN 4/25/2055 100.321 0.10%
CHARTER COMM OPT LLC/CAP 4.464 7/23/2022 106.4 0.10%
FCRT 2017-1 B 3.05 12/15/2022 99.995 0.10%
AVMT 2013-AVM C FRN 12/5/2032 103.516 0.10%
VOLT 2016-NP11 A1 FRN 10/25/2046 100.513 0.10%
TRI POINTE GROUP / HOMES 5.875 6/15/2024 105.5 0.10%
SHIRE ACQ INV IRELAND DA 2.4 9/23/2021 98.6581 0.10%
TPMT 2015-5 A2 FRN 5/25/2055 102.149 0.10%
SARM 2004-5 3A2 FRN 5/25/2034 101.156 0.10%
FIRST TENNESSEE BANK 2.95 12/1/2019 101.257 0.10%
SMITHFIELD FOODS INC 2.7 1/31/2020 100.324 0.10%
BOAMS 2004-7 6A3 4.5 8/25/2019 99.8427 0.10%
SLMA 2013-C A2A 2.94 10/15/2031 101.306 0.10%
VERUS 2017-1A A1 FRN 1/25/2047 100.253 0.10%
JPMMT 2004-A3 1A1 FRN 7/25/2034 99.2886 0.10%
Caesars Entertainment Corp 04/04/24 Term Loan 99.425 0.10%
NRZT 2016-4A A1 FRN 11/25/2056 103.816 0.10%
NRZT 2014-2A A3 FRN 5/25/2054 102.653 0.09%
ABBOTT LABORATORIES 2.35 11/22/2019 100.689 0.09%
HARBOR FREIGHT 08/18/2023 TERM LOAN 99.963 0.09%
SVLF 2014-A A 2.81 1/15/2027 99.9476 0.09%
BRITISH AIR 13-1 B PTT 5.625 6/20/2020 105.46 0.09%
TRMF 2011-1A A1A 4.37 7/15/2041 101.04 0.09%
PENSKE TRUCK LEASING/PTL 3.375 2/1/2022 102.609 0.09%
BANK OF AMERICA CORP 2 1/11/2018 100.279 0.09%
JMAC 2014-R1 1A1 4 12/27/2037 100.155 0.09%
SASC 2003-37A 2A FRN 12/25/2033 99.6443 0.09%
HUNTINGTON BANCSHARES 7 12/15/2020 115.038 0.09%
TEXAS COMPETITIV 8/4/23 TERM LOAN 99.992 0.09%
JPMMT 2006-A2 4A1 FRN 8/25/2034 100.507 0.09%
CSFB 2003-AR30 5A1 FRN 1/25/2034 101.494 0.09%
SMITHFIELD FOODS INC 3.35 2/1/2022 100.477 0.09%
TRMF 2014-1A A1 2.863 4/15/2044 98.4403 0.09%
CITYCENTER HOLDINGS LLC 04/10/24 TERM LOAN 100.203 0.09%
AT&T INC 3.875 8/15/2021 104.953 0.09%
WAMU 2003-AR6 A1 2.902741 6/25/2033 99.7893 0.08%
ANTERO RESOURCES CORP 5.625 6/1/2023 102.25 0.08%
ARES CAPITAL CORP 3.875 1/15/2020 102.192 0.08%
DRUGB 2014-1 A2 3.484 7/15/2023 99.1997 0.08%
PROVINCIA DE BUENOS AIRE 5.75 6/15/2019 103.25 0.08%
SOFI 2015-A A2 2.42 3/25/2030 100.409 0.08%
BANK OF AMERICA CORP 5.65 5/1/2018 103.882 0.08%
FOREST LABORATORIES LLC 4.375 2/1/2019 103.525 0.08%
MALT 2005-2 2A1 6 1/25/2035 103.679 0.08%
GAHR 2015-NRF CFX FRN 12/15/2034 101.931 0.08%
ARDAGH PKG FIN/HLDGS USA 4.25 9/15/2022 101.125 0.08%
EART 2013-1A C 3.52 2/15/2019 100.417 0.08%
HERTZ 2016-1A A 2.32 3/25/2020 99.7831 0.08%
AVIATION CAPITAL GROUP 2.875 9/17/2018 101.045 0.08%
NATCM 2008-1 2A1 6 3/25/2038 104.168 0.08%
PENSKE TRUCK LEASING/PTL 2.5 6/15/2019 100.748 0.08%
INEOS 2/1 03/31/22 TERM LOAN 100.875 0.08%
COLT 2016-3 A1 FRN 12/26/2046 100.335 0.07%
SPRINGLEAF FINANCE CORP 5.25 12/15/2019 101.5 0.07%
