Specifically, the index has a hedged allocation in short-treasury positions including 2-year Treasuries 22.8%, 5-year Treasuries 32.7% and 10-year Treasuries 42.4%.
Sector long high-yield allocations include industrial services 35.0%, industrial manufacturing 25.4%, industrial energy 15.9%, utilities 9.8%, industrial consumer 4.8%, utilities other 3.3%, utilities electricity 2.0%, finance banks 2.0% and finance independent 1.9%.
The index credit quality breakdown includes speculative grade debt BB 44.3%, B 41.6% and CCC or lower 14.2%. [Investors Jumping Back Into Junk Bond ETFs]
For more information on high-yield funds, visit our high-yield bonds category.
Max Chen contributed to this article.