(MINC) NEWFLEET MULTI-SECTOR INCOME ETF

MINC

Overview

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.

Symbol Exchange Inception Date CUSIP Indicative Value
MINC NYSE Arca 3/19/2013 00768Y727 MINC.IV
<strong>Why Invest in MINC?</strong>
  • 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.
<strong>Key Attributes</strong>
  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.
<strong>About the Portfolio Managers</strong>
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.

Benjamin L. Caron, CFA, Senior Managing Director
In his current role, Mr. Caron is co-portfolio manager of, and assists in the management of, several fixed income portfolios at Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Working with the CIO and senior portfolio manager, Mr. Caron contributes to multi-sector strategy and is responsible for strategy execution and portfolio monitoring across open-end funds, closed-end funds, ETFs, and offshore vehicles that the team manages. Prior to joining the Sub-Advisor in 2011, Mr. Caron was on the fixed income team at Goodwin Capital Advisers (the former Phoenix Investment Counsel).

Mr. Caron earned a B.A. from Syracuse University and an M.B.A. from Suffolk University. He is a CFA® (Chartered Financial Analyst®) charterholder. Mr. Caron began his career in the investment industry in 1997.

Fund

Price History

As of 9/23/2020

NAV $48.75 Closing Price $48.77
Change $-0.02 Close Change $1.6
Shares Outstanding 1200000 Volume 813
4PM Bid/Offer Midpoint $48.77 Premium Discount $0.02
Assets Under Management $58505058.13    

Premium/Discount Historical Data | NAV Historical Data

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.

FUND

Performance

As of 8/31/2020

NAV Market Price Return Bloomberg Capital Aggregate Bond Index BofA Merrill Lynch 1-5 Year US Corp & Govt Bond Index
1 Month 0.40 0.31 -0.81 0.01
3 Months 3.01 2.79 1.31 0.03
YTD 2.11 2.02 6.85 0.51
1 Year 2.82 2.76 6.47 0.01
3 Years 2.68 2.63 5.09 0.03
5 Years 2.66 2.58 4.33 1.12
Since Inception (3/19/2013, Annualized) 2.36 2.33 9.46 0.76

As of 6/30/2020

NAV Market Price Return Bloomberg Capital Aggregate Bond Index BofA Merrill Lynch 1-5 Year US Corp & Govt Bond Index
1 Month 1.45 1.51 0.63 0.01
3 Months 4.66 7.78 2.90 0.02
YTD 0.56 0.75 6.14 0.49
1 Year 2.10 2.28 8.74 1.47
3 Years 2.40 2.41 5.32 1.68
5 Years 2.37 2.40 4.30 1.12
Since Inception (3/19/2013, Annualized) 2.20 2.21 0.78 7.54

Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. 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.

