Holdings data as of: 4/1/2020


Please swipe right to left below to see the holdings.
Name CUSIP Shares Market Value % of Market Value % of Net Assets
JP MORGAN USD GOVT MONEY MARKET INSTL X9USDJPMR 10,019,804.06 $10,019,804.06 9.93% 9.93%
JBS USA LUX/JBS USA FIN 6.75 2/15/2028 472141AA8 2,201,000 $2,319,743.95 2.3% 2.30%
GLOBAL SHIP LEASE INC 9.875 11/15/2022 37953TAB1 2,450,000 $2,289,980.7 2.27% 2.27%
TECHNIPLAS LLC 10 5/1/2020 87854WAA1 3,065,000 $2,114,850 2.1% 2.10%
QUAD GRAPHICS INC 7 5/1/2022 747301AC3 2,493,000 $2,077,755.95 2.06% 2.06%
COOKE OMEGA/ALPHA VESSEL 8.5 12/15/2022 21627UAA0 1,994,000 $2,005,836.38 1.99% 1.99%
URBAN ONE INC 7.375 4/15/2022 75040PAS7 2,219,000 $1,971,439.48 1.95% 1.95%
WELLTEC A/S 9.5 12/1/2022 950399AB1 1,875,000 $1,778,317.5 1.76% 1.76%
CLEARWATER SEAFOODS INC 6.875 5/1/2025 18538UAC0 2,023,000 $1,751,503.29 1.74% 1.74%
HLF FIN SARL LLC/HERBALI 7.25 8/15/2026 40390DAA3 1,716,000 $1,465,035 1.45% 1.45%
VECTOR GROUP LTD 6.125 2/1/2025 92240MBF4 1,572,000 $1,434,402.84 1.42% 1.42%
VOYAGER AVIATION HLDS 8.5 8/15/2021 46122XAG8 1,601,000 $1,402,796.2 1.39% 1.39%
LSB INDUSTRIES 9.625 5/1/2023 502160AM6 1,446,000 $1,238,274.87 1.23% 1.23%
VERICAST CORP 8.375 8/15/2022 412690AF6 1,580,600 $1,232,371.69 1.22% 1.22%
MONTAGE RESOURCES CORP 8.875 7/15/2023 27890GAB6 1,736,000 $1,184,767.92 1.17% 1.17%
BASIC ENERGY SERVICES 10.75 10/15/2023 06985PAN0 2,152,000 $1,076,000 1.07% 1.07%
AIR METHODS CORP. 04/22/24 TERM LOAN BL2407452 00001 1,493,602.86 $1,069,165.74 1.06% 1.06%
CVR PARTNERS/CVR NITROGE 9.25 6/15/2023 12663QAA3 1,231,000 $1,004,809.91 1% 1.00%
UPSTREAM REHABILIATION 10/19 2N 10/22/27 TERM LOAN BL3190842 00001 1,000,000 $990,000 0.98% 0.98%
CPKI TL 1L USD 08/23/22 TERM LOAN BL2216309 00001 1,949,494.93 $983,520.19 0.97% 0.97%
Granite Acquisition Inc 12/19/22 Term Loan BL1412008 1,000,000 $958,330 0.95% 0.95%
TMX FIN LLC/TITLEMAX FIN 11.125 4/1/2023 87261NAJ9 1,293,000 $951,964.79 0.94% 0.94%
SOUND INPATIENT PHYSICIA 06/26/26 TERM LOAN BL2720458 00001 1,069,938.69 $937,977.8 0.93% 0.93%
JW ALUMINUM CONT CAST CO 10.25 6/1/2026 46648XAA6 1,070,000 $940,040.48 0.93% 0.93%
ACE CASH EXPRESS INC 12 12/15/2022 004403AG6 1,333,000 $939,765 0.93% 0.93%
Tibco Software 03/03/28 Term Loan BL3306372 1,000,000 $925,000 0.92% 0.92%
McAfee, LLC 2nd Lien 09/29/25 Term Loan BL2516963 00001 1,000,000 $930,000 0.92% 0.92%
ASURION LLC 8/4/2025 Term Loan BL2481622 00001 1,000,000 $933,125 0.92% 0.92%
FRONTERA ENERGY CORP 9.7 6/25/2023 35905BAA5 1,405,000 $913,594.23 0.91% 0.91%
CURO GROUP HOLDINGS CORP 8.25 9/1/2025 23131LAA5 1,284,000 $901,971.48 0.89% 0.89%
