Benchmark Morningstar Category
High Yield Muni

Asset Allocation

 

ETHYX

 
  Type %
Net
%
Short
%
Long
Bench-
mark
Cat
Avg
As of 04/30/2015
Cash 3.90 3.90 1.84
US Stock 0.00 0.00 0.08
Non US Stock 0.00 0.00 0.00
Bond 96.10 96.10 98.06
Other 0.00 0.00 0.03
 

Style Details

 

ETHYX

Fixed-Income Style
 
Fixed-Income Style History
Year Style % Bonds
As of 03/31/2015
2015 96.10
2014 96.02
2013 96.79
2012 97.93
2011 96.96
 
Bond Statistics
Detail Value
As of 03/31/2015, *As of 04/30/2015
Average Effective Duration (Years)* 6.10
Average Effective Maturity (Years)* 7.67
Average Credit Quality BBB
Average Weighted Coupon* 5.13
Average Weighted Price* 105.10
Credit Quality
Type % Bonds Benchmark Category Avg Bond Weight Benchmark Weight Category Avg Weight
AAA 1.36 2.98
AA 27.42 13.55
A 21.12 16.58
BBB 26.87 24.84
BB 6.65 8.91
B 2.59 9.50
Below B 0.88 1.32
Not Rated 13.11 22.32
As of 03/31/2015
Credit Quality is calculated only using the long position holdings of the portfolio.

Sector Weightings

 

ETHYX

Fixed-Income Sectors
Type % Bonds Benchmark Category Avg Fund Weight Benchmark Weight Category Avg Weight
Municipal 94.59 97.78
State and Local General Obligation 11.54 11.00
Advance Refunded 1.03 3.53
Tobacco 0.00 8.32
Education 11.20 9.16
Health 25.57 20.95
Housing 1.48 2.36
Industrial 16.96 18.15
Transportation 16.23 14.04
Utilities 4.71 4.79
Water & Sewer 5.81 4.90
Miscellaneous Revenue 0.08 0.57
       
Cash & Equivalents 3.90 2.16
       
Other 1.51 0.06
As of 04/30/2015
Sector data is calculated only using the rescaled long position holdings of the portfolio.
Coupon Range
Type % Bonds Benchmark Category Avg   Fund Weight Benchmark Weight Category Avg Weight
0% 8.06 2.62
0% to 4% 12.67 5.54
4% to 6% 66.68 51.88
6% to 8% 9.51 35.91
8% to 10% 0.93 3.81
10% to 12% 0.66 0.05
More than 12% 1.50 0.20
As of 04/30/2015
Sector data is calculated only using the long position holdings of the portfolio.

Top 10 Country Breakdown

 

ETHYX

% Bonds Benchmark Category Avg Fund Weight Benchmark Weight Category Avg Weight
United States 100.00 100.00
As of 04/30/2015
Country breakdown data is calculated only using the long position holdings of the portfolio.

Bond Maturity Breakdown

 

ETHYX

% Bonds Benchmark Category Avg Fund Weight Benchmark Weight Category Avg Weight
1 to 3 Years 1.30 0.96
3 to 5 Years 1.90 2.27
5 to 7 Years 1.58 2.05
7 to 10 Years 4.64 6.32
10 to 15 Years 11.68 12.27
15 to 20 Years 31.66 12.73
20 to 30 Years 44.62 44.67
Over 30 Years 2.61 18.73
As of 04/30/2015

Certain information included herein is derived by Morningstar in part from MSCI’s Index Constituents (the “Index Data”). However, MSCI has not reviewed any information contained herein and does not endorse or express any opinion such information or analysis. Neither MSCI nor any third party involved in or related to the computing or compiling of the Index Data makes any express or implied warranties, representations or guarantees concerning the Index Data or any information or data derived therefrom, and in no event will MSCI or any third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any use of this information. None of the Index Data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. All Index Data and any information derived therefrom is for your internal use only and may not be further redistributed or used to create any financial instruments or products or indices.