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IHY VanEck International High Yield Bond ETF Please read important disclosure Close important disclosure false

IHY
VanEck International High Yield Bond ETF

IHY
VanEck International High Yield Bond ETF

  • NAV
    $21.87

    as of November 14, 2025
  • YTD RETURNS
    11.12%

    as of November 14, 2025
  • Total Net Assets
    $45.93M

    as of November 14, 2025
  • Total Expense Ratio
    0.40%
  • Inception Date
    04/02/2012
  • 30-Day SEC Yield
    5.30%

About IHY

The VanEck International High Yield Bond ETF (IHY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE BofA Global ex-US Issuers High Yield Constrained Index (HXUS), which is comprised of U.S. dollar, Canadian dollar, pound sterling, and euro denominated below investment grade corporate bonds issued by non-U.S. corporations in the major domestic or Eurobond markets.

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Overview

Why IHY

  • Broad exposure to the non-U.S. high yield market
  • Higher credit quality versus US high yield bonds
  • Diversifies a U.S.-only high yield exposure

Yields  as of  11/14/2025

Distribution Frequency

Monthly

30-Day SEC Yield

5.30%

Distribution Yield

5.61%

12 Month Yield

5.24%

Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck International High Yield Bond ETF would have been 5.30% on 11/14/25. Distributions may vary from time to time.

Performance

Performance History:

Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/02/12
IHY (NAV) -0.45 1.98 11.01 9.39 12.34 3.01 4.21 4.25
IHY (Share Price) -0.21 1.98 11.63 9.80 12.34 3.17 4.28 4.27
HXUS (Index) -0.60 1.86 11.40 9.94 13.73 3.64 4.84 4.91
Performance Differential (NAV - Index) 0.15 0.12 -0.39 -0.55 -1.39 -0.63 -0.63 -0.66
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/02/12
IHY (NAV) 0.68 2.25 11.51 8.33 12.93 3.14 4.59 4.32
IHY (Share Price) 0.44 1.66 11.87 7.94 13.05 3.11 4.61 4.31
HXUS (Index) 0.69 2.48 12.07 9.21 14.31 3.81 5.24 4.98
Performance Differential (NAV - Index) -0.01 -0.23 -0.56 -0.88 -1.38 -0.67 -0.65 -0.66

*Returns less than one year are not annualized.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

Prices as of 11/14/2025

NAV/
Market
Price 		Volume
30-Day Avg./
Last Trading Day 		Daily Change
NAV/
Last Price 		YTD Change NAV/
Last Price 		Premium/
Discount 		30-Day
Median
Bid Ask
Spread 		NAV
Chart
IHY $21.87
$21.89 		25,512
3,916 		$-0.05 / -0.22%
$0.00 / 0.00% 		+11.12%
+11.67% 		$0.02
0.09% 		0.32%

