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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 09/25/2016
  MINC
Duration 1.98 years
Yield to Maturity 2.90%
30-Day SEC Subsidized Yield 2.49%
30-Day SEC Unsubsidized Yield 2.43%

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 09/25/2016
RatingHoldings
AAA27.61%
AA14.39%
A24.71%
BAA18.36%
BA10.43%
B2.38%
CAA0.10%
D0.06%
Not Rated1.77%

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.

Performance -Month-End

MINC Performance History (%) as of 08/31/2016
 NAVMarket Price ReturnBarclays Capital Aggregate Bond Index
1 Month0.150.35-0.11
3 Months1.261.182.32
YTD3.052.905.86
1 Year2.882.605.97
3 Years2.762.664.37
Since Inception
(03/19/2013)
2.082.073.00

Performance -Quarter-End

MINC Performance History (%) as of 06/30/2016
 NAVMarket Price ReturnBarclays Capital Aggregate Bond Index
1 Month0.620.551.80
3 Months1.401.562.21
YTD2.402.265.31
1 Year2.332.396.00
3 Years2.662.674.06
Since Inception
(03/19/2013)
1.991.983.00

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
10-25-16
10-27-16
10-31-16
-----
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 504
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 08/31/2016. Category consists of 504 funds in 3 year, 412 in 5 year, and 284 in 10 year.

Price History

As of: 09/30/2016
NAV$48.97Closing Price$48.93
Change$-0.02Change$-0.01
Shares Outstanding5,450,000Volume30,248
4PM Bid/Offer Midpoint$48.98Premium/Discount$0.01
Assets Under Management$266,880,944.29
Premium/Discount Historical Data

 