CITGO PETROLEUM CORP 03/28/24 TERM LOAN BL2943522 00001 992,481.2 $883,308.27 0.88% 0.88%
Vertafore, Inc. 2nd Lien 07/02/26 Term Loan BL2704528 00001 1,000,000 $882,000 0.87% 0.87%
ENDO LUXEMBOURG FINANCE 04/29/24 TERM LOAN BL2410282 00001 989,821.86 $872,280.51 0.86% 0.86%
MED PARENTCO, LP (MYEYEDR) 2L 08/30/27 TERM LOAN BL3102201 00001 1,000,000 $850,000 0.84% 0.84%
EMECO PTY LTD 9.25 3/31/2022 29085TAC7 879,787 $848,994.46 0.84% 0.84%
Dealer Tire 12/12/25 Term Loan BL3297936 00001 997,500 $824,184.38 0.82% 0.82%
TKC HOLDING 02/01/2023 TERM LOAN BL2726547 00001 997,399.27 $823,103.75 0.82% 0.82%
CIMPRESS PLC 7 6/15/2026 17186HAC6 960,000 $829,639.2 0.82% 0.82%
JEFFERIES FIN LLC / JFIN 7.25 8/15/2024 47232MAD4 935,000 $812,276.58 0.8% 0.80%
AQ Carver Buyer, INC. Term Loan 09/23/25 Term Loan BL3151927 00001 995,000 $771,125 0.76% 0.76%
Edelman Financial Center, LLC 2 07/20/26 Term Loan BL2727438 00001 1,000,000 $771,000 0.76% 0.76%
DONNELLEY FINANCIAL SOL 8.25 10/15/2024 25787GAC4 821,000 $754,289.65 0.75% 0.75%
NNBR 10/19/22 Term Loan BL2576363 00001 1,000,000 $747,500 0.74% 0.74%
PAR PETRO LLC / FIN CORP 7.75 12/15/2025 69889MAA0 1,176,000 $748,224.12 0.74% 0.74%
MARRIOTT OWNERSHIP/ILG 6.5 9/15/2026 57165PAB1 865,000 $745,783.97 0.74% 0.74%
AI PLEX AcquiCo 07/31/26 Term Loan BL2995993 00001 997,493.73 $728,170.42 0.72% 0.72%
Mallinckrodt International Fin 02/24/25 Term Loan BL2604595 00001 994,923.8589 $683,303.76 0.68% 0.68%
JB POINDEXTER & CO INC 7.125 4/15/2026 730481AJ7 735,000 $686,458.76 0.68% 0.68%
HUNT COS INC 6.25 2/15/2026 445587AC2 896,000 $669,282.88 0.66% 0.66%
IAMGOLD CORP 7 4/15/2025 450913AE8 687,000 $647,116.22 0.64% 0.64%
GUITAR CENTER INC 9.5 10/15/2021 40203CAA2 865,000 $648,360.75 0.64% 0.64%
NAVIENT CORP 5.875 3/25/2021 63938CAC2 642,000 $631,580.34 0.63% 0.63%
ISHARES NATIONAL MUNI BOND E 464288414 5,747 $632,514.82 0.63% 0.63%
FXI HOLDINGS INC 7.875 11/1/2024 36120RAA7 865,000 $564,386.55 0.56% 0.56%
T-MOBILE USA INC 6.5 1/15/2024 87264AAJ4 500,000 $504,390 0.5% 0.50%
PATRICK INDUSTRIES INC 7.5 10/15/2027 703343AC7 507,000 $493,586.05 0.49% 0.49%
LEVEL 3 FINANCING INC 5.125 5/1/2023 527298BF9 500,000 $498,127.5 0.49% 0.49%
HUDBAY MINERALS INC 7.25 1/15/2023 443628AF9 541,000 $482,163.55 0.48% 0.48%
KENNEDY-WILSON INC 5.875 4/1/2024 489399AG0 500,000 $446,085 0.44% 0.44%
MRT MID PART/MRT MID FIN 7.25 2/15/2021 573334AD1 793,000 $435,119.1 0.43% 0.43%
FIRSTCASH INC 5.375 6/1/2024 33767DAA3 444,000 $429,012.78 0.43% 0.43%
QUICKEN LOANS INC 5.75 5/1/2025 74840LAA0 440,000 $424,052.2 0.42% 0.42%