Fees

Holdings

Daily Holdings (%) as of 11/13/2025

Download XLS Get holdings
Total Holdings: 564
Holding Name % of Net
Assets
Maturity
Identifier (FIGI)
 Coupon Asset Class Market Value
Par Value/ Contracts
 Country Currency Notional Value
Petroleos Mexicanos 0.61
02/16/2032
BBG015PXLJ57
 6.700 Bond 279619.78
275,000
 Mexico USD --
Petroleos Mexicanos 0.56
01/23/2050
BBG00XKLY8D9
 7.690 Bond 255754.68
275,000
 Mexico USD --
Banco Bpm Spa 0.55
11/26/2036
BBG01QXVDV03
 4.500 Bond 251692.78
200,000
 Italy EUR --
British Telecommunications Plc 0.53
10/03/2054
BBG01M5D2J84
 5.125 Bond 244391.77
200,000
 United Kingdom EUR --
Teva Pharmaceutical Finance Netherlands 0.52
05/09/2030
BBG0136TNQ18
 4.375 Bond 240994.87
200,000
 Netherlands EUR --
Lorca Telecom Bondco Sa 0.51
09/18/2027
BBG00XJCF3P0
 4.000 Bond 234764.32
200,000
 Spain EUR --
Telecom Italia Capital Sa 0.50
06/04/2038
BBG00000X252
 7.721 Bond 228351.20
200,000
 Italy USD --
Electricite De France Sa 0.48
09/15/2071
BBG00X6ZBM75
 3.375 Bond 222864.22
200,000
 France EUR --
Vz Vendor Financing Ii Bv 0.48
01/15/2029
BBG00YG1TGD4
 2.875 Bond 221069.94
200,000
 Netherlands EUR --
Turkiye Ihracat Kredi Bankasi As 0.47
01/28/2027
BBG01JX2Y9P2
 9.000 Bond 216093.39
200,000
 Turkey USD --
Zf Europe Finance Bv 0.46
10/23/2029
BBG00QKHKDY4
 3.000 Bond 212868.88
200,000
 Germany EUR --
Bapco Energies Bsc Closed 0.46
10/25/2027
BBG00HZYT9D4
 7.500 Bond 209420.83
200,000
 Bahrain USD --
Alpha Star Holding Viii Ltd 0.45
04/12/2027
BBG01JLRW446
 8.375 Bond 208671.07
200,000
 United Arab Emirates USD --
Fibercop Spa 0.45
06/04/2038
BBG01NL845N6
 7.721 Bond 207473.40
200,000
 United States USD --
Softbank Group Corp 0.44
07/19/2067
BBG00H33CYF8
 6.875 Bond 203432.05
200,000
 Japan USD --
Softbank Group Corp 0.44
09/19/2027
BBG00HPCXC41
 5.125 Bond 200940.22
200,000
 Japan USD --
Cfamc Iii Co Ltd 0.43
11/07/2027
BBG00J3QGMZ3
 4.250 Bond 199652.89
200,000
 China USD --
Virgin Media Vendor Financing Notes Iii 0.43
07/15/2028
BBG00V7Q1L44
 4.875 Bond 195918.34
150,000
 Ireland GBP --
Samarco Mineracao Sa 0.42
06/30/2031
BBG01KH0FB04
 9.500 Bond 193563.92
191,564
 Brazil USD --
Upl Corp Ltd 0.41
06/16/2030
BBG00VCMHVJ2
 4.625 Bond 190982.95
200,000
 Mauritius USD --
Bper Banca Spa 0.41
09/11/2029
BBG01J62HT40
 5.750 Bond 189596.16
150,000
 Italy EUR --
Grupo Nutresa Sa 0.37
05/12/2035
BBG01TVRY5T1
 9.000 Bond 170412.00
150,000
 Colombia USD --
Belron Uk Finance Plc 0.33
10/15/2029
BBG01Q32YVC4
 5.750 Bond 152775.60
150,000
 United Kingdom USD --
Aroundtown Finance Sarl 0.33
11/07/2074
BBG01MNZP0J9
 7.875 Bond 152011.74
150,000
 Luxembourg USD --
Petroleos Mexicanos 0.32
01/28/2031
BBG00XKLXL14
 5.950 Bond 149129.30
150,000
 Mexico USD --
Nissan Motor Co Ltd 0.32
09/17/2027
BBG00X7YS2P3
 4.345 Bond 148055.09
150,000
 Japan USD --
Vodafone Group Plc 0.32
08/30/2086
BBG01GSLNZH5
 8.000 Bond 146366.23
100,000
 United Kingdom GBP --
B&M European Value Retail Sa 0.31
11/15/2030
BBG01K4FP2S4
 8.125 Bond 142812.03
100,000
 United Kingdom GBP --
Edge Finco Plc 0.31
08/15/2031
BBG01Q33CRW3
 8.125 Bond 141089.37
100,000
 United Kingdom GBP --
Saavi Energia Sarl 0.30
02/10/2035
BBG01S4PQ936
 8.875 Bond 136958.76
125,000
 Luxembourg USD --
Jerrold Finco Plc 0.30
04/15/2030
BBG01M5DX679
 7.875 Bond 136471.44
100,000
 United Kingdom GBP --
Electricite De France Sa 0.30
03/17/2075
BBG01PP18479
 7.375 Bond 135941.86
100,000
 France GBP --
Var Energi Asa 0.29
11/15/2083
BBG01K1XB5F0
 7.862 Bond 135751.13
100,000
 Norway EUR --
Telefonica Europe Bv 0.29
11/23/2073
BBG01BHWTD41
 7.125 Bond 135200.96
100,000
 Netherlands EUR --
Bayer Ag 0.29
09/25/2083
BBG01JG299X0
 7.000 Bond 134598.38
100,000
 Germany EUR --
Electricite De France Sa 0.29
07/22/2064
BBG005TSHYD8
 5.875 Bond 133799.80
100,000
 France GBP --
Air France-Klm 0.29
05/31/2028
BBG01C6ZFD76
 8.125 Bond 133782.15
100,000
 France EUR --
Teva Pharmaceutical Finance Netherlands 0.29
09/15/2029
BBG01FNWDH25
 7.375 Bond 133747.35
100,000
 Netherlands EUR --
Accor Sa 0.29
04/11/2074
BBG01JLS20H1
 7.250 Bond 133375.83
100,000
 France EUR --
Cpi Property Group Sa 0.28
01/22/2028
BBG00RDG2W98
 2.750 Bond 130650.83
100,000
 Luxembourg GBP --
Fibercop Spa 0.28
07/31/2028
BBG01NLGHQX7
 7.875 Bond 130537.78
100,000
 United States EUR --
Iliad Sa 0.28
02/15/2030
BBG01F5S4K18
 5.625 Bond 130452.73
100,000
 France EUR --
Koninklijke Kpn Nv 0.28
12/21/2072
BBG019LTDL83
 6.000 Bond 129072.99
100,000
 Netherlands EUR --
Banca Ifis Spa 0.28
02/27/2029
BBG01LLZ1BQ7
 5.500 Bond 128515.52
100,000
 Italy EUR --
Telefonica Europe Bv 0.28
04/15/2075
BBG01LV3QX00
 5.752 Bond 127972.26
100,000
 Netherlands EUR --
Webuild Spa 0.28
09/27/2028
BBG01JFH97L5
 7.000 Bond 127834.18
100,000
 Italy EUR --
Energo - Pro As 0.28
05/27/2030
BBG01TW2P4Q1
 8.000 Bond 127638.27
100,000
 Czech Republic EUR --
Iho Verwaltungs Gmbh 0.28
05/15/2028
BBG01G12YF15
 8.750 Bond 127222.86
100,000
 Germany EUR --
Alpha Bank Sa 0.28
09/13/2034
BBG01N5CJPY3
 6.000 Bond 127212.33
100,000
 Greece EUR --
Edp Sa 0.28
04/23/2083
BBG01CCNVYT8
 5.943 Bond 126934.82
100,000
 Portugal EUR --
Eurofins Scientific Se 0.28
12/31/2049
BBG01CCV3F85
 6.750 Bond 126682.62
100,000
 France EUR --
Lhmc Finco 2 Sarl 0.27
05/15/2030
BBG01TT1BNW3
 8.625 Bond 126387.51
100,000
 Luxembourg EUR --
Saipem Finance International Bv 0.27
05/30/2030
BBG01N088FQ0
 4.875 Bond 126298.54
100,000
 Netherlands EUR --
New Immo Holding Sa 0.27
03/22/2029
BBG01JDFZZP6
 6.000 Bond 126229.22
100,000
 France EUR --
Ams-Osram Ag 0.27
03/30/2029
BBG01K4G61H7
 10.500 Bond 125931.22
100,000
 Austria EUR --
Rossini Sarl 0.27
12/31/2029
BBG01NP68348
 6.750 Bond 125742.44
100,000
 Luxembourg EUR --
Bellis Acquisition Co Plc 0.27
05/14/2030
BBG01MNJSDH6
 8.125 Bond 125550.77
100,000
 United Kingdom GBP --
Tennet Holding Bv 0.27
04/01/2032
BBG01LY08T93
 4.875 Bond 125265.05
100,000
 Netherlands EUR --
Heathrow Finance Plc 0.27
09/01/2029
BBG00QTXHV01
 4.625 Bond 124992.92
100,000
 United Kingdom GBP --
Amber Finco Plc 0.27
07/15/2029
BBG01NKW8L19
 6.625 Bond 124716.60
100,000
 United Kingdom EUR --
Picard Groupe Sas 0.27
07/01/2029
BBG01NH85HB7
 6.375 Bond 124683.59
100,000
 France EUR --
New Immo Holding Sa 0.27
04/17/2028
BBG01MBYJ538
 5.875 Bond 124649.61
100,000
 France EUR --
Abertis Infraestructuras Finance Bv 0.27
02/28/2075
BBG01QXJ9BY2
 4.870 Bond 124335.33
100,000
 Netherlands EUR --
Metro Ag 0.27
03/05/2030
BBG01SHZSY97
 4.000 Bond 124308.36
100,000
 Germany EUR --
Verisure Holding Ab 0.27
05/15/2030
BBG01MNJFHS9
 5.500 Bond 124194.09
100,000
 Sweden EUR --
Alstom Sa 0.27
12/31/2049
BBG01N07Q5P5
 5.868 Bond 124126.15
100,000
 France EUR --
Edp Sa 0.27
09/16/2054
BBG01PNL53P2
 4.625 Bond 123873.76
100,000
 Portugal EUR --
Boels Topholding Bv 0.27
05/15/2030
BBG01MG2C923
 5.750 Bond 123809.69
100,000
 Netherlands EUR --
Lottomatica Group Spa 0.27
06/01/2030
BBG01MV9PYN9
 5.375 Bond 123758.22
100,000
 Italy EUR --
Loarre Investments Sarl 0.27
05/15/2029
BBG0178HB399
 6.500 Bond 123690.42
100,000
 Luxembourg EUR --
Edp Sa 0.27
05/29/2054
BBG01N07D7S2
 4.750 Bond 123671.88
100,000
 Portugal EUR --
Piraeus Financial Holdings Sa 0.27
09/18/2035
BBG01PNLTN45
 5.375 Bond 123632.84
100,000
 Greece EUR --
Ardonagh Finco Ltd 0.27
02/15/2031
BBG01LC3NKY5
 6.875 Bond 123627.17
100,000
 United Kingdom EUR --
Mbh Bank Nyrt 0.27
01/29/2030
BBG01RX1TYL1
 5.250 Bond 123623.46
100,000
 Hungary EUR --
Luna 1.5 Sarl 0.27
07/01/2032
BBG01WH3DTJ5
 10.500 Bond 123506.55
100,000
 Luxembourg EUR --
Forvia Se 0.27
06/15/2030
BBG01SX2CN93
 5.625 Bond 123425.55
100,000
 France EUR --
Cma Cgm Sa 0.27
07/15/2029
BBG01NHB3LJ5
 5.500 Bond 123419.12
100,000
 France EUR --
Essendi Sa 0.27
10/15/2029
BBG01PSNKHP5
 6.375 Bond 123264.87
100,000
 Luxembourg EUR --
Forvia Se 0.27
06/15/2031
BBG01LR2M2L6
 5.500 Bond 123178.88
100,000
 France EUR --
Czechoslovak Group As 0.27
01/10/2031
BBG01VQYYKM1
 5.250 Bond 123107.20
100,000
 Czech Republic EUR --
Softbank Group Corp 0.27
01/08/2029
BBG01NHGH4M3
 5.375 Bond 122973.96
100,000
 Japan EUR --
Iliad Sa 0.27
06/14/2027
BBG01BW9JZT0
 5.375 Bond 122973.44
100,000
 France EUR --
Prysmian Spa 0.27
12/31/2049
BBG01TYD7GC3
 5.250 Bond 122914.06
100,000
 Italy EUR --
Schaeffler Ag 0.27
03/28/2030
BBG01M429GJ6
 4.500 Bond 122477.53
100,000
 Germany EUR --
Rci Banque Sa 0.27
10/09/2034
BBG01NH7FJV2
 5.500 Bond 122381.24
100,000
 France EUR --
Tui Cruises Gmbh 0.27
05/15/2030
BBG01QXJ0KJ8
 5.000 Bond 122336.83
100,000
 Germany EUR --
Valeo Se 0.27
04/11/2030
BBG01M9GLHB2
 4.500 Bond 122215.49
100,000
 France EUR --
Volvo Car Ab 0.27
05/31/2028
BBG017QJS4Q6
 4.250 Bond 122152.87
100,000
 Sweden EUR --
Fnac Darty Sa 0.27
04/01/2029
BBG01M2CM426
 6.000 Bond 122151.11
100,000
 France EUR --
Virgin Media Secured Finance Plc 0.27
01/15/2030
BBG00QG1H2Z1
 4.250 Bond 122066.78
100,000
 United Kingdom GBP --
Vmed O2 Uk Financing I Plc 0.26
07/15/2031
BBG011K2BYS2
 4.500 Bond 121884.52
100,000
 United Kingdom GBP --
Nexans Sa 0.26
05/29/2029
BBG01N07TD39
 4.125 Bond 121806.49
100,000
 France EUR --
Matterhorn Telecom Sa 0.26
01/30/2030
BBG01RR68B85
 4.500 Bond 121803.78
100,000
 Luxembourg EUR --
A2a Spa 0.26
12/31/2049
BBG01N5B1BP5
 5.000 Bond 121785.73
100,000
 Italy EUR --
Petroleos Mexicanos 0.26
02/26/2029