Holdings

As of: 09/30/2016
Name Price Weight
BLACKROCK LIQ TEMP FD INSTL 24 1 5.06%
GSMS 2007-GG10 A1A FRN 8/10/2045 101.732 0.88%
LBCMT 2007-C3 A4 FRN 7/15/2044 102.626 0.81%
JPMCC 2007-LD12 A4 FRN 2/15/2051 102.202 0.77%
FG G08702 3.5 4/1/2046 105.522 0.70%
JPMCC 2007-CB19 A4 FRN 2/12/2049 101.439 0.68%
AMCAR 2016-1 B 2.3 3/8/2021 101.387 0.65%
NRZT 2014-3A AFX3 FRN 11/25/2054 104.076 0.62%
FN 890707 2.5 2/1/2031 103.705 0.61%
GCCFC 2007-GG11 AM FRN 12/10/2049 103.236 0.59%
AESOP 2013-2A A 2.97 2/20/2020 102.017 0.56%
JPMMT 2016-1 A3 3.5 5/25/2046 103.799 0.54%
WBCMT 2007-C31 AM FRN 4/15/2047 101.355 0.52%
CGCMT 2007-C6 A1A FRN 12/10/2049 101.868 0.52%
BERKSHIRE HATHAWAY FIN 1.3 8/15/2019 100.211 0.51%
UAL 2007 PASS TRUST 6.636 7/2/2022 106.625 0.51%
SLMA 2014-A A2A 2.59 1/15/2026 101.3 0.48%
DRIVE 2016-BA B 2.56 6/15/2020 100.945 0.47%
DRIVE 2015-AA C 3.06 5/17/2021 101.142 0.46%
DRIVE 2016-AA B 3.17 5/15/2020 101.427 0.46%
NRZT 2015-2A A1 FRN 8/25/2055 104.846 0.45%
BAFC 2016-R1 A1 FRN 3/25/2040 99.2902 0.45%
VZOT 2016-1A A 1.42 1/20/2021 100.355 0.45%
NHEL 2004-4 M5 FRN 3/25/2035 98.0444 0.44%
HERTZ 2011-1A A2 3.29 3/25/2018 100.493 0.43%
AESOP 2013-1A A 1.92 9/20/2019 100.021 0.43%
EART 2014-1A C 3.57 7/15/2019 100.923 0.42%
JPMMT 2015-4 1A4 FRN 6/25/2045 103.869 0.41%
SDART 2016-1 C 3.09 4/15/2022 102.677 0.41%
AVMT 2013-AVM A FRN 12/5/2032 107.559 0.41%
JPMMT 2015-5 A2 FRN 5/25/2045 101.935 0.41%
COLT 2016-2 A1 FRN 9/25/2046 100.831 0.40%
HERTZ 2015-2A A 2.02 9/25/2019 99.6143 0.40%
WBCMT 2007-C30 AM 5.383 12/15/2043 100.905 0.40%
NAVMT 2016-1 B FRN 9/27/2021 100 0.40%
AMCAR 2012-4 D 2.68 10/9/2018 100.132 0.39%
CGCMT 2010-RR3 MLSR FRN 6/14/2050 100.874 0.39%
LBUBS 2007-C6 A4 FRN 7/15/2040 101.262 0.39%
BSCMS 2007-PW17 AM FRN 6/11/2050 103.149 0.38%
DRIVE 2015-DA C 3.38 11/15/2021 101.883 0.38%
SOFI 2016-C A2B 2.36 12/27/2032 101.069 0.38%
VIRGIN AUST 2013-1A TRST 5 10/23/2023 103.875 0.38%
HART 2015-C B 2.15 11/15/2021 101.333 0.38%
US TREASURY N/B 1.375 1/31/2021 101.094 0.38%
CFCAT 2015-1A B 2.91 6/15/2021 100.847 0.38%
CCG 2015-1 A3 1.92 1/17/2023 100.711 0.38%
SASC 2003-AL1 A 3.3565 4/25/2031 98.7644 0.38%
CMLTI 2015-A A1 FRN 6/25/2058 102.429 0.37%
NRZT 2016-3A A1 FRN 9/25/2056 104.139 0.37%
JPMCC 2006-LDP9 AM 5.372 5/15/2047 100.315 0.37%
BSARM 2004-10 15A1 3.213808 1/25/2035 99.9264 0.36%
WBCMT 2007-C32 A3 FRN 6/15/2049 101.661 0.36%
TPMT 2016-1 A1B FRN 2/25/2055 101.37 0.35%
NORDEA BANK AB 1.625 9/30/2019 99.786 0.35%
FN AS5927 3 10/1/2030 105.092 0.35%
BSARM 2004-10 21A1 FRN 1/25/2035 101.056 0.35%
AMERICA WEST AIR 2001-1 7.1 4/2/2021 108.625 0.35%
WBCMT 2007-C30 A5 5.342 12/15/2043 100.646 0.35%
BSCMS 2007-PW18 A4 5.7 6/11/2050 103.021 0.35%
TPMT 2015-5 A1B FRN 5/25/2055 101.353 0.35%
FCRT 2016-1 A2 2.87 10/15/2021 100.774 0.35%
MSC 2008-T29 AM FRN 1/11/2043 104.528 0.34%
EART 2014-2A C 3.26 12/16/2019 101.108 0.33%
JPMBB 2014-C22 A4 3.8012 9/15/2047 109.389 0.33%
GSMS 2007-GG10 A4 FRN 8/10/2045 101.631 0.33%
CHASE 2016-2 M2 FRN 12/25/2045 104.086 0.33%
AT&T INC 2.8 2/17/2021 102.998 0.32%
CSMC 2013-HYB1 A16 FRN 4/25/2043 100.405 0.32%
SASC 2002-AL1 A3 3.45 2/25/2032 99.3856 0.32%
EART 2016-1A A 2.35 7/15/2020 100.294 0.32%
COLT 2016-1 A1 3 5/25/2046 100.85 0.31%
JPMCC 2011-C4 A3 4.1063 7/15/2046 103.97 0.31%
TCFAT 2014-1A B 2.33 5/15/2020 101.177 0.30%
MSC 2007-IQ14 A4 FRN 4/15/2049 101.102 0.30%
TENET HEALTHCARE CORP FRN 6/15/2020 101.01 0.30%
LBUBS 2007-C2 A3 5.43 2/15/2040 100.837 0.30%
SBA TOWER TRUST 2.877 7/15/2021 101.831 0.30%
SDART 2013-1 D 2.27 1/15/2019 100.779 0.30%
WLAKE 2016-2A C 2.83 5/17/2021 101.317 0.30%
MIZUHO FINANCIAL GROUP 2.273 9/13/2021 99.7988 0.29%
MVWOT 2016-1A A 2.25 12/20/2033 99.876 0.29%
MLMI 2004-A4 A1 FRN 8/25/2034 101.431 0.29%