EXELA INTERMED/EXELA FIN 10 7/15/2023 30162RAA9 1,721,000 $425,947.5 0.42% 0.42%
PILGRIM'S PRIDE CORP 5.75 3/15/2025 72147KAC2 400,000 $400,654 0.4% 0.40%
Advantage Sales 07/23/21 Term Loan BL1343682 00001 497,375.34 $391,683.08 0.39% 0.39%
PHOTO HOLDINGS MERGER SU 8.5 10/1/2026 719245AD4 479,000 $397,867.94 0.39% 0.39%
IRON MOUNTAIN INC 5.25 3/15/2028 46284VAE1 400,000 $390,220 0.39% 0.39%
FERROGLOBE / GLOBE SPEC 9.375 3/1/2022 315419AA9 1,355,000 $397,605.78 0.39% 0.39%
CCO HLDGS LLC/CAP CORP 4.75 3/1/2030 1248EPCD3 400,000 $394,220 0.39% 0.39%
CASCADES INC/USA INC 5.375 1/15/2028 14739LAB8 400,000 $383,000 0.38% 0.38%
CALPINE CORP 4.5 2/15/2028 131347CM6 400,000 $381,424 0.38% 0.38%
WARRIOR MET COAL INC 8 11/1/2024 93627CAA9 444,000 $369,352.5 0.37% 0.37%
ALCOA NEDERLAND HOLDING 6.125 5/15/2028 013822AC5 400,000 $370,304 0.37% 0.37%
COMMSCOPE INC 8.25 3/1/2027 20338QAA1 385,000 $365,961.75 0.36% 0.36%
TRUCK HERO INC 8.5 4/21/2024 897787AA5 385,000 $349,866.83 0.35% 0.35%
TEGNA INC 5 9/15/2029 87901JAC9 400,000 $354,052 0.35% 0.35%
SPEEDWAY MOT/SPEEDWAY FD 4.875 11/1/2027 84779MAA2 400,000 $355,680 0.35% 0.35%
SANCHEZ ENERGY CORP 7.25 2/15/2023 79970YAE5 2,076,000 $352,920 0.35% 0.35%
KORN/FERRY INTERNATIONAL 4.625 12/15/2027 50067PAA7 400,000 $349,640 0.35% 0.35%
DIAMOND SPORTS GR/DIAMON 6.625 8/15/2027 25277LAC0 600,000 $356,670 0.35% 0.35%
CORECIVIC INC 4.75 10/15/2027 21871NAA9 479,000 $354,495.93 0.35% 0.35%
COOPER-STANDARD AUTOMOTI 5.625 11/15/2026 216762AF1 479,000 $348,971.86 0.35% 0.35%
M/I HOMES INC 4.95 2/1/2028 55305BAR2 400,000 $341,000 0.34% 0.34%
NETFLIX INC 4.875 6/15/2030 64110LAV8 325,000 $328,071.25 0.33% 0.33%
BLUE RACER MID LLC/FINAN 6.125 11/15/2022 095796AA6 444,000 $335,370.96 0.33% 0.33%
ROCKPOINT GAS STORAGE CA 7 3/31/2023 77381WAA4 444,000 $326,897.22 0.32% 0.32%
ADT SEC CORP 4.875 7/15/2032 74166NAA2 385,000 $326,316.38 0.32% 0.32%
MCLAREN FINANCE PLC 5.75 8/1/2022 65489DAA2 465,000 $318,525 0.32% 0.32%
BROOKFIELD PPTY REIT INC 5.75 5/15/2026 11284DAA3 400,000 $324,248.8 0.32% 0.32%
TRANSALTA CORP 6.5 3/15/2040 89346DAE7 400,000 $315,000 0.31% 0.31%
OCI NV 6.625 4/15/2023 67091GAA1 325,000 $308,513.83 0.31% 0.31%
GENWORTH HOLDINGS INC 6.5 6/15/2034 37247DAB2 382,000 $316,503.24 0.31% 0.31%
WATCO COS LLC/FINANCE CO 6.375 4/1/2023 941130AA4 310,000 $304,960.95 0.3% 0.30%
CHEMOURS CO 6.625 5/15/2023 163851AB4 360,000 $303,751.8 0.3% 0.30%
CINCINNATI BELL INC 8 10/15/2025 14987RAA6 300,000 $306,466.5 0.3% 0.30%
ARCONIC INC 6.15 8/15/2020 013817AU5 297,000 $301,523.31 0.3% 0.30%
VENATOR FIN SARL/VENATOR 5.75 7/15/2025 9226APAA3 385,000 $287,787.5 0.29% 0.29%