BBG00KXPPSX8
 4.750 Bond 121695.60
100,000
 Mexico EUR --
Currenta Group Holdings Sarl 0.26
05/15/2030
BBG01TVP8QJ9
 5.500 Bond 121574.15
100,000
 Luxembourg EUR --
Opal Bidco Sas 0.26
03/31/2032
BBG01T0J02L5
 5.500 Bond 121534.31
100,000
 France EUR --
Nidda Healthcare Holding Gmbh 0.26
02/21/2030
BBG01Q6TN3J9
 5.625 Bond 121302.87
100,000
 Germany EUR --
1011778 Bc Ulc / New Red Finance Inc 0.26
02/15/2029
BBG00XY80957
 3.500 Bond 120838.65
125,000
 Canada USD --
Techem Verwaltungsgesellschaft 675 Mbh 0.26
07/15/2029
BBG01MBKQN04
 5.375 Bond 120769.72
100,000
 Germany EUR --
Infrastrutture Wireless Italiane Spa 0.26
04/01/2030
BBG01T1WYGB8
 3.750 Bond 120711.79
100,000
 Italy EUR --
Unibail-Rodamco-Westfield Se 0.26
10/04/2075
BBG01T2Q2DC1
 4.875 Bond 120677.53
100,000
 France EUR --
Eramet Sa 0.26
11/30/2029
BBG01N07JR66
 6.500 Bond 120517.57
100,000
 France EUR --
Sunrise Finco I Bv 0.26
05/15/2032
BBG01V563Z00
 4.625 Bond 120387.58
100,000
 Netherlands EUR --
Public Power Corp Sa 0.26
10/31/2031
BBG01QFY1FV1
 4.625 Bond 120356.28
100,000
 Greece EUR --
Banca Transilvania Sa 0.26
09/30/2030
BBG01Q06GZ11
 5.125 Bond 120197.71
100,000
 Romania EUR --
Vivion Investments Sarl 0.26
08/31/2028
BBG01J31WG19
 6.500 Bond 120161.16
101,505
 Luxembourg EUR --
Azelis Finance Nv 0.26
09/25/2029
BBG01PPNGHJ0
 4.750 Bond 119954.34
100,000
 Belgium EUR --
Ses Sa 0.26
09/12/2054
BBG01PKB6KD1
 5.500 Bond 119897.17
100,000
 Luxembourg EUR --
Seche Environnement Saca 0.26
03/25/2030
BBG01SWH14M0
 4.500 Bond 119865.22
100,000
 France EUR --
Softbank Group Corp 0.26
04/15/2028
BBG00KF09400
 5.000 Bond 119812.99
100,000
 Japan EUR --
Veolia Environnement Sa 0.26
08/20/2075
BBG01TYV7555
 4.371 Bond 119747.72
100,000
 France EUR --
Jaguar Land Rover Automotive Plc 0.26
07/15/2028
BBG011QKYKK9
 4.500 Bond 119627.63
100,000
 United Kingdom EUR --
Eurobank Ergasias Services And Holdings 0.26
04/30/2035
BBG01RXCS2C8
 4.250 Bond 119595.17
100,000
 Greece EUR --
Gruenenthal Gmbh 0.26
05/15/2028
BBG010814Z05
 4.125 Bond 119493.56
100,000
 Germany EUR --
Metlen Energy & Metals Sa 0.26
10/17/2029
BBG01Q6BTJJ7
 4.000 Bond 119372.09
100,000
 Greece EUR --
Altice Financing Sa 0.26
01/15/2028
BBG00RBBHG54
 5.000 Bond 119335.00
150,000
 Luxembourg USD --
Verisure Midholding Ab 0.26
02/15/2029
BBG00YVS6VX8
 5.250 Bond 118865.52
100,000
 Sweden EUR --
Market Bidco Finco Plc 0.26
01/31/2031
BBG01VYDFF22
 6.750 Bond 118516.90
100,000
 United Kingdom EUR --
Vmed O2 Uk Financing I Plc 0.26
04/15/2032
BBG01M5CYGN0
 5.625 Bond 118494.09
100,000
 United Kingdom EUR --
Cidron Aida Finco Sarl 0.26
10/27/2031
BBG01T4LH210
 7.000 Bond 118352.60
100,000
 Luxembourg EUR --
Fressnapf Holding Se 0.26
10/31/2031
BBG01QFY3QS9
 5.250 Bond 118137.68
100,000
 Germany EUR --
Almaviva-The Italian Innovation Co Spa 0.26
10/30/2030
BBG01QFZ9SW1
 5.000 Bond 117868.18
100,000
 Italy EUR --
Softbank Group Corp 0.26
09/19/2029
BBG00HPJL7F8
 4.000 Bond 117813.96
100,000
 Japan EUR --
Eircom Finance Dac 0.26
02/15/2027
BBG00QPG1L01
 2.625 Bond 117806.44
100,000
 Ireland EUR --
Progroup Ag 0.26
04/15/2031
BBG01M2DPTW3
 5.375 Bond 117796.77
100,000
 Germany EUR --
Zf Europe Finance Bv 0.26
01/31/2029
BBG01L5N8DM5
 4.750 Bond 117754.46
100,000
 Netherlands EUR --
Tereos Finance Groupe I Sa 0.26
04/15/2028
BBG01CCNVHC3
 7.250 Bond 117729.56
100,000
 France EUR --
Telenet Finance Luxembourg Notes Sarl 0.26
03/01/2028
BBG00JCPV9Q7
 3.500 Bond 117718.47
100,000
 Luxembourg EUR --
Odido Holding Bv 0.26
01/15/2029
BBG013YMPPH5
 3.750 Bond 117700.18
100,000
 Netherlands EUR --
Teva Pharmaceutical Finance Netherlands 0.26
05/09/2027
BBG0136TNNQ8
 3.750 Bond 117613.87
100,000
 Netherlands EUR --
Castellum Ab 0.26
01/01/2099
BBG0129033V0
 3.125 Bond 117580.95
100,000
 Sweden EUR --
Paprec Holding Sa 0.25
07/01/2028
BBG011JFZ815
 3.500 Bond 117258.02
100,000
 France EUR --
Renault Sa 0.25
04/01/2028
BBG00ZS963N4
 2.500 Bond 117156.26
100,000
 France EUR --
Forvia Se 0.25
06/15/2027
BBG00QV15TC3
 2.375 Bond 116846.65
100,000
 France EUR --
United Group Bv 0.25
02/15/2028
BBG00RHC2G52
 3.625 Bond 116722.10
100,000
 Netherlands EUR --
Zf North America Capital Inc 0.25
04/23/2032
BBG01MG436C4
 6.875 Bond 116692.28
125,000
 United States USD --
Schaeffler Ag 0.25
10/12/2028
BBG00XRR6GD2
 3.375 Bond 116552.25
100,000
 Germany EUR --
Flora Food Management Bv 0.25
07/02/2029
BBG01NC0VCR4
 6.875 Bond 116283.15
100,000
 Netherlands EUR --
Eutelsat Sa 0.25
07/13/2027
BBG00PD35882
 2.250 Bond 116002.66
100,000
 France EUR --
Dufry One Bv 0.25
02/15/2027
BBG00QS9WC19
 2.000 Bond 115960.50
100,000
 Netherlands EUR --
Cheplapharm Arzneimittel Gmbh 0.25
01/15/2028
BBG00XRR28C5
 4.375 Bond 115942.47
100,000
 Germany EUR --
Q-Park Holding I Bv 0.25
03/01/2027
BBG00RMFKL67
 2.000 Bond 115921.98
100,000
 United States EUR --
Snf Group Saca 0.25
02/01/2029
BBG00XD11ZP4
 2.625 Bond 115687.90
100,000
 France EUR --
Nissan Motor Co Ltd 0.25
09/17/2028
BBG00X9BTJL7
 3.201 Bond 115456.91
100,000
 Japan EUR --
Rexel Sa 0.25
06/15/2028
BBG010FN1YC2
 2.125 Bond 115398.62
100,000
 France EUR --
Wintershall Dea Finance 2 Bv 0.25
01/20/2169
BBG00YVS7P79
 3.000 Bond 115259.66
100,000
 Netherlands EUR --
Ngg Finance Plc 0.25
09/05/2082
BBG00Q41DZT2
 2.125 Bond 115123.08
100,000
 United Kingdom EUR --
Softbank Group Corp 0.25
07/06/2029
BBG011MR1PW0
 3.375 Bond 115061.77
100,000
 Japan EUR --
Ineos Finance Plc 0.25
05/15/2028
BBG01F3Z6LN6
 6.625 Bond 115044.54
100,000
 United Kingdom EUR --
Grifols Sa 0.25
10/15/2028
BBG012NHPYP2
 3.875 Bond 114958.87
100,000
 Spain EUR --
Heimstaden Bostad Ab 0.25
05/01/2071
BBG00Z1683Y5
 2.625 Bond 114760.48
100,000
 Sweden EUR --
Bayer Ag 0.25
11/12/2079
BBG00QT4YB55
 3.125 Bond 114612.00
100,000
 Germany EUR --
Eg Global Finance Plc 0.25
11/30/2028
BBG01K200S63
 12.000 Bond 114578.93
100,000
 United Kingdom USD --
Veolia Environnement Sa 0.25
04/20/2169
BBG00XV8V6Z9
 2.500 Bond 113868.52
100,000
 France EUR --
Mahle Gmbh 0.25
05/14/2028
BBG010RS7YS5
 2.375 Bond 113550.36
100,000
 Germany EUR --
Bulgarian Energy Holding Ead 0.25
07/22/2028
BBG011RJGLQ3
 2.450 Bond 113536.32
100,000
 Bulgaria EUR --
Orsted As 0.25
12/09/2099
BBG00R00V308
 1.750 Bond 113491.77
100,000
 Denmark EUR --
Poste Italiane Spa 0.25
06/24/2072
BBG011F46LK6
 2.625 Bond 113326.09
100,000
 Italy EUR --
Telecom Italia Spa/Milano 0.25
01/18/2029
BBG00YV01QT0
 1.625 Bond 113121.24
100,000
 Italy EUR --
Bcp V Modular Services Finance Ii Plc 0.25
11/30/2028
BBG012VFPFX9
 4.750 Bond 113120.26
100,000
 United Kingdom EUR --
Zegona Finance Plc 0.25
07/15/2029
BBG01NL7CDB5
 6.750 Bond 113071.85
90,000
 United Kingdom EUR --
Allwyn Entertainment Financing Uk Plc 0.24
04/30/2030
BBG01G9HK8Q8
 7.250 Bond 112626.27
90,000
 United Kingdom EUR --
Vmed O2 Uk Financing I Plc 0.24
01/31/2031
BBG00X6ZGSY7
 3.250 Bond 112618.69
100,000
 United Kingdom EUR --
Rakuten Group Inc 0.24
04/15/2029
BBG01M7V9D79
 9.750 Bond 112523.46
100,000
 Japan USD --
Ecopetrol Sa 0.24
11/02/2031
BBG0136Y1ZJ2
 4.625 Bond 112357.96
125,000
 Colombia USD --
Telefonica Europe Bv 0.24
02/12/2170
BBG00Z4GPF10
 2.376 Bond 112332.98
100,000
 Netherlands EUR --
Citycon Treasury Bv 0.24
07/08/2031
BBG01T5STVX2
 5.375 Bond 112029.31
100,000
 Netherlands EUR --
Loxam Sas 0.24
05/31/2029
BBG01KFNFRW6
 6.375 Bond 111366.00
90,000
 France EUR --
Emeria Sasu 0.24
03/31/2028
BBG01DD5KKQ9
 7.750 Bond 111071.15
100,000
 France EUR --
Valeo Se 0.24
08/03/2028
BBG011XTZZP3
 1.000 Bond 111001.01
100,000
 France EUR --
Yapi Ve Kredi Bankasi As 0.24
10/16/2028
BBG01J6F67Z7
 9.250 Bond 109834.71
100,000
 Turkey USD --
Transnet/South Africa 0.24
02/06/2028
BBG01DD2RLC2
 8.250 Bond 108378.33
100,000
 South Africa USD --
Cab Selas 0.24
02/01/2028
BBG00Z1667H7
 3.375 Bond 108276.99
100,000
 France EUR --
Holding D'Infrastructures Des Metiers D 0.24
09/16/2028
BBG012F0KZS7
 0.625 Bond 108182.38
100,000
 France EUR --
Iho Verwaltungs Gmbh 0.23
11/15/2030
BBG01Q33MTD9
 7.750 Bond 108097.90
100,000
 Germany USD --
Iliad Holding Sas 0.23
04/15/2031
BBG01MNPY7J6
 8.500 Bond 107842.33
100,000
 France USD --
Turkiye Is Bankasi As 0.23
06/12/2029
BBG01N67MNY4
 7.750 Bond 107787.75
100,000
 Turkey USD --
Yinson Bergenia Production Bv 0.23
01/31/2045
BBG01VT73ZK0
 8.498 Bond 107565.81
100,000
 Netherlands USD --
Akbank Tas 0.23
01/20/2030
BBG01N9SPR37
 7.498 Bond 107526.34
100,000
 Turkey USD --
Turk Telekomunikasyon As 0.23
05/20/2029
BBG01MRRB516
 7.375 Bond 107409.88
100,000
 Turkey USD --
Delhi International Airport Ltd 0.23
06/04/2029
BBG00P2XL2D7
 6.450 Bond 107255.83
100,000
 India USD --
Hta Group Ltd/Mauritius 0.23
06/04/2029
BBG01MZK6858
 7.500 Bond 107121.98
100,000
 United Kingdom USD --
Ardonagh Finco Ltd 0.23
02/15/2031
BBG01LC23V57
 7.750 Bond 107102.93
100,000
 United Kingdom USD --
Gfl Environmental Inc 0.23
01/15/2031
BBG01KCBW6L4
 6.750 Bond 106938.80
100,000
 Canada USD --
Tgs Asa 0.23
01/15/2030
BBG01QXJ4P67
 8.500 Bond 106868.54
100,000
 Norway USD --
Turkiye Vakiflar Bankasi Tao 0.23
10/05/2034
BBG01NJ8TBL1
 8.994 Bond 106774.35
100,000
 Turkey USD --
Ineos Finance Plc 0.23
04/15/2029
BBG01L7ZHZT0
 6.375 Bond 106727.27
100,000
 United Kingdom EUR --
Turkcell Iletisim Hizmetleri As 0.23
01/24/2030
BBG01RQT69D7
 7.450 Bond 106658.54
100,000
 Turkey USD --