AMCAR 2014-1 D 2.54 6/8/2020 101.34 0.29%
UHAUL 2010-BT1A 1 4.899 10/25/2023 101.217 0.28%
SDART 2016-2 B 2.08 2/16/2021 100.767 0.28%
MCMLT 2016-1 A1 FRN 4/25/2057 100.81 0.28%
AMCAR 2015-4 C 2.88 7/8/2021 102.61 0.27%
SBA TOWER TRUST 2.933 12/15/2017 100.588 0.27%
UACST 2016-1 B 2.73 5/15/2018 100.449 0.27%
CARMX 2015-4 B 2.16 8/16/2021 101.079 0.27%
MVCOT 2012-1A A 2.51 5/20/2030 100.739 0.27%
ALIBABA GROUP HOLDING 2.5 11/28/2019 102.156 0.27%
CARMX 2014-4 B 2.2 9/15/2020 101.487 0.27%
GENERAL MOTORS FINL CO 3.2 7/6/2021 101.337 0.27%
DTAOT 2016-1A B 2.79 5/15/2020 100.98 0.26%
SARM 2004-4 3A2 FRN 4/25/2034 99.5001 0.26%
JPMCC 2006-LDP9 A3 5.336 5/15/2047 100.02 0.26%
OMAN GOV INTERNTL BOND 3.625 6/15/2021 101 0.26%
DYNEG 06/27/23 TERM LOAN 100.932 0.26%
ACAR 2016-1A B 4.24 6/13/2022 103.742 0.26%
SUNOCO LP/FINANCE CORP 6.375 4/1/2023 103.25 0.26%
HOSTESS BRANDS 7/15 COV 08/03/22 TERM LOAN 100.844 0.26%
REYNOLDS GRP ISS/REYNOLD FRN 7/15/2021 101.75 0.26%
GOLDMAN SACHS GROUP INC 5.625 1/15/2017 101.19 0.25%
JPMMT 2015-1 AM1 FRN 12/25/2044 100.014 0.25%
LBUBS 2007-C7 A3 FRN 9/15/2045 103.613 0.25%
AMCAR 2015-3 C 2.73 3/8/2021 102.087 0.25%
FORD MOTOR CREDIT CO LLC 3.2 1/15/2021 102.764 0.25%
FCAT 2016-1 A 2.77 12/15/2020 101.008 0.25%
HARBOR FREIGHT 08/18/2023 TERM LOAN 100.688 0.25%
DTAOT 2015-3A C 3.25 7/15/2021 101.248 0.25%
HGVT 2013-A A 2.28 1/25/2026 99.6667 0.25%
PETROLEOS MEXICANOS 4.875 1/24/2022 102.25 0.25%
DROT 2014-1 A 2.54 5/20/2027 100.195 0.25%
CRART 2015-3 B 2.7 9/15/2021 101.949 0.25%
AFIN 2015-2 C 2.67 8/20/2020 101.114 0.25%
DTAOT 2016-3A C 3.15 3/15/2022 100.929 0.25%
COLNY 2014-1 A 2.5432 4/20/2050 99.7727 0.25%
BANK OF NY MELLON CORP 2.05 5/3/2021 100.742 0.25%
MOTEL 2015-MTL6 D 4.531573 2/5/2030 100.556 0.24%
NRZT 2014-1A A FRN 1/25/2054 104.576 0.24%
CCART 2015-BA D 4.17 1/16/2023 102.403 0.24%
CRART 2014-3 A4 1.79 3/16/2020 100.708 0.24%
HSBC HOLDINGS PLC 2.95 5/25/2021 101.492 0.24%
MICROSOFT CORP 1.55 8/8/2021 99.6607 0.24%
FN AZ4794 3 10/1/2030 105.114 0.24%
AFIN 2013-4 C 2.67 2/20/2019 101.093 0.24%
DTAOT 2016-2A C 3.67 1/18/2022 102.231 0.24%
ALLY FINANCIAL INC 4.25 4/15/2021 102.125 0.24%
CARRIZO OIL & GAS INC 6.25 4/15/2023 99.5 0.24%
GUANAY FINANCE LTD 6 12/15/2020 102.625 0.24%
JPMMT 2005-A2 4A1 FRN 4/25/2035 98.4269 0.24%
MGM GROWTH PROPERTIES 4/25/23 TERM LOAN 101.032 0.24%
WBCMT 2007-C31 A4 5.509 4/15/2047 100.917 0.24%
JPMMT 2014-1 2A2 FRN 1/25/2044 103.939 0.23%
QVC INC 3.125 4/1/2019 102.594 0.23%
CARMX 2015-2 C 2.39 3/15/2021 101.531 0.23%
HCA 03/17/23 TERM LOAN 101.273 0.23%
TPMT 2016-4 A1 FRN 7/25/2056 100.423 0.23%
LRF 2015-1 D 3.74 5/17/2021 99.5471 0.23%
MSCBB 2016-MART A 2.2004 9/13/2031 100.336 0.23%
Charter Comm Operating 07/01/20 Term Loan 100.431 0.23%
EART 2015-2A C 3.9 3/15/2021 101.328 0.23%
ACER 2015-1A B 2.26 6/10/2021 101.1 0.23%
MSC 2007-IQ16 A4 5.809 12/12/2049 102.848 0.23%
SDART 2014-3 C 2.13 8/17/2020 100.548 0.23%
MSRM 2014-1A A1 FRN 6/25/2044 101.664 0.23%
BSARM 2004-9 22A1 3.495455 11/25/2034 98.5566 0.23%
KINDER MORGAN INC/DELAWA 5.625 11/15/2023 110.412 0.23%
BSCMS 2007-PW17 A4 FRN 6/11/2050 102.765 0.23%
CSMC 2016-BDWN A FRN 2/15/2029 99.7368 0.22%
SEMT 2014-3 A9 FRN 10/25/2044 104.412 0.22%
TRI POINTE GROUP / HOMES 4.375 6/15/2019 103.375 0.22%
CHASE 2016-1 M2 FRN 4/25/2045 103.823 0.22%
CPF 2012-2A 1 2.61 8/20/2021 99.2725 0.22%
DELTA AIR LINES 2010-2A 4.95 5/23/2019 105.375 0.22%
HNGRY 2013-1A A2 4.474 3/20/2043 100.391 0.22%
CARMX 2016-2 B 2.16 12/15/2021 101.348 0.22%
JP MORGAN CHASE BANK NA 1.65 9/23/2019 100.358 0.22%
SEMT 2014-4 A6 FRN 11/25/2044 103.461 0.22%
AMCAR 2013-2 D 2.42 5/8/2019 100.742 0.22%
EXELON CORP 2.85 6/15/2020 103.778 0.22%
SASC 2004-4XS A3A 5.5 2/25/2034 102.985 0.21%
BANK OF NY MELLON CORP FRN PERPETUAL 12/29/2049 102.134 0.21%