Fund

Holdings

As of 9/23/2020

Date Account Symbol Stock Ticker Security Number Security Description Shares/Par (Full) Price (Base) Traded Market Value (Base) Portfolio Weight % Asset Group
09/23/2020 MINC 9128286Y1 US TREASURY N/B 1.75 6/15/2022 1,855,000.00 102.78 1,906,483.50 3.26% TN
912828ZR4 US TREASURY N/B 0.125 5/31/2022 1,110,000.00 99.98 1,109,739.84 1.90% TN
912828C57 US TREASURY N/B 2.25 3/31/2021 880,000.00 101.10 889,670.91 1.52% TN
12433UAG0 BX 2018-GW B FRN 5/15/2035 700,000.00 94.88 664,159.23 1.14% MR
HYG 464288513 ISHARES IBOXX HIGH YLD CORP 6,334.00 83.05 526,038.70 0.90% MF
61746BEC6 MORGAN STANLEY FRN 10/24/2023 445,000.00 101.86 453,280.78 0.78% B
83405DAC2 SOFI 2017-C A2B 2.63 7/25/2040 443,184.52 101.90 451,591.06 0.77% MR
36166PAA6 GCAT 2019-NQM1 A1 STEP-CPN 2/25/2059 431,971.07 101.86 439,997.61 0.75% MR
64829HAA5 NRZT 2016-3A A1 FRN 9/25/2056 399,613.18 108.20 432,397.53 0.74% MR
46625HKK5 JPMORGAN CHASE & CO FRN 11/1/2168 430,000.00 99.33 427,112.55 0.73% B
52603JAA8 LFT 2018-2A A 4.23 4/20/2027 390,000.00 102.74 400,694.81 0.69% MR
68376VAA2 OPTN 2018-B A 3.91 7/8/2024 390,000.00 101.78 396,926.95 0.68% MR
92537GAA1 VERUS 2019-2 A1 FRN 5/25/2059 383,960.03 102.41 393,220.65 0.67% MR
31418DC67 FN MA3692 3.5 7/1/2049 372,327.22 105.33 392,160.56 0.67% FM
96042GAJ1 WLAKE 2018-3A C 3.61 10/16/2023 380,000.00 101.48 385,622.48 0.66% MR
02529MAE9 ACAR 2018-4 C 3.97 1/13/2025 358,177.51 101.51 363,573.81 0.62% MR
345397XQ1 FORD MOTOR CREDIT CO LLC 3.2 1/15/2021 360,000.00 100.00 360,000.00 0.62% B
064058AD2 BANK OF NY MELLON CORP FRN 12/20/2168 360,000.00 99.99 359,959.87 0.62% B
46641YAN3 JPMMT 2014-2 AM FRN 6/25/2029 344,949.29 101.63 350,581.00 0.60% MR
87165BAN3 SYNCHRONY FINANCIAL 4.375 3/19/2024 315,000.00 108.72 342,475.69 0.59% B
38141GWC4 GOLDMAN SACHS GROUP INC 3 4/26/2022 330,000.00 101.48 334,875.76 0.57% B
86359BHJ3 SASC 2004-4XS A3A STEP-CPN 2/25/2034 326,077.37 102.44 334,044.61 0.57% MR
24380RAA8 DRMT 2019-1A A1 FRN 1/25/2059 329,659.76 101.17 333,532.73 0.57% MR
501890AA5 LHOME 2019-RTL1 A1 STEP-CPN 10/25/2023 315,000.00 101.78 320,608.13 0.55% MR
88161NAB5 TESLA 2018-B B 4.12 10/20/2021 310,000.00 102.31 317,147.76 0.54% MR
32059TAE9 FIAOT 2019-1A C 3.26 3/17/2025 305,000.00 103.78 316,523.27 0.54% MR
92536PAA2 VERUS 2020-1 A1 STEP-CPN 1/25/2060 303,366.64 102.23 310,140.82 0.53% MR
90352VAB2 USAUT 2019-1A B 3.99 12/15/2022 305,000.00 101.26 308,842.88 0.53% MR
12648HAK1 CSMC 2014-IVR2 A2 FRN 4/25/2044 291,679.25 105.57 307,917.62 0.53% MR
36416UAG0 GFMT 2017-1 A21 FRN 7/25/2056 297,678.81 103.10 306,894.11 0.53% MR
61746BDQ6 MORGAN STANLEY 3.875 4/29/2024 275,000.00 110.77 304,612.79 0.52% B
36418HAA0 GFMT 2020-H1 A1 FRN 1/25/2060 297,420.27 102.17 303,866.73 0.52% MR
05369AAC5 AVIATION CAPITAL GROUP 3.875 5/1/2023 306,000.00 99.13 303,338.93 0.52% B
12592BAJ3 CNH INDUSTRIAL CAP LLC 4.2 1/15/2024 280,000.00 107.55 301,132.44 0.52% B
64829LAA6 NRZT 2016-4A A1 FRN 11/25/2056 276,336.52 108.05 298,591.86 0.51% MR
03066HAG2 AMCAR 2018-1 D 3.82 3/18/2024 285,000.00 104.10 296,687.37 0.51% MR
258258AA0 DORIC NIMROD AIR 2012-1A 5.125 11/30/2022 331,043.31 89.34 295,762.86 0.51% FB
06051GGJ2 BANK OF AMERICA CORP FRN 4/24/2023 285,000.00 101.02 287,900.11 0.49% B
22535AAA3 CAALT 2019-1A A 3.33 2/15/2028 280,000.00 102.51 287,035.17 0.49% MR
65341KAX4 NFMOT 2017-2A A2 2.56 10/17/2022 283,000.00 100.10 283,282.04 0.49% MR
27035BAB3 EARN 2017-A A2 2.65 1/25/2041 277,361.60 101.40 281,245.11 0.48% MR
BL3246792 00001 CALPINE CORPORAT 01/15/24 Term Loan 278,881.61 98.71 275,293.80 0.47% TL
9128286B1 US TREASURY N/B 2.625 2/15/2029 235,000.00 116.93 274,775.59 0.47% TN
89171VAB3 TPMT 2015-5 A2 FRN 5/25/2055 250,000.00 104.33 260,828.05 0.45% MR
07331YAA8 BOMFT 2017-SPL4 A FRN 1/28/2055 255,241.39 102.19 260,826.27 0.45% MR
45580KAJ7 IND & COMM BK CHINA/NY 2.957 11/8/2022 250,000.00 104.02 260,047.27 0.45% FB
80282KAW6 SANTANDER HOLDINGS USA 3.5 6/7/2024 240,000.00 107.63 258,320.90 0.44% B
68268XAC5 ODART 2018-1A C 3.85 10/14/2025 250,000.00 102.69 256,737.05 0.44% MR
35634BAB1 FREED 2018-2 B 4.61 10/20/2025 250,000.00 100.35 250,884.63 0.43% MR
92840VAD4 VISTRA OPERATIONS CO LLC 3.55 7/15/2024 235,000.00 106.57 250,435.98 0.43% B
36258XAB6 GCAR 2020-1A B 2.43 11/15/2024 245,000.00 102.11 250,181.68 0.43% MR
BL2701110 00001 VALEANT 06/02/25 TERM LOAN 253,000.63 98.79 249,944.38 0.43% TL
042859AA6 ARRW 2019-1 A1 FRN 1/25/2049 240,810.74 103.36 248,907.42 0.43% MR
26209WAF0 DRIVE 2019-3 C 2.9 8/15/2025 240,000.00 103.31 247,932.14 0.42% MR
05584AAA8 HGVGI 2017-1A A 2.94 5/25/2029 244,316.02 100.77 246,197.69 0.42% MR
36255XAC7 GCAR 2018-3A C 4.18 7/15/2024 235,000.00 104.28 245,050.20 0.42% MR
46644XAC6 JPMMT 2015-5 A2 FRN 5/25/2045 236,077.38 103.46 244,240.53 0.42% MR
05606XAA2 BXGNT 2015-A A 2.88 5/2/2030 247,536.43 98.03 242,659.70 0.42% MR
62854AAN4 MYLAN NV 3.95 6/15/2026 215,000.00 112.64 242,184.40 0.41% B
BL2552414 00001 INEOS US FINANCE 04/01/24 Term Loan 242,617.42 97.90 237,530.95 0.41% TL
05401AAF8 AVOLON HOLDINGS FNDG LTD 3.95 7/1/2024 249,000.00 94.83 236,119.01 0.40% FB
02530AAE2 ACAR 2018-3 C 3.75 10/15/2024 232,176.77 100.91 234,286.72 0.40% MR
466247NT6 JPMMT 2005-A2 4A1 FRN 4/25/2035 238,485.02 98.13 234,014.88 0.40% MR
03237PAB9 AXIS 2020-1A B 2.5 3/20/2026 230,000.00 101.55 233,555.89 0.40% MR
17322GAA7 CMLTI 2014-A A FRN 1/25/2035 219,910.40 105.70 232,450.22 0.40% MR
