| Name | Weight | Shares |
| UNITED STATES TREAS NTS 2.125% 12/31/2021 | 4.30% | 19,385,000 |
| UNITED STATES TREAS BDS 8% 11/15/2021 | 4.04% | 16,510,000 |
| UNITED STATES TREAS BDS 3.75% 11/15/2043 | 3.12% | 11,210,000 |
| UNITED STATES TREAS NTS 1.75% 11/30/2021 | 2.93% | 13,305,000 |
| UNITED STATES TREAS NTS 2.5% 01/15/2022 | 2.91% | 13,025,000 |
| UNITED STATES TREAS BDS 4.375% 05/15/2041 | 2.72% | 9,100,000 |
| FNMA TBA 30YR TBA 4% FEB 4% 02/15/2041 | 2.48% | 10,825,000 |
| FNMA TBA 30YR TBA 3.50% FEB 3.5% 02/15/2042 | 2.42% | 10,685,000 |
| UNITED STATES TREAS NTS 2% 08/31/2021 | 2.20% | 9,945,000 |
| UNITED STATES TREAS NTS 1.125% 08/31/2021 | 2.05% | 9,415,000 |
| UNITED STATES TREAS NTS 2% 12/31/2021 | 1.95% | 8,815,000 |
| UNITED STATES TREAS NTS 2.125% 09/30/2021 | 1.86% | 8,400,000 |
| FNMA TBA 30YR TBA 5.00% FEB 5% 02/15/2044 | 1.83% | 7,810,000 |
| UNITED STATES TREAS NTS 2.875% 10/15/2021 | 1.80% | 8,030,000 |
| UNITED STATES TREAS NTS 2% 10/31/2021 | 1.60% | 7,260,000 |
| UNITED STATES TREAS NTS 1.25% 10/31/2021 | 1.49% | 6,835,000 |
| UNITED STATES TREAS NTS 1.875% 01/31/2022 | 1.46% | 6,600,000 |
| UNITED STATES TREAS BDS 3.625% 08/15/2043 | 1.43% | 5,230,000 |
| UNITED STATES TREAS NTS 1.125% 09/30/2021 | 1.37% | 6,280,000 |
| UNITED STATES TREAS NTS 2.875% 11/15/2021 | 1.17% | 5,210,000 |
| UNITED STATES TREAS BDS 4.25% 11/15/2040 | 1.17% | 3,990,000 |
| UNITED STATES TREAS NTS 2.75% 09/15/2021 | 1.14% | 5,100,000 |
| UNITED STATES TREAS NTS 2.5% 02/15/2022 | 1.14% | 5,080,000 |
| UNITED STATES TREAS BDS 4.75% 02/15/2041 | 1.11% | 3,550,000 |
| UNITED STATES TREAS NTS 1.875% 11/30/2021 | 1.03% | 4,655,000 |
| UNITED STATES TREAS BDS 3.75% 08/15/2041 | 0.89% | 3,225,000 |
| UNITED STATES TREAS BDS 3.625% 02/15/2044 | 0.86% | 3,165,000 |
| UNITED STATES TREAS NTS 2% 11/15/2021 | 0.84% | 3,780,000 |
| UNITED STATES TREAS NTS 1.5% 01/31/2022 | 0.83% | 3,810,000 |
| Cash & Other | 0.82% | 3,731,575 |
| FNMA TBA 30YR TBA 3% FEB 3% 02/15/2043 | 0.64% | 2,860,000 |
| UNITED STATES TREAS BDS 5.5% 08/15/2028 | 0.61% | 2,140,000 |
| UNITED STATES TREAS BDS 6.125% 11/15/2027 | 0.56% | 1,920,000 |
| UNITED STATES TREAS BDS 6.5% 11/15/2026 | 0.54% | 1,880,000 |
| ADIENT GLOBAL HLDGS LTD 4.875% 08/15/2026 | 0.45% | 2,300,000 |
| GNMAII JUMBO TBA 30YR TBA 03.500% FEB 3.5% 02/15/2045 | 0.45% | 2,010,000 |
| L BRANDS INC 6.75% 07/01/2036 | 0.44% | 2,155,000 |
| EMBARQ CORP 7.995% 06/01/2036 | 0.44% | 1,850,000 |
