HIGH INCOME PASS-THROUGH SECURITIES CRITERIA
CONSTITUENT ELIGIBILITY REQUIREMENTS
In order to be eligible for inclusion in the index, companies must meet the following conditions:
The final eligible universe is reconstituted annually from a universe of U.S.-listed high income pass-through securities applying the following screens and filters for each asset category:
Closed End Funds (CEFs)
The index selection process selects equities for the selection pool that meet the following conditions as determined the Index Provider. Securities are selected based on the following criteria:
• Assets of at least $150 million USD
• Average daily traded value (ADTV) of at least $500k over the last 6 months
• Top 10 CEFs with the highest indicated dividend yield and lowest 180-day volatility
Business Development Companies (BDCs)
• USD market capitalization of at least $500 million
• Average daily traded value (ADTV) of at least $500k over the last 6 months
• Top 10 BDCs with the highest indicated dividend yield and lowest 180-day volatility
Real Estate Investment Trusts (REITs)
• USD market capitalization of at least $1 billion
• Average daily traded value (ADTV) of at least $500k over the last 6 months
• Top 10 REITS with the highest indicated dividend yield and lowest 180-day volatility
Energy Master Limited Partnerships (MLPs)
• USD market capitalization of at least $1 billion
• Average daily traded value (ADTV) of at least $500k over the last 6 months
• Top 10 REITS with the highest indicated dividend yield and lowest 180-day volatility