96033WAA6 WESTR 2018-1A A 3.38 12/20/2031 229,692.69 100.89 231,730.71 0.40% MR
455780BQ8 REPUBLIC OF INDONESIA 5.875 1/15/2024 200,000.00 115.46 230,918.63 0.40% FB
23343JAE6 DTAOT 2019-4A C 2.73 7/15/2025 220,000.00 102.79 226,143.81 0.39% MR
36258AAB6 GCAR 2019-3A B 2.72 6/17/2024 220,000.00 102.48 225,462.69 0.39% MR
30167GAE0 EART 2019-4A C 2.44 9/16/2024 220,000.00 102.19 224,826.76 0.38% MR
205887CA8 CONAGRA BRANDS INC 4.3 5/1/2024 200,000.00 111.58 223,151.78 0.38% B
05492MAC9 BCCFC 2019-1A B 2.64 9/20/2024 220,000.00 100.87 221,907.38 0.38% MR
88642MAC4 TMCAT 2018-AA B 3.45 11/15/2024 221,019.29 100.36 221,825.08 0.38% MR
30161NAW1 EXELON CORP 3.497 6/1/2022 212,000.00 104.38 221,281.66 0.38% B
68267DAA4 OMFIT 2019-1A A 3.48 2/14/2031 215,000.00 102.62 220,638.59 0.38% MR
03237JAB3 AXIS 2018-2A A2 3.89 7/20/2022 215,311.35 102.32 220,308.08 0.38% MR
96042FAF1 WLAKE 2018-2A D 4 1/16/2024 215,000.00 102.33 220,017.63 0.38% MR
74727PBC4 STATE OF QATAR 3.4 4/16/2025 200,000.00 109.59 219,177.00 0.38% FB
30312JAB4 FREED 2019-2 B 3.19 11/18/2026 220,000.00 99.33 218,523.23 0.37% MR
714295AC6 PERRIGO FINANCE UNLIMITD 3.9 12/15/2024 200,000.00 109.19 218,380.72 0.37% B
22411XAD6 CPS 2018-D D 4.34 9/16/2024 210,000.00 103.90 218,183.62 0.37% MR
172967LH2 CITIGROUP INC FRN 4/25/2022 215,000.00 101.10 217,365.01 0.37% B
85208NAD2 SPRINT SPECTRUM / SPEC I 4.738 3/20/2025 200,000.00 108.56 217,125.00 0.37% B
23343GAE2 DTAOT 2019-1A C 3.61 11/15/2024 210,000.00 102.62 215,492.51 0.37% MR
836205AR5 REPUBLIC OF SOUTH AFRICA 5.875 9/16/2025 200,000.00 107.54 215,089.00 0.37% FB
33843FAE8 FCAT 2020-1 C 2.24 1/15/2026 210,000.00 102.41 215,050.96 0.37% MR
12510FAC8 CCG 2019-2 B 2.55 3/15/2027 210,000.00 102.15 214,522.35 0.37% MR
80282KAT3 SANTANDER HOLDINGS USA 3.7 3/28/2022 205,000.00 103.63 212,434.44 0.36% B
92343VEP5 VERIZON COMMUNICATIONS FRN 5/15/2025 207,000.00 102.53 212,232.41 0.36% B
12625GAC8 CNOOC FINANCE 2013 LTD 3 5/9/2023 200,000.00 105.21 210,412.17 0.36% FB
303394AA8 FSIT 2020-AA A 2.9 9/20/2024 210,000.00 100.14 210,289.72 0.36% MR
90945QAD3 UACST 2019-1 D 3.47 8/12/2024 205,000.00 102.12 209,352.23 0.36% MR
045054AF0 ASHTEAD CAPITAL INC 4.375 8/15/2027 200,000.00 104.50 209,000.00 0.36% FB
02530DAC0 ACAR 2019-2 C 3.17 6/12/2025 205,000.00 101.82 208,721.32 0.36% MR
88032WAE6 TENCENT HOLDINGS LTD 2.985 1/19/2023 200,000.00 104.25 208,509.10 0.36% FB
92537FAA3 VERUS 2019-INV1 A1 FRN 12/25/2059 202,141.74 103.03 208,260.89 0.36% MR
14040HBK0 CAPITAL ONE FINANCIAL CO 3.75 7/28/2026 190,000.00 109.37 207,805.41 0.36% B
962178AN9 TRI POINTE GROUP / HOMES 5.875 6/15/2024 190,000.00 108.65 206,425.50 0.35% B
03969AAN0 ARDAGH PKG FIN/HLDGS USA 4.125 8/15/2026 200,000.00 101.50 203,000.00 0.35% B
411707AB8 HNGRY 2018-1A A2I 4.25 6/20/2048 200,900.00 101.01 202,931.34 0.35% MR
43789EAA4 HOF 2019-1 A1 FRN 1/25/2059 198,548.80 101.96 202,444.63 0.35% MR
37187PAB7 GPLAT 2020-1 B 2.83 7/20/2030 200,000.00 100.51 201,025.08 0.34% MR
05526DBR5 BAT CAPITAL CORP 2.259 3/25/2028 200,000.00 100.47 200,941.72 0.34% FB
04010LAU7 ARES CAPITAL CORP 3.5 2/10/2023 195,000.00 102.98 200,818.94 0.34% B
85211XAA1 SHMLT 2019-SH1 A1 FRN 4/29/2049 196,255.10 101.29 198,792.68 0.34% MR
BL2702969 00001 ARAMARK SERVICES 03/28/24 Term Loan 202,309.87 97.80 197,852.98 0.34% TL
854502AM3 STANLEY BLACK & DECKER I 4 3/15/2060 190,000.00 103.83 197,284.49 0.34% B
89178AAA4 TPHT 2019-HE1 A1 FRN 4/25/2048 197,705.89 99.66 197,034.74 0.34% MR
038370AC6 AQFIT 2019-A C 4.01 7/16/2040 195,000.00 101.00 196,942.40 0.34% MR
36258YBL1 GSMS 2020-GC45 AS FRN 2/13/2053 175,000.00 112.41 196,711.41 0.34% MR
66977WAP4 NOVA CHEMICALS CORP 5 5/1/2025 200,000.00 98.01 196,021.00 0.34% FB
00969DAA8 AJAXM 2017-B A FRN 9/25/2056 192,710.24 100.79 194,235.43 0.33% MR
43789AAA2 HOF 2018-1 A1 FRN 6/25/2048 192,052.85 100.60 193,207.41 0.33% MR
233331AW7 DTE ENERGY CO 2.529 10/1/2024 179,000.00 106.64 190,877.34 0.33% B
900123AW0 REPUBLIC OF TURKEY 7.375 2/5/2025 185,000.00 102.72 190,035.70 0.33% FB
576434QC1 MALT 2004-4 6A1 5.5 4/25/2034 180,925.17 104.18 188,481.33 0.32% MR
38014RAC8 GCAR 2020-2A B 3.16 6/16/2025 180,000.00 104.59 188,266.50 0.32% MR
92535TAD9 VERUS 2018-2 B1 FRN 6/1/2058 180,000.00 104.31 187,765.67 0.32% MR
42824CBE8 HP ENTERPRISE CO 2.25 4/1/2023 180,000.00 103.51 186,311.92 0.32% B
89690EAF4 TRMF 2017-1A A1 2.709 8/15/2047 185,150.49 100.21 185,548.49 0.32% MR
64829DAG1 NRZT 2014-3A AFX3 FRN 11/25/2054 171,908.94 107.60 184,970.50 0.32% MR
30166EAG1 EART 2018-4A D 4.35 9/16/2024 175,000.00 105.02 183,792.07 0.31% MR
30260YAA5 FHF 2020-1A A 2.59 12/15/2023 182,462.01 100.45 183,290.35 0.31% MR
87342RAC8 BELL 2016-1A A23 4.97 5/25/2046 169,312.50 108.22 183,231.46 0.31% MR
83085DAC9 SKOP 2019-1A C 3.63 9/16/2024 180,000.00 101.63 182,932.99 0.31% MR
44106MAS1 SERVICE PROPERTIES TRUST 4.65 3/15/2024 195,000.00 93.31 181,949.63 0.31% B
35040UAA9 FFIN 2017-1A A 3.3 7/15/2033 177,423.24 101.74 180,518.71 0.31% MR
20268CAA6 CBSLT 2019-AGS A1 2.54 1/25/2047 173,786.61 103.73 180,262.52 0.31% MR
BL2385591 00001 Cablevision Systems 3/17 Cov-Li 07/17/25 Term Loan 184,038.13 97.60 179,628.58 0.31% TL
55400DAA9 MVWOT 2019-2A A 2.22 10/20/2038 174,969.53 102.36 179,100.61 0.31% MR
65489MAB0 NMEF 2019-A B 3.06 8/17/2026 175,000.00 102.13 178,722.81 0.31% MR