| CNX RESOURCES CORPORATION 7.25% 03/14/2027 | 0.42% | 2,280,000 |
| UNITED STATES STL CORP NEW 6.25% 03/15/2026 | 0.42% | 2,180,000 |
| UNITED STATES TREAS BDS 5.25% 11/15/2028 | 0.41% | 1,470,000 |
| CLEVELAND CLIFFS INC 5.875% 06/01/2027 | 0.40% | 1,900,000 |
| CLOUD CRANE LLC 10.125% 08/01/2024 | 0.40% | 1,720,000 |
| TRINSEO MATLS OPER SCA / FIN SR GLBL 144A 25 5.375% 09/01/2025 | 0.39% | 1,800,000 |
| EDISON INTL 4.125% 03/15/2028 | 0.39% | 1,695,000 |
| USA COMPRESSION PARTNERS LP 6.875% 09/01/2027 | 0.39% | 1,670,000 |
| UNITED STATES TREAS BDS 6% 02/15/2026 | 0.39% | 1,415,000 |
| WASHINGTON PRIME GROUP LP 6.45% 08/15/2024 | 0.38% | 1,870,000 |
| TUTOR PERINI CORP 6.875% 05/01/2025 | 0.37% | 1,800,000 |
| ALLSTATE CORP 6.5% 05/15/2067 | 0.36% | 1,290,000 |
| DEVON FING CORP U L C 7.875% 09/30/2031 | 0.36% | 1,157,000 |
| DISH DBS CORP 7.75% 07/01/2026 | 0.35% | 1,485,000 |
| KIRBY CORP 4.2% 03/01/2028 | 0.35% | 1,485,000 |
| APACHE CORP 5.25% 02/01/2042 | 0.35% | 1,470,000 |
| ENSTAR GROUP LTD 4.95% 06/01/2029 | 0.35% | 1,469,000 |
| MARKEL CORP 5% 04/05/2046 | 0.35% | 1,375,000 |
| PRUDENTIAL FINL INC 5.7% 09/15/2048 | 0.35% | 1,370,000 |
| HESS CORP 6% 01/15/2040 | 0.35% | 1,325,000 |
| INTERPUBLIC GROUP COS INC 5.4% 10/01/2048 | 0.35% | 1,295,000 |
| EQT CORP 3.9% 10/01/2027 | 0.34% | 1,810,000 |
| SYNCHRONY FINL 3.7% 08/04/2026 | 0.34% | 1,500,000 |
| AXA EQUITABLE HLDGS INC 5% 04/20/2048 | 0.34% | 1,375,000 |
| GLP CAP LP/GLP FING II INC 5.75% 06/01/2028 | 0.34% | 1,350,000 |
| UNITED STATES TREAS BDS 3.125% 02/15/2043 | 0.34% | 1,350,000 |
| METLIFE INC 10.75% 08/01/2069 | 0.34% | 930,000 |
| OWENS CORNING NEW 4.3% 07/15/2047 | 0.33% | 1,540,000 |
| MACYS RETAIL HLDGS INC 3.625% 06/01/2024 | 0.33% | 1,475,000 |
| INGREDION INC 3.2% 10/01/2026 | 0.33% | 1,460,000 |
| DELTA AIR LINES INC DEL 4.375% 04/19/2028 | 0.33% | 1,435,000 |
| ING U S INC 5.65% 05/15/2053 | 0.33% | 1,420,000 |
| PBF HLDG CO LLC / PBF FIN CORP FR 7.25% 061525 7.25% 06/15/2025 | 0.33% | 1,400,000 |
| SEAGATE HDD CAYMAN 4.875% 06/01/2027 | 0.33% | 1,380,000 |
| MICRON TECHNOLOGY INC 5.327% 02/06/2029 | 0.33% | 1,315,000 |
| MOSAIC CO NEW 5.625% 11/15/2043 | 0.33% | 1,260,000 |
| HEWLETT PACKARD ENTERPRISE CO SR GLBL NT 45 6.35% 10/15/2045 | 0.33% | 1,210,000 |
| AETNA INC NEW 6.625% 06/15/2036 | 0.33% | 1,100,000 |
| BRIGHTHOUSE FINL INC 4.7% 06/22/2047 | 0.32% | 1,550,000 |
| NATIONAL OILWELL VARCO INC 3.95% 12/01/2042 | 0.32% | 1,520,000 |
