Description

The ETF seeks to mirror the performance of the Bloomberg US HY Very Liquid Index ex 144A (GTR, USD), which tracks a highly liquid segment of the high-yield, U.S. dollar-denominated corporate bond market. These fixed-interest bonds, issued by financial, utility, and industrial firms, have credit ratings of Ba1/BB+/BB+ or lower. The index specifically selects bonds known for their enhanced liquidity compared to the broader parent index and excludes 144A tranche securities without a corresponding Regulation S tranche. For inclusion, bonds must satisfy specific criteria related to maturity, credit quality, liquidity, currency, outstanding amount, quality, and interest payments at each rebalancing. Further information on the index and its methodology can be found on the Bloomberg Indices website: https://www.bloombergindices.com/.