BAFC 2005-1 1A1 5.5 2/25/2035 100.249 0.07%
VOLT 2016-NPL8 A1 FRN 7/25/2046 100.571 0.07%
VALEANT TLB SERIES F-1 L+325 04/01/22 TERM LOAN 100.535 0.07%
KRAFT HEINZ FOODS CO 2.8 7/2/2020 101.676 0.07%
HGVT 2014-AA A 1.77 11/25/2026 98.5294 0.07%
COTY/GAL 09/29/23 TERM LOAN 101.25 0.07%
MORGAN STANLEY 2.125 4/25/2018 100.439 0.07%
ACADIA HEAL 02/16/23 Term Loan 100.791 0.07%
TOLL BROS FINANCE CORP 4 12/31/2018 102.75 0.07%
VALEANT TLB SERI 04/ 04/01/22 Term Loan 100.535 0.07%
RFMS2 2003-HS2 AIIB FRN 6/25/2028 98.5792 0.07%
JBS US 10/30/22 Term Loan 100.625 0.07%
MASTR 2005-1 1A1 5 5/25/2020 101.055 0.07%
SASC 2004-15 3A3 5.5 9/25/2034 100.739 0.07%
VOLT 2015-NPL3 A1 FRN 10/25/2058 100.281 0.07%
MYLAN NV 3.15 6/15/2021 101.121 0.07%
FNR 2012-10 PA 4 11/25/2041 102.616 0.07%
Huntsman Internationa 04/01/23 Term Loan 101.5 0.07%
JPMORGAN CHASE & CO 2.295 8/15/2021 99.4345 0.07%
JPMMT 2014-2 2A2 FRN 6/25/2029 102.397 0.07%
BAFC 2004-A 5A1 FRN 7/20/2034 99.5443 0.06%
CDS U.S. INTERMEDIATE HOLDINGS 07/08/22 TERM LOAN 100.99 0.06%
SCIENTIFIC GAMES INTERNA 7 1/1/2022 107 0.06%
ICAHN ENTERPRISES/FIN 6.25 2/1/2022 103.5 0.06%
CRMSI 2006-1 A4 5.939 7/25/2036 101.119 0.06%
GOLDMAN SACHS GROUP INC 2.35 11/15/2021 98.737 0.06%
SDART 2013-3 C 1.81 4/15/2019 100.082 0.06%
TEVA PHARMACEUTICALS NE 2.2 7/21/2021 97.3301 0.06%
HARRAH'S 10/31/21 TERM LOAN 123.95 0.06%
BLUE RACER MID LLC/FINAN 6.125 11/15/2022 102 0.06%
TENET HEALTHCARE CORP 6.25 11/1/2018 105.375 0.06%
AERCAP IRELAND CAP/GLOBA 3.95 2/1/2022 103.827 0.06%
DUN & BRADSTREET CORP 4.25 6/15/2020 103.177 0.06%
BXGNT 2013-A A 3.01 12/4/2028 100.83 0.06%
HEALTHCARE TRUST OF AMER 3.375 7/15/2021 102.357 0.06%
WFMBS 2003-J 2A1 FRN 10/25/2033 100.871 0.06%
DUN & BRADSTREET CORP 3.5 12/1/2017 100.98 0.06%
ABFC 2005-AQ1 A6 4.78 1/25/2035 103.017 0.06%
DDR CORP 3.5 1/15/2021 101.872 0.06%
BAE SYSTEMS HOLDINGS INC 2.85 12/15/2020 101.556 0.06%
MSC 2008-T29 A4 FRN 1/11/2043 102.253 0.06%
BOAMS 2004-5 4A1 4.75 6/25/2019 100.102 0.06%
ALLY FINANCIAL INC 3.25 11/5/2018 101.125 0.06%
BAYC 2008-1 A3 FRN 1/25/2038 98.6771 0.06%
OMFIT 2014-1A A 2.43 6/18/2024 100.034 0.06%
CALATLANTIC GROUP INC 5.875 11/15/2024 106.625 0.06%
WAMMS 2003-AR4 2A1 2.478958 8/25/2033 98.7746 0.06%
HCP INC 3.75 2/1/2019 102.562 0.06%
XPO LOGISTICS INC 10/30/21 Term Loan 100.521 0.05%
ELDORADO RESORTS INC 03/16/24 Term Loan 100.001 0.05%
CHS/COMMUNITY HEALTH SYS 6.25 3/31/2023 101.75 0.05%
VERIZON COMMUNICATIONS 4.6 4/1/2021 107.683 0.05%
iStar Inc 6 4/1/2022 102.75 0.05%
