Description

The Markit iBoxx EUR Liquid High Yield Index seeks to replicate the investment performance of a particular segment of the bond market: euro-denominated corporate bonds. This includes only sub-investment grade debt, where a minimum credit rating of CCC is required. To be eligible, bonds must possess a minimum maturity of two years upon their initial inclusion, and their original time to maturity should not exceed 10.5 years. Furthermore, each bond must have at least EUR 250 million outstanding. For diversification, the index applies an issuer cap of 3% and a country cap of 20%. Comprehensive information about the index and its methodology is available on the Markit iBoxx website.