iBoxx HY Snapshot

研报英文原文证据摘录

iBoxx HY Snapshot

2 7 9 10 11 18 23 25 26 27

iBoxx HY Snapshot CreditPhilipDerivativeDobrinovStrategy

+1 212 723 2118

23-Jul-26

iBoxx HY CDX HY (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 400.46 279.51 7.37 452 1323 - - Basic Materials 5.9% 309 93.91 2.0% BB 1.8%

1W 401.60 281.51 7.26 452 1323 -0.28% -0.15% Consumer Goods 6.0% 131 96.26 1.8% B 2.4%

1M 400.14 272.78 7.20 452 1319 0.08% 0.34% Consumer Services 32.5% 531 90.58 1.1% CCC 0.8%

3M 398.76 292.49 7.00 446 1310 0.43% 1.48% Financials 8.9% 213 94.81 1.4% CC -39.4%

6M 396.29 278.82 6.73 446 1330 1.05% 2.41% Health Care 14.0% 295 92.59 2.8% C 0.0%

1Y 380.88 296.42 7.10 428 1242 5.14% 7.36% Industrials 12.7% 165 95.74 0.8%

YTD 393.50 301.70 6.84 444 1323 1.77% 3.24% Oil & Gas 6.7% 127 97.76 4.3%

Technology 5.6% 160 95.40 1.0%

Cash vs CDX Basis (bps) Telecommunications 4.5% 1198 81.15 0.9%

CDX Cash Basis 6M Min 6M Max 6M Z Score 6M Percentile Utilities 3.1% 92 96.77 2.6%

5Y 308.55 279.51 29.05 1.78 58.10 0.21 61%

1Y

CDX- Cash Basis

8.0 iBoxx HY Yield and Duration 3.5 450 iBoxx HY OAS vs CDX HY Spread 60

7.0 3.3 400 50

6.0 350 40

3.1

5.0 300 30

2.9

4.0 Yield (LHS) 250 20

Duration (RHS) 2.7 10 3.0 200

Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 0

2.0 2.5 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26

Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 CDX HY iBoxx HY

60% HY Composite Rating Distribution

HY Avg Sector OAS by Rating 9% CDX HY vs iBoxx HY vs iBoxx HY Rate Hedged Total Returns 7000 8%

50% Basic Materials 7%

6000 Consumer Goods 6%

40% Consumer Services 5% 5000

Core Financials 4%

30% 4000 Health Care 3%

Industrials 2%

20% 3000 Oil & Gas 1%

Technology 0% 2000 10% Telecommunications -1%

1000 Utilities -2%