Kioxia Holdings Corp 0.23
07/24/2033
BBG01W344DX7
 6.625 Bond 106415.81
100,000
 Japan USD --
Ecopetrol Sa 0.23
01/19/2036
BBG01KY1MDH3
 8.375 Bond 106279.72
100,000
 Colombia USD --
Turkiye Garanti Bankasi As 0.23
01/03/2035
BBG01QZB6RQ4
 8.125 Bond 106244.57
100,000
 Turkey USD --
Fs Luxembourg Sarl 0.23
02/12/2031
BBG01L8DV0M6
 8.875 Bond 106207.31
100,000
 Luxembourg USD --
Muangthai Capital Pcl 0.23
07/21/2030
BBG01VZ3KGC4
 7.550 Bond 105980.15
100,000
 Thailand USD --
Pluspetrol Sa 0.23
05/30/2032
BBG01V69BJ00
 8.500 Bond 105898.23
100,000
 Argentina USD --
Ziggo Bond Co Bv 0.23
02/28/2030
BBG00RMZ36S1
 3.375 Bond 105854.00
100,000
 Netherlands EUR --
Ion Platform Finance Us Inc / Ion Platf 0.23
05/30/2029
BBG01XRTDZT0
 9.500 Bond 105773.47
100,000
 United States USD --
Iifl Finance Ltd 0.23
07/24/2028
BBG01RKZF949
 8.750 Bond 105757.92
100,000
 India USD --
Ithaca Energy North Sea Plc 0.23
10/15/2029
BBG01Q75MTP7
 8.125 Bond 105540.38
100,000
 United Kingdom USD --
Oztel Holdings Spc Ltd 0.23
04/24/2028
BBG00KN0ZM84
 6.625 Bond 105364.63
100,000
 Oman USD --
Cerdia Finanz Gmbh 0.23
10/03/2031
BBG01PZSJ379
 9.375 Bond 105354.25
100,000
 Germany USD --
Seadrill Finance Ltd 0.23
08/01/2030
BBG01HDK4L29
 8.375 Bond 105343.54
100,000
 Bermuda USD --
Turkiye Vakiflar Bankasi Tao 0.23
07/31/2030
BBG01VW0XPW7
 7.250 Bond 105252.05
100,000
 Turkey USD --
Nickel Industries Ltd 0.23
09/30/2030
BBG01XHJXTJ6
 9.000 Bond 105129.70
100,000
 Indonesia USD --
Bell Telephone Co Of Canada Or Bell Can 0.23
09/15/2055
BBG01S8F16R1
 6.875 Bond 105041.04
100,000
 Canada USD --
Tc Ziraat Bankasi As 0.23
02/04/2030
BBG01S1708B0
 7.250 Bond 104897.22
100,000
 Turkey USD --
Ivanhoe Mines Ltd 0.23
01/23/2030
BBG01RV19P16
 7.875 Bond 104874.40
100,000
 Canada USD --
Ocp Sa 0.23
04/25/2044
BBG006BRH1Q5
 6.875 Bond 104823.77
100,000
 Morocco USD --
Albion Financing 1 Sarl / Aggreko Holdi 0.23
05/21/2030
BBG01TYXTNH5
 7.000 Bond 104739.87
100,000
 Luxembourg USD --
Mineral Resources Ltd 0.23
04/01/2031
BBG01XH51709
 7.000 Bond 104715.16
100,000
 Australia USD --
First Quantum Minerals Ltd 0.23
02/15/2034
BBG01WJX7WS7
 7.250 Bond 104708.00
100,000
 Canada USD --
Petroleos Mexicanos 0.23
09/21/2047
BBG00FM535P8
 6.750 Bond 104705.79
125,000
 Mexico USD --
Navoi Mining & Metallurgical Combinat 0.23
10/17/2028
BBG01Q5PB4X3
 6.700 Bond 104411.75
100,000
 Uzbekistan USD --
Vedanta Resources Finance Ii Plc 0.23
07/24/2030
BBG01RQQTM94
 9.475 Bond 104404.03
100,000
 United Kingdom USD --
Mineral Resources Ltd 0.23
05/01/2030
BBG017186YY6
 8.500 Bond 104380.36
100,000
 Australia USD --
Maxam Prill Sarl 0.23
07/15/2030
BBG01VQYZ2W9
 7.750 Bond 104372.40
100,000
 Luxembourg USD --
Continuum Green Energy India Pvt / Co-I 0.23
06/26/2033
BBG01N2PCYN7
 7.500 Bond 104371.92
96,450
 India USD --
Worldline Sa/France 0.23
11/27/2029
BBG01QXHXVM8
 5.250 Bond 104232.68
100,000
 France EUR --
Stena International Sa 0.23
01/15/2031
BBG01KXPP228
 7.250 Bond 104155.37
100,000
 Luxembourg USD --
Latam Airlines Group Sa 0.23
04/15/2030
BBG01Q3N0BS2
 7.875 Bond 103921.25
100,000
 Chile USD --
Banco Do Brasil Sa/Cayman 0.23
03/18/2031
BBG01LXCW637
 6.000 Bond 103828.61
100,000
 Brazil USD --
Digicel International Finance Ltd / Dif 0.23
08/01/2032
BBG01W9T70R8
 8.625 Bond 103607.09
100,000
 Bermuda USD --
Fortescue Treasury Pty Ltd 0.23
04/15/2030
BBG016LSGS92
 5.875 Bond 103567.08
100,000
 Australia USD --
Cpi Property Group Sa 0.22
01/14/2030
BBG014G3F2J5
 1.750 Bond 103465.26
100,000
 Luxembourg EUR --
Rb Global Holdings Inc 0.22
03/15/2028
BBG01FP4C6R3
 6.750 Bond 103381.20
100,000
 United States USD --
Rede D'Or Finance Sarl 0.22
09/09/2035
BBG01X2KNBG2
 6.450 Bond 103108.61
100,000
 Luxembourg USD --
Azule Energy Finance Plc 0.22
01/23/2030
BBG01RQTCMK3
 8.125 Bond 103084.53
100,000
 United Kingdom USD --
Froneri Lux Finco Sarl 0.22
08/01/2032
BBG01W0ZNHQ9
 6.000 Bond 102659.33
100,000
 Luxembourg USD --
1011778 Bc Ulc / New Red Finance Inc 0.22
09/15/2029
BBG01PKLH4M3
 5.625 Bond 102564.70
100,000
 Canada USD --
Ecopetrol Sa 0.22
04/29/2030
BBG00TGKZJN9
 6.875 Bond 102551.56
100,000
 Colombia USD --
Sasol Financing Usa Llc 0.22
05/03/2029
BBG01GF4KYT0
 8.750 Bond 102220.77
100,000
 United States USD --
Banco Votorantim Sa/Luxembourg 0.22
04/08/2028
BBG01T5XYRZ2
 5.875 Bond 101950.82
100,000
 Brazil USD --
Iliad Holding Sas 0.22
10/15/2028
BBG012V276L1
 7.000 Bond 101896.63
100,000
 France USD --
Methanex Corp 0.22
12/15/2029
BBG00Q6Y2GK1
 5.250 Bond 101844.98
100,000
 Canada USD --
Tk Elevator Us Newco Inc 0.22
07/15/2027
BBG00VSHFQR0
 5.250 Bond 101791.90
100,000
 Luxembourg USD --
Muthoot Finance Ltd 0.22
04/23/2029
BBG01Q9MJGK5
 6.375 Bond 101681.70
100,000
 India USD --
Caixa Economica Federal 0.22
05/13/2030
BBG01TX7B402
 5.625 Bond 101243.75
100,000
 Brazil USD --
Atos Se 0.22
12/18/2029
BBG01R8W8Y70
 7.398 Bond 101235.91
75,000
 France EUR --
Oq Saoc 0.22
05/06/2028
BBG010FNPM78
 5.125 Bond 101145.75
100,000
 Oman USD --
Wynn Macau Ltd 0.22
08/26/2028
BBG00WS5XGN0
 5.625 Bond 101135.71
100,000
 United States USD --
Inversiones Cmpc Sa 0.22
12/09/2057
BBG01X2KQX08
 6.700 Bond 100978.33
100,000
 Chile USD --
Mgm China Holdings Ltd 0.22
02/01/2027
BBG00ZSKZRB7
 4.750 Bond 100888.61
100,000
 China USD --
Ion Platform Finance Us Inc / Ion Platf 0.22
05/01/2029
BBG01XS5YP01
 8.750 Bond 100887.18
100,000
 United States USD --
Telecommunications Co Telekom Srbija Ad 0.22
10/28/2029
BBG01QB0YBZ8
 7.000 Bond 100865.67
100,000
 Serbia USD --
Asg Finance Dac 0.22
05/15/2029
BBG01MS0QRS1
 9.750 Bond 100763.00
100,000
 Ireland USD --
Bapco Energies Sukuk Ltd 0.22
04/08/2029
BBG00ZVV47G2
 5.250 Bond 100646.04
100,000
 Cayman Islands USD --
Melco Resorts Finance Ltd 0.22
12/04/2029
BBG00QYZLJ02
 5.375 Bond 100608.67
100,000
 China USD --
Biocon Biologics Global Plc 0.22
10/09/2029
BBG01Q3XHGD7
 6.670 Bond 99565.91
100,000
 United Kingdom USD --
Petrobras Global Finance Bv 0.22
01/10/2036
BBG01X1F2VS0
 6.250 Bond 99308.47
100,000
 Netherlands USD --
Globo Comunicacao E Participacoes S/A 0.22
01/14/2032
BBG014FG46G3
 5.500 Bond 99298.55
100,000
 Brazil USD --
Petrobras Global Finance Bv 0.22
09/10/2030
BBG01X1F2VP3
 5.125 Bond 99270.35
100,000
 Netherlands USD --
Gfl Environmental Inc 0.22
08/01/2028
BBG00Y6SB3S8
 4.000 Bond 99061.91
100,000
 Canada USD --
Atlantica Sustainable Infrastructure Lt 0.21
06/15/2028
BBG0110RHYG6
 4.125 Bond 98894.69
100,000
 United Kingdom USD --
Central American Bottling Corp / Cbc Bo 0.21
04/27/2029
BBG014QZPM26
 5.250 Bond 98867.67
100,000
 Guatemala USD --
Intrum Investments And Financing Ab 0.21
09/11/2030
BBG01W8ZD908
 8.500 Bond 98370.57
100,000
 Sweden EUR --
Cpi Property Group Sa 0.21
01/27/2031
BBG00YZ28JL9
 1.500 Bond 98001.18
100,000
 Luxembourg EUR --
Jsw Steel Ltd 0.21
04/05/2032
BBG012JDBC51
 5.050 Bond 97731.02
100,000
 India USD --
Aegea Finance Sarl 0.21
01/20/2036
BBG01XL79P48
 7.625 Bond 97576.04
100,000
 Luxembourg USD --
Motion Bondco Dac 0.21
11/15/2027
BBG00QKDSSF3
 6.625 Bond 97453.06
100,000
 United Kingdom USD --
Studio City Finance Ltd 0.21
01/15/2029
BBG00YRFTQK1
 5.000 Bond 97362.16
100,000
 China USD --
Csn Resources Sa 0.21
12/05/2030
BBG01KD6MWS1
 8.875 Bond 97206.94
100,000
 Luxembourg USD --
Ion Platform Finance Us Inc 0.21
09/30/2032
BBG01XHZDMM3
 7.875 Bond 97037.04
100,000
 Luxembourg USD --
Canpack Sa / Canpack Us Llc 0.21
11/15/2029
BBG012TG3JT1
 3.875 Bond 97010.88
100,000
 Poland USD --
Toucan Finco Ltd/Toucan Finco Can Inc/T 0.21
05/15/2030
BBG01TRLYDG6
 9.500 Bond 96855.46
100,000
 Jersey USD --
Sunrise Finco I Bv 0.21
07/15/2031
BBG00ZXXQW40
 4.875 Bond 96836.50
100,000
 Netherlands USD --
San Miguel Industrias Pet Sa / Ng Pet R 0.21
08/02/2028
BBG011Y7VGL0
 3.750 Bond 96245.39
100,000
 Peru USD --
Constellium Se 0.21
04/15/2029
BBG00Z6PNZ07
 3.750 Bond 95687.02
100,000
 France USD --
Vodafone Group Plc 0.21
06/04/2081
BBG0118XKVS4
 4.125 Bond 95564.17
100,000
 United Kingdom USD --
1011778 Bc Ulc / New Red Finance Inc 0.21
10/15/2030
BBG00XDH1DV1
 4.000 Bond 95038.32
100,000
 Canada USD --
Natura &Co Luxembourg Holdings Sarl 0.21
05/03/2028
BBG010FXDT92
 4.125 Bond 94877.48
100,000
 Brazil USD --
Ziggo Bv 0.21
01/15/2030
BBG00QL6KSS1
 4.875 Bond 94566.21
100,000
 Netherlands USD --
Enfragen Energia Sur Sa / Enfragen Spai 0.20
12/30/2030
BBG00YGL2V64
 5.375 Bond 94315.62
100,000
 United States USD --
Ecopetrol Sa 0.20
09/18/2043
BBG00582F0G1
 7.375 Bond 94009.55
100,000
 Colombia USD --
Vmed O2 Uk Financing I Plc 0.20
07/15/2031
BBG011K2BTP6
 4.750 Bond 93729.92
100,000
 United Kingdom USD --
Ineos Quattro Finance 2 Plc 0.20
03/15/2029
BBG01K1X8412
 9.625 Bond 92117.50
100,000
 United Kingdom USD --
Klabin Austria Gmbh 0.20
01/12/2031
BBG00YS3VZM2
 3.200 Bond 91568.37
100,000
 Brazil USD --
Mobico Group Plc 0.20
09/26/2031
BBG01JCXZ137
 4.875 Bond 90549.75
100,000
 United Kingdom EUR --
Sbb Treasury Oyj 0.19
11/26/2029
BBG0113FTGF6
 1.125 Bond 86555.26
100,000
 Finland EUR --
Cerba Healthcare Saca 0.19
05/31/2028
BBG010WH0NQ6
 3.500 Bond 85921.92
100,000
 France EUR --
Ypf Sa 0.18
09/11/2031
BBG01PL2DPW0
 8.750 Bond 84578.54
81,000
 Argentina USD --
Bombardier Inc 0.18
11/15/2030
BBG01K1Z2S29
 8.750 Bond 84185.25
75,000
 Canada USD --
Ecopetrol Sa 0.18