TEREX CORP 5.625 2/1/2025 880779AZ6 315,000 $294,131.25 0.29% 0.29%
NORTONLIFELOCK INC 4.2 9/15/2020 871503AH1 297,000 $295,169.03 0.29% 0.29%
ORBCOMM INC 8 4/1/2024 68555PAA8 300,000 $294,375 0.29% 0.29%
OLIN CORP 5.625 8/1/2029 680665AL0 325,000 $290,663.75 0.29% 0.29%
NIELSEN FINANCE LLC/CO 4.5 10/1/2020 65409QBA9 295,000 $289,468.75 0.29% 0.29%
MINERAL RESOURCES LTD 8.125 5/1/2027 603051AA1 315,000 $297,308.81 0.29% 0.29%
MICHAELS STORES INC 8 7/15/2027 594087AU2 385,000 $290,886.75 0.29% 0.29%
MDC HOLDINGS INC 6 1/15/2043 552676AQ1 300,000 $283,597.5 0.28% 0.28%
CLOUD CRANE LLC 10.125 8/1/2024 18911YAA3 310,000 $279,392.15 0.28% 0.28%
ADVANTAGE SALES & MARKETING 07/23/21 Term Loan BL2414664 00001 337,852.25 $267,747.91 0.27% 0.27%
TRONOX INC 6.5 4/15/2026 897051AA6 300,000 $268,522.5 0.27% 0.27%
NSG HOLDINGS LLC/NSG HLD 7.75 12/15/2025 62940QAA3 270,261.7144 $269,922.54 0.27% 0.27%
ICAHN ENTERPRISES/FIN 5.25 5/15/2027 451102BZ9 300,000 $276,660 0.27% 0.27%
HARSCO CORP 5.75 7/31/2027 415864AM9 300,000 $277,522.5 0.27% 0.27%
CARLSON TRAVEL INC 6.75 12/15/2023 14282LAA1 400,000 $273,498 0.27% 0.27%
RESIDEO FUNDING INC 6.125 11/1/2026 76119LAA9 300,000 $259,477.5 0.26% 0.26%
NUFARM AUSTRALIA/AMERICA 5.75 4/30/2026 67052NAA3 300,000 $264,372.75 0.26% 0.26%
HOUGHTON MIFFLIN HARCOUR 9 2/15/2025 44157TAA3 300,000 $267,375 0.26% 0.26%
FREEDOM MORTGAGE CORP 10.75 4/1/2024 35640YAD9 300,000 $257,925 0.26% 0.26%
FAGE INTL / FAGE USA 5.625 8/15/2026 30257WAA4 300,000 $258,312.75 0.26% 0.26%
ENOVA INTERNATIONAL INC 8.5 9/1/2024 29357KAD5 300,000 $265,123.5 0.26% 0.26%
C&W SENIOR FINANCING DAC 6.875 9/15/2027 12674TAA4 300,000 $260,090.25 0.26% 0.26%
ADIENT GLOBAL HOLDINGS 4.875 8/15/2026 00687YAA3 400,000 $261,030 0.26% 0.26%
PLANTRONICS INC 5.5 5/31/2023 727493AB4 360,000 $254,689.2 0.25% 0.25%
GLOBAL AIR LEASE CO LTD 6.5 9/15/2024 37960JAA6 400,000 $253,120 0.25% 0.25%
FORTRESS TRANS & INFRAST 6.75 3/15/2022 34960PAA9 273,000 $253,540.56 0.25% 0.25%
UNISYS CORP 10.75 4/15/2022 909214BT4 226,000 $239,206.54 0.24% 0.24%
PARK-OHIO INDUSTRIES INC 6.625 4/15/2027 700677AR8 300,000 $239,562.75 0.24% 0.24%
INFRABUILD AUSTRALIA PTY 12 10/1/2024 45682RAA8 300,000 $242,623.5 0.24% 0.24%
UNITI GROUP/CSL CAPITAL 6 4/15/2023 20341WAA3 273,000 $245,017.5 0.24% 0.24%
VISTA OUTDOOR INC 5.875 10/1/2023 928377AB6 273,000 $230,888.39 0.23% 0.23%
SOTHEBY'S 7.375 10/15/2027 835898AH0 300,000 $234,585 0.23% 0.23%
SCHWEITZER-MAUDUIT INTL 6.875 10/1/2026 808541AA4 229,000 $229,238.73 0.23% 0.23%
PTC INC 6 5/15/2024 69370CAA8 226,000 $233,063.63 0.23% 0.23%
OWENS & MINOR INC 4.375 12/15/2024 690732AE2 288,000 $227,158.56 0.23% 0.23%