12597JAC6 CPS 2020-A C 2.54 12/15/2025 175,000.00 101.99 178,490.06 0.31% MR
71654QCD2 PETROLEOS MEXICANOS 4.625 9/21/2023 180,000.00 98.79 177,822.90 0.30% FB
48128BAG6 JPMORGAN CHASE & CO 4.6 PERPETL 8/1/2169 182,000.00 97.38 177,222.50 0.30% B
38141GVX9 GOLDMAN SACHS GROUP INC FRN 10/28/2027 170,000.00 104.21 177,162.32 0.30% B
55389PAA7 MVWOT 2019-1A A 2.89 11/20/2036 171,783.81 103.07 177,064.50 0.30% MR
12656CAE5 CPS 2020-B C 3.3 4/15/2026 170,000.00 103.54 176,025.75 0.30% MR
12563LAN7 CLIF 2020-1A A 2.08 9/18/2045 175,000.00 100.37 175,652.40 0.30% MR
BL2694554 00001 BL3355403 175,000.00 100.19 175,328.13 0.30% TL
38141EB81 GOLDMAN SACHS GROUP INC FRN 11/29/2023 170,000.00 103.13 175,317.77 0.30% B
46641YAJ2 JPMMT 2014-2 2A2 FRN 6/25/2029 171,099.44 102.44 175,277.53 0.30% MR
67592LAA4 OCTL 2020-1A A 1.71 2/20/2025 175,000.00 99.99 174,984.43 0.30% MR
14686XAF6 CRVNA 2019-3A D 3.04 4/15/2025 170,000.00 102.42 174,114.75 0.30% MR
74937LAA4 RCO 2019-1 A1 STEP-CPN 5/24/2024 172,188.61 100.92 173,774.29 0.30% MR
23343RAE8 DTAOT 2020-2A C 3.28 3/16/2026 165,000.00 104.97 173,192.84 0.30% MR
02209SBB8 ALTRIA GROUP INC 3.8 2/14/2024 158,000.00 109.42 172,879.36 0.30% B
55400EAA7 MVWOT 2020-1A A 1.74 10/20/2037 169,387.04 101.34 171,662.30 0.29% MR
67098AAC3 OBX 2019-INV1 A3 FRN 11/25/2048 163,854.15 104.66 171,490.29 0.29% MR
32057HAG2 FIAOT 2016-2A C 2.53 7/15/2022 170,280.70 100.35 170,874.37 0.29% MR
40439HAC3 HINTT 2020-A C 3.42 10/9/2039 170,000.00 100.41 170,698.70 0.29% MR
00086CAA8 ACC 2020-A A 6 3/20/2023 162,333.11 102.86 166,968.55 0.29% MR
096630AD0 BOARDWALK PIPELINES LP 4.95 12/15/2024 150,000.00 111.21 166,821.29 0.29% B
749389AA0 RCKT 2020-1 A1 FRN 2/25/2050 161,380.69 102.62 165,608.38 0.28% MR
17323MAA3 CMLTI 2015-A A1 FRN 6/25/2058 160,186.26 102.65 164,423.86 0.28% MR
928563AD7 VMWARE INC 4.5 5/15/2025 145,000.00 113.37 164,387.23 0.28% B
76119MAA7 RMLT 2019-1 A1 FRN 10/25/2058 156,417.31 101.55 158,846.94 0.27% MR
78432BAA7 SGR 2019-3 A1 FRN 9/25/2059 156,051.14 101.37 158,193.82 0.27% MR
94974BFY1 WELLS FARGO & COMPANY 4.1 6/3/2026 140,000.00 112.99 158,187.67 0.27% B
24703DAY7 DELL INT LLC / EMC CORP 4 7/15/2024 145,000.00 108.92 157,939.26 0.27% B
BL3292648 00001 TransDigm inc 08/22/24 Term Loan 164,938.17 95.68 157,806.24 0.27% TL
05970FAC5 BANCO SANTANDER CHILE 2.7 1/10/2025 150,000.00 105.12 157,680.00 0.27% FB
11135FBB6 BROADCOM INC 3.15 11/15/2025 145,000.00 108.39 157,163.94 0.27% B
68504UAB7 ONGLT 2019-A B 3.36 4/9/2038 156,188.74 100.39 156,795.38 0.27% MR
30166PAE1 EART 2018-3A C 3.71 6/15/2023 154,227.33 101.28 156,206.22 0.27% MR
595017AQ7 MICROCHIP TECHNOLOGY INC 2.67 9/1/2023 150,000.00 103.63 155,440.97 0.27% B
038370AA0 AQFIT 2019-A A 3.14 7/16/2040 152,264.81 101.99 155,297.99 0.27% MR
17326QAA1 CMLTI 2018-RP1 A1 FRN 9/25/2064 146,200.27 105.86 154,767.12 0.27% MR
89614SAB5 TAST 2018-2A B 4.76 2/15/2022 154,192.59 100.35 154,739.97 0.26% MR
06051GHB8 BANK OF AMERICA CORP FRN 2/5/2026 153,000.00 100.09 153,130.20 0.26% B
42806DBC2 HERTZ 2016-4A A 2.65 7/25/2022 150,611.59 100.33 151,102.24 0.26% MR
BL2645325 00001 ILFC (Delos Finance) 3/18 Cov-L 10/06/23 Term Loan 153,300.00 98.54 151,057.99 0.26% TL
038779AB0 ARBYS 2020-1A A2 3.237 7/30/2050 145,000.00 104.04 150,852.19 0.26% MR
629377CK6 NRG ENERGY INC 3.75 6/15/2024 140,000.00 107.67 150,731.70 0.26% B
74387LAC5 PFMT 2019-1 A2 FRN 12/25/2049 144,978.12 103.83 150,530.38 0.26% MR
378272AX6 GLENCORE FUNDING LLC 1.625 9/1/2025 150,000.00 100.05 150,070.76 0.26% FB
04685A2P5 ATHENE GLOBAL FUNDING 2.45 8/20/2027 145,000.00 102.63 148,814.30 0.25% B
33844TAE7 FCAT 2020-3 C 1.73 9/15/2026 145,000.00 102.13 148,090.56 0.25% MR
20049AAE8 COMM 2020-CBM B 3.099 2/10/2037 150,000.00 98.69 148,038.71 0.25% MR
32058NAJ2 FIAOT 2017-1A D 3.6 4/17/2023 145,000.00 101.72 147,499.97 0.25% MR
451102BT3 ICAHN ENTERPRISES/FIN 6.25 5/15/2026 140,000.00 104.95 146,935.60 0.25% B
65341KBA3 NFMOT 2018-1A A2 3.22 2/15/2023 145,000.00 100.75 146,084.46 0.25% MR
55336VBR0 MPLX LP 1.75 3/1/2026 146,000.00 99.90 145,852.76 0.25% B
252722AB9 DROT 2019-1A B 3.53 2/20/2032 144,565.97 100.28 144,974.14 0.25% MR
233293AQ2 DPL INC 4.35 4/15/2029 135,000.00 107.16 144,669.38 0.25% B
404119BR9 HCA INC 5.375 2/1/2025 130,000.00 109.84 142,797.85 0.24% B
31574PAA3 EFMT 2020-1 A1 FRN 5/25/2065 140,630.22 101.46 142,680.17 0.24% MR
BL3183086 00001 VIRGIN MEDIA 9/19 (USD) 01/31/28 TERM LOAN 145,000.00 97.49 141,354.70 0.24% TL
36228FPE0 GSR 2003-3F 1A6 6 4/25/2033 134,582.75 104.63 140,808.17 0.24% MR
37045VAV2 GENERAL MOTORS CO 6.125 10/1/2025 120,000.00 117.00 140,395.94 0.24% B
683715AC0 OPEN TEXT CORP 3.875 2/15/2028 140,000.00 100.06 140,089.25 0.24% FB
369604BQ5 GENERAL ELECTRIC CO 5 PERPETL 6/15/2169 175,000.00 79.54 139,188.47 0.24% B
826525AB3 SRFC 2020-2A B 2.32 7/20/2037 137,861.49 100.28 138,241.62 0.24% MR
43800KAA5 HOF 2019-3 A1 FRN 11/25/2059 135,724.12 101.75 138,093.86 0.24% MR
06616PAA5 BHG 2020-A A 2.47 9/17/2031 135,031.89 100.11 135,174.81 0.23% MR
52532XAC9 LEIDOS INC 3.625 5/15/2025 119,000.00 111.30 132,448.19 0.23% B
92259LAB4 VCC 2020-1 AFX FRN 2/25/2050 130,470.65 101.46 132,372.66 0.23% MR
07332CAA5 BOMFT 2017-RT4 A FRN 7/28/2057 127,032.12 103.87 131,946.88 0.23% MR
67113AAP5 OBX 2019-EXP3 1A8 FRN 10/25/2059 127,993.64 103.06 131,912.51 0.23% MR
949803AA8 WFMBS 2004-U A1 FRN 10/25/2034 132,051.11 99.54 131,445.95 0.23% MR