01/13/2033
BBG01C9JG584
 8.875 Bond 83348.47
75,000
 Colombia USD --
Rakuten Group Inc 0.18
02/15/2027
BBG01L6Y6ZC4
 11.250 Bond 82910.31
75,000
 Japan USD --
Vodafone Group Plc 0.18
06/04/2081
BBG0118XWJT7
 5.125 Bond 82274.70
100,000
 United Kingdom USD --
Nissan Motor Co Ltd 0.18
07/17/2035
BBG01W15W3Q5
 8.125 Bond 81445.12
75,000
 Japan USD --
Telecom Argentina Sa 0.18
07/18/2031
BBG01NR55KZ9
 9.500 Bond 80878.12
75,000
 Argentina USD --
Connect Finco Sarl / Connect Us Finco L 0.17
09/15/2029
BBG01PNMWYR0
 9.000 Bond 80438.32
75,000
 Luxembourg USD --
Vodafone Group Plc 0.17
04/04/2079
BBG00NR6TKJ0
 7.000 Bond 79600.65
75,000
 United Kingdom USD --
Ecopetrol Sa 0.17
02/01/2032
BBG01Q6VXC30
 7.750 Bond 79328.47
75,000
 Colombia USD --
Garda World Security Corp 0.17
11/15/2032
BBG01QK41LZ4
 8.375 Bond 79270.42
75,000
 Canada USD --
Amer Sports Co 0.17
02/16/2031
BBG01LCJHJ43
 6.750 Bond 79004.78
75,000
 United States USD --
Avianca Midco 2 Plc 0.17
12/01/2028
BBG01S6ZX4Q0
 9.000 Bond 78356.25
75,000
 United Kingdom USD --
Petrobras Global Finance Bv 0.17
01/27/2028
BBG00LQM92M8
 5.999 Bond 78310.26
75,000
 Brazil USD --
Greenko Power Ii Ltd 0.17
12/13/2028
BBG013Y4NYJ6
 4.300 Bond 77414.40
79,750
 Mauritius USD --
Petroleos Mexicanos 0.17
03/13/2027
BBG00K5W8536
 6.500 Bond 77288.96
75,000
 Mexico USD --
Panama Infrastructure Receivable Purcha 0.17
04/05/2032
BBG01M8LQMT7
 -- Bond 77265.50
100,000
 United Kingdom USD --
Sable International Finance Ltd 0.17
10/15/2032
BBG01Q0829S1
 7.125 Bond 76137.26
75,000
 Cayman Islands USD --
Wynn Macau Ltd 0.16
12/15/2029
BBG00R28RQ49
 5.125 Bond 75351.15
75,000
 United States USD --
Altice France Sa 0.16
03/15/2032
BBG01XFDXS85
 6.500 Bond 75074.63
77,010
 France USD --
Petrobras Global Finance Bv 0.16
06/05/2115
BBG009BNFQ03
 6.850 Bond 74798.69
75,000
 Brazil USD --
1011778 Bc Ulc / New Red Finance Inc 0.16
01/15/2028
BBG00Q6KWZM4
 3.875 Bond 74168.81
75,000
 Canada USD --
Sunoco Lp 0.16
10/01/2029
BBG01Y677WG7
 4.500 Bond 73619.50
75,000
 United States USD --
Rogers Communications Inc 0.16
12/17/2081
BBG013ZG9JY0
 5.000 Bond 73617.27
100,000
 Canada CAD --
Ypf Sa 0.16
09/30/2033
BBG00Z73N6V5
 7.000 Bond 73120.27
75,000
 Argentina USD --
Air Canada 0.16
08/15/2029
BBG011Y65982
 4.625 Bond 72354.09
100,000
 Canada CAD --
Empresas Publicas De Medellin Esp 0.16
07/18/2029
BBG00PPPYQ97
 4.250 Bond 72139.27
75,000
 Colombia USD --
Open Text Corp 0.16
12/01/2029
BBG013FZTRY0
 3.875 Bond 71993.59
75,000
 Canada USD --
Nissan Motor Co Ltd 0.15
09/17/2030
BBG00X7YT6N5
 4.810 Bond 70888.84
75,000
 Japan USD --
Minerva Luxembourg Sa 0.15
03/18/2031
BBG00ZJ0C016
 4.375 Bond 69774.32
75,000
 Luxembourg USD --
Aes Panama Generation Holdings Srl 0.15
05/31/2030
BBG00WLL1Y58
 4.375 Bond 66812.49
70,563
 Panama USD --
Star Energy Geothermal Wayang Windu Ltd 0.14
04/24/2033
BBG00KN7FXK3
 6.750 Bond 66213.47
63,750
 Singapore USD --
Petroleos Del Peru Sa 0.14
06/19/2032
BBG00GXFJWB1
 4.750 Bond 64831.04
75,000
 Peru USD --
Electricite De France Sa 0.13
12/15/2073
BBG01GY7Z5X4
 9.125 Bond 59758.84
50,000
 France USD --
Petroleos Mexicanos 0.13
02/07/2033
BBG01JLH8JY9
 10.000 Bond 59486.62
50,000
 Mexico USD --
Telus Corp 0.13
07/21/2055
BBG01THX43T2
 6.250 Bond 58337.68
75,000
 Canada CAD --
Mong Duong Finance Holdings Bv 0.12
05/07/2029
BBG00PV1N2T6
 5.125 Bond 57352.14
57,938
 United States USD --
Petroleos Mexicanos 0.12
06/02/2029
BBG019SQ9ZW9
 8.750 Bond 55819.75
50,000
 Mexico USD --
Bombardier Inc 0.12
05/01/2034
BBG00008TWC6
 7.450 Bond 55762.56
50,000
 Canada USD --
Ecopetrol Sa 0.12
01/19/2029
BBG01H7RQ9N1
 8.625 Bond 55366.13
50,000
 Colombia USD --
Bell Telephone Co Of Canada Or Bell Can 0.12
03/27/2055
BBG01T0616K4
 5.625 Bond 55311.23
75,000
 Canada CAD --
Yinson Boronia Production Bv 0.12
07/31/2042
BBG01N1PJKD2
 8.947 Bond 54849.68
49,055
 Netherlands USD --
Nova Chemicals Corp 0.12
11/15/2028
BBG01K2LJKD6
 8.500 Bond 54582.75
50,000
 Canada USD --
First Quantum Minerals Ltd 0.12
06/01/2031
BBG01GNY62R3
 8.625 Bond 54426.28
50,000
 Canada USD --
Garrett Motion Holdings Inc / Garrett L 0.12
05/31/2032
BBG01MRC7JY8
 7.750 Bond 54422.07
50,000
 United States USD --
Bombardier Inc 0.12
07/01/2031
BBG01M4T02S7
 7.250 Bond 54405.50
50,000
 Canada USD --
Eushi Finance Inc 0.12
12/15/2054
BBG01R8YWGX9
 7.625 Bond 54079.64
50,000
 United States USD --
Mersin Uluslararasi Liman Isletmeciligi 0.12
11/15/2028
BBG01K1XCKP5
 8.250 Bond 54063.88
50,000
 Turkey USD --
Aegea Finance Sarl 0.12
01/20/2031
BBG01JJW4PT5
 9.000 Bond 54056.80
50,000
 Luxembourg USD --
Energean Israel Finance Ltd 0.12
09/30/2033
BBG01H754DC6
 8.500 Bond 53994.36
50,000
 Israel USD --
Standard Chartered Plc 0.12
07/30/2049
BBG0000HWJH6
 7.014 Bond 53993.52
50,000
 United Kingdom USD --
Ihs Holding Ltd 0.12
11/29/2031
BBG01QVH0Q47
 8.250 Bond 53914.61
50,000
 United Kingdom USD --
First Quantum Minerals Ltd 0.12
03/01/2029
BBG01LNT8JM9
 9.375 Bond 53853.54
50,000
 Canada USD --
Grupo Nutresa Sa 0.12
05/12/2030
BBG01TVSWJ66
 8.000 Bond 53758.33
50,000
 Colombia USD --
Eregli Demir Ve Celik Fabrikalari Tas 0.12
07/23/2029
BBG01NQ3FV17
 8.375 Bond 53714.35
50,000
 Turkey USD --
Rakuten Group Inc 0.12
12/31/2049
BBG01R329JC7
 8.125 Bond 53636.31
50,000
 Japan USD --
Ld Celulose International Gmbh 0.12
01/26/2032
BBG01Q0W1NP1
 7.950 Bond 53590.73
50,000
 Austria USD --
Vallourec Saca 0.12
04/15/2032
BBG01MG0MQ00
 7.500 Bond 53529.00
50,000
 France USD --
Nissan Motor Co Ltd 0.12
07/17/2030
BBG01W15W3K1
 7.500 Bond 53508.17
50,000
 Japan USD --
Banco Bradesco Sa/Cayman Islands 0.12
01/22/2030
BBG01RR8DS42
 6.500 Bond 53495.14
50,000
 Brazil USD --
First Quantum Minerals Ltd 0.12
03/01/2033
BBG01SCY2QG2
 8.000 Bond 53468.63
50,000
 Canada USD --
Vedanta Resources Finance Ii Plc 0.12
09/17/2029
BBG01PK89165
 10.875 Bond 53248.89
50,000
 United Kingdom USD --
Teva Pharmaceutical Finance Netherlands 0.12
12/01/2030
BBG01V434WV0
 5.750 Bond 53129.03
50,000
 Netherlands USD --
Oryx Funding Ltd 0.12
02/03/2031
BBG00Z1WYYL5
 5.800 Bond 53040.42
50,000
 Cayman Islands USD --
Baytex Energy Corp 0.12
04/30/2030
BBG01G6Y9WV8
 8.500 Bond 52971.43
50,000
 Canada USD --
Shelf Drilling Holdings Ltd 0.12
04/15/2029
BBG01JJKFMX1
 9.625 Bond 52934.89
50,000
 United Arab Emirates USD --
Telus Corp 0.11
10/15/2055
BBG01VRMXWT4
 7.000 Bond 52862.21
50,000
 Canada USD --
Itau Unibanco Holding Sa/Cayman Island 0.11
02/27/2030
BBG01SGH85Q4
 6.000 Bond 52751.25
50,000
 Brazil USD --
Medco Maple Tree Pte Ltd 0.11
04/27/2029
BBG01JS8QGG8
 8.960 Bond 52729.76
50,000
 Singapore USD --
1011778 Bc Ulc / New Red Finance Inc 0.11
06/15/2029
BBG01N73ZBQ3
 6.125 Bond 52592.49
50,000
 Canada USD --
Teva Pharmaceutical Finance Netherlands 0.11
03/01/2028
BBG00KP7PJ85
 6.750 Bond 52583.56
50,000
 Israel USD --
South Bow Canadian Infrastructure Holdi 0.11
03/01/2055
BBG01VZZ64G2
 7.625 Bond 52578.23
50,000
 Canada USD --
Braskem Netherlands Finance Bv 0.11
01/12/2031
BBG01J7C9V78
 8.500 Bond 52552.09
125,000
 Netherlands USD --
Banijay Entertainment Sas 0.11
05/01/2029
BBG01J7C5F95
 8.125 Bond 52440.54
50,000
 France USD --
Howden Uk Refinance Plc / Howden Uk Ref 0.11
02/15/2031
BBG01L81FSK1
 7.250 Bond 52439.75
50,000
 United Kingdom USD --
Grupo Aeromexico Sab De Cv 0.11
11/15/2031
BBG01QJTB2T9
 8.625 Bond 52325.24
50,000
 Mexico USD --
Fortescue Treasury Pty Ltd 0.11
04/15/2032
BBG016LSGX55
 6.125 Bond 52295.66
50,000
 Australia USD --
Rogers Communications Inc 0.11
04/15/2055
BBG01S7NLHJ8
 7.000 Bond 52260.41
50,000
 Canada USD --
Arcor Saic 0.11
07/31/2033
BBG01W9T6FD1
 7.600 Bond 52222.78
50,000
 Argentina USD --
Banco Btg Pactual Sa/Cayman Islands 0.11
04/08/2029
BBG01M8K3762
 6.250 Bond 52216.88
50,000
 Cayman Islands USD --
Telus Corp 0.11
07/21/2055
BBG01THX4465
 6.750 Bond 52214.94
65,000
 Canada CAD --
Termocandelaria Power Sa 0.11
09/17/2031
BBG01PNNG3L0
 7.750 Bond 52212.86
50,000
 Colombia USD --
Petroleos Mexicanos 0.11
01/23/2030
BBG00XK37FS7
 6.840 Bond 52201.45
50,000
 Mexico USD --
Pampa Energia Sa 0.11
12/16/2034
BBG01R6JH3V2
 7.875 Bond 52154.69
50,000
 Argentina USD --
Capstone Copper Corp 0.11
03/31/2033
BBG01SZYR852
 6.750 Bond 52074.83
50,000
 Canada USD --
Petrobras Global Finance Bv 0.11
01/27/2041
BBG001DJX3T7
 6.750 Bond 51941.95
50,000
 Brazil USD --
Alsea Sab De Cv 0.11
12/14/2026
BBG013XYL588
 7.750 Bond 51876.49
50,000
 Mexico USD --
Sisecam Uk Plc 0.11
05/02/2032
BBG01MLSF2Y7
 8.625 Bond 51814.88
50,000
 United Kingdom USD --
Banco Internacional Del Peru Saa Interb 0.11
04/30/2035
BBG01S0P2VJ0
 6.397 Bond 51715.77
50,000
 Peru USD --
Mazoon Assets Co Saoc 0.11
10/09/2031
BBG01Q32ZMJ6
 5.250 Bond 51422.45
50,000
 Oman USD --
Fibercop Spa 0.11
07/18/2036
BBG01NL820F8
 7.200 Bond 51420.00
50,000
 United States USD --
Shriram Finance Ltd 0.11
04/22/2027
BBG01L0KG232
 6.625 Bond 51330.08
50,000
 India USD --
Lcpr Senior Secured Financing Dac 0.11
10/15/2027
BBG00QJCQBG5
 6.750 Bond 51228.76
75,000
 United States USD --
Instituto Costarricense De Electricidad 0.11
05/15/2043
BBG004CZFY54
 6.375 Bond 51110.25
50,000
 Costa Rica USD --
Mattamy Group Corp 0.11
12/15/2027
BBG00QXQCJ21
 5.250 Bond 51077.93
50,000
 Canada USD --
Melco Resorts Finance Ltd 0.11
07/17/2027
BBG00PNVM791
 5.625 Bond 50996.94
50,000
