Fixed Income

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

Record Date Ex-Date Payable Date
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Premium/Discount

  1y 3y 5y 10y Incept.
0.20 5.51 3.04 - 3.30
Market Price (%) -0.04 5.58 3.03 - 3.31
Benchmark (%) 0.52 5.81 3.30 4.06 3.65
After Tax Pre-Liq. (%) -0.81 4.38 1.94 - 2.27
After Tax Post-Liq. (%) 0.18 3.76 1.85 - 2.09
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-0.85 -0.78 -0.09 1.68 0.20 17.45 16.14 - 36.66
Market Price (%) -0.85 -0.96 -0.07 1.47 -0.04 17.69 16.07 - 36.88
Benchmark (%) -0.53 -0.77 -0.03 1.84 0.52 18.45 17.61 48.95 41.17
After Tax Pre-Liq. (%) -1.45 -0.85 -0.30 1.23 -0.81 13.73 10.10 - 24.17
After Tax Post-Liq. (%) -0.51 -0.46 -0.05 0.99 0.18 11.72 9.58 - 22.05
  2016 2017 2018 2019 2020
Total Return (%) 3.04 3.07 0.59 8.03 7.84
Market Price (%) 3.10 2.91 0.75 7.92 8.03
Benchmark (%) 3.32 3.35 0.78 8.29 8.11
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Net Assets of Fund as of Dec 01, 2021 $825,625,205
Fund Inception Feb 14, 2012
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index Bloomberg U.S. CMBS (ERISA Only) Index
Bloomberg Index Ticker LUCMTRUU
Shares Outstanding as of Dec 01, 2021 15,500,000
Distribution Frequency Monthly
Premium/Discount as of Dec 01, 2021 0.25%
CUSIP 46429B366
Closing Price as of Dec 01, 2021 53.40
30 Day Avg. Volume as of Dec 01, 2021 91,910.00
30 Day Median Bid/Ask Spread as of Dec 01, 2021 0.13%
Daily Volume as of Dec 01, 2021 100,995.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 01, 2021 705
Equity Beta (3y) as of Oct 31, 2021 0.03
30 Day SEC Yield as of Nov 30, 2021 2.26%
Average Yield to Maturity as of Nov 30, 2021 1.68%
Standard Deviation (3y) as of Oct 31, 2021 3.90%
12m Trailing Yield as of Nov 30, 2021 2.25%
Weighted Avg Coupon as of Nov 30, 2021 3.18%
Weighted Avg Maturity as of Nov 30, 2021 5.33 yrs
Effective Duration as of Nov 30, 2021 4.84 yrs
Convexity as of Nov 30, 2021 0.33
Option Adjusted Spread as of Nov 30, 2021 59.48
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, sustainability characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

Fees

Fees

as of current prospectus
Management Fee 0.25%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.25%

Ratings

Holdings

Holdings

as of Nov 30, 2021
Issuer Weight (%)
FHMS_K127-A2 0.94
FHMS-K091-A2 0.89
FHMS_K070-A2 0.74
FHMS_K087-A2 0.63
FHMS_K073-A2 0.59
Issuer Weight (%)
FNMA_20-M1-A2 0.58
FHMS_K110-A2 0.55
FHMS_K106-A1 0.54
UNITED STATES TREASURY 0.51
WFRBS_14-C22-A 0.51
Name Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL Price Location Exchange Currency Duration YTM (%) FX Rate Maturity Coupon (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency Accrual Date Effective Date
Holdings are subject to change.

The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Nov 30, 2021

% of Market Value

Type Fund
as of Nov 30, 2021

% of Market Value

Type Fund
The maturity breakdown above is based on Weighted Average Life (WAL). WAL is the average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

as of Nov 30, 2021

% of Market Value

Type Fund
Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security, the lower of the two ratings if only two agencies rate a security, and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.
Allocations are subject to change.

Literature

Literature

 

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