iBoxx HY Snapshot

Research evidence excerpt

iBoxx HY Snapshot

iBoxx IG Snapshot CreditPhilipDerivativeDobrinovStrategy

+1 212 723 2118

16-Jun-26

iBoxx IG CDX IG (5Y) Total

Sector Sector Weights Avg OAS (bp) Avg Price YTD TR

NAV OAS (bp) Yield # of Issuers # of Bonds Total Return Return Rating YTD TR

Current 345.88 85.64 5.61 425 3105 - - Basic Materials 1.5% 111 92.67 2.0% AAA -0.2%

1W 342.86 86.29 5.71 425 3105 0.88% 0.18% Consumer Goods 8.8% 93 94.19 0.7% AA 0.1%

1M 340.66 85.51 5.74 423 3078 1.53% 0.55% Consumer Services 11.0% 107 89.41 0.4% A 0.5%

3M 339.26 108.15 5.67 423 3062 1.95% 1.77% Financials 24.7% 95 92.84 0.3% BBB 1.1%

6M 341.87 90.55 5.41 424 3017 1.17% 2.33% Health Care 14.5% 85 91.62 0.9%

1Y 327.64 97.61 5.63 418 2922 5.57% 5.13% Industrials 7.2% 80 92.63 1.0%

YTD 343.41 89.10 5.38 424 3017 0.72% 2.09% Oil & Gas 8.0% 96 95.65 1.7%

Technology 17.0% 104 90.14 0.6%

Cash vs CDX Basis (bps) Telecommunications 2.8% 120 90.25 0.9%

CDX Cash Basis 6M Min 6M Max 6M Z Score 6M Percentile Utilities 5.2% 105 93.52 0.9%

5Y 49.84 85.64 -35.80 -49.23 -31.45 0.61 72%

10Y 89.80 85.64 4.16 -10.31 7.97 0.82 80% 20

6.5 0.00 0.00 0.00 0.00 8.60.00 120 0.00 0.00 CDX- Cash Basis

iBoxx IG Yield and Duration iBoxx IG OAS vs CDX IG Spread 10

6.0

8.5 100 0

5.5

80 -10 5.0 8.4

4.5 60 -20

8.3

4.0 -30 40

3.5 8.2 -40

3.0 Yield (LHS) 20 -50 5Y Basis 10Y Basis 8.1

2.5 Duration (RHS) 0 -60

2.0 8.0 Jun-25 Aug-25 Oct-25 Dec-25 Feb-26 Apr-26 Jun-25 Aug-25 Oct-25 Dec-25 Feb-26 Apr-26

iBoxx IG CDX IG 5Y CDX IG 10Y Jun-25 Aug-25 Oct-25 Dec-25 Feb-26 Apr-26

140 8%50% CDX IG vs iBoxx IG vs iBoxx IG Rate Hedged Total Returns IG Avg Sector OAS by Rating IG Composite Rating Distribution 7% 120 Basic Materials

40% Consumer Goods 6%

100 Consumer Services 5%

Core Financials

30% 80 Health Care 4%

Industrials 3%

60 Oil & Gas 2%20%

Technology