iBoxx HY Snapshot

Research evidence excerpt

iBoxx HY Snapshot

iBoxx IG Snapshot CreditPhilipDerivativeDobrinovStrategy

+1 212 723 2118

29-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 347.46 91.65 5.57 425 3105 - - Basic Materials 1.5% 121 92.70 2.3% AAA 0.4%

1W 346.10 88.48 5.61 425 3105 0.39% 0.06% Consumer Goods 8.8% 97 94.56 1.3% AA 0.4%

1M 343.95 85.03 5.64 423 3078 1.02% 0.39% Consumer Services 11.0% 114 89.61 0.8% A 1.0%

3M 338.55 101.54 5.72 423 3062 2.63% 1.72% Financials 24.7% 101 93.16 0.8% BBB 1.6%

6M 344.19 88.35 5.34 424 3017 0.95% 2.23% Health Care 14.5% 89 92.10 1.5%

1Y 332.27 95.87 5.47 418 2922 4.57% 4.78% Industrials 7.2% 85 93.05 1.6%

YTD 343.41 89.10 5.38 424 3017 1.18% 2.16% Oil & Gas 7.9% 103 95.88 2.2%

Technology 16.9% 113 90.22 0.7%

Cash vs CDX Basis (bps) Telecommunications 2.8% 128 90.45 1.2%

CDX Cash Basis 6M Min 6M Max 6M Z Score 6M Percentile Utilities 5.2% 110 94.03 1.6%

5Y 51.21 91.65 -40.44 -49.23 -31.45 -0.83 16%

10Y 91.13 91.65 -0.52 -10.31 7.97 -0.59 20% 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 6%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 5%

40% Consumer Goods 4%

100 Consumer Services

Core Financials 3%

30% 80 Health Care 2%

Industrials