DTAOT 2014-3A C 3.04 9/15/2020 100.933 0.21%
FIRST HORIZON NATIONAL 3.5 12/15/2020 102.163 0.21%
WEA FINANCE LLC/WESTFIEL 3.25 10/5/2020 104.283 0.21%
ENCANA CORP 3.9 11/15/2021 100.448 0.21%
JPMMT 2016-3 1A1 FRN 10/25/2046 103.766 0.21%
FIRST DATA 1/14 03/24/2021 TERM LOAN 100.854 0.21%
ABBVIE INC 2.5 5/14/2020 102.033 0.21%
CD 2007-CD4 A4 5.322 12/11/2049 100.434 0.21%
DELPHI AUTOMOTIVE PLC 3.15 11/19/2020 103.641 0.21%
CGCMT 2008-C7 AM FRN 12/10/2049 103.47 0.21%
AMHPT 1996-1 B1 FRN 3/15/2027 103.818 0.20%
GSR 2004-7 3A1 FRN 6/25/2034 97.122 0.20%
MARRIOTT INTERNATIONAL 3.125 10/15/2021 104.424 0.20%
CMLBC 2001-CMLB A3 FRN 6/20/2031 117.293 0.20%
WEN 2015-1A A2II 4.08 6/15/2045 101.826 0.20%
FORD MOTOR CREDIT CO LLC 8.125 1/15/2020 118.187 0.20%
JPMCC 2015-SGP B FRN 7/15/2036 100.415 0.20%
HILT 2013-HLT EFX FRN 11/5/2030 100.356 0.20%
NXP BV/NXP FUNDING LLC 4.125 6/1/2021 107.375 0.20%
BSARM 2004-1 21A1 FRN 4/25/2034 99.385 0.20%
MASCO CORP 3.5 4/1/2021 104 0.20%
FG G07961 3.5 3/1/2045 106.488 0.20%
MEG ENERGY 2/13 COV 03/31/20 TERM LOAN 93.708 0.20%
ALBERTSON 08/25/21 Term Loan 100.892 0.20%
PetSmart 5/15 Cov 03/11/22 Term Loan 100.317 0.20%
JPMMT 2014-OAK4 A16 FRN 9/25/2044 103.239 0.20%
AIR LEASE CORP 2.625 9/4/2018 100.955 0.20%
CHS/Community Health Systems 01/27/21 Term Loan 98.3815 0.20%
SELECT INCOME REIT 4.15 2/1/2022 100.593 0.19%
LINCOLN NATIONAL CORP 4.2 3/15/2022 108.35 0.19%
STATE GRID OVERSEAS INV 2.75 5/7/2019 102.927 0.19%
CMLTI 2014-A A FRN 1/25/2035 104.431 0.19%
FN AS6522 3.5 1/1/2046 105.522 0.19%
TPMT 2015-3 A1B FRN 3/25/2054 102.5 0.19%
EART 2015-1A C 4.1 12/15/2020 101.703 0.19%
STACR 2016-DNA2 M2 FRN 10/25/2028 101.673 0.19%
UPC FINANCING PARTNE 08/31/24 TERM LOAN 100.508 0.19%
CRART 2014-2 B 2.34 4/15/2020 101.351 0.19%
NGL ENRGY PART LP/FIN CO 5.125 7/15/2019 94.5 0.19%
AMCAR 2014-2 C 2.18 6/8/2020 100.986 0.19%
HART 2015-A D 2.73 6/15/2021 100.935 0.19%
TRANSDIGM 5/14 COV 06/04/21 TERM LOAN 100.209 0.19%
WLAKE 2015-1A C 2.29 11/16/2020 100.45 0.19%
AMERICAN AIRLINE 04/29/23 Term Loan 100.392 0.19%
TMCAT 2014-AA C 2.56 8/15/2019 100.333 0.19%
AESOP 2012-3A A 2.1 3/20/2019 100.329 0.19%
FCRT 2014-1 B 3.56 11/22/2021 100.27 0.19%
SLMA 2013-B A2A 1.85 6/17/2030 100.002 0.19%
SNAAC 2014-1A C 2.21 1/15/2020 100.178 0.19%
IND & COMM BK CHINA/NY 3.231 11/13/2019 104.219 0.19%
Aramark 2/14 02/24/21 Term Loan 100.751 0.19%
BACM 2007-4 AM FRN 2/10/2051 103.13 0.18%
ARISTOCRAT LEISUR 10/20/21 TERM LOAN 100.509 0.18%
CFCAT 2014-2A B 2.64 11/16/2020 100.712 0.18%
SDART 2013-5 D 2.73 10/15/2019 101.549 0.18%
CEQUEL/SUDDENLINK 12/14/22 TERM LOAN 100.907 0.18%
CMLTI 2015-PS1 A1 FRN 9/25/2042 104.032 0.18%
SANTANDER HOLDINGS USA 2.65 4/17/2020 100.684 0.18%
SOFI 2014-B A2 2.55 8/27/2029 101.544 0.18%
CORPORATE OFFICE PROP LP 3.7 6/15/2021 103.581 0.18%
MASTR 2003-5 4A5 5.5 6/25/2033 100.797 0.18%
MVWOT 2015-1A B 2.96 12/20/2032 100.854 0.18%
CWL 2004-S1 A3 5.115 2/25/2035 101.766 0.18%
WFMBS 2004-U A1 FRN 10/25/2034 99.6191 0.18%
DRB 2015-D A3 2.5 1/25/2036 100.484 0.18%
CGCMT 2016-SMPL A 2.228 9/10/2021 99.9991 0.18%
AIR CANADA 2013-1B PTT 5.375 5/15/2021 103.125 0.18%
REGENCY ENERGY PART/FINA 5 10/1/2022 105.676 0.17%
WLKRG 2015-AA A 2.79 6/16/2031 100.203 0.17%
AXIS BANK/DUBAI 3.25 5/21/2020 102.788 0.17%
WESTR 2016-1A A 3.5 12/20/2028 100.13 0.17%
MASCO CORP 5.95 3/15/2022 114.25 0.17%
JPMCC 2007-LDPX AM FRN 1/15/2049 98.1293 0.17%
WYNDHAM WORLDWIDE CORP 2.5 3/1/2018 101.078 0.17%
CXHE 2004-D AF5 5.85 9/25/2034 103.75 0.17%
FHR 4011 J 4 12/15/2041 105.706 0.17%
DELL INTERNATIONA 09/07/2023 TERM LOAN 100.71 0.17%
SOFI 2016-A A2 2.76 12/26/2036 102.587 0.17%
Hilton Worldwide Financ 10/25/23 Term Loan 100.734 0.17%
CONTL AIRLINES 2000-1 8.048 11/1/2020 111.875 0.17%