| TECH DATA CORP 4.95% 02/15/2027 | 0.32% | 1,400,000 |
| MPLX LP 4.125% 03/01/2027 | 0.32% | 1,395,000 |
| CONTINENTAL RESOURCES INC 4.375% 01/15/2028 | 0.32% | 1,390,000 |
| JABIL INC 3.95% 01/12/2028 | 0.32% | 1,365,000 |
| MASCO CORP 4.375% 04/01/2026 | 0.32% | 1,315,000 |
| ACTAVIS FUNDING SCS 4.85% 06/15/2044 | 0.32% | 1,300,000 |
| FEDEX CORP 5.1% 01/15/2044 | 0.32% | 1,260,000 |
| UNUM GROUP 5.75% 08/15/2042 | 0.32% | 1,250,000 |
| LEGG MASON INC 5.625% 01/15/2044 | 0.32% | 1,225,000 |
| CONAGRA BRANDS INC 5.4% 11/01/2048 | 0.32% | 1,160,000 |
| MARATHON OIL CORP 6.6% 10/01/2037 | 0.32% | 1,140,000 |
| VIACOM INC 6.875% 04/30/2036 | 0.32% | 1,070,000 |
| HALLIBURTON CO 7.45% 09/15/2039 | 0.32% | 1,000,000 |
| PATTERSON UTI ENERGY INC 3.95% 02/01/2028 | 0.31% | 1,435,000 |
| SPIRIT AEROSYSTEMS INC 4.6% 06/15/2028 | 0.31% | 1,410,000 |
| CARDINAL HEALTH INC 4.368% 06/15/2047 | 0.31% | 1,410,000 |
| FLUOR CORP NEW 4.25% 09/15/2028 | 0.31% | 1,410,000 |
| WHIRLPOOL CORP 4.5% 06/01/2046 | 0.31% | 1,340,000 |
| SOUTHERN CO 5.5% 03/15/2057 | 0.31% | 1,330,000 |
| AMERICAN EQTY INVT LIFE HLD CO CR SEN SR GLBL27 5% 06/15/2027 | 0.31% | 1,310,000 |
| MPT OPERATING PARTNERSHIP L.P SR GLBL NT 5% 27 5% 10/15/2027 | 0.31% | 1,300,000 |
| CARE CAP PPTYS LP 5.125% 08/15/2026 | 0.31% | 1,290,000 |
| WABTEC CORP 4.95% 09/15/2028 | 0.31% | 1,270,000 |
| MOLSON COORS BEVERAGE COMPANY SR GLBL NT 5% 42 5% 05/01/2042 | 0.31% | 1,260,000 |
| PLAINS ALL AMERN PIPELINE L P SR NT 6.65% 37 6.65% 01/15/2037 | 0.31% | 1,200,000 |
| CHARTER COMMUNICATIONS OPER 6.834% 10/23/2055 | 0.31% | 1,100,000 |
| FIFTH THIRD BANCORP 8.25% 03/01/2038 | 0.31% | 905,000 |
| CIMAREX ENERGY CO 3.9% 05/15/2027 | 0.30% | 1,325,000 |
| WALGREENS BOOTS ALLIANCE INC SR NT 4.8% 44 4.8% 11/18/2044 | 0.30% | 1,320,000 |
| DARDEN RESTAURANTS INC 3.85% 05/01/2027 | 0.30% | 1,305,000 |
| ENERGY TRANSFER PRTNRS L P 7.5% 07/01/2038 | 0.30% | 1,069,000 |
| ONEOK PARTNERS LP 6.65% 10/01/2036 | 0.29% | 1,030,000 |
| OCCIDENTAL PETE CORP 6.6% 03/15/2046 | 0.29% | 1,000,000 |
| ENABLE MIDSTREAM PARTNERS LP SR NT 5% 44 5% 05/15/2044 | 0.28% | 1,350,000 |
| LEAR CORP 3.8% 09/15/2027 | 0.28% | 1,260,000 |
| FNMA TBA 30YR TBA 4.5% FEB 4.5% 02/15/2040 | 0.28% | 1,215,000 |
| GNMA TBA 30YR TBA 4.50% FEB 4.5% 02/15/2041 | 0.28% | 1,200,000 |
| HOLLYFRONTIER CORP 5.875% 04/01/2026 | 0.28% | 1,140,000 |
| INTL PAPER CO 7.3% 11/15/2039 | 0.28% | 915,000 |