86359A5V1 SASC 2003-34A 6A FRN 11/25/2033 135,374.51 96.76 130,984.54 0.22% MR
576434J39 MALT 2005-2 2A1 6 1/25/2035 119,983.70 107.94 129,516.03 0.22% MR
33938XAC9 FLEX LTD 3.75 2/1/2026 116,000.00 109.56 127,089.94 0.22% B
36257NAA1 GCAR 2019-2A A 3.06 4/17/2023 125,532.47 101.01 126,800.43 0.22% MR
91678WAA7 UPST 2019-3 A 2.684 1/21/2030 124,543.39 100.88 125,638.85 0.22% MR
35634LAA1 FREED 2020-3FP A 2.4 9/20/2027 124,186.19 99.70 123,812.97 0.21% MR
78081BAC7 ROYALTY PHARMA PLC 1.75 9/2/2027 123,000.00 100.59 123,721.63 0.21% FB
95000U2R3 WELLS FARGO & COMPANY 1.654 6/2/2024 120,000.00 102.01 122,412.42 0.21% B
57110AAA2 MFT 2019-4A A 2.39 12/17/2029 120,966.36 101.01 122,185.22 0.21% MR
410345AN2 HANESBRANDS INC 5.375 5/15/2025 115,000.00 105.10 120,859.25 0.21% B
12647JBJ0 CSMC 2013-HYB1 A16 FRN 4/25/2043 117,322.80 102.73 120,525.52 0.21% MR
24381HAA9 DRMT 2018-2A A1 FRN 4/25/2058 117,684.98 102.24 120,319.76 0.21% MR
BL3246875 REFINITIV US HOLDINGS IN 10/01/25 TERM LOAN 120,000.00 99.46 119,353.20 0.20% TL
03464QAA3 AOMT 2019-3 A1 FRN 5/25/2059 117,326.45 101.50 119,091.35 0.20% MR
808513BD6 CHARLES SCHWAB CORP 5.375 PERPETL 9/1/2169 109,000.00 108.63 118,401.25 0.20% B
05946XPV9 BAFC 2005-1 1A1 5.5 2/25/2035 112,540.65 103.82 116,845.31 0.20% MR
12530MAA3 SORT 2020-1 A1 1.69 7/15/2060 115,000.00 101.30 116,490.69 0.20% MR
17324VAH7 CMLTI 2015-PS1 A1 FRN 9/25/2042 112,744.30 103.27 116,432.01 0.20% MR
12597KAA7 COLT 2020-1 A1 FRN 2/25/2050 114,254.34 101.30 115,735.34 0.20% MR
BL2660241 JAGUAR HOLDING CO 08/18/22 Term Loan 115,000.00 99.87 114,847.05 0.20% TL
013092AF8 ALBERTSONS COS/SAFEWAY 3.25 3/15/2026 115,000.00 99.31 114,209.38 0.20% B
78471WAB1 SCLP 2018-2 A2 3.35 4/26/2027 112,994.32 100.46 113,511.61 0.19% MR
24380TAA4 DRMT 2017-1A A1 FRN 12/26/2046 111,429.61 100.35 111,814.71 0.19% MR
50077LBA3 KRAFT HEINZ FOODS CO 3.875 5/15/2027 105,000.00 106.23 111,544.49 0.19% B
042858AA8 ARRW 2019-2 A1 FRN 4/25/2049 107,828.22 103.30 111,388.40 0.19% MR
949458AA1 WLKRG 2015-AA A 2.79 6/16/2031 110,605.15 100.27 110,904.12 0.19% MR
88104LAE3 TERRAFORM POWER OPERATIN 5 1/31/2028 100,000.00 110.69 110,687.50 0.19% B
57109HAA0 MFT 2019-2A A 3.13 7/16/2029 108,068.82 101.12 109,281.05 0.19% MR
64828YAR2 NRZT 2014-2A A3 FRN 5/25/2054 99,401.42 108.64 107,989.76 0.18% MR
152314LE8 CXHE 2004-D AF5 STEP-CPN 9/25/2034 105,036.62 101.90 107,028.39 0.18% MR
785592AH9 SABINE PASS LIQUEFACTION 6.25 3/15/2022 100,000.00 106.33 106,334.14 0.18% B
88033GCY4 TENET HEALTHCARE CORP 4.875 1/1/2026 105,000.00 100.97 106,018.50 0.18% B
86933YAA4 SCML 2017-SBC6 A FRN 5/25/2037 103,711.39 100.43 104,152.47 0.18% MR
40434LAB1 HP INC 3 6/17/2027 95,000.00 108.89 103,449.19 0.18% B
05351WAC7 AVANGRID INC 3.2 4/15/2025 93,000.00 110.13 102,425.48 0.18% B
92537BAA2 VERUS 2018-3 A1 FRN 10/25/2058 99,561.95 102.78 102,325.57 0.18% MR
89613DAA1 TAH 2017-SFR1 A 2.716 9/17/2034 98,511.92 101.93 100,414.54 0.17% MR
BL3112358 00001 CLEAR CHANNEL OUTDOOR HO 5.7656 08/21/26 TERM LOAN 108,900.00 92.16 100,358.43 0.17% TL
BL2870022 00001 NEXSTAR BROADCAS 09/21/2026 100,865.63 98.73 99,589.18 0.17% TL
03236TAG1 AXIS 2018-1A A2 3.24 12/20/2023 98,166.89 100.81 98,961.58 0.17% MR
67576TAA7 OCTL 2019-1A A 3.16 9/20/2023 99,002.18 99.79 98,792.55 0.17% MR
03463WAA1 AOMT 2019-2 A1 FRN 3/25/2049 94,290.44 102.53 96,672.57 0.17% MR
02528CAC6 ACAR 2019-1 B 3.32 4/12/2023 96,185.17 100.51 96,671.51 0.17% MR
916780AA7 UPST 2019-2 A 2.897 9/20/2029 93,684.45 100.87 94,495.38 0.16% MR
68504TAA2 ONGLT 2015-AA A 2.88 9/8/2027 93,395.47 100.58 93,936.96 0.16% MR
94981VAB3 WFMBS 2004-K 1A2 FRN 7/25/2034 93,747.95 99.36 93,148.32 0.16% MR
55388PAB6 MVWOT 2015-1A B 2.96 12/20/2032 93,175.11 99.69 92,886.18 0.16% MR
505742AM8 LADDER CAP FIN LLLP/CORP 4.25 2/1/2027 105,000.00 87.38 91,746.90 0.16% B
744320AM4 PRUDENTIAL FINANCIAL INC 5.625 6/15/2043 84,000.00 107.17 90,020.01 0.15% B
BL3315480 SCIENCE APPLICATIONS 03/12/27 Term Loan 90,000.00 99.46 89,516.25 0.15% TL
36168QAK0 GFL ENVIRONMENTAL INC 3.75 8/1/2025 90,000.00 99.44 89,493.75 0.15% FB
87264ABH7 T-MOBILE USA INC 2.05 2/15/2028 85,000.00 102.73 87,317.10 0.15% B
87612BBJ0 TARGA RESOURCES PARTNERS 5.875 4/15/2026 85,000.00 102.19 86,859.38 0.15% B
05565QDV7 BP CAPITAL MARKETS PLC 4.875 PERPETL 12/22/2168 80,000.00 107.75 86,200.00 0.15% FB
527298BR3 LEVEL 3 FINANCING INC 4.25 7/1/2028 85,000.00 101.33 86,130.50 0.15% B
85207UAF2 SPRINT CORP 7.875 9/15/2023 75,000.00 114.66 85,993.13 0.15% B
31573TAC2 EFMT 2019-2 A3 FRN 11/25/2059 82,369.45 101.99 84,006.92 0.14% MR
9292274D5 WAMU 2003-AR6 A1 FRN 6/25/2033 81,544.94 100.75 82,157.38 0.14% MR
14366LAA0 CNART 2019-1A A 2.72 11/15/2022 80,774.47 100.80 81,422.70 0.14% MR
17288XAB0 CITADEL LP 4.875 1/15/2027 75,000.00 107.17 80,376.30 0.14% B
67079BAC4 NUTRITION & BIOSCIENCES 1.832 10/15/2027 78,000.00 100.77 78,604.05 0.13% B
00085MAA7 ACC 2019-1 A 3.75 5/20/2022 77,556.06 100.74 78,127.40 0.13% MR
635419AE4 NATCM 2008-1 2A1 6 3/25/2038 75,557.44 102.70 77,600.94 0.13% MR
22534BAA2 CAALT 2018-1A A 3.01 2/16/2027 77,011.19 100.44 77,351.93 0.13% MR
21054PAB1 CLUB 2019-P2 A 2.47 10/15/2026 75,267.19 100.51 75,649.89 0.13% MR
918204BA5 VF CORP 2.4 4/23/2025 71,000.00 106.44 75,569.20 0.13% B
097023CU7 BOEING CO 5.04 5/1/2027 67,000.00 110.73 74,191.21 0.13% B
67079BAB6 NUTRITION & BIOSCIENCES 1.23 10/1/2025 73,000.00 100.18 73,129.17 0.13% B
