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FlexShares Credit-Scored US Corporate Bond Index Fund

Objective and Strategy

The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Credit-Scored US Corporate Bond IndexSM (Underlying Index).

Different, by Design

1. Identify a liquid universe of bonds with maturities from 2 to 10 years
2. Assess the current financial state of US issuers based on a proprietary credit score model
3. Optimize exposure to the credit score while maintaining market like duration and spread

Fund Facts

as of 10/16/2017
Inception11/12/2014
CUSIP33939L761
Total Net Assets$ 51,014,172.81
Shares Outstanding1,000,001
# of Holdings*346
Gross Expense Ratio.24%
Net Expense Ratio**.22%
Index ProviderNORTHERN TRUST
Primary ExchangeNASDAQ
MarginableN
Derivative UseN
*Cash positions and derivatives such as futures and currency forwards are not included in the number of holdings.

**Northern Trust Investments, Inc. ("NTI" or "Investment Adviser") has contractually agreed to reimburse the fees and expenses of the Trust’s independent trustees and their independent legal counsel until March 1, 2018.

Tickers

ETF TickerSKOR
Related IndexNTUCCB
NAVSKOR.NV
IOPVSKOR.IV
Shares OutstandingSKOR.SO
Estimated CashSKOR.EU
Total CashSKOR.TC

Quality Allocations

  • S&P
  • Moody's
as of 10/16/2017% of Total
AAA1.49
AA12.00
A37.63
BBB48.48
Unclassified.40
Total100.00
as of 10/16/2017% of Total
Aaa2.02
Aa10.64
A43.46
Baa42.34
Ba.67
Unclassified.87
Total100.00

Fund Characteristics1

as of 10/13/2017
SEC Subsidized Yield2 (as of 09/30/2017)2.40%
SEC Unsubsidized Yield3
 (as of 09/30/2017)
2.39%
Distribution Yield42.32%
12-Month Dividend Yield52.41%
Weighted Avg Price102.98
Weighted Avg Yield to Worst2.66
Weighted Avg Yield to Maturity2.66%
Weighted Avg Coupon3.36
Weighted Average Maturity5.59
Weighted Avg Effective Duration4.91
Weighted Avg Option Adjusted Spread64.74
View Standardized Performance

Maturity (%)

as of 10/13/2017
0 - 2 Years.32
2 - 3 Years14.49
3 - 5 Years32.58
5 - 7 Years20.99
7 - 10 Years30.63
10+ Years.99
Total100.00

SECTOR ALLOCATIONS

SUB-SECTOR ALLOCATIONS

COUNTRY ALLOCATIONS

.

Performance information presented on this website is historical, and is not indicative of future results. Investment returns and principal may vary, and at the time of sale an investment may be worth more or worth less than its original value. For most recent month end performance please call 1-855-353-9383 (1-855-FlexETF). All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 11/13/2014, when the fund first traded on NASDAQ. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. They do not represent the returns you would receive if you traded shares at other times. Index performance does not represent FlexShares fund performance. It is not possible to invest directly in an index.

Definitions

1Glossary contains definitions of widely used investment terms found on this page.
2SEC Subsidized Yield
The 30-Day SEC Subsidized Yield is computed under an SEC standardized formula based on net income earned over the past 30 days. It is a "subsidized" yield, which means it includes contractual expense reimbursements and it would be lower without those reimbursements. It may also include an inflation adjustment that can cause the yield to vary substantially from one month to the next.
3SEC Unsubsidized Yield
The 30-Day SEC Unsubsidized Yield calculation is also computed under the same SEC standardized formula based on net income earned over the past 30 days, but excludes contractual expense reimbursements, resulting in a lower yield. It may also include an inflation adjustment that can cause the yield to vary substantially from one month to the next.
4Distribution Yield
This yield is calculated by taking the most recent distribution annualized and dividing by the fund NAV from the as of date. For Funds that distribute monthly, an NA will be displayed if the fund has not distributed within the last 35 days.
512-Month Dividend Yield
This yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV.

Month End Performance (%)

as of 09/30/2017
 1 MonthQTDYTD1 YearSince Inception
11/12/2014
Market Price-.20.603.62.903.11
NAV-.321.043.581.083.11
Northern Trust Credit-Scored US Corporate Bond Index (NTUCCBTR)-.291.123.821.443.42
Barclays Capital Intermediate U.S. Corporate Index (LD06TRUU)-.231.053.751.843.16

Quarter End Performance (%)

as of 09/30/2017
 1 MonthQTDYTD1 YearSince Inception
11/12/2014
Market Price-.20.603.62.903.11
NAV-.321.043.581.083.11
Northern Trust Credit-Scored US Corporate Bond Index (NTUCCBTR)-.291.123.821.443.42
Barclays Capital Intermediate U.S. Corporate Index (LD06TRUU)-.231.053.751.843.16
Performance information presented on this website is historical, and is not indicative of future results. Investment returns and principal may vary, and at the time of sale an investment may be worth more or worth less than its original value. For most recent month end performance please call 1-855-353-9383 (1-855-FlexETF). All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 11/13/2014, when the fund first traded on NASDAQ. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. They do not represent the returns you would receive if you traded shares at other times. Index performance does not represent FlexShares fund performance. It is not possible to invest directly in an index.

