|Benchmark (%) On 7/1/2016, SHV began to track the ICE U.S. Treasury Short Bond Index. Historical index data prior to 7/1/2016 is for the Barclays U.S. Short Treasury Bond Index; index data on or after 7/1/2016 is for the ICE U.S. Treasury Short Bond Index.||0.54||0.25||0.21||-||0.98|
|After Tax Pre-Liq. (%) Return after taxes on distributions. Assumes fund shares have not been sold.||0.28||0.09||0.06||-||0.61|
|After Tax Post-Liq. (%) Return after taxes on distributions and sale of fund shares.||0.24||0.08||0.06||-||0.58|
|Benchmark (%) On 7/1/2016, SHV began to track the ICE U.S. Treasury Short Bond Index. Historical index data prior to 7/1/2016 is for the Barclays U.S. Short Treasury Bond Index; index data on or after 7/1/2016 is for the ICE U.S. Treasury Short Bond Index.||0.54||0.05||0.09||0.19||0.54||0.76||1.05||-||10.28|
|After Tax Pre-Liq. (%) Return after taxes on distributions. Assumes fund shares have not been sold.||0.28||0.01||0.00||0.02||0.28||0.26||0.30||-||6.28|
|After Tax Post-Liq. (%) Return after taxes on distributions and sale of fund shares.||0.24||0.03||0.04||0.07||0.24||0.25||0.28||-||5.90|
|Benchmark (%) On 7/1/2016, SHV began to track the ICE U.S. Treasury Short Bond Index. Historical index data prior to 7/1/2016 is for the Barclays U.S. Short Treasury Bond Index; index data on or after 7/1/2016 is for the ICE U.S. Treasury Short Bond Index.||0.15||0.14||0.09||0.13||0.54|
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.
|UNITED STATES TREASURY||94.54|
|ISIN||Name||Sector||SEDOL||Market Value||Weight (%)||Price||Maturity||Coupon (%)||Duration||Notional Value||YTM (%)||Yield to Call (%)||Yield to Worst (%)||Par Value|
|US912828SY71||TREASURY NOTE||Treasuries||BWFGPQ7||$710,472,521||16.94||100.00||May 31, 2017||0.63||0.37||710,472,520.73||0.62||-||0.62||709,887,000.00|
|US912828PF10||TREASURY NOTE||Treasuries||B5VSSF8||$359,179,951||8.57||100.86||Oct 31, 2017||1.88||0.78||359,179,950.68||0.77||-||0.77||354,698,000.00|
|US912828SM34||TREASURY NOTE||Treasuries||B7ZN2G2||$346,079,848||8.25||100.10||Mar 31, 2017||1.00||0.20||346,079,848.27||0.49||-||0.49||344,694,000.00|
|US912828D986||TREASURY NOTE||Treasuries||BQQPW04||$271,141,860||6.47||100.19||Sep 15, 2017||1.00||0.66||271,141,859.56||0.71||-||0.71||269,712,000.00|
|US912828NW60||TREASURY NOTE||Treasuries||B4W9HT0||$243,693,889||5.81||100.72||Aug 31, 2017||1.88||0.61||243,693,888.70||0.70||-||0.70||240,237,000.00|
|US912828NG11||TREASURY NOTE||Treasuries||B51WP93||$198,926,869||4.74||100.77||May 31, 2017||2.75||0.37||198,926,868.70||0.66||-||0.66||196,707,000.00|
|US912828SJ05||TREASURY NOTE||Treasuries||B73T5C9||$177,147,658||4.22||100.05||Feb 28, 2017||0.88||0.11||177,147,657.72||0.47||-||0.47||176,472,000.00|
|US912828NR75||TREASURY NOTE||Treasuries||B58DZF5||$156,757,195||3.74||100.90||Jul 31, 2017||2.38||0.53||156,757,194.75||0.69||-||0.69||153,684,000.00|
|US912828SS04||TREASURY NOTE||Treasuries||B7Y24G4||$145,233,439||3.46||100.10||Apr 30, 2017||0.88||0.28||145,233,439.04||0.51||-||0.51||144,812,000.00|
|US912828F544||TREASURY NOTE||Treasuries||BRJ6VB5||$134,686,421||3.21||100.09||Oct 15, 2017||0.88||0.74||134,686,421.04||0.75||-||0.75||134,257,000.00|
|Name||Asset Class||Weight (%)||Price||Market Value||Notional Value||Sector||SEDOL||ISIN||Coupon (%)||Maturity||YTM (%)||Yield to Call (%)||Yield to Worst (%)||Duration||Par Value|
% of Market Value
% of Market Value
The calculator provides clients with an indication of an ETF's yield and duration for a given market price. The ACF Yield is the discount rate that equates the ETF's aggregate cash flows (i.e., the sum of the cash flows of the ETF's holdings) to a given ETF price. The cash flows are based on the yield to worst methodology in which a bond's cash flows are assumed to occur at the call date (if applicable) or maturity, whichever results in the lowest yield for that bond holding. For a given ETF price, this calculator will estimate the corresponding ACF Yield and spread to the relevant government reference security yield. Note that the ACF Yield will differ from the ETF's "Weighted Avg YTM For more information on Aggregate Cash Flow Yield, see info here. The Aggregate Cash Flow (“ACF”) Yield is the discount rate that equates the aggregate cash flows of the ETF's individual fund holdings (specifically the cash flows corresponding to the lower of the yield to call or yield to maturity of a given security) to a stated market price. In contrast, the weighted average yield to maturity is a market value weighted average of the yields of the ETF's individual holdings based on the prior day's net asset value. The ACF Yield allows an investor to compare the yield and spread for varying ETF market prices in order to help understand the impact of intraday market movements. The ACF of the ETF is the sum of the individual bond cash flows “to worst” (i.e. either to call or to maturity, whichever results in the lowest yield for the ETF). The ACF Yield does not make any adjustments based on the cost incurred to acquire an ETF or the impact of the ETF’s management fee.
|These figures are for Yield to Worst|
|Discount rate that equates the present value of the Aggregate Cash Flows using the yield to worst (i.e., the cash flows of the bond to the call date or maturity, whichever results in the lowest yield) for each individual bond holding. Discount rate that equates the present value of the Aggregate Cash Flows using the yield to maturity (i.e., the cash flows of the bond to the final maturity) of each individual bond holding.||0.69%|
|Modified Duration The modified duration of the "to worst" aggregate cash flows of the fund based on the ACF yield and ETF market price. Unlike Effective Duration, the Modified Duration metric does not account for projected changes in the bond cash flows due to a change in interest rates.||0.44 years|
Spread of ACF Yield (0.69%) over 0.5 yr Treasury Yield (0.62%) as of 01/18/17 is + 7 bps The difference of the calculated ACF Yield of the fund and the yield of the relevant U.S. Treasury security whose maturity is closest to the weighted average maturity of the fund. The spread value is updated as of the COB from previous trading day.
Results generated are for illustrative purposes only and are not representative of any specific investments outcome. For standardized performance, please click the ‘returns’ tab above.