SDART 2013-3 C 1.81 4/15/2019 100.239 0.17%
CALPINE 5/ 05/27/22 TERM LOAN 100.426 0.17%
EART 2013-1A C 3.52 2/15/2019 100.58 0.17%
BAYV 2007-A 1A2 6.205 5/28/2037 104.28 0.17%
HP ENTERPRISE CO 2.45 10/5/2017 100.826 0.16%
DIGITAL REALTY TRUST LP 3.4 10/1/2020 104.311 0.16%
OMFIT 2014-1A A 2.43 6/18/2024 100.099 0.16%
CAFL 2015-1 A 2.896 10/15/2047 101.314 0.16%
SBA TOWER TRUST 3.156 10/15/2020 101.097 0.16%
ABMT 2013-1 A1 FRN 7/25/2043 103.169 0.16%
KOREA DEVELOPMENT BANK 4.625 11/16/2021 114.046 0.16%
HART 2014-B D 2.51 12/15/2020 100.617 0.16%
KRONOS 10/30/19 TERM LOAN 100.455 0.16%
AERCAP IRELAND CAP LTD/A 4.5 5/15/2021 104.875 0.16%
CORP ANDINA DE FOMENTO 2 5/10/2019 101.017 0.16%
CCG 2014-1 B 2.15 11/15/2021 100.353 0.16%
CENTENE CORP 4.75 5/15/2022 103.75 0.16%
SENIOR HOUSING PROPERTIE 3.25 5/1/2019 100.891 0.16%
CONTL AIRLINES 2001-1 6.703 6/15/2021 107.5 0.16%
CFCAT 2014-1A D 4.9 4/15/2020 100.395 0.16%
AWAS Aviation 07/16/18 Term Loan 100.5 0.16%
ONGLT 2015-AA A 2.88 9/8/2027 100.885 0.15%
TIAA ASSET MGMT FIN LLC 2.95 11/1/2019 103.115 0.15%
BXGNT 2015-A A 2.88 5/2/2030 101.168 0.15%
CORRECTIONS CORP OF AMER 5 10/15/2022 91 0.15%
SASC 2003-33H 1A1 5.5 10/25/2033 102.362 0.15%
GMACM 2004-AR1 12A 3.433185 6/25/2034 101.386 0.15%
CNART 2014-1A D 4.16 11/15/2018 100.665 0.15%
UBS GROUP FUNDING 2.65 2/1/2022 99.9371 0.15%
TEVA PHARMACEUTICALS NE 1.7 7/19/2019 99.8414 0.15%
REPUBLIC OF ARGENTINA 6.875 4/22/2021 109.1 0.15%
CROWN CASTLE INTL CORP 4.875 4/15/2022 111.8 0.15%
SARM 2004-1 6A FRN 2/25/2034 97.7564 0.15%
CENTURYLINK INC 7.5 4/1/2024 107 0.15%
NRG ENERGY INC 6/30/23 Term Loan 100.354 0.15%
REPUBLIC OF ARGENTINA 6.25 4/22/2019 106.3 0.15%
MOTEL 2015-MTL6 B 3.298311 2/5/2030 100.343 0.14%
JPMORGAN CHASE & CO 2.25 1/23/2020 101.361 0.14%
NEWELL BRANDS INC 2.6 3/29/2019 102.305 0.14%
T-MOBIL 11/09/22 TERM LOAN 100.959 0.14%
ABBVIE INC 2.3 5/14/2021 100.976 0.14%
WFMBS 2004-K 1A2 3.109312 7/25/2034 100.041 0.14%
CDS U.S. INTERMEDIATE HOLDINGS 07/08/22 TERM LOAN 100.271 0.14%
FN MA2495 3.5 1/1/2046 105.522 0.14%
MALT 2004-4 6A1 5.5 4/25/2034 103.988 0.14%
GLDKR 2014-A A 3.22 3/17/2031 100.372 0.14%
GENERAL MOTORS FINL CO 2.4 4/10/2018 100.759 0.13%
AFIN 2013-1 C 1.74 10/22/2018 100.108 0.13%
SVLF 2014-A A 2.81 1/15/2027 99.1257 0.13%
SDART 2012-6 D 2.52 9/17/2018 100.481 0.13%
LRF 2013-1 D 5.11 9/15/2021 101.875 0.13%
JMAC 2014-R1 1A1 4 12/27/2037 100.233 0.13%
CENTENE CORP 5.625 2/15/2021 106.25 0.13%
NRZT 2016-1A A1 FRN 3/25/2056 104.216 0.13%
Virgin Media 5/15 06/30/23 Term Loan 100.579 0.13%
DDR CORP 7.875 9/1/2020 120.204 0.13%
CHAI 2015-PM3 A 2.56 5/16/2022 100.042 0.13%
BOAMS 2004-7 6A3 4.5 8/25/2019 99.8319 0.13%
FIFTH THIRD BANCORP 4.5 6/1/2018 103.969 0.13%
APPLE INC 2.25 2/23/2021 102.643 0.12%
ZIONS BANCORP 4.5 3/27/2017 100.904 0.12%
BARCLAYS PLC 3.2 8/10/2021 100.611 0.12%
HP ENTERPRISE CO 2.85 10/5/2018 101.938 0.12%
MPLX LP 5.5 2/15/2023 103.399 0.12%
JPMMT 2014-1 1A1 FRN 1/25/2044 106.261 0.12%
IHO VERWALTUNGS GMBH 4.125 9/15/2021 101.25 0.12%
OMFIT 2015-2A A 2.57 7/18/2025 100.479 0.12%
Aramark 2/14 09/07/19 Term Loan 100.75 0.12%
VENTAS REALTY LP/CAP CRP 4 4/30/2019 105.114 0.12%
MASD 2005-3 A2 5.704 11/25/2035 101.151 0.12%
LENNAR CORP 4.5 11/15/2019 105.875 0.12%
STATE STREET CORP 4.956 3/15/2018 104.434 0.12%
BSARM 2004-10 12A3 FRN 1/25/2035 92.1113 0.12%
STATION CASINOS LLC 06/08/2023 100.812 0.12%
MDST 6 A4 7.79 7/1/2035 106.017 0.12%
ZIMMER BIOMET HOLDINGS 3.15 4/1/2022 103.574 0.11%
WESTERN DIGITAL 04/29/23 TERM LOAN 101.177 0.11%
WFMBS 2005-3 A12 5.5 5/25/2035 100.826 0.11%
Royalty Pharma 11/09/20 Term Loan 100.589 0.11%
FREEPORT-MCMORAN INC 3.875 3/15/2023 90.242 0.11%
LIBBEY 04/09/21 TERM LOAN 100.438 0.11%
NRZT 2014-2A A3 FRN 5/25/2054 104.458 0.11%
BACM 2007-2 A4 FRN 4/10/2049 100.548 0.11%
