Asset Allocation

As of December 31, 2025.
Type % Net
Cash 0.00%
Stock 0.00%
Bond 99.37%
Convertible 0.00%
Preferred 0.00%
Other 0.63%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 0.00%
Corporate 0.93%
Securitized 0.00%
Municipal 98.66%
Other 0.41%
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Region Exposure

% Developed Markets: 98.96%    % Emerging Markets: 0.00%    % Unidentified Markets: 1.04%

Americas 98.81%
90.34%
United States 90.34%
8.47%
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 0.15%
Japan 0.00%
0.00%
0.15%
0.00%
Unidentified Region 1.04%

Bond Credit Quality Exposure

AAA 0.00%
AA 0.00%
A 0.76%
BBB 11.56%
BB 9.58%
B 3.20%
Below B 6.52%
    CCC 3.74%
    CC 2.78%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 14.77%
Not Available 53.62%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
0.01%
Less than 1 Year
0.01%
Intermediate
9.98%
1 to 3 Years
1.23%
3 to 5 Years
3.55%
5 to 10 Years
5.20%
Long Term
89.60%
10 to 20 Years
22.36%
20 to 30 Years
45.60%
Over 30 Years
21.64%
Other
0.41%
As of December 31, 2025
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