Expense Ratios

as of 10/16/2017
Gross Expense Ratio.24%
Net Expense Ratio*.22%
*Northern Trust Investments, Inc. ("NTI" or "Investment Adviser") has contractually agreed to reimburse the fees and expenses of the Trust’s independent trustees and their independent legal counsel until March 1, 2018.


Definitions

  • Net Asset Value (NAV)
    NAV is a fund’s price per share, which is calculated by dividing the total value of all the securities in the fund’s portfolio plus cash, interest and receivables less any liabilities by the number of fund shares outstanding.
  • Market Price
    Because ETFs trade like stocks, ETF shares trade at market value on the secondary market, which can be a dollar value above (trading at a premium) or below (trading at a discount) the fund’s NAV.

Market Price

as of 10/16/2017
Price$51.22
Price $ Change$-.07
Price % Change-.14%
Avg Bid/Ask Spread$.20
Bid/Ask Midpoint$51.17
Closing Bid Price$51.12
Closing Ask Price$51.22

NAV Price

as of 10/16/2017
Price$51.01
Price $ Change$-.08
Price % Change-.16%

Trading

as of 10/16/2017
52-Week High$51.91
52-Week Low$49.57
Premium/Discount$.16
Daily Trading Volume (Shares)711
Average Trading Volume (Shares)2,908
Shares Outstanding1,000,001