ALLIANCE RES OP/FINANCE 7.5 5/1/2025 01879NAA3 400,000 $236,000 0.23% 0.23%
SOUTHERN STAR CENT CORP 5.125 7/15/2022 843830AF7 226,000 $223,814.09 0.22% 0.22%
QWEST CORP 6.75 12/1/2021 74913GAX3 214,000 $217,558.54 0.22% 0.22%
MOUNTAIN PROVINCE DIAMON 8 12/15/2022 62426EAA3 300,000 $222,375 0.22% 0.22%
HI-CRUSH INC 9.5 8/1/2026 428337AA7 1,292,000 $219,640 0.22% 0.22%
FLY LEASING LTD 6.375 10/15/2021 34407DAB5 235,000 $224,571.88 0.22% 0.22%
AIR CANADA 7.75 4/15/2021 008911AZ2 226,000 $219,423.4 0.22% 0.22%
WASHINGTON PG LP 6.45 8/15/2024 939648AE1 385,000 $214,158.18 0.21% 0.21%
PERFORMANCE FOOD GROUP I 5.5 6/1/2024 71376LAB6 226,000 $211,308.87 0.21% 0.21%
MCGRAW-HILL GLOBAL ED 7.875 5/15/2024 580638AC8 300,000 $212,623.5 0.21% 0.21%
MASTEC INC 4.875 3/15/2023 576323AN9 226,000 $208,766.37 0.21% 0.21%
MAGELLAN HEALTH SRVCS 4.9 9/22/2024 559079AK4 229,000 $208,952.2 0.21% 0.21%
CLEVELAND-CLIFFS INC 6.25 10/1/2040 18683KAC5 385,000 $215,717.43 0.21% 0.21%
AMERICAN AXLE & MFG INC 6.25 4/1/2025 02406PAR1 268,000 $213,060 0.21% 0.21%
MEREDITH CORP 6.875 2/1/2026 589433AB7 229,000 $198,249.31 0.2% 0.20%
LSC COMMUNICATIONS INC 8.75 10/15/2023 50218PAA5 1,722,000 $198,030 0.2% 0.20%
LGI HOMES INC 6.875 7/15/2026 50187TAE6 226,000 $198,550.61 0.2% 0.20%
FREEPORT-MCMORAN INC 5 9/1/2027 35671DCC7 229,000 $206,821.35 0.2% 0.20%
AVON INTERNATIONAL OPERA 7.875 8/15/2022 05409QAA6 226,000 $206,333.25 0.2% 0.20%
UNIVISION COMMUNICATIONS 5.125 2/15/2025 914906AS1 227,000 $187,842.5 0.19% 0.19%
TUTOR PERINI CORP 6.875 5/1/2025 901109AF5 226,000 $188,145 0.19% 0.19%
RESOLUTE FOREST PRODUCTS 5.875 5/15/2023 76117WAB5 226,000 $194,076.37 0.19% 0.19%
NAVISTAR INTL CORP 6.625 11/1/2025 63934EAT5 229,000 $189,212.4 0.19% 0.19%
FTS INTERNATIONAL INC 6.25 5/1/2022 30283WAB0 548,000 $195,052.93 0.19% 0.19%
ANTERO MIDSTREAM PART/FI 5.75 3/1/2027 03690AAD8 300,000 $191,272.5 0.19% 0.19%
Academy, Ltd. 07/01/22 Term Loan BL1737727 00001 325,532.16 $181,754.37 0.18% 0.18%
WABASH NATIONAL CORP 5.5 10/1/2025 929566AJ6 229,000 $184,057.61 0.18% 0.18%
TALEN ENERGY SUPPLY LLC 6.5 6/1/2025 87422VAA6 288,000 $176,758.56 0.18% 0.18%
RHP HOTEL PPTY/RHP FINAN 5 4/15/2023 749571AD7 226,000 $180,516.37 0.18% 0.18%
GEO GROUP INC/THE 6 4/15/2026 36162JAB2 288,000 $184,298.4 0.18% 0.18%
MERCER INTL INC 5.5 1/15/2026 588056AW1 229,000 $168,904.68 0.17% 0.17%
INGLES MARKETS INC 5.75 6/15/2023 457030AJ3 174,000 $171,819.78 0.17% 0.17%
TERVITA CORP 7.625 12/1/2021 88158UAA6 226,000 $159,725.5 0.16% 0.16%
MERITOR INC 6.25 2/15/2024 59001KAD2 176,000 $163,900.88 0.16% 0.16%