| DIAMOND SPORTS GROUP LLC / DIA SR GLBL 144A 27 6.625% 08/15/2027 | 0.27% | 1,270,000 |
| BUCKEYE PARTNERS L P 3.95% 12/01/2026 | 0.27% | 1,255,000 |
| UNITED STATES TREAS NTS 2% 02/15/2022 | 0.27% | 1,240,000 |
| GNMAII JUMBO TBA 30YR TBA 3% FEB 3% 02/15/2043 | 0.27% | 1,200,000 |
| COACH INC 4.125% 07/15/2027 | 0.27% | 1,185,000 |
| ARCHROCK PARTNERS L P / ARCHRO SR GLBL 144A 27 6.875% 04/01/2027 | 0.27% | 1,135,000 |
| VULCAN MATLS CO 4.5% 06/15/2047 | 0.27% | 1,100,000 |
| ALTRIA GROUP INC 5.375% 01/31/2044 | 0.27% | 1,080,000 |
| HEWLETT PACKARD CO 6% 09/15/2041 | 0.27% | 1,065,000 |
| HASBRO INC 6.35% 03/15/2040 | 0.26% | 1,000,000 |
| GNMA TBA 30YR TBA 3.50% FEB 3.5% 02/15/2041 | 0.25% | 1,100,000 |
| GNMA TBA 30 YR 4.0 FEB 4% 02/15/2041 | 0.25% | 1,100,000 |
| GNMAII JUMBO TBA 30YR TBA 4% FEB 4% 02/15/2042 | 0.25% | 1,100,000 |
| GNMA TBA 30YR TBA 3% FEB 3% 02/15/2043 | 0.25% | 1,100,000 |
| CONCHO RES INC 3.75% 10/01/2027 | 0.25% | 1,090,000 |
| OLD REP INTL CORP 3.875% 08/26/2026 | 0.25% | 1,075,000 |
| EXELON GENERATION CO LLC 6.25% 10/01/2039 | 0.25% | 940,000 |
| GNMAII JUMBO TBA 30YR TBA 4.50% FEB 4.5% 02/15/2041 | 0.24% | 1,040,000 |
| NEXTERA ENERGY CAP HLDGS INC JR SB GLBL -M 77 4.8% 12/01/2077 | 0.24% | 1,035,000 |
| CARLISLE COS INC 3.75% 12/01/2027 | 0.24% | 1,020,000 |
| BNSF FUNDING TRUST 1 6.613% 12/15/2055 | 0.24% | 970,000 |
| TENNESSEE VALLEY AUTH 5.25% 09/15/2039 | 0.24% | 780,000 |
| ZAYO GROUP LLC/ZAYO CAP INC 6.375% 05/15/2025 | 0.23% | 1,005,000 |
| AT&T INC 5.3% 08/15/2058 | 0.23% | 850,000 |
| PSEG PWR LLC 8.625% 04/15/2031 | 0.22% | 715,000 |
| TENNESSEE VALLEY AUTH 5.88% 04/01/2036 | 0.22% | 690,000 |
| TENNESSEE VALLEY AUTH 6.15% 01/15/2038 | 0.22% | 680,000 |
| UNITED STATES TREAS NTS 1.875% 02/28/2022 | 0.21% | 965,000 |
| MURPHY OIL CORP 5.75% 08/15/2025 | 0.21% | 920,000 |
| MARTIN MARIETTA MATLS INC 4.25% 12/15/2047 | 0.21% | 900,000 |
| CALPINE CORP 5.75% 01/15/2025 | 0.20% | 890,000 |
| M D C HLDGS INC 6% 01/15/2043 | 0.20% | 850,000 |
| VALERO ENERGY CORP NEW 6.625% 06/15/2037 | 0.20% | 670,000 |
| TALLGRASS ENERGY PARTNERS LP/ SR GLBL 144A 24 5.5% 09/15/2024 | 0.19% | 870,000 |
| DOMINION ENERGY INC 5.75% 10/01/2054 | 0.19% | 785,000 |
| SONOCO PRODS CO 5.75% 11/01/2040 | 0.19% | 690,000 |
| TEREX CORP NEW 5.625% 02/01/2025 | 0.17% | 760,000 |
| UNITED STATES TREAS NTS 1.75% 02/28/2022 | 0.17% | 750,000 |
| FREEPORT-MCMORAN INC 5.4% 11/14/2034 | 0.17% | 740,000 |
| UNITED STATES CELLULAR CORP 6.7% 12/15/2033 | 0.17% | 680,000 |
