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

31-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 399.75 294.25 7.47 452 1323 - - Basic Materials 5.9% 296 93.72 1.9% BB 1.6%

1W 398.80 288.18 7.50 452 1323 0.24% 0.24% Consumer Goods 6.0% 137 96.27 1.9% B 2.3%

1M 400.76 282.28 7.21 452 1319 -0.25% 0.16% Consumer Services 32.5% 562 90.30 0.8% CCC 0.3%

3M 397.97 290.33 7.10 446 1310 0.45% 1.45% Financials 8.9% 220 94.73 1.4% CC -41.0%

6M 395.36 289.95 6.80 446 1330 1.11% 2.54% Health Care 13.9% 294 92.64 2.8% C 0.0%

1Y 380.03 322.35 7.18 432 1261 5.19% 8.16% Industrials 12.8% 170 95.61 0.8%

YTD 393.50 301.70 6.84 444 1323 1.59% 3.18% Oil & Gas 6.7% 135 97.55 4.0%

Technology 5.7% 167 95.36 0.6%

Cash vs CDX Basis (bps) Telecommunications 4.5% 1284 80.04 0.2%

CDX Cash Basis 6M Min 6M Max 6M Z Score 6M Percentile Utilities 3.1% 103 96.65 2.4%

5Y 313.62 294.25 19.36 1.78 58.10 -0.57 24%

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

Aug-25 Oct-25 Dec-25 Feb-26 Apr-26 Jun-26 0

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

Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-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 8000 8% 50% Basic Materials 7% 7000

Consumer Goods 6%

40% 6000 Consumer Services 5%

5000 Core Financials 4%

30% Health Care 3% 4000

Industrials 2%

20% 3000 Oil & Gas 1%

2000 Technology 0%

10% 1000 Telecommunications -1%

Utilities -2% 0 0%