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

24-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 398.80 288.18 7.50 452 1323 - - Basic Materials 5.9% 321 93.54 1.8% BB 1.4%

1W 401.58 281.04 7.26 452 1323 -0.69% -0.32% Consumer Goods 6.0% 142 95.86 1.3% B 1.9%

1M 399.84 278.65 7.23 452 1319 -0.26% 0.15% Consumer Services 32.5% 552 90.16 0.6% CCC 0.2%

3M 398.16 294.58 7.05 446 1310 0.16% 1.36% Financials 8.9% 222 94.47 1.0% CC -40.9%

6M 396.11 283.05 6.75 446 1330 0.68% 2.23% Health Care 14.0% 306 92.22 2.4% C 0.0%

1Y 380.94 298.63 7.10 428 1242 4.69% 7.01% Industrials 12.7% 173 95.46 0.5%

YTD 393.50 301.70 6.84 444 1323 1.35% 2.93% Oil & Gas 6.7% 134 97.50 4.0%

Technology 5.6% 167 95.11 0.5%

Cash vs CDX Basis (bps) Telecommunications 4.5% 1217 80.80 0.5%

CDX Cash Basis 6M Min 6M Max 6M Z Score 6M Percentile Utilities 3.1% 102 96.46 2.1%

5Y 315.97 288.18 27.79 1.78 58.10 0.11 56%

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 8% CDX HY vs iBoxx HY vs iBoxx HY Rate Hedged Total Returns 7000 7% 50% Basic Materials

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%

10% 2000 Telecommunications -1%

1000 Utilities -2%