Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.
U.S. Treasurys represented by the Barclays U.S. Treasury Index, which measures the performance of U.S. Treasury bonds and notes that have at least one year to maturity.
International developed — The Citigroup Non-U.S. World Government Bond Index is a market capitalization–weighted benchmark that tracks the performance of the 22 government bond markets of Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Malaysia, Mexico, the Netherlands, Norway, Poland, Singapore, South Africa, Spain, Sweden, Switzerland, and the United Kingdom.
Commercial mortgage-backed securities (CMBS) — The Barclays CMBS ERISA-Eligible Index measures the market of commercial mortgage-backed securities (CMBS) deals with a minimum current deal size of $300 million, and includes investment grade securities that are ERISA-eligible under the underwriter’s exemption.
U.S. mortgage-backed securities (MBS) — The Barclays U.S. MBS Index measures the performance of agency mortgage-backed pass-through securities (both fixed-rate and hybrid ARM) issued by Ginnie Mae (GNMA), Fannie Mae (FNMA), and Freddie Mac (FHLMC).
Investment grade corporate — The Barclays U.S. Corporate Investment Grade Index is composed of U.S. dollar–denominated, investment grade, SEC-registered corporate bonds issued by industrial, utility, and financial companies. All bonds in the index have at least one year to maturity.
Emerging markets — The J.P. Morgan EMBI Global Diversified Index tracks total returns for U.S. dollar–denominated debt instruments issued by emerging market sovereign entities including Brady bonds, Eurobonds, and quasi-sovereign entities, while limiting exposure to any one country.
High yield corporate — The Barclays U.S. Corporate High-Yield Index is composed of U.S. dollar–denominated, noninvestment grade corporate bonds for which the middle rating among Moody’s Investors Service, Inc., Fitch, Inc., and Standard & Poor’s is Ba1/BB+/BB+ or below.