iBoxx HY Snapshot

Research evidence excerpt

iBoxx HY Snapshot

iBoxx IG Snapshot CreditPhilipDerivativeDobrinovStrategy

+1 212 723 2118

22-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 346.10 88.48 5.61 425 3105 - - Basic Materials 1.5% 115 92.59 2.0% AAA 0.1%

1W 345.95 86.46 5.60 425 3105 0.04% 0.11% Consumer Goods 8.8% 95 94.20 0.8% AA 0.2%

1M 340.38 86.27 5.76 423 3078 1.68% 0.51% Consumer Services 11.0% 111 89.33 0.3% A 0.6%

3M 341.22 103.64 5.61 423 3062 1.43% 1.67% Financials 24.7% 98 92.87 0.4% BBB 1.2%

6M 343.49 91.31 5.35 424 3017 0.76% 2.30% Health Care 14.5% 87 91.74 1.0%

1Y 327.82 97.13 5.62 418 2922 5.58% 5.11% Industrials 7.2% 83 92.69 1.2%

YTD 343.41 89.10 5.38 424 3017 0.78% 2.10% Oil & Gas 7.9% 99 95.61 1.8%

Technology 17.0% 108 90.12 0.6%

Cash vs CDX Basis (bps) Telecommunications 2.8% 123 90.35 0.9%

CDX Cash Basis 6M Min 6M Max 6M Z Score 6M Percentile Utilities 5.2% 108 93.63 1.1%

5Y 50.29 88.48 -38.19 -49.23 -31.45 -0.14 37%

10Y 90.18 88.48 1.70 -10.31 7.97 0.08 54% 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-26 Jun-25 Aug-25 Oct-25 Dec-25 Feb-26 Apr-26 Jun-26

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

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

120 Basic Materials 6%

Consumer Goods40%

Consumer Services 5% 100

Core Financials 4%

30% 80 Health Care

Industrials 3%

60 Oil & Gas