Asset Allocation

As of December 31, 2025.
Type % Net
Cash 0.20%
Stock 0.00%
Bond 97.61%
Convertible 0.00%
Preferred 0.00%
Other 2.19%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 0.00%
Corporate 0.20%
Securitized 1.08%
Municipal 98.36%
Other 0.37%
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Region Exposure

% Developed Markets: 97.02%    % Emerging Markets: 0.00%    % Unidentified Markets: 2.98%

Americas 96.67%
94.29%
United States 94.29%
2.38%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 0.00%
United Kingdom 0.00%
0.00%
0.00%
0.00%
Greater Asia 0.35%
Japan 0.00%
0.00%
0.35%
0.00%
Unidentified Region 2.98%

Bond Credit Quality Exposure

AAA 3.80%
AA 15.41%
A 10.90%
BBB 14.05%
BB 12.13%
B 1.43%
Below B 0.30%
    CCC 0.30%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 4.68%
Not Available 37.31%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
0.94%
Less than 1 Year
0.94%
Intermediate
16.11%
1 to 3 Years
1.77%
3 to 5 Years
3.02%
5 to 10 Years
11.32%
Long Term
82.95%
10 to 20 Years
30.65%
20 to 30 Years
43.01%
Over 30 Years
9.29%
Other
0.00%
As of December 31, 2025
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