WFMBS 2003-J 5A1 FRN 10/25/2033 101.104 0.05%
CWALT 2004-22CB 1A1 6 10/25/2034 103.363 0.05%
CSFB 2004-AR8 6A1 FRN 9/25/2034 100.429 0.05%
STARWOOD PROPERTY TRUST 5 12/15/2021 104.375 0.05%
HLF FINANCING 2/15/2023 TERM LOAN 100.225 0.05%
TOLL BROS FINANCE CORP 6.75 11/1/2019 110.375 0.05%
WFMBS 2004-Z 2A1 FRN 12/25/2034 101.234 0.05%
CONTL AIRLINES 1999-2 6.236 3/15/2020 103.5 0.05%
CFCAT 2014-1A B 2.72 4/15/2020 100.493 0.05%
SARM 2004-4 3A1 FRN 4/25/2034 98.7007 0.05%
OMFIT 2015-1A A 3.19 3/18/2026 101.189 0.05%
JPMMT 2004-A4 2A1 FRN 9/25/2034 101.322 0.05%
CSFB 2004-8 6A1 4.5 12/25/2019 99.8864 0.05%
GSAA 2005-1 AF4 5.619 11/25/2034 102.898 0.05%
AMERICAN AXLE & MFG INC 5.125 2/15/2019 101.137 0.05%
GT 1995-5 B1 FRN 9/15/2026 101.262 0.04%
DXC TECHNOLOGY CO 2.875 3/27/2020 101.355 0.04%
TENET HEALTHCARE CORP 6 10/1/2020 105.41 0.04%
CYRUSONE LP/CYRUSONE FIN 5 3/15/2024 103.25 0.04%
WFMBS 2004-K 2A12 FRN 7/25/2034 101.939 0.04%
SRFC 2014-1A A 2.07 3/20/2030 99.9644 0.04%
EDUCATION REALTY OPERATI 4.6 12/1/2024 102.151 0.04%
AIR CANADA 10/06/2023 TERM LOAN 100.797 0.04%
OWENS & MINOR INC 3.875 9/15/2021 102.72 0.04%
VALEANT PHARMACEUTICALS 6.5 3/15/2022 102.5 0.04%
DONNELLEY FINANCIAL SOLU 09/29/23 TERM LOAN 101.02 0.04%
WFMBS 2005-14 2A1 5.5 12/25/2035 102.87 0.04%
DIAMOND 1 FIN/DIAMOND 2 5.45 6/15/2023 108.028 0.04%
CHARTER COM 01/14/22 Term Loan 100.5 0.03%
ACTAVIS FUNDING SCS 3.45 3/15/2022 103.098 0.03%
ACTAVIS FUNDING SCS 3 3/12/2020 102.208 0.03%
LINCOLN NATIONAL CORP FRN 4/20/2067 86 0.03%
GOVERNMENT PROPERTIES IN 3.75 8/15/2019 100.951 0.03%
WBCMT 2007-C31 AM FRN 4/15/2047 100.669 0.03%
MSC 2007-IQ14 AM FRN 4/15/2049 99.934 0.03%
CHAI 2015-PM3 A 2.56 5/16/2022 100.093 0.03%
AMC ENTERTAINMEN 12/ 12/15/23 Term Loan 100.516 0.03%
ARES CAPITAL CORP 4.875 11/30/2018 103.581 0.03%
UACST 2016-1 B 2.73 5/15/2018 100.058 0.03%
ONGLT 2012-AA A 3.45 3/10/2027 100.843 0.03%
CDW LLC/CDW FINANCE 5 9/1/2025 102.345 0.03%
CAPITAL AUTOMOTIVE LP 03/25/24 Term Loan 100.985 0.03%
STATION CASINOS LLC 06/08/23 TERM LOAN 100.169 0.03%
WR GRACE & CO-CONN 5.125 10/1/2021 106.75 0.03%
ARISTOCRAT LEISURE LTD 10/20/21 Term Loan 100.868 0.03%
NEWELL BRANDS INC 2.6 3/29/2019 101.397 0.03%
BANK OF AMERICA CORP 5.49 3/15/2019 105.798 0.03%
PARK AEROSPACE HOLDINGS 5.25 8/15/2022 104.875 0.03%
HP ENTERPRISE CO 3.6 10/15/2020 103.453 0.03%
NEWELL BRANDS INC 3.15 4/1/2021 102.848 0.03%
GSMS 2007-GG10 A4 FRN 8/10/2045 100.069 0.03%
SRFC 2014-2A A 2.05 6/20/2031 98.7146 0.03%
NEW YORK LIFE GLOBAL FDG 1.95 2/11/2020 99.9797 0.03%