TOP TEN HOLDINGS

as of 10/13/2017
NameFund
Weight
%
Shares HeldCouponMaturitySector/Type  Credit
  Rating
  (S&P)
JPMORGAN CHASE & CO1.39547000002.5503/01/2021Financials  A-
CITIGROUP INC1.20956000002.6510/26/2020Financials  BBB+
JPMORGAN CHASE & CO1.06475200003.3805/01/2023Financials  BBB+
GOLDMAN SACHS GROUP INC/THE1.02965000003.6301/22/2023Financials  BBB+
MORGAN STANLEY0.88044000005.7501/25/2021Financials  BBB+
BANK OF AMERICA CORP0.81524000003.3001/11/2023Financials  BBB+
GOLDMAN SACHS GROUP INC/THE0.80824000003.0004/26/2022Financials  BBB+
MORGAN STANLEY0.79934000002.6311/17/2021Financials  BBB+
SUMITOMO MITSUI FINANCIAL GROUP IN0.77964000002.0607/14/2021Financials  A-
PNC FUNDING CORP0.77893800003.3003/08/2022Financials  A-
BARCLAYS BANK PLC0.75443500005.1410/14/2020Financials  BBB-
VISA INC0.71253500002.8012/14/2022Consumer  A+
BANK OF AMERICA CORP0.69773500002.2504/21/2020Financials  BBB+
APPLE INC0.69713500002.2502/23/2021Technology, Telecomm & Media  AA+
BANK OF AMERICA CORP0.66973200004.2008/26/2024Financials  BBB
VERIZON COMMUNICATIONS INC0.63803000004.6004/01/2021Technology, Telecomm & Media  BBB+
GENERAL MOTORS FINANCIAL CO INC0.62923000004.3809/25/2021Industrial  BBB
BANK OF NEW YORK MELLON CORP/THE0.62823000003.6502/04/2024Financials  A
HSBC USA INC0.60453000002.7508/07/2020Financials  A
WESTPAC BANKING CORP0.60413000002.6011/23/2020Financials  AA-
SHELL INTERNATIONAL FINANCE BV0.54662750002.8805/10/2026Energy  A+
BANK OF AMERICA CORP0.52572550004.0001/22/2025Financials  BBB
JPMORGAN CHASE & CO0.52522500003.9007/15/2025Financials  A-
BANK OF AMERICA CORP0.52142500003.8808/01/2025Financials  BBB+
GOLDMAN SACHS GROUP INC/THE0.51582550003.5001/23/2025Financials  BBB+
CREDIT SUISSE GROUP FUNDING GUERNS0.51472500003.4504/16/2021Financials  BBB+
SUMITOMO MITSUI FINANCIAL GROUP IN0.51452500003.7803/09/2026Financials  A-
CREDIT SUISSE GROUP FUNDING (GUERN0.51412500003.8009/15/2022Financials  BBB+
ACTAVIS FUNDING SCS0.51292500003.8003/15/2025Consumer  BBB
CITIGROUP INC0.51002500003.5005/15/2023Financials  BBB
DISCOVER BANK0.50932500003.1006/04/2020Financials  BBB
ABBVIE INC0.50642500002.9011/06/2022Consumer  A-
BANK OF AMERICA CORP0.50422500003.1201/20/2023Financials  BBB+
ORACLE CORPORATION0.50392500002.5005/15/2022Technology, Telecomm & Media  AA-
WELLS FARGO & COMPANY0.50352500003.0701/24/2023Financials  A
NATIONAL AUSTRALIA BANK LTD0.50132500002.6307/23/2020Financials  AA-
AT&T INC0.50052500002.8002/17/2021Technology, Telecomm & Media  BBB+
MORGAN STANLEY0.50042500002.7505/19/2022Financials  BBB+
AT&T INC0.49912500002.4506/30/2020Technology, Telecomm & Media  BBB+
SVENSKA HANDELSBANKEN AB0.49572500002.4503/30/2021Financials  AA-
SKANDINAVISKA ENSKILDA BANKEN AB0.49572500002.3003/11/2020Financials  A+
AUSTRALIA AND NEW ZEALAND BANKING0.49542500002.3006/01/2021Financials  AA-
GOLDMAN SACHS GROUP INC/THE0.49362500002.3511/15/2021Financials  BBB+
ABBVIE INC0.49352400003.2011/06/2022Consumer  A-
JPMORGAN CHASE & CO0.48482500002.9510/01/2026Financials  A-
WELLS FARGO & CO0.48272250004.4801/16/2024Financials  A-
GILEAD SCIENCES INC0.46592250003.5002/01/2025Consumer  A
JPMORGAN CHASE & CO0.46072300003.1301/23/2025Financials  A-
APPLE INC0.45732300002.4005/03/2023Technology, Telecomm & Media  AA+
HSBC HOLDINGS PLC0.43892100004.0003/30/2022Financials  A
GOLDMAN SACHS GROUP INC/THE0.43892100004.0003/03/2024Financials  BBB+
JPMORGAN CHASE & CO0.43782200003.3004/01/2026Financials  A-
GENERAL MOTORS FINANCIAL CO INC0.43482000005.2503/01/2026Industrial  BBB
ENTERPRISE PRODUCTS OPERATING LLC0.42972000005.2009/01/2020Energy  BBB+
BP CAPITAL MARKETS PLC0.42162000004.5010/01/2020Energy  A-
HSBC HOLDINGS PLC0.41992000003.9005/25/2026Financials  A
AERCAP IRELAND CAPITAL LTD / AERCA0.41492000003.9502/01/2022Financials  BBB-
MORGAN STANLEY0.41482000003.8801/27/2026Financials  BBB+
MORGAN STANLEY0.41462000003.7502/25/2023Financials  BBB+
BP CAPITAL MARKETS PLC0.41432000003.2505/06/2022Energy  A-
MITSUBISHI UFJ FINANCIAL GROUP INC0.41332000003.8503/01/2026Financials  A
AMERICAN TOWER CORP0.41272000003.5001/31/2023Technology, Telecomm & Media  BBB-
CAPITAL ONE FINANCIAL CORP0.41222000003.5006/15/2023Financials  BBB
KRAFT HEINZ FOODS CO0.41182000003.5007/15/2022Consumer  BBB-
WELLS FARGO & COMPANY0.41182000003.5003/08/2022Financials  A
ALIBABA GROUP HOLDING LTD0.40732000003.1311/28/2021Consumer  A+
US BANCORP0.40682000002.9507/15/2022Financials  A-