CMLTI 2004-UST1 A3 FRN 8/25/2034 100.269 0.11%
LAZARD GROUP LLC 4.25 11/14/2020 107.321 0.11%
Realogy Grou 07/20/22 Term Loan 101.328 0.11%
LEVEL 3 FINANCE TLB-5 L+275 05/31/22 Term Loan 100.697 0.11%
DELOS AIRCRAF 03/06/21 TERM LOAN 100.834 0.11%
JPMORGAN CHASE & CO 6.125 6/27/2017 103.387 0.11%
SARM 2004-5 3A2 FRN 5/25/2034 101.345 0.11%
SASC 2003-34A 6A FRN 11/25/2033 98.646 0.11%
VALE OVERSEAS LIMITED 5.875 6/10/2021 104.95 0.11%
CONTL AIRLINES 1999-1 6.545 2/2/2019 106.185 0.11%
JEFFERIES GROUP LLC 5.125 4/13/2018 104.44 0.11%
DIGITAL REALTY TRUST LP 3.95 7/1/2022 106.123 0.11%
DRUGB 2014-1 A2 3.484 7/15/2023 98.5876 0.11%
BSCMS 2006-PW14 AM 5.243 12/11/2038 100.096 0.11%
GENERAL MOTORS FINL CO 3.7 5/9/2023 101.851 0.11%
NATL RETAIL PROPERTIES 5.5 7/15/2021 114.003 0.11%
VOYA FINANCIAL INC 2.9 2/15/2018 101.911 0.11%
MAJAPAHIT HOLDING BV 7.75 1/20/2020 115.25 0.11%
T-MOBILE USA INC 6.464 4/28/2019 102 0.11%
BRITISH AIR 13-1 B PTT 5.625 6/20/2020 105.375 0.10%
Hilton Worldwide Financ 10/25/23 Term Loan 100.734 0.10%
SLMA 2013-C A2A 2.94 10/15/2031 102.084 0.10%
JPMMT 2004-A3 1A1 FRN 7/25/2034 99.2926 0.10%
ALLY FINANCIAL INC 4.125 3/30/2020 102 0.10%
SOFI 2015-A A2 2.42 3/25/2030 101.312 0.10%
CRMSI 2006-1 A4 5.939 7/25/2036 102.238 0.10%
TRMF 2011-1A A1A 4.37 7/15/2041 102.509 0.10%
FIRST DATA CORPORATION 5 1/15/2024 101.875 0.10%
AVMT 2013-AVM C FRN 12/5/2032 104.955 0.10%
ORACLE CORP 1.9 9/15/2021 100.323 0.10%
RANGE RESOURCES CORP 5 8/15/2022 100 0.10%
SASC 2003-37A 2A FRN 12/25/2033 99.5604 0.10%
JPMMT 2006-A2 4A1 FRN 8/25/2034 100.473 0.10%
WILLIS NORTH AMERICA INC 6.2 3/28/2017 102.191 0.10%
FIRST TENNESSEE BANK 2.95 12/1/2019 101.42 0.09%
TPMT 2015-5 A2 FRN 5/25/2055 101.316 0.09%
Valeant 9/13 Seri 02/13/19 Term Loan 100.227 0.09%
AMR 10/10/21 TERM LOAN 100.321 0.09%
AMERIGAS FINANCE LLC/COR 7 5/20/2022 106.25 0.09%
VOLT 2015-NPL2 A1 FRN 2/25/2055 100.25 0.09%
SANTANDER HOLDINGS USA 2.7 5/24/2019 101.311 0.09%
CSMC 2007-C1 A1A 5.361 2/15/2040 100.429 0.09%
NATCM 2008-1 2A1 6 3/25/2038 104.467 0.09%
UNIVISION COMMUNICATIONS 03/01/20 TERM LOAN 100.305 0.09%
WAMU 2003-AR6 A1 2.902741 6/25/2033 99.7198 0.09%
ON SEMICOND 03/31/23 TERM LOAN 100.599 0.09%
PENSKE TRUCK LEASING/PTL 3.375 2/1/2022 104.115 0.09%
VOLT 2015-NPL3 A1 FRN 10/25/2058 100.051 0.09%
COMMUNITY HEALTH 12/31/18 99.594 0.09%
BANK OF AMERICA CORP 2 1/11/2018 100.492 0.09%
CSMC 2010-RR7 1A FRN 8/12/2048 99.8688 0.09%
SPECTRUM BRANDS 6/15 (USD) COV 06/23/22 TERM LOAN 100.562 0.09%
HUNTSMAN INTERNAT 04/01/23 TERM LOAN 100.828 0.09%
HUNTINGTON BANCSHARES 7 12/15/2020 116.329 0.09%
TRMF 2014-1A A1 2.863 4/15/2044 99.6817 0.09%
TEXAS COMPETITIV 10/31/17 Term Loan 100.884 0.09%
Air Canada 09/26/19 Term Loan 100.312 0.09%
NRZT 2016-2A A1 FRN 11/25/2035 104.487 0.09%
ANCHOR GLASS 6/15 COV 07/01/22 TERM LOAN 100.771 0.09%
FNR 2012-10 PA 4 11/25/2041 102.859 0.09%
MCGRAW 05/04/22 TERM LOAN 100.8 0.09%
AT&T INC 3.875 8/15/2021 108.064 0.09%
BOAMS 2004-5 4A1 4.75 6/25/2019 100.15 0.08%
LEVEL 3 FINANACIN 01/15/20 TERM LOAN 100.65 0.08%
TEAM H 11/23/22 Term Loan 100.688 0.08%
MALT 2005-2 2A1 6 1/25/2035 103.88 0.08%
HGVT 2014-AA A 1.77 11/25/2026 99.3019 0.08%
WFMBS 2004-A A1 2.83461 2/25/2034 100.857 0.08%
MSC 2007-IQ14 AM FRN 4/15/2049 96.8639 0.08%
ARES CAPITAL CORP 3.875 1/15/2020 103.506 0.08%
SHIRE ACQ INV IRELAND DA 2.4 9/23/2021 100.241 0.08%
GT 1995-5 B1 FRN 9/15/2026 102.062 0.08%
ANTERO RESOURCES CORP 5.625 6/1/2023 102.375 0.08%
ABFC 2005-AQ1 A6 4.78 6/25/2035 103.419 0.08%
BANK OF AMERICA CORP 5.65 5/1/2018 106.117 0.08%
PROVINCIA DE BUENOS AIRE 5.75 6/15/2019 103.375 0.08%
RFMS2 2003-HS2 AIIB FRN 6/25/2028 97.7166 0.08%
HANESBRANDS INC 4.625 5/15/2024 103.125 0.08%
AT&T INC 3 6/30/2022 102.942 0.08%