| TENNESSEE VALLEY AUTH 7.125% 05/01/2030 | 0.17% | 535,000 |
| ALLEGHENY TECHNOLOGIES INC 7.875% 08/15/2023 | 0.16% | 650,000 |
| ENTERPRISE PRODS OPER LLC 4.875% 08/16/2077 | 0.15% | 690,000 |
| CUMULUS MEDIA NEW HLDGS INC 6.75% 07/01/2026 | 0.14% | 610,000 |
| CF INDS INC 5.375% 03/15/2044 | 0.14% | 550,000 |
| TENNESSEE VALLEY AUTH 1.875% 08/15/2022 | 0.13% | 575,000 |
| AMKOR TECHNOLOGY INC 6.625% 09/15/2027 | 0.13% | 555,000 |
| GREIF INC 6.5% 03/01/2027 | 0.13% | 550,000 |
| NCR CORP NEW 6.125% 09/01/2029 | 0.13% | 520,000 |
| HOSPITALITY PPTYS TR 4.35% 10/01/2024 | 0.12% | 510,000 |
| HARSCO CORP 5.75% 07/31/2027 | 0.12% | 500,000 |
| GRAY ESCROW INC 7% 05/15/2027 | 0.12% | 490,000 |
| VALERO ENERGY PARTNERS LP 4.375% 12/15/2026 | 0.12% | 480,000 |
| GRUBHUB HLDGS INC 5.5% 07/01/2027 | 0.11% | 500,000 |
| SALLY HLDGS LLC 5.625% 12/01/2025 | 0.11% | 460,000 |
| HUGHES SATELLITE SYS CORP 6.625% 08/01/2026 | 0.11% | 440,000 |
| PARSLEY ENERGY LLC 5.625% 10/15/2027 | 0.10% | 430,000 |
| TENNESSEE VALLEY AUTH 2.875% 02/01/2027 | 0.10% | 430,000 |
| FEDERAL HOME LN MTG CORP 1.125% 08/12/2021 | 0.09% | 420,000 |
| FEDERAL NATL MTG ASSN 1.25% 08/17/2021 | 0.09% | 415,000 |
| FEDERAL HOME LOAN BANKS 3% 09/10/2021 | 0.09% | 400,000 |
| SUNOCO LP/SUNOCO FIN CORP 6% 04/15/2027 | 0.09% | 400,000 |
| OLIN CORP 5% 02/01/2030 | 0.09% | 390,000 |
| HERC HLDGS INC 5.5% 07/15/2027 | 0.09% | 370,000 |
| FEDERAL NATL MTG ASSN 7.125% 01/15/2030 | 0.09% | 290,000 |
| TALLGRASS ENERGY PARTNERS LP/ SR GLBL 144A 28 5.5% 01/15/2028 | 0.08% | 380,000 |
| FEDERAL HOME LOAN BANKS 1.875% 11/29/2021 | 0.08% | 375,000 |
| FEDERAL HOME LOAN BANKS 2.625% 12/10/2021 | 0.08% | 365,000 |
| CSC HLDGS INC 5.75% 01/15/2030 | 0.08% | 350,000 |
| IHEARTCOMMUNICATIONS INC 6.375% 05/01/2026 | 0.08% | 350,000 |
| TEMPUR SEALY INTL INC 5.5% 06/15/2026 | 0.08% | 350,000 |
| UNITED STATES TREAS NTS 2.25% 11/15/2025 | 0.08% | 340,000 |
| TENNESSEE VALLEY AUTH 6.75% 11/01/2025 | 0.08% | 300,000 |
| FEDERAL HOME LOAN BANKS 3% 10/12/2021 | 0.07% | 315,000 |
| FEDERAL NATL MTG ASSN 1.375% 10/07/2021 | 0.07% | 310,000 |
| UNITED STATES TREAS NTS 1.625% 05/15/2026 | 0.07% | 310,000 |
| POST HLDGS INC 5.625% 01/15/2028 | 0.07% | 290,000 |
| FEDERAL NATL MTG ASSN 6.625% 11/15/2030 | 0.07% | 230,000 |
| FEDERAL NATL MTG ASSN 7.25% 05/15/2030 | 0.07% | 220,000 |
| FEDERAL HOME LN BKS 5.5% 07/15/2036 | 0.07% | 220,000 |
| FEDERAL NATL MTG ASSN 2.625% 01/11/2022 | 0.06% | 260,000 |