WELLS FARGO & COMPANY0.40672000003.5509/29/2025Financials  A
AMERICA MOVIL SAB DE CV0.40662000003.1307/16/2022Technology, Telecomm & Media  A-
CITIGROUP INC0.40572000003.3004/27/2025Financials  BBB+
HOME DEPOT INC0.40532000002.6306/01/2022Consumer  A
LLOYDS BANKING GROUP PLC0.40472000003.1007/06/2021Financials  BBB+
CELGENE CORPORATION0.40372000002.8808/15/2020Consumer  BBB+
BAIDU INC0.40292000003.0006/30/2020Technology, Telecomm & Media  
CVS HEALTH CORP0.40282000002.8007/20/2020Consumer  BBB+
ING GROEP NV0.40272000003.1503/29/2022Financials  A-
MITSUBISHI UFJ FINANCIAL GROUP INC0.40202000002.9503/01/2021Financials  A
GE CAPITAL INTERNATIONAL FUNDING C0.40132000002.3411/15/2020Financials  AA-
GOLDMAN SACHS GROUP INC/THE0.40112000003.5011/16/2026Financials  BBB+
COMCAST CORPORATION0.40082000003.1503/01/2026Industrial  A-
ALIBABA GROUP HOLDING LTD0.40042000002.5011/28/2019Consumer  A+
MIZUHO FINANCIAL GROUP INC0.39922000002.9502/28/2022Financials  A-
BANK OF NOVA SCOTIA0.39872000002.7003/07/2022Financials  A+
BARCLAYS PLC0.39802000003.6503/16/2025Financials  BBB
BP CAPITAL MARKETS PLC0.39702000003.2809/19/2027Energy  A-
CITIGROUP INC0.39582000003.2010/21/2026Financials  BBB+
WESTPAC BANKING CORP0.39562000002.1503/06/2020Financials  AA-
BANK OF AMERICA CORP0.39512000002.5010/21/2022Financials  BBB+
APPLE INC0.39292000002.9009/12/2027Technology, Telecomm & Media  AA+
MIZUHO FINANCIAL GROUP INC0.39212000002.6009/11/2022Financials  A-
AMERICAN EXPRESS CREDIT CORPORATIO0.39041950002.6009/14/2020Financials  A-
AMERICAN INTERNATIONAL GROUP INC0.38921900003.3808/15/2020Financials  BBB+
ENTERPRISE PRODUCTS OPERATING LLC0.36611800003.3503/15/2023Energy  BBB+
EXELON CORP0.36421800002.8506/15/2020Energy  BBB-
TOYOTA MTR CRD CORP MTN BE0.36131700004.5006/17/2020Industrial  AA-
JPMORGAN CHASE & CO0.35871750003.7802/01/2028Financials  A-
OMNICOM GROUP INC.0.35771700004.4508/15/2020Industrial  BBB+
DOW CHEMICAL COMPANY (THE)0.34871650004.2511/15/2020Industrial  BBB
ACE INA HOLDINGS INC0.34231700003.1503/15/2025Financials  A
AMGEN INC0.34221700002.7005/01/2022Consumer  A
GOLDMAN SACHS GROUP INC/THE0.33521500005.7501/24/2022Financials  BBB+
KROGER CO.0.32461500006.1501/15/2020Consumer  BBB
CONSTELLATION BRANDS INC0.32321500004.2505/01/2023Consumer  BBB-
EXXON MOBIL CORP0.32201600002.7303/01/2023Energy  AA+
ALTRIA GROUP INC0.32171600002.8508/09/2022Consumer  A-
CITIGROUP INC0.32101500004.5001/14/2022Financials  BBB+
ONEOK PARTNERS LP0.32031500004.9003/15/2025Energy  BBB
HCP INC0.31921500004.2511/15/2023Financials  BBB
L 3 COMMUNICATIONS CORP0.31861500004.7507/15/2020Industrial  BBB-
BANK OF NEW YORK MELLON CORP/THE0.31791600002.3009/11/2019Financials  A
THERMO FISHER SCIENTIFIC INC0.31761500004.5003/01/2021Consumer  BBB
VERIZON COMMUNICATIONS INC0.31751580002.9503/15/2022Technology, Telecomm & Media  BBB+
REYNOLDS AMERICAN INC0.31671500004.0006/12/2022Consumer  BBB+
GILEAD SCIENCES INC0.31291500003.7004/01/2024Consumer  A
EXPRESS SCRIPTS HOLDING CO0.31201500003.9002/15/2022Consumer  BBB+
KINDER MORGAN ENERGY PARTNERS LP0.31061500003.9509/01/2022Energy  BBB-
SYNCHRONY FINANCIAL0.31061500004.2508/15/2024Financials  BBB-
CANADIAN NATURAL RESOURCES LTD0.30981500003.4511/15/2021Energy  BBB+
CHEVRON CORP0.30971500003.1906/24/2023Energy  AA-
MICROSOFT CORP0.30961500003.1311/03/2025Technology, Telecomm & Media  AAA
MICROSOFT CORPORATION0.30951500003.3002/06/2027Technology, Telecomm & Media  AAA
BANK OF AMERICA CORP0.30751500003.5004/19/2026Financials  BBB+
MITSUBISHI UFJ FINANCIAL GROUP INC0.30751500003.6802/22/2027Financials  A
AMGEN INC0.30691500003.4510/01/2020Consumer  A
APPLE INC0.30661500003.3502/09/2027Technology, Telecomm & Media  AA+
APPLE INC0.30551500003.2502/23/2026Technology, Telecomm & Media  AA+
MICROSOFT CORP0.30551500003.0010/01/2020Technology, Telecomm & Media  AAA
INTERCONTINENTAL EXCHANGE INC0.30471500002.7512/01/2020Financials  A
WELLS FARGO & COMPANY0.30461500003.5805/22/2028Financials  A
QUALCOMM INCORPORATED0.30391500003.2505/20/2027Technology, Telecomm & Media  A
TIME WARNER INC0.30371500003.8801/15/2026Industrial  BBB
INTEL CORPORATION0.30371500002.8805/11/2024Technology, Telecomm & Media  A+
BOSTON SCIENTIFIC CORPORATION0.30331500002.8505/15/2020Consumer  BBB-
CITIGROUP INC0.30311500003.4005/01/2026Financials  BBB+
PEPSICO INC0.30231500002.7503/01/2023Consumer  A+
EXPRESS SCRIPTS HOLDING CO0.30231500003.5006/15/2024Consumer  BBB+