 China USD --
Klabin Austria Gmbh 0.11
04/03/2029
BBG00NQJG7L3
 5.750 Bond 50954.37
50,000
 Brazil USD --
Melco Resorts Finance Ltd 0.11
07/21/2028
BBG00W26SNM8
 5.750 Bond 50927.33
50,000
 China USD --
Zf North America Capital Inc 0.11
04/14/2028
BBG01G4WNB08
 6.875 Bond 50909.26
50,000
 United States USD --
Vistajet Malta Finance Plc / Vista Mana 0.11
05/01/2027
BBG016XSPMY4
 7.875 Bond 50851.73
50,000
 Malta USD --
We Soda Investments Holding Plc 0.11
10/06/2028
BBG01JJ4K2R2
 9.500 Bond 50817.06
50,000
 United Kingdom USD --
Rumo Luxembourg Sarl 0.11
01/10/2028
BBG00VSZG693
 5.250 Bond 50768.68
50,000
 Brazil USD --
Renew Pvt Ltd 0.11
03/05/2027
BBG00RHG9140
 5.875 Bond 50765.61
50,000
 India USD --
Fibercop Spa 0.11
11/15/2033
BBG01NL7JJV3
 6.375 Bond 50608.75
50,000
 United States USD --
California Buyer Ltd / Atlantica Sustai 0.11
02/15/2032
BBG01QG10N00
 6.375 Bond 50571.14
50,000
 United States USD --
Brookfield Residential Properties Inc / 0.11
09/15/2027
BBG00Q72H2D3
 6.250 Bond 50491.45
50,000
 Canada USD --
Teva Pharmaceutical Finance Netherlands 0.11
05/09/2029
BBG0136TNRY0
 5.125 Bond 50302.45
50,000
 Netherlands USD --
Petrobras Global Finance Bv 0.11
01/13/2035
BBG01PKM1VL9
 6.000 Bond 50234.37
50,000
 Netherlands USD --
Rogers Communications Inc 0.11
03/15/2082
BBG015476304
 5.250 Bond 50222.15
50,000
 Canada USD --
Virgin Media Secured Finance Plc 0.11
05/15/2029
BBG00P3B2R77
 5.500 Bond 50051.82
50,000
 United Kingdom USD --
Banistmo Sa 0.11
07/31/2027
BBG00WC6FPR1
 4.250 Bond 50046.97
50,000
 Panama USD --
Algonquin Power & Utilities Corp 0.11
01/18/2082
BBG014J7ZRW1
 4.750 Bond 49961.31
50,000
 Canada USD --
Garda World Security Corp 0.11
06/01/2029
BBG01136V362
 6.000 Bond 49897.90
50,000
 Canada USD --
Amaggi Luxembourg International Sarl 0.11
01/28/2028
BBG00Z0HH595
 5.250 Bond 49889.76
50,000
 Brazil USD --
Ca Magnum Holdings 0.11
10/31/2026
BBG0134WN6G1
 5.375 Bond 49872.71
50,000
 Mauritius USD --
Investment Energy Resources Ltd 0.11
04/26/2029
BBG010423G00
 6.250 Bond 49800.58
50,000
 Bermuda USD --
Sasol Financing Usa Llc 0.11
09/27/2028
BBG00LYB0LD0
 6.500 Bond 49778.15
50,000
 South Africa USD --
Cosan Luxembourg Sa 0.11
09/20/2029
BBG00PT7JK20
 5.500 Bond 49670.89
50,000
 Brazil USD --
Centrais Eletricas Brasileiras Sa 0.11
02/04/2030
BBG00RLT4FJ5
 4.625 Bond 49237.19
50,000
 Brazil USD --
Rede D'Or Finance Sarl 0.11
01/22/2030
BBG00RD5CJS9
 4.500 Bond 49170.02
50,000
 Brazil USD --
Petroleos Mexicanos 0.11
06/15/2035
BBG000098L86
 6.625 Bond 49146.81
50,000
 Mexico USD --
Brf Sa 0.11
01/24/2030
BBG00QB0QPR6
 4.875 Bond 49057.31
50,000
 Brazil USD --
Uzbekneftegaz Jsc 0.11
11/16/2028
BBG013FT6XR4
 4.750 Bond 48668.95
50,000
 Uzbekistan USD --
Fortescue Treasury Pty Ltd 0.11
04/01/2031
BBG00ZQT8CF9
 4.375 Bond 48608.73
50,000
 Australia USD --
Vistajet Malta Finance Plc / Vista Mana 0.11
02/01/2030
BBG014MRX6D2
 6.375 Bond 48510.09
50,000
 Malta USD --
Goeasy Ltd 0.10
10/01/2030
BBG01T2D4T97
 7.375 Bond 48262.15
50,000
 Canada USD --
Zf North America Capital Inc 0.10
04/23/2030
BBG01MG435M5
 6.750 Bond 48257.57
50,000
 United States USD --
Minsur Sa 0.10
10/28/2031
BBG0135W9LG3
 4.500 Bond 48026.59
50,000
 Peru USD --
Bangkok Bank Pcl/Hong Kong 0.10
09/25/2034
BBG00Q9CZ0R8
 3.733 Bond 47962.10
50,000
 Thailand USD --
Grupo Aval Ltd 0.10
02/04/2030
BBG00RKLP6Y3
 4.375 Bond 47924.87
50,000
 Colombia USD --
Open Text Holdings Inc 0.10
02/15/2030
BBG00RMHJC65
 4.125 Bond 47903.40
50,000
 United States USD --
Global Auto Holdings Ltd/Aag Fh Uk Ltd 0.10
01/15/2032
BBG01KXQBMR0
 8.750 Bond 47775.25
50,000
 United Kingdom USD --
B3 Sa - Brasil Bolsa Balcao 0.10
09/20/2031
BBG012JJ5104
 4.125 Bond 47441.35
50,000
 Brazil USD --
Csn Inova Ventures 0.10
01/28/2028
BBG00RJSXJQ2
 6.750 Bond 47087.93
50,000
 Brazil USD --
Borr Ihc Ltd / Borr Finance Llc 0.10
11/15/2028
BBG01JWX7X45
 10.000 Bond 46966.03
44,512
 Bermuda USD --
Braskem Idesa Sapi 0.10
11/15/2029
BBG00QYZW9K0
 7.450 Bond 46749.81
75,000
 Brazil USD --
Ai Candelaria -Spain- Sa 0.10
06/15/2033
BBG010Z7ZJX8
 5.750 Bond 46281.67
50,000
 Spain USD --
Colombia Telecomunicaciones Sa Esp 0.10
07/17/2030
BBG00VYK0RJ9
 4.950 Bond 46131.25
50,000
 Spain USD --
Falabella Sa 0.10
01/15/2032
BBG012Y3XSM8
 3.375 Bond 45524.05
50,000
 Chile USD --
Petroleos Mexicanos 0.10
06/02/2041
BBG0021PGYX0
 6.500 Bond 45431.54
50,000
 Mexico USD --
Marb Bondco Plc 0.10
01/29/2031
BBG00YXT5SV4
 3.950 Bond 45061.24
50,000
 Brazil USD --
Nemak Sab De Cv 0.10
06/28/2031
BBG011KMQCZ2
 3.625 Bond 43998.01
50,000
 Mexico USD --
Aston Martin Capital Holdings Ltd 0.10
03/31/2029
BBG01LY7J2N9
 10.000 Bond 43799.12
50,000
 United Kingdom USD --
Zorlu Enerji Elektrik Uretim As 0.09
04/23/2030
BBG01QB1G2Z6
 11.000 Bond 43505.18
50,000
 Turkey USD --
Anglogold Ashanti Holdings Plc 0.09
04/15/2040
BBG00007JLB4
 6.500 Bond 43026.69
40,000
 Tanzania USD --
Sasol Financing Usa Llc 0.09
03/18/2031
BBG00ZMDN5R3
 5.500 Bond 43014.34
50,000
 United States USD --
Husky Injection Molding Systems Ltd / T 0.09
02/15/2029
BBG01L549X42
 9.000 Bond 42990.62
40,000
 Canada USD --
Rb Global Holdings Inc 0.09
03/15/2031
BBG01FP4C6V8
 7.750 Bond 42399.75
40,000
 United States USD --
Petroleos Mexicanos 0.09
01/28/2060
BBG00XKLYGH7
 6.950 Bond 42168.35
50,000
 Mexico USD --
Global Aircraft Leasing Co Ltd 0.09
09/01/2027
BBG01P6VXL50
 8.750 Bond 41956.39
40,000
 Cayman Islands USD --
Petroleos Mexicanos 0.09
01/23/2045
BBG0076DCXD9
 6.375 Bond 41731.01
50,000
 Mexico USD --
Leviathan Bond Ltd 0.09
06/30/2030
BBG00WBMK1K1
 6.750 Bond 41617.50
40,000
 Israel USD --
Nova Chemicals Corp 0.09
06/01/2027
BBG00GQT7JP6
 5.250 Bond 41118.15
40,000
 Canada USD --
Petroleos Mexicanos 0.09
02/12/2048
BBG00MKQBK86
 6.350 Bond 40706.25
50,000
 Mexico USD --
Mc Brazil Downstream Trading Sarl 0.09
06/30/2031
BBG011RV1HN4
 7.250 Bond 40113.81
45,610
 Luxembourg USD --
Csn Resources Sa 0.09
06/10/2031
BBG011991JM0
 4.625 Bond 40090.35
50,000
 Luxembourg USD --
Ecopetrol Sa 0.09
05/28/2045
BBG006JMY0P2
 5.875 Bond 39685.78
50,000
 Colombia USD --
Altice Financing Sa 0.08
08/15/2029
BBG0120R4JV4
 5.750 Bond 38134.75
50,000
 Luxembourg USD --
Teva Pharmaceutical Finance Netherlands 0.08
10/01/2046
BBG00DDM0L65
 4.100 Bond 37758.18
50,000
 Israel USD --
Rogers Communications Inc 0.08
04/15/2055
BBG01S7RCX68
 5.625 Bond 36833.58
50,000
 Canada CAD --
Sunoco Lp 0.08
06/22/2028
BBG01YFWFNF4
 6.000 Bond 36596.29
50,000
 United States CAD --
Pembina Pipeline Corp 0.08
01/25/2081
BBG00YVJKH27
 4.800 Bond 36120.81
50,000
 Canada CAD --
Sunoco Lp 0.08
03/26/2029
BBG01YDQ3HD7
 4.375 Bond 35677.49
50,000
 United States CAD --
Consolidated Energy Finance Sa 0.08
02/15/2031
BBG01L8DHMM4
 12.000 Bond 35562.50
50,000
 Luxembourg USD --
Energean Israel Finance Ltd 0.07
03/30/2031
BBG00ZH95YG7
 5.875 Bond 34243.40
35,000
 Luxembourg USD --
Kosmos Energy Ltd 0.07
10/01/2031
BBG01PP4PD29
 8.750 Bond 33203.68
50,000
 United States USD --
Mercer International Inc 0.07
02/01/2029
BBG011BQFNL6
 5.125 Bond 31277.88
50,000
 Canada USD --
Petroleos Mexicanos 0.07
02/12/2028
BBG00MKQBK22
 5.350 Bond 30479.27
30,000
 Mexico USD --
Dresdner Funding Trust I 0.06
06/30/2031
BBG0000259Q1
 8.151 Bond 28541.11
25,000
 Germany USD --
Adecoagro Sa 0.06
07/29/2032
BBG01W9T66W0
 7.500 Bond 28525.00
30,000
 Luxembourg USD --
New Flyer Holdings Inc 0.06
07/01/2030
BBG01V8S34J8
 9.250 Bond 27649.63
25,000
 United States USD --
Golomt Bank 0.06
05/20/2027
BBG01MRYH9W3
 11.000 Bond 27302.38
25,000
 Mongolia USD --
Nova Chemicals Corp 0.06
02/15/2030
BBG01LC4HF71
 9.000 Bond 27266.18
25,000
 Canada USD --
Nufarm Australia Ltd / Nufarm Americas 0.06
01/27/2030
BBG014QLLCL2
 5.000 Bond 27149.73
30,000
 Australia USD --
Bombardier Inc 0.06
06/01/2032
BBG01N09RMJ0
 7.000 Bond 27046.77
25,000
 Canada USD --
Transalta Corp 0.06
11/15/2029
BBG01BHXY103
 7.750 Bond 27036.43
25,000
 Canada USD --
Pan American Energy Llc/Argentina 0.06
04/30/2032
BBG01MMR0VB5
 8.500 Bond 26958.79
25,000
 Argentina USD --
Telecom Italia Capital Sa 0.06
11/15/2033
BBG00003HHT5
 6.375 Bond 26915.57
25,000
 Italy USD --
Champion Iron Canada Inc 0.06
07/15/2032
BBG01VS14PS7
 7.875 Bond 26899.39
25,000
 Canada USD --
Navoi Mining & Metallurgical Combinat 0.06
10/17/2031
BBG01Q5PB4Z1
 6.950 Bond 26861.43
25,000
 Uzbekistan USD --
Aeropuertos Dominicanos Siglo Xxi Sa 0.06
06/30/2034
BBG01NK9DQZ6
 7.000 Bond 26853.63
25,000
 Dominican Republic USD --
Teva Pharmaceutical Finance Netherlands 0.06
12/01/2032
BBG01V434WZ6
 6.000 Bond 26814.43
25,000
 Netherlands USD --
South Bow Canadian Infrastructure Holdi 0.06
03/01/2055
BBG01W00BB73
 7.500 Bond 26788.82
25,000
 Canada USD --
Transportadora De Gas Del Sur Sa 0.06
07/24/2031
BBG01NWTBP10
 8.500 Bond 26712.29
25,000
 Argentina USD --
Teva Pharmaceutical Finance Co Llc 0.06
02/01/2036
BBG0000BW204
 6.150 Bond 26701.15
25,000
 Israel USD --
New Gold Inc 0.06
04/01/2032
BBG01SNF87H6
 6.875 Bond 26691.05
25,000
 Canada USD --
Vista Energy Argentina Sau 0.06
06/10/2033
BBG01VCXTPN2
 8.500 Bond 26687.77
25,000
 Argentina USD --
Rogers Communications Inc 0.06
04/15/2055
BBG01S7PCM11
 7.125 Bond 26635.07
25,000
 Canada USD --
Bombardier Inc 0.06
02/01/2029
BBG01CCWPVM8
 7.500 Bond 26630.87
25,000
 Canada USD --