466247K51 JPMMT 2006-A2 4A1 FRN 8/25/2034 68,996.59 102.31 70,589.87 0.12% MR
22541Q2D3 CSFB 2003-AR30 5A1 FRN 1/25/2034 69,258.66 101.58 70,353.54 0.12% MR
36418GAU8 GFMT 2018-2 A41 FRN 10/25/2058 66,871.60 102.64 68,639.07 0.12% MR
30165YAC7 EART 2017-3A B 2.81 9/15/2022 67,260.84 100.30 67,463.30 0.12% MR
23342WAE8 DTAOT 2018-1A C 3.47 12/15/2023 65,892.87 100.29 66,085.10 0.11% MR
45031UCG4 ISTAR INC 4.25 8/1/2025 70,000.00 93.60 65,522.80 0.11% B
38061LAA7 GLDKR 2014-A A 3.22 3/17/2031 63,183.87 100.09 63,241.95 0.11% MR
BL3288513 00001 CENTURYLINK INC 03/15/27 Term Loan 64,650.06 96.95 62,678.23 0.11% TL
527298BN2 LEVEL 3 FINANCING INC 4.625 9/15/2027 60,000.00 102.28 61,368.00 0.11% B
BL3108760 00001 KESTREL BIDCO INC 12/11/26 69,650.00 88.10 61,361.65 0.11% TL
89114QCA4 TORONTO-DOMINION BANK 2.65 6/12/2024 57,000.00 107.26 61,139.68 0.10% FB
BL3392828 MILEAGE PLUS 06/21/27 TERM LOAN 60,000.00 101.81 61,083.30 0.10% TL
30212PAS4 EXPEDIA GROUP INC 6.25 5/1/2025 55,000.00 110.83 60,953.78 0.10% B
097023BG9 BOEING CO 2.35 10/30/2021 60,000.00 101.34 60,805.45 0.10% B
361841AJ8 GLP CAPITAL LP / FIN II 5.25 6/1/2025 55,000.00 109.14 60,029.20 0.10% B
98421MAA4 XEROX HOLDINGS CORP 5 8/15/2025 60,000.00 97.97 58,782.60 0.10% B
BL3291848 00001 SS&C TECHNOLOGIES INC 04/16/25 Term Loan 59,845.96 98.17 58,752.57 0.10% TL
BL3294347 00001 INGERSOLL-RAND SERVICES 03/01/27 Term Loan 59,850.00 97.79 58,526.72 0.10% TL
40434LAA3 HP INC 2.2 6/17/2025 53,000.00 105.32 55,820.28 0.10% B
228701AF5 CROWNROCK LP/CROWNROCK F 5.625 10/15/2025 60,000.00 93.00 55,800.00 0.10% B
64829YAA8 NRZT 2019-NQM1 A1 FRN 1/25/2049 54,522.59 102.22 55,731.03 0.10% MR
63938CAB4 NAVIENT CORP 5.875 10/25/2024 55,000.00 98.75 54,312.50 0.09% B
42806DAH2 HERTZ 2015-3A A 2.67 9/25/2021 52,027.10 100.42 52,243.27 0.09% MR
576436CN7 MASD 2005-3 A2 STEP-CPN 11/25/2035 51,711.70 100.08 51,754.22 0.09% MR
92536MAC5 VERUS 2018-INV1 A3 FRN 3/25/2058 49,544.63 100.62 49,852.18 0.09% MR
BL3430594 UPC 01/31/29 TERM LOAN 50,000.00 98.64 49,321.50 0.08% TL
BL3430602 UPC 01/31/29 TERM LOAN 50,000.00 98.64 49,321.50 0.08% TL
097023CT0 BOEING CO 4.875 5/1/2025 45,000.00 109.14 49,111.24 0.08% B
03464NAA0 AOMT 2018-3 A1 FRN 9/25/2048 46,831.88 102.49 47,998.07 0.08% MR
BL3294107 00001 STATION CASINOS LLC 02/08/27 TERM LOAN 49,673.88 96.54 47,953.18 0.08% TL
82967NBE7 SIRIUS XM RADIO INC 4.625 7/15/2024 45,000.00 102.87 46,290.60 0.08% B
05606VAA6 BXGNT 2013-A A 3.01 12/4/2028 45,637.34 100.81 46,009.09 0.08% MR
BL3392828 00001 MILEAGE PLUS 06/21/27 TERM LOAN 45,000.00 101.81 45,812.48 0.08% TL
443201AA6 HOWMET AEROSPACE INC 6.875 5/1/2025 40,000.00 111.63 44,650.00 0.08% B
74362DAA6 PMIT 2019-3A A 3.19 7/15/2025 44,222.38 100.50 44,441.48 0.08% MR
534187AU3 LINCOLN NATIONAL CORP FRN 4/20/2067 60,000.00 70.67 42,404.70 0.07% B
24381FAC9 DRMT 2017-3A A3 FRN 10/25/2047 37,657.25 101.38 38,175.73 0.07% MR
92536BAA3 VERUS 2017-1A A1 FRN 1/25/2047 36,605.07 100.43 36,761.50 0.06% MR
BL3315480 00001 SCIENCE APPLICATIONS 03/12/27 Term Loan 36,052.25 99.46 35,858.47 0.06% TL
94981VAY3 WFMBS 2004-K 2A12 FRN 7/25/2034 34,859.38 99.70 34,755.13 0.06% MR
21052NAA0 CLUB 2018-P2 A 3.47 10/15/2025 31,133.04 100.25 31,209.77 0.05% MR
92257LAB6 VCC 2017-1 AFX FRN 5/25/2047 30,606.27 100.03 30,615.35 0.05% MR
83405AAA2 SCLP 2017-1 A 3.28 1/26/2026 30,556.91 100.12 30,594.45 0.05% MR
20826JAB4 CONN 2018-A B 4.65 1/15/2023 26,267.77 99.93 26,250.55 0.04% MR
896945AA0 TRIPADVISOR INC 7 7/15/2025 25,000.00 104.69 26,171.88 0.04% B
BL3428697 00001 ASPLUNDH TREE EXPERT 09/07/27 TERM LOAN 25,000.00 100.19 25,046.88 0.04% TL
BL3089549 00001 Genesee & Wyoming 12/26 Cov-Lit Term Loan 24,937.50 98.78 24,633.64 0.04% TL
BL2849315 00001 COMMSCOPE INC 04/06/26 TERM LOAN 24,812.50 98.79 24,511.65 0.04% TL
05367MAA5 AVID 2018-1 A 2.84 8/15/2023 23,407.93 100.19 23,452.85 0.04% MR
538034AR0 LIVE NATION ENTERTAINMEN 4.75 10/15/2027 25,000.00 93.34 23,335.88 0.04% B
78081BAB9 ROYALTY PHARMA PLC 1.2 9/2/2025 23,000.00 99.84 22,962.63 0.04% FB
26885BAH3 EQM MIDSTREAM PARTNERS L 6.5 7/1/2027 20,000.00 106.64 21,328.30 0.04% B
55303XAK1 MGM GROWTH/MGM FINANCE 4.625 6/15/2025 20,000.00 101.60 20,320.00 0.03% B
BL3290246 00001 REYNOLDS CONSUMER PRODUC 02/04/27 TERM LOAN 19,141.92 99.16 18,980.36 0.03% TL
22541SXJ2 CSFB 2004-AR8 6A1 FRN 9/25/2034 16,776.34 100.64 16,882.98 0.03% MR
95081QAN4 WESCO DISTRIBUTION INC 7.125 6/15/2025 15,000.00 108.01 16,202.03 0.03% B
26885BAF7 EQM MIDSTREAM PARTNERS L 6 7/1/2025 15,000.00 103.20 15,480.00 0.03% B
BL3362664 00001 ARISTOCRAT 10/19/24 TERM LOAN 14,962.50 100.17 14,988.24 0.03% TL
BL3128180 00001 ELANCO 08/01/27 TERM LOAN 15,000.00 98.55 14,782.05 0.03% TL
BL3111475 00001 NCR CORP 08/28/26 Term Loan 14,962.31 97.75 14,625.73 0.03% TL
88033GDE7 TENET HEALTHCARE CORP 7.5 4/1/2025 10,000.00 107.36 10,735.85 0.02% B
48283PAE1 KABB 2019-1 A 3.825 3/15/2024 5,816.20 99.63 5,794.55 0.01% MR
BL3396415 00001 GARDNER DENVER INC 03/01/27 Term Loan 5,000.00 99.23 4,961.45 0.01% TL
07324YAC3 BAYC 2006-2A A2 FRN 7/25/2036 2,368.76 93.85 2,223.03 0.00% MR
BL3112358 00002 CLEAR CHANNEL OUTDOOR HO 5.7656 08/21/26 TERM LOAN 275.00 92.16 253.43 0.00% TL
BL3362664 00002 ARISTOCRAT 10/19/24 TERM LOAN 37.50 100.16 37.56 0.00% TL
X9USDJPMR JP MORGAN USD GOVT MONEY MARKET INSTL 1,805,698.29 1.00 1,805,698.29 3.09% MM
CASH (535,817.18) 100.00 0.00 -0.92% CA