ANHEUSER-BUSCH INBEV FINANCE INC0.30191500002.6502/01/2021Consumer  A-
GLAXOSMITHKLINE CAPITAL INC0.30141500002.8003/18/2023Consumer  A+
STATE STREET CORP0.30131500002.5508/18/2020Financials  A
APPLE INC0.30081500002.5002/09/2022Technology, Telecomm & Media  AA+
CHEVRON CORP0.30061500002.9505/16/2026Energy  AA-
ROYAL BANK OF CANADA0.30051500002.3510/30/2020Financials  AA-
ENBRIDGE INC0.30041500002.9007/15/2022Energy  BBB+
SUMITOMO MITSUI FINANCIAL GROUP IN0.30031500003.3607/12/2027Financials  A-
BECTON DICKINSON AND COMPANY0.29991500002.8906/06/2022Consumer  BBB+
SYSCO CORPORATION0.29981500002.6010/01/2020Consumer  BBB+
SOUTHERN COMPANY (THE)0.29791500003.2507/01/2026Energy  BBB+
COCA-COLA CO0.29771500001.8810/27/2020Consumer  AA-
CAPITAL ONE FINANCIAL CORPORATION0.29721500003.7507/28/2026Financials  BBB-
PFIZER INC0.29701500001.9506/03/2021Consumer  AA
ASTRAZENECA PLC0.29631500002.3806/12/2022Consumer  BBB+
CVS HEALTH CORP0.29541500002.1306/01/2021Consumer  BBB+
DEUTSCHE BANK AG (LONDON BRANCH)0.29431450003.7005/30/2024Financials  BBB-
WESTPAC BANKING CORP0.29381500002.8505/13/2026Financials  AA-
PLAINS ALL AMERICAN PIPELINE LP0.29351500003.6011/01/2024Energy  BBB-
AMERICAN EXPRESS COMPANY0.29011400003.6312/05/2024Financials  BBB
HCP INC0.28951450002.6302/01/2020Financials  BBB
MORGAN STANLEY0.28441450003.1307/27/2026Financials  BBB+
CONOCOPHILLIPS CO0.28061250004.9503/15/2026Energy  A-
MICROSOFT CORPORATION0.27941400002.7002/12/2025Technology, Telecomm & Media  AAA
LYB INTERNATIONAL FINANCE BV0.27381300004.0007/15/2023Industrial  BBB+
GENERAL MOTORS CO0.26791250004.8810/02/2023Industrial  BBB
BOSTON PROPERTIES LP0.26351200005.6311/15/2020Financials  A-
JPMORGAN CHASE & CO0.26251250004.1312/15/2026Financials  BBB+
HEWLETT-PACKARD CO0.26211250004.0509/15/2022Technology, Telecomm & Media  BBB
TOTAL CAPITAL CANADA LTD0.26191300002.7507/15/2023Energy  A+
MCDONALDS CORPORATION0.25721250003.3805/26/2025Consumer  BBB+
AUTOZONE INC0.25451250003.7506/01/2027Consumer  BBB
CITIGROUP INC0.25361200004.4006/10/2025Financials  BBB
SIMON PROPERTY GROUP LP0.25001200003.7502/01/2024Financials  A
AMERICAN HONDA FINANCE CORPORATION0.24951250002.4509/24/2020Industrial  A+
CITIGROUP INC0.24911250002.7003/30/2021Financials  BBB+
WAL-MART STORES INC0.24821000005.8804/05/2027Consumer  AA
EBAY INC.0.24301200003.4508/01/2024Consumer  BBB+
FIFTH THIRD BANCORP0.24211200002.8807/27/2020Financials  BBB+
AIR LEASE CORPORATION0.23701200002.1301/15/2020Financials  BBB
STRYKER CORPORATION0.23501150003.5003/15/2026Consumer  A
GOLDMAN SACHS GROUP INC0.23331100005.3803/15/2020Financials  BBB+
MERCK & CO INC0.22901150002.7502/10/2025Consumer  AA
KEYCORP0.21521000005.1003/24/2021Financials  BBB+
KINDER MORGAN ENERGY PARTNERS LP0.21291000005.3009/15/2020Energy  BBB-
DISCOVERY COMMUNICATIONS LLC0.21241000004.9003/11/2026Industrial  BBB-
21ST CENTURY FOX AMERICA INC0.21201000004.5002/15/2021Industrial  BBB+
TIME WARNER INC0.21131000004.0512/15/2023Industrial  BBB
INTEL CORP0.21111000003.7007/29/2025Technology, Telecomm & Media  A+
EI DU PONT DE NEMOURS & CO0.21031000004.2504/01/2021Industrial  A-
SIMON PROPERTY GROUP L.P.0.21031000004.3803/01/2021Financials  A
NOVARTIS CAPITAL CORP0.21021000003.4005/06/2024Consumer  AA-
MORGAN STANLEY0.21001000004.0007/23/2025Financials  BBB+
AFLAC INC0.20981000003.6306/15/2023Financials  A-
CATERPILLAR INC0.20961000003.4005/15/2024Industrial  A
WILLIAMS PARTNERS LP0.20941000004.1311/15/2020Energy  BBB
PEPSICO INC0.20941000003.6003/01/2024Consumer  A+
AMGEN INC0.20901000003.6305/22/2024Consumer  A
WELLTOWER INC0.20901000004.2504/01/2026Financials  BBB+
PRUDENTIAL FINANCIAL INC0.20861000003.5005/15/2024Financials  A
INTERNATIONAL BUSINESS MACHINES CO0.20851000003.6302/12/2024Technology, Telecomm & Media  A+
AETNA INC0.20841000003.5011/15/2024Consumer  A
REALTY INCOME CORP0.20821000004.1310/15/2026Financials  BBB+
REPUBLIC SERVICES INC0.20791000003.5506/01/2022Industrial  BBB+
BIOGEN INC0.20751000003.6309/15/2022Consumer  A-
ROPER TECHNOLOGIES INC0.20731000003.8012/15/2026Industrial  BBB
CVS HEALTH CORP0.20731000003.8807/20/2025Consumer  BBB+
FIDELITY NATIONAL INFORMATION SERV0.20721000003.5004/15/2023Technology, Telecomm & Media  BBB
NEXTERA ENERGY CAPITAL HOLDINGS IN0.20701000003.5505/01/2027Energy  BBB+
INTERNATIONAL BUSINESS MACHINES CO0.20661000003.3808/01/2023Technology, Telecomm & Media  A+