Jones Deslauriers Insurance Management 0.06
03/15/2030
BBG01FPHCQY2
 8.500 Bond 26606.77
25,000
 Canada USD --
Ypf Sa 0.06
06/30/2029
BBG00Z73L2C7
 2.500 Bond 26552.95
25,000
 Argentina USD --
Petrobras Global Finance Bv 0.06
07/03/2033
BBG01H6WSCT6
 6.500 Bond 26535.21
25,000
 Netherlands USD --
Taseko Mines Ltd 0.06
05/01/2030
BBG01MBN6YF0
 8.250 Bond 26497.96
25,000
 Canada USD --
Mineral Resources Ltd 0.06
10/01/2028
BBG01JJHWN03
 9.250 Bond 26497.51
25,000
 Australia USD --
Petrobras Global Finance Bv 0.06
01/17/2027
BBG00FQK9ZF0
 7.375 Bond 26466.02
25,000
 Brazil USD --
Cia De Minas Buenaventura Saa 0.06
02/04/2032
BBG01S2SVBL1
 6.800 Bond 26440.57
25,000
 Peru USD --
Petrobras Global Finance Bv 0.06
03/17/2044
BBG0064M2HN8
 7.250 Bond 26340.26
25,000
 Brazil USD --
Petrobras Global Finance Bv 0.06
01/20/2040
BBG0000H86Z1
 6.875 Bond 26297.62
25,000
 Brazil USD --
Heritage Petroleum Co Ltd 0.06
08/12/2029
BBG0178K40P8
 9.000 Bond 26225.00
25,000
 Trinidad And Tobago USD --
Great Canadian Gaming Corp/Raptor Llc 0.06
11/15/2029
BBG01QK72LJ4
 8.750 Bond 26070.58
25,000
 -- USD --
Ypf Sa 0.06
01/17/2034
BBG01RP2B2J0
 8.250 Bond 26008.29
25,000
 Argentina USD --
Petroleos Mexicanos 0.06
01/23/2029
BBG00MKQBK40
 6.500 Bond 25974.18
25,000
 Mexico USD --
Altagas Ltd 0.06
10/15/2054
BBG01PSR8PF3
 7.200 Bond 25973.65
25,000
 Canada USD --
Puma International Financing Sa 0.06
04/25/2029
BBG01MDBLW25
 7.750 Bond 25964.60
25,000
 Luxembourg USD --
Northriver Midstream Finance Lp 0.06
07/15/2032
BBG01NH91847
 6.750 Bond 25930.39
25,000
 Canada USD --
Petroleos Mexicanos 0.06
01/23/2027
BBG00XK333L5
 6.490 Bond 25905.88
25,000
 Mexico USD --
Karoon Usa Finance Inc 0.06
05/14/2029
BBG01MRJB2W7
 10.500 Bond 25898.52
25,000
 Australia USD --
Tecpetrol Sa 0.06
01/22/2033
BBG01RQZXH90
 7.625 Bond 25873.35
25,000
 Argentina USD --
Leviathan Bond Ltd 0.06
06/30/2027
BBG00WBMK194
 6.500 Bond 25775.46
25,000
 Israel USD --
Petrobras Global Finance Bv 0.06
01/03/2031
BBG00V3LZFM5
 5.600 Bond 25723.01
25,000
 Brazil USD --
Vista Energy Argentina Sau 0.06
12/10/2035
BBG01R3XS182
 7.625 Bond 25719.49
25,000
 Argentina USD --
Ypf Sa 0.06
07/21/2027
BBG00H5RJ6W8
 6.950 Bond 25675.18
25,000
 Argentina USD --
Bombardier Inc 0.06
02/15/2028
BBG0122ZBW29
 6.000 Bond 25510.38
25,000
 Canada USD --
Cascades Inc/Cascades Usa Inc 0.06
01/15/2028
BBG00QTYP589
 5.375 Bond 25481.44
25,000
 Canada USD --
Meg Energy Corp 0.06
02/01/2029
BBG00YZ3JPR5
 5.875 Bond 25475.28
25,000
 Canada USD --
Hudbay Minerals Inc 0.06
04/01/2029
BBG00X7K5LF7
 6.125 Bond 25439.18
25,000
 Peru USD --
Eldorado Gold Corp 0.06
09/01/2029
BBG012311Y48
 6.250 Bond 25369.43
25,000
 Canada USD --
Petrobras Global Finance Bv 0.06
03/19/2049
BBG00NKXZ8F2
 6.900 Bond 25339.58
25,000
 Brazil USD --
Saturn Oil & Gas Inc 0.06
06/15/2029
BBG01N641V12
 9.625 Bond 25318.23
24,000
 Canada USD --
Ypf Energia Electrica Sa 0.06
10/16/2032
BBG01Q782C61
 7.875 Bond 25303.82
25,000
 Argentina USD --
Iamgold Corp 0.05
10/15/2028
BBG00X70CQJ8
 5.750 Bond 25242.42
25,000
 Burkina Faso USD --
Gfl Environmental Inc 0.05
06/15/2029
BBG0118Z53R9
 4.750 Bond 25237.15
25,000
 Canada USD --
Teine Energy Ltd 0.05
04/15/2029
BBG00ZS0HF63
 6.875 Bond 25181.88
25,000
 Canada USD --
Indika Energy Tbk Pt 0.05
05/07/2029
BBG01MLQCVM3
 8.750 Bond 25177.37
25,000
 Indonesia USD --
Empire Communities Corp 0.05
05/01/2029
BBG01MG4S8Q8
 9.750 Bond 25164.29
25,000
 Canada USD --
Fortescue Treasury Pty Ltd 0.05
09/15/2027
BBG00Q6B3SX0
 4.500 Bond 25153.15
25,000
 Australia USD --
Teva Pharmaceutical Finance Netherlands 0.05
05/09/2027
BBG0136VL8H8
 4.750 Bond 25046.02
25,000
 Netherlands USD --
Energean Israel Finance Ltd 0.05
03/30/2028
BBG00ZH95TN0
 5.375 Bond 24819.19
25,000
 Luxembourg USD --
Nova Chemicals Corp 0.05
05/15/2029
BBG010H455F8
 4.250 Bond 24800.03
25,000
 Canada USD --
Gfl Environmental Inc 0.05
08/15/2029
BBG01210LSM3
 4.375 Bond 24778.98
25,000
 Canada USD --
Ats Corp 0.05
12/15/2028
BBG00YJ6YV32
 4.125 Bond 24589.64
25,000
 Canada USD --
Brookfield Residential Properties Inc / 0.05
06/15/2029
BBG01103BGG4
 5.000 Bond 24498.39
25,000
 Canada USD --
Goeasy Ltd 0.05
05/15/2030
BBG01QG0XJM1
 6.875 Bond 24463.52
25,000
 Canada USD --
Superior Plus Lp / Superior General Par 0.05
03/15/2029
BBG00ZHC2JW8
 4.500 Bond 24409.10
25,000
 Canada USD --
Mattamy Group Corp 0.05
03/01/2030
BBG00RTVJ9N5
 4.625 Bond 24308.36
25,000
 Canada USD --
Rakuten Group Inc 0.05
04/22/2170
BBG0101ZKQV5
 6.250 Bond 24178.74
25,000
 Japan USD --
Vermilion Energy Inc 0.05
02/15/2033
BBG01S19DB34
 7.250 Bond 24024.57
25,000
 Canada USD --
Georgian Railway Jsc 0.05
06/17/2028
BBG011DF2Q99
 4.000 Bond 23946.36
25,000
 Georgia USD --
Open Text Holdings Inc 0.05
12/01/2031
BBG013FZTNB4
 4.125 Bond 23575.83
25,000
 United States USD --
Playtika Holding Corp 0.05
03/15/2029
BBG00ZHSBT79
 4.250 Bond 22901.96
25,000
 United States USD --
Ypf Sa 0.05
12/15/2047
BBG00JFF1FQ5
 7.000 Bond 22790.32
25,000
 Argentina USD --
Enerflex Ltd 0.05
10/15/2027
BBG019XGSSJ5
 9.000 Bond 22744.00
22,000
 Canada USD --
Braskem Netherlands Finance Bv 0.05
01/10/2028
BBG00HWFLW45
 4.500 Bond 22063.25
50,000
 Brazil USD --
Petrobras Global Finance Bv 0.05
06/10/2051
BBG01198GJR1
 5.500 Bond 21441.32
25,000
 Netherlands USD --
Capital Power Corp 0.05
06/05/2054
BBG01MVRVFF2
 8.125 Bond 20812.90
25,000
 Canada CAD --
Braskem Netherlands Finance Bv 0.04
02/13/2033
BBG01F5V0F16
 7.250 Bond 20458.14
50,000
 Brazil USD --
Braskem Netherlands Finance Bv 0.04
01/31/2030
BBG00QQ65F56
 4.500 Bond 20002.12
50,000
 Brazil USD --
Altagas Ltd 0.04
11/10/2083
BBG01K2CXZ47
 8.900 Bond 19959.74
25,000
 Canada CAD --
Keyera Corp 0.04
06/13/2079
BBG01YCKYVF4
 6.875 Bond 19611.70
25,000
 Canada CAD --
Telesat Canada / Telesat Llc 0.04
12/06/2026
BBG010171MH3
 5.625 Bond 19390.63
25,000
 Canada USD --
Braskem Netherlands Finance Bv 0.04
01/31/2050
BBG00QQ65JL0
 5.875 Bond 19348.61
50,000
 Brazil USD --
Kronos Acquisition Holdings Inc 0.04
06/30/2031
BBG01NH93523
 8.250 Bond 19221.17
25,000
 United States USD --
Brookfield Property Finance Ulc 0.04
02/13/2028
BBG01F6NJ0V3
 7.125 Bond 19167.43
25,000
 Canada CAD --
Altagas Ltd 0.04
08/17/2082
BBG01922BRF4
 7.350 Bond 19065.42
25,000
 Canada CAD --
Cineplex Inc 0.04
03/31/2029
BBG01LK9GSV7
 7.625 Bond 19043.35
25,000
 Canada CAD --
Inter Pipeline Ltd/Ab 0.04
03/26/2079
BBG00NPHH8B6
 6.875 Bond 18859.23
25,000
 Canada CAD --
Transalta Corp 0.04
03/24/2032
BBG01T08GTB4
 5.625 Bond 18834.46
25,000
 Canada CAD --
Cogeco Communications Inc 0.04
02/27/2029
BBG01LNVK7B8
 6.125 Bond 18740.32
25,000
 Canada CAD --
Sleep Country Canada Holdings Inc 0.04
11/28/2032
BBG01QYFBZQ2
 6.625 Bond 18717.85
25,000
 Canada CAD --
Mv24 Capital Bv 0.04
06/01/2034
BBG00PWN9WQ0
 6.748 Bond 18686.63
18,308
 Brazil USD --
Transalta Corp 0.04
03/24/2032
BBG01T022WT6
 5.625 Bond 18678.33
25,000
 Canada CAD --
Keyera Corp 0.04
03/10/2081
BBG01YCLFWB5
 5.950 Bond 18631.53
25,000
 Canada CAD --
Ats Corp 0.04
08/21/2032
BBG01P85Z1H4
 6.500 Bond 18465.98
25,000
 Canada CAD --
Peru Lng Srl 0.04
03/22/2030
BBG00KB82RQ5
 5.375 Bond 18329.14
18,753
 Peru USD --
Laurentian Bank Of Canada 0.04
06/15/2032
BBG0169YGX10
 5.095 Bond 18317.83
25,000
 Canada CAD --
Parkland Corp 0.04
06/23/2028
BBG00VJ111M0
 6.000 Bond 18292.62
25,000
 Canada CAD --
Superior Plus Lp 0.04
05/18/2028
BBG010H509T7
 4.250 Bond 18158.11
25,000
 Canada CAD --
Brookfield Property Finance Ulc 0.04
01/15/2027
BBG00RD2D7T0
 3.930 Bond 18070.35
25,000
 Canada CAD --
Goeasy Ltd 0.03
12/01/2028
BBG01K4JHPS4
 9.250 Bond 15943.42
15,000
 Canada USD --
Goeasy Ltd 0.03
07/01/2029
BBG01LM17SJ6
 7.625 Bond 15078.01
15,000
 Canada USD --
Dye & Durham Ltd 0.03
04/15/2029
BBG01M7TZ180
 8.625 Bond 13793.96
15,000
 Canada USD --
Altice France Lux 3 / Altice Holdings 1 0.03
--
BBG01XMSM4F1
 -- Stock 13152.64
452
 Luxembourg EUR --
Ambipar Lux Sarl 0.03
02/06/2031
BBG01L8DR862
 9.875 Bond 12487.81
50,000
 Luxembourg USD --
Altagas Ltd 0.02
01/11/2082
BBG014DCZNQ2
 5.250 Bond 10962.33
15,000
 Canada CAD --
Ardagh Packaging Finance Plc / Ardagh H 0.02
08/15/2027
BBG00V32DY68
 5.250 Bond 9487.50
30,000
 Luxembourg USD --
Corus Entertainment Inc 0.01
05/11/2028
BBG0109ZR5H2
 5.000 Bond 6552.55
25,000
 Canada CAD --
Abengoa Abenewco 2 Sa 0.00
10/26/2026
BBG00P1GDRN8
 1.500 Bond 632.65
63,265
 Spain USD --
Abengoa Sa 0.00
03/31/2027
BBG0000CMY94
 -- Bond 583.14
100,000
 Spain EUR --
Bakrie Telecom Pte Ltd 0.00
01/01/2099
BBG00006Z907
 11.500 Bond 577.50
150,000
 Indonesia USD --
Abengoa Abenewco 2 Sa 0.00
10/26/2026
BBG00P1H0V60
 1.500 Bond 104.39
63,265
 Spain USD --
Digicel Group Holdings Ltd 0.00
12/31/2030
BBG01KFKHGF3
 -- Bond 0.00
31,361
 Bermuda USD --
0.61
--
--
-- Cash Bal 279549.49
240,173
 Europe EUR --
0.23
--
--
-- Cash Bal 105990.05
105,990
 United States USD --
0.01
--
--
-- Cash Bal 4312.11
6,041
 Canada CAD --
0.00
--
--
-- Cash Bal 2243.35
1,700
 United Kingdom GBP --
Other/Cash -0.10
--
--
-- Cash -47513.45
0
 -- USD --
← Scroll for more information →
Country of risk is defined using the International Organization for Standardization’s (ISO) country codes which take four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the CEO, CFO, COO or General Counsel is otherwise.