JACOBS ENTERTAINMENT INC 7.875 2/1/2024 469815AH7 226,000 $160,176.37 0.16% 0.16%
GOODYEAR TIRE & RUBBER 4.875 3/15/2027 382550BG5 185,000 $166,370.5 0.16% 0.16%
GAMESTOP CORP 6.75 3/15/2021 36467WAB5 226,000 $164,415 0.16% 0.16%
CITGO PETROLEUM CORP 6.25 8/15/2022 17302XAJ5 176,000 $164,116.3 0.16% 0.16%
ASTON MARTIN CAPITAL HOL 6.5 4/15/2022 04625HAA7 235,000 $164,500 0.16% 0.16%
WILLIAMS SCOTSMAN INTL 7.875 12/15/2022 96950GAA0 158,000 $155,461.89 0.15% 0.15%
HERTZ CORP 6.25 10/15/2022 428040CN7 226,000 $144,070.25 0.14% 0.14%
ARROW BIDCO LLC 9.5 3/15/2024 042728AA3 300,000 $137,623.5 0.14% 0.14%
PEABODY ENERGY CORP 6 3/31/2022 70457LAA2 176,000 $130,240 0.13% 0.13%
HERTZ CORP 5.5 10/15/2024 428040CS6 226,000 $121,193.63 0.12% 0.12%
VIRGIN AUSTRALIA HOLDING 7.875 10/15/2021 92765YAG2 226,000 $111,729.88 0.11% 0.11%
PITNEY BOWES INC 5.2 4/1/2023 724479AN0 151,000 $111,550.5 0.11% 0.11%
PARTY CITY HOLDINGS INC 6.625 8/1/2026 702150AD5 949,000 $99,645 0.1% 0.10%
Academy, Ltd. 07/01/22 Term Loan BL1737727 00002 171,371.59 $95,681.9 0.09% 0.09%
NGL ENRGY PART LP/FIN CO 7.5 11/1/2023 62913TAJ1 226,000 $77,637.78 0.08% 0.08%
MBIA INC 6.4 8/15/2022 55262CAH3 72,000 $67,680 0.07% 0.07%
CALFRAC HOLDINGS LP 10.875 3/15/2026 12958RAE7 288,200 $72,050 0.07% 0.07%
CALFRAC HOLDINGS LP 8.5 6/15/2026 12958RAD9 544,000 $46,240 0.05% 0.05%
CASH CASH -14,299.16 $-14,299.16 -0.01% -0.01%

Fund holdings and sector allocations are subject to change and are not a recommendation to buy or sell any security.

Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s prospectus and Summary Prospectus, which may be obtained by visiting https://hyldetf.com/documents. Read the prospectus and Summary Prospectus carefully before investing.

Foreside Fund Services, LLC, distributor.

An investment in the Fund is subject to risk, including the possible loss of principal amount invested. Non-diversification exposes the Fund to greater market risk than if its assets were diversified among a greater number of issuers and/or sectors. High yield, lower rated bonds involve a greater degree of risk than investment grade bonds in return for higher yield potential. As such, securities rated below investment grade generally entail greater credit, market, issuer and liquidity risk than investment grade securities. Interest rate risk occurs when interest rates rise as bond prices usually fall This Fund may not be suitable for all investors.

Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00pm Eastern Time (when NAV is normally determined) and do not represent the return you would receive if you traded at other times.