FOREST LABORATORIES LLC 4.375 2/1/2019 105.401 0.08%
VOLT 2016-NPL8 A1 FRN 7/25/2046 100.316 0.08%
SASC 2004-15 3A3 5.5 9/25/2034 100.884 0.08%
HCA INC 6.5 2/15/2020 111 0.08%
Emdeon 11/02/18 Term Loan 100.292 0.08%
GAHR 2015-NRF CFX FRN 12/15/2034 101.931 0.08%
UNIVERSAL HEALTH SVCS 4.75 8/1/2022 103.5 0.08%
BAYC 2008-1 A3 FRN 1/25/2038 98.0729 0.08%
CFCAT 2014-1A B 2.72 4/15/2020 100.644 0.08%
HERTZ 2016-1A A 2.32 3/25/2020 100.569 0.08%
SHIRE ACQ INV IRELAND DA 1.9 9/23/2019 100.02 0.07%
WLAKE 2014-1A C 1.7 11/15/2019 100.041 0.07%
PENSKE TRUCK LEASING/PTL 2.5 6/15/2019 101.529 0.07%
AVIATION CAPITAL GROUP 2.875 9/17/2018 101.375 0.07%
SPRINGLEAF FINANCE CORP 5.25 12/15/2019 102.375 0.07%
Ineos 6/15 12/15/20 Term Loan 100.35 0.07%
JPMMT 2014-2 2A2 FRN 6/25/2029 103.333 0.07%
LEIDOS/ABACUS INNOV 08/16/2023 TERM LOAN 100.698 0.07%
BAFC 2005-1 1A1 5.5 2/25/2035 100.364 0.07%
KRAFT HEINZ FOODS CO 2.8 7/2/2020 103.723 0.07%
MASTR 2005-1 1A1 5 5/25/2020 100.992 0.07%
IRWHE 2003-A M1 FRN 10/25/2027 99.3542 0.07%
NXP 12/07/20 TERM LOAN 100.569 0.07%
ANCHOR GLASS 6/15 COV 07/01/22 TERM LOAN 100.771 0.07%
CMLTI 2003-UP3 A2 7 9/25/2033 104.119 0.07%
ANCHOR GLASS 6/15 COV 07/01/22 TERM LOAN 100.771 0.07%
COTY/GAL 01/26/23 TERM LOAN 100.609 0.07%
TOLL BROS FINANCE CORP 4 12/31/2018 103.875 0.07%
MORGAN STANLEY 2.125 4/25/2018 100.879 0.07%
Acadia Healthcare 02/16/23 Term Loan 100.844 0.07%
BXGNT 2013-A A 3.01 12/4/2028 101.109 0.07%
CONTL AIRLINES 1999-2 6.236 3/15/2020 105.25 0.07%
PolyOne 6/16 Cov 11/11/22 Term Loan 101.125 0.07%
WFMBS 2003-J 2A1 2.958009 10/25/2033 100.684 0.07%
MYLAN NV 3.15 6/15/2021 101.986 0.06%
BAFC 2004-A 5A1 3.121007 7/20/2034 99.4856 0.06%
AERCAP IRELAND CAP LTD/A 4.25 7/1/2020 104 0.06%
JPMORGAN CHASE & CO 2.295 8/15/2021 100.273 0.06%
WFMBS 2003-J 5A1 2.97186 10/25/2033 100.941 0.06%
CDS U.S. INTERMEDIATE HOLDINGS 07/08/22 TERM LOAN 100.271 0.06%
GOLDMAN SACHS GROUP INC 2.35 11/15/2021 99.8875 0.06%
TEVA PHARMACEUTICALS NE 2.2 7/21/2021 99.7357 0.06%
MSC 2008-T29 A4 FRN 1/11/2043 104.697 0.06%
TENET HEALTHCARE CORP 6.25 11/1/2018 107.25 0.06%
WAMMS 2003-AR4 2A1 2.478958 8/25/2033 98.6238 0.06%
HARRAH'S 10/31/16 TERM LOAN 115.354 0.06%
DUN & BRADSTREET CORP 4 6/15/2020 104.44 0.06%
ORACLE CORP 2.4 9/15/2023 100.896 0.06%
WFMBS 2004-Z 2A1 2.855362 12/25/2034 102.056 0.06%
HEALTHCARE TRUST OF AMER 3.375 7/15/2021 103.738 0.06%
BOYD GAMING 9/15/2023 TERM LOAN 100.9 0.06%
CWALT 2004-22CB 1A1 6 10/25/2034 107.74 0.06%
AERCAP IRELAND CAP LTD/A 3.95 2/1/2022 102.75 0.06%
DUN & BRADSTREET CORP 3.25 12/1/2017 101.656 0.06%
CSFB 2004-AR8 6A1 FRN 9/25/2034 99.1013 0.06%
BLUE RACER MID LLC/FINAN 6.125 11/15/2022 98.25 0.06%
DDR CORP 3.5 1/15/2021 103.799 0.06%
VOLT 2015-NPL4 A1 FRN 2/25/2055 100.325 0.06%
CFCAT 2013-2A B 3.15 8/15/2019 100.635 0.06%
BAE SYSTEMS HOLDINGS INC 2.85 12/15/2020 102.456 0.06%
APPLE INC 2.85 2/23/2023 105.361 0.06%
LINCOLN NATIONAL CORP 8.75 7/1/2019 117.78 0.06%
DTAOT 2014-2A C 2.46 1/15/2020 100.278 0.06%
GSAA 2005-1 AF4 5.619 11/25/2034 103.713 0.05%
FRESENIUS US FINANCE II 4.5 1/15/2023 104.75 0.05%
ALLY FINANCIAL INC 3.25 11/5/2018 100.75 0.05%
ENDO PHARMACEUTICALS 09/26/22 TERM LOAN 99.9025 0.05%
SPECTRUM BRANDS 6/15 (USD) COV 06/23/22 TERM LOAN 100.562 0.05%
HCP INC 3.75 2/1/2019 103.574 0.05%
TOLL BROS FINANCE CORP 4.875 11/15/2025 102.75 0.05%
CGCMT 2007-C6 A4 FRN 12/10/2049 101.828 0.05%
DONNELLEY FINANCIAL SOLU 09/23/23 TERM LOAN 100.625 0.05%
MICROSOFT CORP 2 8/8/2023 99.9617 0.05%
VERIZON COMMUNICATIONS 4.6 4/1/2021 111.382 0.05%
SRFC 2014-1A A 2.07 3/20/2030 99.5177 0.05%
VOLT 2014-NPL9 A1 FRN 11/25/2054 100.184 0.05%
DTAOT 2014-1A C 2.64 10/15/2019 100.145 0.05%
Emdeon 11/02/18 Term Loan 100.291 0.05%
JPMMT 2004-A4 2A1 FRN 9/25/2034 101.499 0.05%