ENTERPRISE PRODUCTS OPERATING LLC0.20661000003.7502/15/2025Energy  BBB+
AON PLC0.20601000003.5006/14/2024Financials  A-
AMERICAN INTERNATIONAL GROUP INC0.20581000003.9004/01/2026Financials  BBB+
VIRGINIA ELECTRIC AND POWER COMPAN0.20581000003.5003/15/2027Energy  BBB+
CITIGROUP INC0.20541000003.8901/10/2028Financials  BBB+
CSX CORP0.20531000003.3511/01/2025Industrial  BBB+
INTERNATIONAL BUSINESS MACHINES CO0.20511000003.4502/19/2026Technology, Telecomm & Media  A+
UNION PACIFIC CORP0.20441000003.2508/15/2025Industrial  A
LOWES COMPANIES INC0.20431000003.3809/15/2025Consumer  A-
WELLPOINT INC0.20431000003.3001/15/2023Consumer  A
BURLINGTON NORTHERN SANTA FE LLC0.20381000003.0503/15/2022Industrial  A
APPLE INC0.20361000003.2005/11/2027Technology, Telecomm & Media  AA+
GOLDMAN SACHS GROUP INC/THE0.20341000003.8501/26/2027Financials  BBB+
NOVARTIS CAPITAL CORP0.20311000003.1005/17/2027Consumer  AA-
SIMON PROPERTY GROUP LP0.20291000003.3810/01/2024Financials  A
HEWLETT PACKARD ENTERPRISE CO0.2027950004.9010/15/2025Technology, Telecomm & Media  BBB
SHERWIN-WILLIAMS COMPANY (THE)0.20271000003.4506/01/2027Industrial  BBB
UNITEDHEALTH GROUP INC0.20231000002.7007/15/2020Consumer  A+
UNITEDHEALTH GROUP INCORPORATED0.20201000002.8803/15/2022Consumer  A+
DIAGEO CAPITAL PLC0.20191000002.6304/29/2023Consumer  A-
SIMON PROPERTY GROUP LP0.20181000003.3806/15/2027Financials  A
BLACKROCK INC0.20121000003.2003/15/2027Financials  AA-
INTEL CORPORATION0.20121000002.4507/29/2020Technology, Telecomm & Media  A+
CAPITAL ONE FINANCIAL CORPORATION0.20071000003.7503/09/2027Financials  BBB
UNITED TECHNOLOGIES CORPORATION0.20021000003.1305/04/2027Industrial  A-
UNITEDHEALTH GROUP INC0.20001000003.1003/15/2026Consumer  A+
ABBVIE INC0.20001000003.2005/14/2026Consumer  A-
WALT DISNEY CO0.19971000002.9506/15/2027Industrial  A+
CISCO SYSTEMS INC0.19971000002.9502/28/2026Technology, Telecomm & Media  AA-
PHILIP MORRIS INTERNATIONAL INC0.1993950003.6011/15/2023Consumer  A
EXXON MOBIL CORP0.19901000002.2203/01/2021Energy  AA+
DUKE ENERGY CAROLINAS LLC0.19891000002.9512/01/2026Energy  A
AIR LEASE CORPORATION0.19881000003.6304/01/2027Financials  BBB
UNILEVER CAPITAL CORP0.19841000002.9005/05/2027Consumer  A+
WALGREENS BOOTS ALLIANCE INC0.19791000003.4506/01/2026Consumer  BBB
MUFG AMERICAS HOLDINGS CORP0.19781000002.2502/10/2020Financials  A
SOUTHERN POWER COMPANY0.19751000001.9512/15/2019Energy  BBB+
CONOCOPHILLIPS CO0.19731000002.4012/15/2022Energy  A-
OCCIDENTAL PETROLEUM CORPORATION0.19721000003.0002/15/2027Energy  A
GILEAD SCIENCES INC0.19601000002.9503/01/2027Consumer  A
PACIFIC GAS & ELECTRIC CO0.19591000002.9503/01/2026Energy  A-
XEROX CORPORATION0.19571000003.6303/15/2023Technology, Telecomm & Media  BBB-
ERP OPERATING LP0.19561000002.8511/01/2026Financials  A-
ORACLE CORPORATION0.19551000001.9009/15/2021Technology, Telecomm & Media  AA-
ORACLE CORPORATION0.19521000002.6507/15/2026Technology, Telecomm & Media  AA-
VISA INC0.19501000002.7509/15/2027Consumer  A+
FIFTH THIRD BANCORP0.1949950003.5003/15/2022Financials  BBB+
BNP PARIBAS0.1948900005.0001/15/2021Financials  A
WAL-MART STORES INC0.1943900004.2504/15/2021Consumer  AA
PHILIP MORRIS INTERNATIONAL INC0.19431000002.7502/25/2026Consumer  A
FIDELITY NATIONAL INFORMATION SERV0.19241000003.0008/15/2026Technology, Telecomm & Media  BBB
MICROSOFT CORPORATION0.19231000002.4008/08/2026Technology, Telecomm & Media  AAA
BLACKROCK INC0.1918900005.0012/10/2019Financials  AA-
APPLE INC0.19171000002.4508/04/2026Technology, Telecomm & Media  AA+
DUKE ENERGY CORP0.19061000002.6509/01/2026Energy  BBB+
UNITED TECHNOLOGIES CORP0.1703800004.5004/15/2020Industrial  A-
TIME WARNER INC0.1703800004.7001/15/2021Industrial  BBB
TOTAL CAPITAL INTERNATIONAL SA0.1677800003.7504/10/2024Energy  A+
METLIFE INC0.1656800003.6004/10/2024Financials  A-
SEMPRA ENERGY0.1641800003.5506/15/2024Energy  BBB+
CBS CORP0.1633800003.7008/15/2024Industrial  BBB
FISERV INC0.1632800003.5010/01/2022Technology, Telecomm & Media  BBB
TIME WARNER INC0.1626800003.5506/01/2024Industrial  BBB
NORFOLK SOUTHERN CORPORATION0.1613800003.0004/01/2022Industrial  BBB+
TYSON FOODS INC0.1603740004.5006/15/2022Consumer  BBB
BB&T CORP0.1602800002.4501/15/2020Financials  A-
OCCIDENTAL PETROLEUM CORPORATION0.1594800002.7002/15/2023Energy  A
HONEYWELL INTERNATIONAL INC0.1571800001.8511/01/2021Industrial  A
MARRIOTT INTERNATIONAL INC0.1570800002.3001/15/2022Industrial  BBB