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

Characteristics

As of 8/31/2020

MINC Sector Allocation

FUND

Fixed Income Attributes

As of 8/31/2020

Description Amount 6/30/2020
Duration 1.99 years
Yield to Maturity 2.30
30-Day SEC Subsidized Yield 1.88%
30-Day SEC Unsubsidized Yield 1.77%

Past Performance is not indicative of future results. Duration is a measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices. 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.

FUND

Fees & Expenses

Management Fee 0.50%
Other Expenses 0.46%
Acquired Fund Fees 0.01%
Gross Expense Ratio 0.97%
Fee Waiver and/or Expense Reimbursement -0.21%
Net Expense Ratio 0.76%

Effective as of March 16, 2019, the management fee paid by the Fund to AdvisorShares Investments, LLC has been reduced from 0.65% to 0.50% of the Fund’s average daily net assets. The Advisor has contractually agreed to reduce its fees and/or reimburse expenses to keep net expenses (excluding amounts payable pursuant to any plan adopted in accordance with Rule 12b-1, interest expense, taxes, brokerage commissions, acquired fund fees and expenses, other expenditures which are capitalized in accordance with generally accepted accounting principles, and extraordinary expenses) from exceeding 0.75% of the Fund’s average daily net assets for at least one year from the date of the Prospectus