Portfolio

Currency Exposure (%) as of 10/31/2025

U.S. Dollar 53.55
Euro 39.82
British Pound 3.73
Canadian Dollar 1.72
Other/Cash 1.17

Credit Quality (%) as of 09/30/2025

Composite % of Net Assets
Non-Investment Grade D 0.06
Investment Grade BBB 3.15
Non-Investment Grade BB 58.86
B 29.83
CCC 2.38
CC 0.18
C 0.04
Total Non-Investment Grade -- 0.06
Total Investment Grade -- 3.15
Total Non-Investment Grade -- 91.29
Not Rated -- 4.20
If more than one rating is available for an underlying security, the lower of the two ratings is used. If a bond issued by a national government, national government agency or supranational issuer is not rated, the issuer’s credit rating will be used. If two issuer ratings are available, the lower of the two is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Maturity (%) as at 09/30/2025

  • Years

    Maturity (%)

  • < 1

    0.40

  • 1 - 3

    21.60

  • 3 - 5

    37.70

  • 5 - 7

    16.60

  • 7 - 10

    7.40

  • 10 - 15

    2.10

  • 15 - 20

    1.30

  • 20 - 30

    4.20

  • 30 +

    8.70

Distributions

Distribution History

Anticipated Frequency: Monthly Dividend Income & Annual Capital Gains
Ex-date Record
Date 		Payable date Dividend
Income‡ 		Short-Term
Capital Gains 		Long-Term
Capital Gains 		Return of
Capital 		Total
Distributions
11/03/2025 11/03/2025 11/06/2025 $ 0.1023 -- -- -- $ 0.10
10/01/2025 10/01/2025 10/06/2025 $ 0.0977 -- -- -- $ 0.10
09/02/2025 09/02/2025 09/05/2025 $ 0.0976 -- -- -- $ 0.10
08/01/2025 08/01/2025 08/06/2025 $ 0.1026 -- -- -- $ 0.10
07/01/2025 07/01/2025 07/07/2025 $ 0.0842 -- -- -- $ 0.08
06/02/2025 06/02/2025 06/05/2025 $ 0.1004 -- -- -- $ 0.10
05/01/2025 05/01/2025 05/06/2025 $ 0.0880 -- -- -- $ 0.09
04/01/2025 04/01/2025 04/04/2025 $ 0.1016 -- -- -- $ 0.10
03/03/2025 03/03/2025 03/06/2025 $ 0.0698 -- -- -- $ 0.07
02/03/2025 02/03/2025 02/06/2025 $ 0.0996 -- -- -- $ 0.10
12/27/2024 12/27/2024 12/30/2024 $ 0.1017 -- -- -- $ 0.10
12/02/2024 12/02/2024 12/05/2024 $ 0.1010 -- -- -- $ 0.10
11/01/2024 11/01/2024 11/06/2024 $ 0.0987 -- -- -- $ 0.10
10/01/2024 10/01/2024 10/04/2024 $ 0.0951 -- -- -- $ 0.10
09/03/2024 09/03/2024 09/06/2024 $ 0.0969 -- -- -- $ 0.10
08/01/2024 08/01/2024 08/06/2024 $ 0.0922 -- -- -- $ 0.09
07/01/2024 07/01/2024 07/05/2024 $ 0.0994 -- -- -- $ 0.10
06/03/2024 06/03/2024 06/06/2024 $ 0.1009 -- -- -- $ 0.10
04/23/2024 04/24/2024 04/29/2024 $ 0.0941 -- -- -- $ 0.09
04/01/2024 04/02/2024 04/05/2024 $ 0.0965 -- -- -- $ 0.10
03/01/2024 03/04/2024 03/07/2024 $ 0.0799 -- -- -- $ 0.08
02/01/2024 02/02/2024 02/07/2024 $ 0.0905 -- -- -- $ 0.09
12/27/2023 12/28/2023 12/29/2023 $ 0.0657 -- -- $ 0.0179 $ 0.08
12/01/2023 12/04/2023 12/07/2023 $ 0.0548 -- -- $ 0.0150 $ 0.07
11/01/2023 11/02/2023 11/07/2023 $ 0.0561 -- -- $ 0.0153 $ 0.07
10/02/2023 10/03/2023 10/06/2023 $ 0.0715 -- -- $ 0.0195 $ 0.09
09/01/2023 09/05/2023 09/08/2023 $ 0.0594 -- -- $ 0.0162 $ 0.08
08/01/2023 08/02/2023 08/10/2023 $ 0.0597 -- -- $ 0.0163 $ 0.08
07/03/2023 07/05/2023 07/07/2023 $ 0.0534 -- -- $ 0.0146 $ 0.07
06/01/2023 06/02/2023 06/07/2023 $ 0.0687 -- -- $ 0.0188 $ 0.09
04/24/2023 04/25/2023 04/28/2023 $ 0.0595 -- -- $ 0.0262 $ 0.09
04/03/2023 04/04/2023 04/10/2023 $ 0.0608 -- -- $ 0.0268 $ 0.09
03/01/2023 03/02/2023 03/07/2023 $ 0.0541 -- -- $ 0.0238 $ 0.08
02/01/2023 02/02/2023 02/07/2023 $ 0.0630 -- -- $ 0.0278 $ 0.09
12/28/2022 12/29/2022 12/30/2022 $ 0.0881 -- -- -- $ 0.09
12/01/2022 12/02/2022 12/07/2022 $ 0.0806 -- -- -- $ 0.08
11/01/2022 11/02/2022 11/07/2022 $ 0.0869 -- -- -- $ 0.09
10/03/2022 10/04/2022 10/07/2022 $ 0.0658 -- -- -- $ 0.07
09/01/2022 09/02/2022 09/08/2022 $ 0.0796 -- -- -- $ 0.08
08/01/2022 08/02/2022 08/05/2022 $ 0.0818 -- -- -- $ 0.08
07/01/2022 07/05/2022 07/08/2022 $ 0.0823 -- -- -- $ 0.08
06/01/2022 06/02/2022 06/07/2022 $ 0.0872 -- -- -- $ 0.09
04/25/2022 04/26/2022 04/29/2022 $ 0.0869 -- -- -- $ 0.09
04/01/2022 04/04/2022 04/07/2022 $ 0.0843 -- -- -- $ 0.08
03/01/2022 03/02/2022 03/07/2022 $ 0.0759 -- -- -- $ 0.08
02/01/2022 02/02/2022 02/07/2022 $ 0.0797 -- -- -- $ 0.08
12/29/2021 12/30/2021 12/31/2021 $ 0.0872 -- -- -- $ 0.09
12/01/2021 12/02/2021 12/07/2021 $ 0.0854 -- -- -- $ 0.09
11/01/2021 11/02/2021 11/05/2021 $ 0.0930 -- -- -- $ 0.09
10/01/2021 10/04/2021 10/07/2021 $ 0.0884 -- -- -- $ 0.09
09/01/2021 09/02/2021 09/08/2021 $ 0.0949 -- -- -- $ 0.09
08/02/2021 08/03/2021 08/06/2021 $ 0.0937 -- -- -- $ 0.09
07/01/2021 07/02/2021 07/08/2021 $ 0.0841 -- -- -- $ 0.08
06/01/2021 06/02/2021 06/07/2021 $ 0.0952 -- -- -- $ 0.10
04/26/2021 04/27/2021 04/30/2021 $ 0.0889 -- -- $ 0.0066 $ 0.10
04/01/2021 04/05/2021 04/08/2021 $ 0.0917 -- -- $ 0.0068 $ 0.10
03/01/2021 03/02/2021 03/05/2021 $ 0.0793 -- -- $ 0.0059 $ 0.09
02/01/2021 02/02/2021 02/05/2021 $ 0.0903 -- -- $ 0.0068 $ 0.10
12/29/2020 12/30/2020 01/05/2021 $ 0.0938 -- -- $ 0.0050 $ 0.10
12/01/2020 12/02/2020 12/07/2020 $ 0.0969 -- -- $ 0.0051 $ 0.10
11/02/2020 11/03/2020 11/06/2020 $ 0.0965 -- -- $ 0.0051 $ 0.10
10/01/2020 10/02/2020 10/07/2020 $ 0.0915 -- -- $ 0.0048 $ 0.10
09/01/2020 09/02/2020 09/08/2020 $ 0.0893 -- -- $ 0.0047 $ 0.09
08/03/2020 08/04/2020 08/07/2020 $ 0.0986 -- -- $ 0.0052 $ 0.10
07/01/2020 07/02/2020 07/08/2020 $ 0.0848 -- -- $ 0.0045 $ 0.09
06/01/2020 06/02/2020 06/05/2020 $ 0.1028 -- -- $ 0.0054 $ 0.11
04/24/2020 04/27/2020 04/30/2020 $ 0.0871 -- -- $ 0.0241 $ 0.11
04/01/2020 04/02/2020 04/07/2020 $ 0.0803 -- -- $ 0.0222 $ 0.10
03/02/2020 03/03/2020 03/06/2020 $ 0.0757 -- -- $ 0.0209 $ 0.10
02/03/2020 02/04/2020 02/07/2020 $ 0.0802 -- -- $ 0.0222 $ 0.10
12/30/2019 12/31/2019 01/06/2020 $ 0.1050 -- -- -- $ 0.11
12/02/2019 12/03/2019 12/06/2019 $ 0.0975 -- -- -- $ 0.10
11/01/2019 11/04/2019 11/07/2019 $ 0.1122 -- -- -- $ 0.11
10/01/2019 10/02/2019 10/07/2019 $ 0.1137 -- -- -- $ 0.11
09/03/2019 09/04/2019 09/09/2019 $ 0.1084 -- -- -- $ 0.11
08/01/2019 08/02/2019 08/07/2019 $ 0.1046 -- -- -- $ 0.10
07/01/2019 07/02/2019 07/08/2019 $ 0.0667 -- -- -- $ 0.07
06/03/2019 06/04/2019 06/07/2019 $ 0.1368 -- -- -- $ 0.14
04/24/2019 04/25/2019 04/30/2019 $ 0.0817 -- -- $ 0.0145 $ 0.10
04/01/2019 04/02/2019 04/05/2019 $ 0.0840 -- -- $ 0.0149 $ 0.10
03/01/2019 03/04/2019 03/07/2019 $ 0.0701 -- -- $ 0.0124 $ 0.08
02/01/2019 02/04/2019 02/07/2019 $ 0.0840 -- -- $ 0.0149 $ 0.10
12/27/2018 12/28/2018 01/03/2019 $ 0.0904 -- -- -- $ 0.09
12/03/2018 12/04/2018 12/07/2018 $ 0.0908 -- -- -- $ 0.09
11/01/2018 11/02/2018 11/07/2018 $ 0.1134 -- -- -- $ 0.11
10/01/2018 10/02/2018 10/05/2018 $ 0.0953 -- -- -- $ 0.10
09/04/2018 09/05/2018 09/10/2018 $ 0.0925 -- -- -- $ 0.09
08/01/2018 08/02/2018 08/07/2018 $ 0.0944 -- -- -- $ 0.09
07/02/2018 07/03/2018 07/09/2018 $ 0.0928 -- -- -- $ 0.09
06/01/2018 06/04/2018 06/07/2018 $ 0.0953 -- -- -- $ 0.10
04/24/2018 04/25/2018 04/30/2018 $ 0.0497 -- -- $ 0.0373 $ 0.09
04/02/2018 04/03/2018 04/06/2018 $ 0.0506 -- -- $ 0.0380 $ 0.09
03/01/2018 03/02/2018 03/07/2018 $ 0.0353 -- -- $ 0.0264 $ 0.06
02/01/2018 02/02/2018 02/07/2018 $ 0.0560 -- -- $ 0.0420 $ 0.10
12/27/2017 12/28/2017 01/03/2018 $ 0.0937 -- -- -- $ 0.09
12/01/2017 12/04/2017 12/07/2017 $ 0.0894 -- -- -- $ 0.09
11/01/2017 11/02/2017 11/07/2017 $ 0.0921 -- -- -- $ 0.09
10/02/2017 10/03/2017 10/06/2017 $ 0.0762 -- -- -- $ 0.08
09/01/2017 09/06/2017 09/08/2017 $ 0.0963 -- -- -- $ 0.10
08/01/2017 08/03/2017 08/07/2017 $ 0.0910 -- -- -- $ 0.09
07/03/2017 07/06/2017 07/10/2017 $ 0.0946 -- -- -- $ 0.09
06/01/2017 06/05/2017 06/07/2017 $ 0.1012 -- -- -- $ 0.10
05/01/2017 05/03/2017 05/05/2017 $ 0.0870 -- -- -- $ 0.09
04/03/2017 04/05/2017 04/07/2017 -- -- -- $ 0.1048 $ 0.10
03/01/2017 03/03/2017 03/07/2017 -- -- -- $ 0.0847 $ 0.08
02/01/2017 02/03/2017 02/07/2017 -- -- -- $ 0.1080 $ 0.11
12/28/2016 12/30/2016 01/04/2017 $ 0.0862 -- -- $ 0.0059 $ 0.09
12/01/2016 12/05/2016 12/07/2016 $ 0.0880 -- -- $ 0.0060 $ 0.09
11/01/2016 11/03/2016 11/07/2016 $ 0.0911 -- -- $ 0.0062 $ 0.10
10/03/2016 10/05/2016 10/07/2016 $ 0.0936 -- -- $ 0.0064 $ 0.10
09/01/2016 09/06/2016 09/08/2016 $ 0.0936 -- -- $ 0.0064 $ 0.10
08/01/2016 08/03/2016 08/05/2016 $ 0.0972 -- -- $ 0.0066 $ 0.10
07/01/2016 07/06/2016 07/08/2016 $ 0.0974 -- -- $ 0.0066 $ 0.10
06/01/2016 06/03/2016 06/07/2016 $ 0.0936 -- -- $ 0.0064 $ 0.10
05/02/2016 05/04/2016 05/06/2016 $ 0.0931 -- -- $ 0.0063 $ 0.10
04/01/2016 04/05/2016 04/07/2016 $ 0.0078 -- -- $ 0.1042 $ 0.11
03/01/2016 03/03/2016 03/07/2016 $ 0.0067 -- -- $ 0.0893 $ 0.10
02/01/2016 02/03/2016 02/05/2016 $ 0.0083 -- -- $ 0.1096 $ 0.12
12/29/2015 12/31/2015 01/05/2016 $ 0.1090 -- -- -- $ 0.11
12/01/2015 12/03/2015 12/07/2015 $ 0.1054 -- -- -- $ 0.11
11/02/2015 11/04/2015 11/06/2015 $ 0.1100 -- -- -- $ 0.11
10/01/2015 10/05/2015 10/07/2015 $ 0.0996 -- -- -- $ 0.10
09/01/2015 09/03/2015 09/08/2015 $ 0.1180 -- -- -- $ 0.12
08/03/2015 08/05/2015 08/07/2015 $ 0.1218 -- -- -- $ 0.12
07/01/2015 07/06/2015 07/08/2015 $ 0.1040 -- -- -- $ 0.10
06/01/2015 06/03/2015 06/05/2015 $ 0.1100 -- -- -- $ 0.11
05/01/2015 05/05/2015 05/07/2015 $ 0.0990 -- -- -- $ 0.10
04/01/2015 04/06/2015 04/08/2015 $ 0.0115 -- -- $ 0.1035 $ 0.12
03/02/2015 03/04/2015 03/06/2015 $ 0.0100 -- -- $ 0.0900 $ 0.10
02/02/2015 02/04/2015 02/06/2015 $ 0.0111 -- -- $ 0.1001 $ 0.11
12/29/2014 12/31/2014 01/05/2015 $ 0.1230 -- -- -- $ 0.12
12/01/2014 12/03/2014 12/05/2014 $ 0.1100 -- -- -- $ 0.11
11/03/2014 11/05/2014 11/07/2014 $ 0.1160 -- -- -- $ 0.12
10/01/2014 10/03/2014 10/07/2014 $ 0.1150 -- -- -- $ 0.12
09/02/2014 09/04/2014 09/08/2014 $ 0.1220 -- -- -- $ 0.12
08/01/2014 08/05/2014 08/07/2014 $ 0.1220 -- -- -- $ 0.12
07/01/2014 07/03/2014 07/08/2014 $ 0.1100 -- -- -- $ 0.11
06/02/2014 06/04/2014 06/06/2014 $ 0.1220 -- -- -- $ 0.12
05/01/2014 05/05/2014 05/07/2014 $ 0.1170 -- -- -- $ 0.12
04/01/2014 04/03/2014 04/07/2014 $ 0.1220 -- -- -- $ 0.12
03/03/2014 03/05/2014 03/07/2014 $ 0.1100 -- -- -- $ 0.11
02/03/2014 02/05/2014 02/07/2014 $ 0.1200 -- -- -- $ 0.12
12/27/2013 12/31/2013 01/03/2014 $ 0.1200 $ 0.0455 -- -- $ 0.17
12/02/2013 12/04/2013 12/06/2013 $ 0.1550 -- -- -- $ 0.16
11/01/2013 11/05/2013 11/07/2013 $ 0.3100 -- -- -- $ 0.31
10/01/2013 10/03/2013 10/07/2013 $ 0.1280 -- -- -- $ 0.13
09/03/2013 09/05/2013 09/09/2013 $ 0.1290 -- -- -- $ 0.13
08/01/2013 08/05/2013 08/07/2013 $ 0.1320 -- -- -- $ 0.13
07/01/2013 07/03/2013 07/08/2013 $ 0.1170 -- -- -- $ 0.12
06/03/2013 06/05/2013 06/07/2013 $ 0.1292 -- -- -- $ 0.13
05/01/2013 05/03/2013 05/07/2013 $ 0.1150 -- -- -- $ 0.12
04/01/2013 04/03/2013 04/05/2013 $ 0.1355 -- -- -- $ 0.14
03/01/2013 03/05/2013 03/07/2013 $ 0.1180 -- -- -- $ 0.12
02/01/2013 02/05/2013 02/07/2013 $ 0.1312 -- -- -- $ 0.13
12/27/2012 12/31/2012 01/03/2013 $ 0.1310 -- -- -- $ 0.13
12/03/2012 12/05/2012 12/07/2012 $ 0.1160 -- -- -- $ 0.12
11/01/2012 11/05/2012 11/07/2012 $ 0.0390 -- -- -- $ 0.04
10/01/2012 10/03/2012 10/05/2012 $ 0.1350 -- -- -- $ 0.14
09/04/2012 09/07/2012 09/10/2012 $ 0.1420 -- -- -- $ 0.14
08/01/2012 08/03/2012 08/07/2012 $ 0.1420 -- -- -- $ 0.14
07/02/2012 07/05/2012 07/09/2012 $ 0.1345 -- -- -- $ 0.13
06/01/2012 06/05/2012 06/07/2012 $ 0.1920 -- -- -- $ 0.19

‡All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck ETFs on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.

Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.

The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.

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