CELGENE CORPORATION0.1569750003.8808/15/2025Consumer  BBB+
QUALCOMM INCORPORATED0.1552750003.4505/20/2025Technology, Telecomm & Media  A
LOCKHEED MARTIN CORP0.1541750003.3509/15/2021Industrial  BBB+
PRAXAIR INC0.1529750003.2001/30/2026Industrial  A
APPLIED MATERIALS INC0.1515750003.3004/01/2027Technology, Telecomm & Media  A-
BERKSHIRE HATHAWAY INC0.1506750003.1303/15/2026Financials  AA
COSTCO WHOLESALE CORPORATION0.1502750003.0005/18/2027Consumer  A+
HOME DEPOT INC0.1501750003.0004/01/2026Consumer  A
EOG RESOURCES INC0.1491750002.4504/01/2020Energy  BBB+
CSX CORP0.1458700003.7010/30/2020Industrial  BBB+
LOCKHEED MARTIN CORPORATION0.1447700003.5501/15/2026Industrial  BBB+
FEDEX CORP0.1416700003.2002/01/2025Industrial  BBB
BERKSHIRE HATHAWAY INC0.1288650002.2003/15/2021Financials  AA
PRUDENTIAL FINANCIAL INC0.1284600004.5011/15/2020Financials  A
DOMINION RESOURCES INC0.1267600004.4503/15/2021Energy  BBB
DUKE ENERGY CAROLINAS LLC0.1265600003.9006/15/2021Energy  A
CITIZENS FINANCIAL GROUP INC0.1262600004.3012/03/2025Financials  BBB
WALT DISNEY CO0.1207600003.0002/13/2026Industrial  A+
ABBOTT LABORATORIES0.1201600002.3511/22/2019Consumer  BBB
MERCK & CO INC0.1186600001.8502/10/2020Consumer  AA
L-3 COMMUNICATIONS CORP0.1176550005.2010/15/2019Industrial  BBB-
ALTRIA GROUP INC0.1171550004.0001/31/2024Consumer  A-
REYNOLDS AMERICAN INC0.1105540003.2506/12/2020Consumer  BBB+
PNC FINANCIAL SERVICES GROUP INC0.1056500003.9004/29/2024Financials  BBB+
UNITEDHEALTH GROUP INC0.1054500003.7507/15/2025Consumer  A+
MIDAMERICAN ENERGY COMPANY0.1052500003.5010/15/2024Energy  A+
21ST CENTURY FOX AMERICA INC0.1040500003.7010/15/2025Industrial  BBB+
HALLIBURTON COMPANY0.1036500003.8011/15/2025Energy  BBB+
TRANSCANADA PIPELINES LIMITED0.1031500003.8010/01/2020Energy  A-
WALGREENS BOOTS ALLIANCE INC0.1030500003.3011/18/2021Consumer  BBB
PROCTER & GAMBLE COMPANY0.1030500003.1008/15/2023Consumer  AA-
BERKSHIRE HATHAWAY FINANCE CORP0.1027500002.9010/15/2020Financials  AA
BECTON DICKINSON AND COMPANY0.1015500003.1311/08/2021Consumer  BBB+
BOSTON PROPERTIES LP0.1014500003.6502/01/2026Financials  A-
COCA-COLA COMPANY0.1014500002.8810/27/2025Consumer  AA-
VIRGINIA ELECTRIC AND POWER COMPAN0.1008500003.1501/15/2026Energy  BBB+
CITIGROUP INC0.1007500003.6707/24/2028Financials  BBB+
AETNA INC0.1005500002.7511/15/2022Consumer  A
WASTE MANAGEMENT INC0.1003500003.1303/01/2025Industrial  A-
NORTHROP GRUMMAN CORP0.1002500003.2002/01/2027Industrial  BBB+
MEDTRONIC INC0.1001500002.7504/01/2023Consumer  A
VENTAS REALTY LP0.1001500003.5002/01/2025Financials  BBB+
DUKE ENERGY CAROLINAS LLC0.0992500002.5003/15/2023Energy  A
JOHNSON & JOHNSON0.0980500002.0503/01/2023Consumer  AAA
WYETH0.0972400006.4502/01/2024Consumer  AA
COMMONWEALTH EDISON COMPANY0.0966500002.5506/15/2026Energy  A-
CISCO SYSTEMS INC0.0962500002.5009/20/2026Technology, Telecomm & Media  AA-
HOME DEPOT INC0.0930500002.1309/15/2026Consumer  A
HALLIBURTON COMPANY0.0821400003.2511/15/2021Energy  BBB+
DISCOVERY COMMUNICATIONS INC0.0815400003.3005/15/2022Industrial  BBB-
DISCOVER FINANCIAL SERVICES0.0802400003.7503/04/2025Financials  BBB-
TARGET CORPORATION0.0769400002.5004/15/2026Consumer  A
DIGITAL REALTY TRUST LP0.0712340003.9507/01/2022Financials  BBB
HEALTH CARE REIT INC0.0618300003.7503/15/2023Financials  BBB+
CISCO SYSTEMS INC0.0616300003.0006/15/2022Technology, Telecomm & Media  AA-
MARSH & MCLENNAN COMPANIES INC0.0614300003.5003/10/2025Financials  A-
MCDONALDS CORPORATION0.0609300002.7512/09/2020Consumer  BBB+
UNITED PARCEL SERVICE INC0.0597300002.4510/01/2022Industrial  A+
PUBLIC SERVICE ELECTRIC AND GAS CO0.0594300002.3805/15/2023Energy  A
HEWLETT-PACKARD CO0.0526250004.3809/15/2021Technology, Telecomm & Media  BBB
BRIXMOR OPERATING PARTNERSHIP LP0.0496250003.8502/01/2025Financials  BBB-
WASTE MANAGEMENT INC0.0491250002.4005/15/2023Industrial  A-
CISCO SYSTEMS INC0.0421200003.5006/15/2025Technology, Telecomm & Media  AA-
MARSH & MCLENNAN COMPANIES INC0.0415200003.7503/14/2026Financials  A-
HSBC FINANCE CORP0.0339150006.6801/15/2021Financials  A-
LLOYDS TSB BANK PLC0.0337150006.3801/21/2021Financials  A
MCDONALDS CORPORATION0.0301150002.6301/15/2022Consumer  BBB+
CMS ENERGY CORPORATION0.0295150003.0005/15/2026Energy  BBB
IBM CORP0.0230100008.3811/01/2019Technology, Telecomm & Media  A+
BOEING CO0.0212100004.8802/15/2020Industrial  A
PRUDENTIAL FINANCIAL INC0.0210100005.2003/15/2044Financials  BBB+