| H & E EQUIPMENT SERVICES INC SR GLBL NT 25 5.625% 09/01/2025 | 0.06% | 260,000 |
| FEDERAL NATL MTG ASSN 2% 01/05/2022 | 0.06% | 260,000 |
| SIX FLAGS ENTMT CORP NEW 5.5% 04/15/2027 | 0.06% | 260,000 |
| FEDERAL HOME LN MTG CORP 2.375% 01/13/2022 | 0.06% | 255,000 |
| NUSTAR LOGISTICS L P 5.625% 04/28/2027 | 0.06% | 250,000 |
| FEDERAL HOME LN MTG CORP 6.75% 03/15/2031 | 0.06% | 200,000 |
| FEDERAL NATL MTG ASSN 5.625% 07/15/2037 | 0.06% | 200,000 |
| FEDERAL NATL MTG ASSN 2.5% 04/13/2021 | 0.05% | 245,000 |
| FEDERAL HOME LOAN BANKS 2.5% 03/11/2022 | 0.05% | 245,000 |
| FEDERAL HOME LOAN BANKS 2.25% 03/11/2022 | 0.05% | 240,000 |
| HOWARD HUGHES CORP 5.375% 03/15/2025 | 0.05% | 220,000 |
| TAYLOR MORRISON CMNTYS INC 5.875% 06/15/2027 | 0.05% | 200,000 |
| NUANCE COMMUNICATIONS INC 5.625% 12/15/2026 | 0.05% | 195,000 |
| FEDERAL HOME LN MTG CORP 6.75% 09/15/2029 | 0.05% | 150,000 |
| TENNESSEE VALLEY AUTH 2.875% 09/15/2024 | 0.04% | 180,000 |
| FEDERAL HOME LOAN BANKS 2.125% 06/10/2022 | 0.04% | 175,000 |
| GRAY TELEVISION INC 5.875% 07/15/2026 | 0.04% | 155,000 |
| FEDERAL NATL MTG ASSN 6.25% 05/15/2029 | 0.04% | 150,000 |
| TENNESSEE VALLEY AUTH 3.5% 12/15/2042 | 0.04% | 150,000 |
| NEXSTAR ESCROW INC 5.625% 07/15/2027 | 0.04% | 150,000 |
| FEDERAL HOME LOAN BANKS 2% 09/09/2022 | 0.03% | 150,000 |
| FEDERAL NATL MTG ASSN 1.875% 04/05/2022 | 0.03% | 130,000 |
| FEDERAL NATL MTG ASSN 1.375% 09/06/2022 | 0.03% | 130,000 |
| FEDERAL NATL MTG ASSN 2.25% 04/12/2022 | 0.03% | 125,000 |
| NETFLIX INC 6.375% 05/15/2029 | 0.03% | 100,000 |
| FEDERAL NATL MTG ASSN 2% 10/05/2022 | 0.02% | 110,000 |
| FEDERAL NATL MTG ASSN 2.375% 01/19/2023 | 0.02% | 110,000 |
| L BRANDS INC 6.875% 11/01/2035 | 0.02% | 110,000 |
| MASONITE INTL CORP NEW 5.375% 02/01/2028 | 0.02% | 100,000 |
| FEDERAL HOME LOAN BANKS 3.25% 06/09/2028 | 0.02% | 100,000 |
| ALLISON TRANSMISSION INC 5.875% 06/01/2029 | 0.02% | 100,000 |
| STERICYCLE INC 5.375% 07/15/2024 | 0.02% | 100,000 |
| VISTRA OPERATIONS CO LLC 5.5% 09/01/2026 | 0.02% | 100,000 |
| BERRY GLOBAL INC 4.5% 02/15/2026 | 0.02% | 80,000 |
| FEDERAL NATL MTG ASSN 1.25% 05/06/2021 | 0.02% | 75,000 |
| FEDERAL NATL MTG ASSN 2.75% 06/22/2021 | 0.01% | 60,000 |
| FEDERAL HOME LOAN BANKS 2.125% 06/09/2023 | 0.01% | 50,000 |
| FEDERAL HOME LN MTG CORP 2.75% 06/19/2023 | 0.01% | 50,000 |
| UNITED STATES TREAS NTS 2.75% 08/31/2025 | 0.01% | 50,000 |
Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. To obtain a prospectus download one here or call 800-617-0004. Please read it carefully before investing.
Investing involves risk, including the risk of loss of principal. VBND has the same risks as the underlying securities traded on the exchange throughout the day at market price. Redemptions are limited and often commissions are charged on each trade. VBND may invest in illiquid or thinly traded securities which involve additional risks such as limited liquidity and greater volatility. VBND may make investments in debt securities. The Fund’s investments in high yield securities expose it to a substantial degree of credit risk. These investments are considered speculative under traditional investment standards. Debt issuers and other counterparties may not honor their obligations or may have their debt downgraded by ratings agencies. An increase in interest rates may cause the value of fixed-income securities held by the Fund to decline. During periods of rising interest rates, certain debt obligations will be paid off substantially more slowly than originally anticipated and the value of those securities may fall sharply, resulting in a decline in the Fund’s income and potentially in the value of the Fund’s investments. VBND may also invest in asset backed and mortgage backed securities which include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund invests in the securities included in, or representative of its Index regardless of their investment merits. The performance of the Fund may diverge from the Index. Because the Fund employs a representative sampling strategy and may also invest up to 20% of its assets in securities that are not included in the Index, the Fund may experience a tracking error to a greater extent than a fund that seeks to replicate an index. The Fund is not actively managed and its performance may be adversely affected by a general decline in the market segments relating to its Index.
The fund’s investment advisor is Vident Advisory, LLC. VBND's sub-adviser is Vident Investment Advisory (VIA). Vident Financial owns the index that underlies the fund. The Vident Core U.S. Bond Strategy ETF is distributed by ALPS Distributors, LLC. ALPS is not affiliated with Vident Financial, Vident Advisory or VIA.
Investor shares are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Ordinary brokerage commissions may apply.
Diversification does not ensure a profit or protect against a loss.