TOLL BROS FINANCE CORP 6.75 11/1/2019 113 0.05%
SARM 2004-4 3A1 FRN 4/25/2034 98.6875 0.05%
WFMBS 2004-K 2A12 3.095465 7/25/2034 101.851 0.05%
OMFIT 2015-1A A 3.19 3/18/2026 101.144 0.05%
BCRR 2009-1 2A1 FRN 7/17/2040 100.002 0.04%
AMERICAN AXLE & MFG INC 5.125 2/15/2019 101.653 0.04%
ENBRIDGE ENERGY PARTNERS 4.375 10/15/2020 105.56 0.04%
WFMBS 2005-14 2A1 5.5 12/25/2035 103.95 0.04%
ARISTOCRAT LEISUR 10/20/21 TERM LOAN 100.509 0.04%
TENET HEALTHCARE CORP 6 10/1/2020 106 0.04%
BAMH 1998-1 B1 FRN 8/10/2025 102.136 0.04%
KIMCO REALTY CORP 3.4 11/1/2022 105.489 0.04%
MULTIPLA 06/07/23 TERM LOAN 101.391 0.04%
UNITED AIR LINES 09/15/2021 TERM LOAN 100.625 0.04%
JPMCC 2006-LDP7 AM FRN 4/17/2045 99.8574 0.04%
AMERICAN CAMPUS CMNTYS 3.35 10/1/2020 104.201 0.04%
BOYD GAMING 08/14//2013 TERM LOAN 100.812 0.04%
OWENS & MINOR INC 3.875 9/15/2021 103.433 0.04%
FNR 2009-36 NA 5 6/25/2037 106.146 0.04%
Air Canada 09/21/23 Term Loan 100.35 0.04%
SRFC 2012-2A B 3.42 3/20/2029 100.419 0.04%
ESH HOSPITALIT 08/30/23 TERM LOAN 100.866 0.03%
COTY/GAL 10/27/22 TERM LOAN 101.312 0.03%
DIAMOND 1 FIN/DIAMOND 2 5.45 6/15/2023 107.293 0.03%
SRFC 2014-2A A 2.05 6/20/2031 100.09 0.03%
CHARTER COMM OPERATING 08/24/2021 TERM LOAN H 100.537 0.03%
ACTAVIS FUNDING SCS 3.45 3/15/2022 105.111 0.03%
ACTAVIS FUNDING SCS 3 3/12/2020 103.334 0.03%
GOVERNMENT PROPERTIES IN 3.75 8/15/2019 102.518 0.03%
APF 2015-A A 2.61 4/15/2020 99.9375 0.03%
SIX FLAGS THEME PARK 06/30/22 TERM LOAN 100.896 0.03%
SVLF 2012-D A 3 3/17/2025 100.062 0.03%
ARES CAPITAL CORP 4.875 11/30/2018 104.44 0.03%
LINCOLN NATIONAL CORP FRN 4/20/2067 77.25 0.03%
CHARTER COMM OPERATING 01/24/2023 TERM LOAN I 100.771 0.03%
CSFB 2004-8 6A1 4.5 12/25/2019 100.836 0.03%
QUINTILES TRANSNATIONAL 05/12/22 TERM LOAN 100.146 0.03%
RASC 2004-KS2 AI6 FRN 3/25/2034 101.221 0.03%
SPECTRUM BRANDS 6/15 (USD) COV 06/23/22 TERM LOAN 100.562 0.03%
BANK OF AMERICA CORP 5.49 3/15/2019 108.169 0.03%
HP ENTERPRISE CO 3.6 10/15/2020 105.019 0.03%
NEWELL BRANDS INC 3.15 4/1/2021 104.293 0.03%
NEW YORK LIFE GLOBAL FDG 1.95 2/11/2020 101.29 0.02%
TEVA PHARMACEUTICALS NE 2.8 7/21/2023 100.411 0.02%
Pinnacle Foods Financ 01/13/23 Term Loan 100.963 0.02%
TECK RESOURCES LIMITED 8 6/1/2021 109 0.02%
TEXAS COMPETITIV 10/31/17 Term Loan 100.884 0.02%
VERIZON COMMUNICATIONS 3.65 9/14/2018 104.424 0.02%
DOMINION RESOURCES INC 2.962 7/1/2019 102.708 0.02%
OCCIDENTAL PETROLEUM COR 2.6 4/15/2022 102.229 0.02%
SIX FLAGS THEME PARK 06/30/22 TERM LOAN 100.896 0.02%
NEWELL BRANDS INC 3.85 4/1/2023 106.596 0.02%
MPT OPER PARTNERSP/FINL 6.375 2/15/2022 104.625 0.02%
AIRGAS INC 3.05 8/1/2020 103.832 0.02%
HILTON WORLDWIDE HLG 10/26/20 TERM LOAN 100.713 0.02%
VALVOLINE INC 5.5 7/15/2024 105 0.02%
JPMORGAN CHASE & CO FRN PERPETUAL 12/29/2049 101.625 0.02%
TRANSDIGM 5/14 COV 06/04/21 TERM LOAN 100.209 0.01%
TOLL BROS FINANCE CORP 5.625 1/15/2024 107.25 0.01%
HOLLY ENERGY PARTNERS LP 6 8/1/2024 104 0.01%
CHS/COMMUNITY HEALTH SYS 5.125 8/15/2018 101.01 0.01%
SPECTRUM BRANDS 6/15 (USD) COV 06/23/22 TERM LOAN 100.563 0.01%
WFMBS 2003-G A1 2.894446 6/25/2033 100.477 0.01%
HILTON WORLDWIDE HLG 10/26/20 TERM LOAN 100.712 0.01%
Emdeon 11/02/18 Term Loan 100.291 0.00%
EART 2013-2A B 3.09 7/16/2018 100.055 0.00%
SABINE OIL & GAS CORP 7.25 6/15/2019 1.8625 0.00%
CHS/Community Health Systems 01/27/21 Term Loan 98.3816 0.00%
CEQUEL/SUDDENLINK 12/14/22 TERM LOAN 100.906 0.00%
SPECTRUM BRANDS 6/15 (USD) COV 06/23/22 TERM LOAN 100.562 0.00%
SIX FLAGS THEME PARK 06/30/22 TERM LOAN 100.897 0.00%
100 -0.16%

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

    0.17%

  • Gross Expense Ratio

    0.82%

  • Fee Waiver and/or Expense Reimbursement

    -0.07%

  • Net Expense Ratio

    0.75%*

  • *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.