Last Ten

Fund Distributions

Ex-Date Record Date Pay Date Cash Div ST Cap Gain LT Cap Gain Return of Capital Total Distribution (per share) MINC
12/24/2020 12/28/2020 12/31/2020 - - - - - FORMULA
11/24/2020 11/25/2020 11/30/2020 - - - - - FORMULA
10/26/2020 10/27/2020 10/30/2020 - - - - - FORMULA
09/24/2020 09/25/2020 09/30/2020 - - - - - FORMULA
08/25/2020 08/26/2020 08/31/2020 $0.0835 $0.0000 $0.0000 $0.0000 $0.0835 VALUE
07/27/2020 07/28/2020 07/31/2020 $0.1035 $0.0000 $0.0000 $0.0000 $0.1035 VALUE
06/24/2020 06/25/2020 06/30/2020 $0.1008 $0.0000 $0.0000 $0.0000 $0.1008 VALUE
05/22/2020 05/26/2020 05/29/2020 $0.0893 $0.0000 $0.0000 $0.0000 $0.0893 VALUE
04/24/2020 04/27/2020 04/30/2020 $0.0170 $0.0000 $0.0000 $0.0000 $0.0170 VALUE
03/26/2020 03/27/2020 03/31/2020 $0.1200 $0.0000 $0.0000 $0.0000 $0.1200 VALUE
02/24/2020 02/25/2020 02/28/2020 $0.0993 $0.0000 $0.0000 $0.0000 $0.0993 VALUE
01/27/2020 01/28/2020 01/31/2020 $0.0885 $0.0000 $0.0000 $0.0000 $0.0885 VALUE
12/27/2019 12/30/2019 12/31/2019 $0.1280 $0.0000 $0.0000 $0.0000 $0.1280 VALUE
11/26/2019 11/27/2019 11/29/2019 $0.1030 $0.0000 $0.0000 $0.0000 $0.1030 VALUE
10/28/2019 10/29/2019 10/31/2019 $0.1217 $0.0000 $0.0000 $0.0000 $0.1217 VALUE
09/25/2019 09/26/2019 09/30/2019 $0.1069 $0.0000 $0.0000 $0.0000 $0.1069 VALUE
08/27/2019 08/28/2019 08/30/2019 $0.1194 $0.0000 $0.0000 $0.0000 $0.1194 VALUE
07/26/2019 07/29/2019 07/31/2019 $0.1234 $0.0000 $0.0000 $0.0000 $0.1234 VALUE
06/25/2019 06/26/2019 06/28/2019 $0.1064 $0.0000 $0.0000 $0.0000 $0.1064 VALUE
05/28/2019 05/29/2019 05/31/2019 $0.1373 $0.0000 $0.0000 $0.0000 $0.1373 VALUE
04/25/2019 04/26/2019 04/30/2019 $0.1146 $0.0000 $0.0000 $0.0000 $0.1146 VALUE
03/26/2019 03/27/2019 03/29/2019 $0.1193 $0.0000 $0.0000 $0.0000 $0.1193 VALUE
02/27/2019 02/26/2019 02/28/2019 $0.1127 $0.0000 $0.0000 $0.0000 $0.1127 VALUE
01/28/2019 01/29/2019 01/31/2019 $0.1113 $0.0000 $0.0000 $0.0000 $0.1113 VALUE
12/27/2018 12/28/2018 12/31/2018 $0.1405 $0.0000 $0.0000 $0.0000 $0.1405 VALUE
11/27/2018 11/28/2018 11/30/2018 $0.1212 $0.0000 $0.0000 $0.0000 $0.1212 VALUE
10/26/2018 10/29/2018 10/31/2018 $0.1152 $0.0000 $0.0000 $0.0000 $0.1152 VALUE
09/26/2018 09/27/2018 09/28/2018 $0.1088 $0.0000 $0.0000 $0.0000 $0.1088 VALUE
08/27/2018 08/28/2018 08/31/2018 $0.1212 $0.0000 $0.0000 $0.0000 $0.1212 VALUE
07/26/2018 07/27/2018 07/31/2018 $0.1154 $0.0000 $0.0000 $0.0000 $0.1154 VALUE
06/25/2018 06/26/2018 06/29/2018 $0.1144 $0.0000 $0.0000 $0.0000 $0.1144 VALUE
05/25/2018 05/29/2018 05/31/2018 $0.1098 $0.0000 $0.0000 $0.0000 $0.1098 VALUE
04/25/2018 04/26/2018 04/30/2018 $0.1047 $0.0000 $0.0000 $0.0000 $0.1047 VALUE
03/26/2018 03/27/2018 03/29/2018 $0.0950 $0.0000 $0.0000 $0.0000 $0.0950 VALUE
02/26/2018 02/27/2018 02/28/2018 $0.1085 $0.0000 $0.0000 $0.0000 $0.1085 VALUE
01/26/2018 01/29/2018 01/31/2018 $0.0920 $0.0000 $0.0000 $0.0000 $0.0920 VALUE
12/27/2017 12/28/2017 12/29/2017 $0.1188 $0.0000 $0.0000 $0.0000 $0.1188 VALUE
11/28/2017 11/29/2017 11/30/2017 $0.1066 $0.0000 $0.0000 $0.0000 $0.1066 VALUE
10/27/2017 10/30/2017 10/31/2017 $0.1030 $0.0000 $0.0000 $0.0000 $0.1030 VALUE
09/26/2017 09/27/2017 09/29/2017 $0.1034 $0.0000 $0.0000 $0.0000 $0.1034 VALUE
08/25/2017 08/29/2017 08/31/2017 $0.0929 $0.0000 $0.0000 $0.0000 $0.0929 VALUE
07/26/2017 07/28/2017 07/31/2017 $0.0995 $0.0000 $0.0000 $0.0000 $0.0995 VALUE
06/23/2017 06/28/2017 06/30/2017 $0.1025 $0.0000 $0.0000 $0.0000 $0.1025 VALUE
05/23/2017 05/26/2017 05/31/2017 $0.1006 $0.0000 $0.0000 $0.0000 $0.1006 VALUE
04/21/2017 04/26/2017 04/28/2017 $0.1012 $0.0000 $0.0000 $0.0000 $0.1012 VALUE
03/24/2017 03/28/2017 03/31/2017 $0.1037 $0.0000 $0.0000 $0.0000 $0.1037 VALUE
02/23/2017 02/27/2017 02/28/2017 $0.1002 $0.0000 $0.0000 $0.0000 $0.1002 VALUE
01/25/2017 01/27/2017 01/31/2017 $0.0891 $0.0000 $0.0000 $0.0000 $0.0891 VALUE
12/23/2016 12/28/2016 12/30/2016 $0.1307 $0.0000 $0.0000 $0.0000 $0.1307 VALUE
11/23/2016 11/28/2016 11/30/2016 $0.0996 $0.0000 $0.0000 $0.0000 $0.0996 VALUE
10/25/2016 10/27/2016 10/31/2016 $0.1024 $0.0000 $0.0000 $0.0000 $0.1024 VALUE
09/26/2016 09/28/2016 09/30/2016 $0.1110 $0.0000 $0.0000 $0.0000 $0.1110 VALUE
08/25/2016 08/29/2016 08/31/2016 $0.1111 $0.0000 $0.0000 $0.0000 $0.1111 VALUE
07/25/2016 07/27/2016 07/29/2016 $0.1143 $0.0000 $0.0000 $0.0000 $0.1143 VALUE
06/24/2016 06/28/2016 06/30/2016 $0.1158 $0.0000 $0.0000 $0.0000 $0.1158 VALUE
05/24/2016 05/26/2016 05/31/2016 $0.1118 $0.0000 $0.0000 $0.0000 $0.1118 VALUE
04/25/2016 04/27/2016 04/29/2016 $0.1239 $0.0000 $0.0000 $0.0000 $0.1239 VALUE
03/24/2016 03/29/2016 03/31/2016 $0.1217 $0.0000 $0.0000 $0.0000 $0.1217 VALUE
02/23/2016 02/25/2016 02/29/2016 $0.1029 $0.0000 $0.0000 $0.0000 $0.1029 VALUE
01/25/2016 01/27/2016 01/29/2016 $0.0883 $0.0000 $0.0000 $0.0000 $0.0883 VALUE
12/24/2015 12/29/2015 12/31/2015 $0.1467 $0.0000 $0.0000 $0.0000 $0.1467 VALUE
11/23/2015 11/25/2015 11/30/2015 $0.1073 $0.0000 $0.0000 $0.0000 $0.1073 VALUE
10/26/2015 10/28/2015 10/30/2015 $0.1192 $0.0000 $0.0000 $0.0000 $0.1192 VALUE
09/24/2015 09/28/2015 09/30/2015 $0.1159 $0.0000 $0.0000 $0.0000 $0.1159 VALUE
08/25/2015 08/27/2015 08/31/2015 $0.1196 $0.0000 $0.0000 $0.0000 $0.1196 VALUE
07/24/2015 07/28/2015 07/30/2015 $0.0942 $0.0000 $0.0000 $0.0000 $0.0942 VALUE
06/24/2015 06/26/2015 06/30/2015 $0.1230 $0.0000 $0.0000 $0.0000 $0.1230 VALUE
05/22/2015 05/27/2015 05/29/2015 $0.1011 $0.0000 $0.0000 $0.0000 $0.1011 VALUE
04/24/2015 04/28/2015 04/30/2015 $0.1124 $0.0000 $0.0000 $0.0000 $0.1124 VALUE
03/25/2015 03/27/2015 03/31/2015 $0.1215 $0.0000 $0.0000 $0.0000 $0.1215 VALUE
02/23/2015 02/25/2015 02/27/2015 $0.1051 $0.0000 $0.0000 $0.0000 $0.1051
01/26/2015 01/28/2015 01/30/2015 $0.0794 $0.0000 $0.0000 $0.0000 $0.0794
12/24/2014 12/29/2014 12/31/2014 $0.1640 $0.0000 $0.0000 $0.0000 $0.1640
11/21/2014 11/25/2014 11/28/2014 $0.0950 $0.0000 $0.0000 $0.0000 $0.0950
10/27/2014 10/29/2014 10/31/2014 $0.1280 $0.0000 $0.0000 $0.0000 $0.1280
09/24/2014 09/26/2014 09/30/2014 $0.1140 $0.0000 $0.0000 $0.0000 $0.1140
08/25/2014 08/27/2014 08/29/2014 $0.1150 $0.0000 $0.0000 $0.0000 $0.1150
07/25/2014 07/29/2014 07/31/2014 $0.1140 $0.0000 $0.0000 $0.0000 $0.1140
06/24/2014 06/26/2014 06/30/2014 $0.1230 $0.0000 $0.0000 $0.0000 $0.1230
05/23/2014 05/28/2014 05/30/2014 $0.0970 $0.0000 $0.0000 $0.0000 $0.0970
04/24/2014 04/28/2014 04/30/2014 $0.1130 $0.0000 $0.0000 $0.0000 $0.1130
03/25/2014 03/27/2014 03/31/2014 $0.1110 $0.0000 $0.0000 $0.0000 $0.1110
02/24/2014 02/26/2014 02/28/2014 $0.1260 $0.0000 $0.0000 $0.0000 $0.1260
01/27/2014 01/29/2014 01/31/2014 $0.0950 $0.0000 $0.0000 $0.0000 $0.0950
12/24/2013 12/27/2013 12/31/2013 $0.1320 $0.0000 $0.0000 $0.0000 $0.1320
11/22/2013 11/26/2013 11/29/2013 $0.1090 $0.0000 $0.0000 $0.0000 $0.1090
10/25/2013 10/29/2013 10/31/2013 $0.1210 $0.0000 $0.0000 $0.0000 $0.1210
09/24/2013 09/26/2013 09/30/2013 $0.1060 $0.0000 $0.0000 $0.0000 $0.1060
08/26/2013 08/28/2013 08/30/2013 $0.1140 $0.0000 $0.0000 $0.0000 $0.1140
07/25/2013 07/29/2013 07/31/2013 $0.1090 $0.0000 $0.0000 $0.0000 $0.1090
06/24/2013 06/26/2013 06/28/2013 $0.1080 $0.0000 $0.0000 $0.0000 $0.1080
05/24/2013 05/29/2013 05/31/2013 $0.0930 $0.0000 $0.0000 $0.0000 $0.0930
04/24/2013 04/26/2013 04/30/2013 $0.0510 $0.0000 $0.0000 $0.0000 $0.0510
    • Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund’s website at www.AdvisorShares.com. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, Distributor.
    • An investment in the Fund is subject to risk, including the possible loss of principal amount invested. The Fund’s investment in fixed income securities will change in value in response to interest rate changes and other factors, such as the perception of the issuer’s creditworthiness. Fixed income securities with longer maturities are subject to greater price shifts as a result of interest rate changes than fixed income securities with shorter maturities. The Fund’s investments in high-yield securities or “junk bonds” are subject to a greater risk of loss of income and principal than higher grade debt securities. Emerging and foreign market investments can be more volatile than U.S. securities and will expose the Fund to adverse changes in foreign economic, political, regulatory and currency exchange rates. See prospectus for details regarding specific risks. 
    •    

  •  
  • Definitions
  •  
  • Yield to maturity describes the rate of return an investor will receive if a long-term, interest-bearing security, such as a bond, is held to its maturity date.