Las Vegas Sands LLC 03/29/24 Term Loan 100.208 0.03%
HUNTSMAN INTERNATIONA 04/01/23 TERM LOAN 101.5 0.02%
TEVA PHARMACEUTICALS NE 2.8 7/21/2023 96.226 0.02%
CHS/Community Health Systems 01/27/21 Term Loan 99.6195 0.02%
FNR 2009-36 NA 5 6/25/2037 104.642 0.02%
RASC 2004-KS2 AI6 FRN 3/25/2034 101.153 0.02%
VISTRA OPER C 12/14/023 TERM LOAN 100.598 0.02%
TEXAS COMPETITIV 8/4/23 TERM LOAN 99.992 0.02%
VERIZON COMMUNICATIONS 2.946 3/15/2022 100.691 0.02%
CGCMT 2007-C6 A4 FRN 12/10/2049 100.004 0.02%
DOMINION RESOURCES INC 2.962 7/1/2019 101.614 0.02%
LINCOLN NATIONAL CORP 8.75 7/1/2019 113.816 0.02%
AIRGAS INC 3.05 8/1/2020 102.938 0.02%
JPMORGAN 5.300000 12/49 104.5 0.02%
TOLL BROS FINANCE CORP 5.625 1/15/2024 107.375 0.01%
HOLLY ENERGY PARTNERS LP 6 8/1/2024 105.75 0.01%
WYNDHAM WORLDWIDE CORP 4.15 4/1/2024 102.148 0.01%
TRANSDIGM 5/14 COV 06/04/21 TERM LOAN 100.219 0.01%
JPMCC 2006-LDP7 AM FRN 4/17/2045 99.8841 0.01%
ULTRA RESOURCES INC 6.875 4/15/2022 100.75 0.01%
BAMH 1998-1 B1 FRN 8/10/2025 100.836 0.01%
BCRR 2009-1 2A1 FRN 7/17/2040 100.031 0.01%
CFCAT 2013-2A B 3.15 8/15/2019 100.203 0.01%
WFMBS 2003-G A1 FRN 6/25/2033 100.37 0.01%
AVOLON TLB BORROWER 1 LUXEM 03/21/22 TERM LOAN 101.619 0.01%
APF 2015-A A 2.61 4/15/2020 100.447 0.01%
VISTRA OPER C 12/14/023 TERM LOAN 100.599 0.01%
HELIX GEN FUNDING LLC 03/08/24 Term Loan 101.213 0.01%
ALTICE US FINANCE I CORP 07/28/25 Term Loan 100.073 0.00%
HILTON WORLDWIDE FINANCE 10/25/23 TERM LOAN 100.925 0.00%
SABINE OIL & GAS CORP 7.25 6/15/2019 0.25 0.00%
100 -2.18%

Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times. Holdings and allocations are subject to risks and to change. A holding identified with an "MM" at the end of its name indicates it is a Money Market fund.

Fund Basics

  • Symbol

    MINC

  • Exchange

    NYSE Arca

  • Inception Date

    03/19/2013

  • CUSIP

    00768Y727

  • Indicative Value

    MINC.IV

  • Options

    No

Fees & Expenses

  • Management Fee

    0.65%

  • Other Expenses

    0.16%

  • Acquired Fund Fees

    0.01%

  • Gross Expense Ratio

    0.82%

  • Fee Waiver and/or Expense Reimbursement

    -0.06%

  • Net Expense Ratio

    0.76%*

  • *The Advisor has contractually agreed to keep net expenses from exceeding 0.75% of the Fund’s daily net assets for at least one year from the date of the prospectus and for successive one-year periods thereafter unless the agreement is terminated.This agreement is limited to the Fund’s direct operating expenses and, therefore, does not apply to “Acquired Fund Fees and Expenses.”