DISTRIBUTION SCHEDULE

View by year:
Ex-DateRecord DatePayable DateIncomeShort-Term
Capital Gains
Long-Term
Capital Gains
Return of CapitalTotal Distribution
12/21/201712/22/201712/28/2017
12/01/201712/04/201712/07/2017
11/01/201711/02/201711/07/2017
10/02/201710/03/201710/06/20170.1005000000.100500
09/01/201709/06/201709/08/20170.1070310000.107031
08/01/201708/03/201708/07/20170.1088020000.108802
07/03/201707/06/201707/10/20170.0986750000.098675
06/01/201706/05/201706/07/20170.1091220000.109122
05/01/201705/03/201705/05/20170.1047860000.104786
04/03/201704/05/201704/07/20170.1067310000.106731
03/01/201703/03/201703/07/20170.0956170000.095617
02/01/201702/03/201702/07/20170.0977340000.097734
12/22/201612/27/201612/29/20160.1025520.1425520.05478500.299889
12/01/201612/05/201612/07/20160.0984330000.098433
11/01/201611/03/201611/07/20160.1015090000.101509
10/03/201610/05/201610/07/20160.0981330000.098133
09/01/201609/06/201609/08/20160.1011230000.101123
08/01/201608/03/201608/05/20160.1015680000.101568
07/01/201607/06/201607/08/20160.0958840000.095884
06/01/201606/03/201606/07/20160.0890680000.089068
05/02/201605/04/201605/06/20160.1082200000.108220
04/01/201604/05/201604/07/20160.0909650000.090965
03/01/201603/03/201603/07/20160.0959200000.095920
02/01/201602/03/201602/05/20160.0884970000.088497
12/29/201512/31/201501/05/20160.1033200000.103320
12/01/201512/03/201512/07/20150.0915870000.091587
11/02/201511/04/201511/06/20150.1074330000.107433
10/01/201510/05/201510/07/20150.0570810000.057081
09/01/201509/03/201509/08/20150.0997270000.099727
08/03/201508/05/201508/07/20150.0908310000.090831
07/01/201507/06/201507/08/20150.0978330000.097833
06/01/201506/03/201506/05/20150.0995610000.099561
05/01/201505/05/201505/07/20150.0957610000.095761
04/01/201504/06/201504/08/20150.0975170000.097517
03/02/201503/04/201503/06/20150.0875760000.087576
02/02/201502/04/201502/06/20150.0970430000.097043
12/29/201412/31/201401/05/20150.0977600000.097760
12/01/201412/03/201412/05/20140.0571290000.057129

The Northern Trust Credit-Scored US Corporate Bond Index is designed to measure the performance of a diversified universe of intermediate maturity, U.S.-dollar denominated bonds of companies with investment grade-like characteristics, and enhanced short-term and long-term solvency. To promote liquidity, securities must have an effective maturity of 2-10 years and at least $500mm in amount outstanding to be eligible for inclusion. The index’s construction utilizes an optimization process which has primary objectives of maximizing exposure to our proprietary credit-score, while also maintaining an option adjusted spread and effective duration similar to the eligible universe. The proprietary credit-score seeks to identify companies that exhibit strength in management efficiency, profitability, and solvency.