Top Performers YTD
The top decile of bonds by year-to-date total return.
The yeartodate top decile presents a highbeta snapshot of fixedincome performance, driven by a stark dichotomy between distressed turnaround plays and highgrade stability. On one end, distressed names like Lebanon's LEBAN 6.85% 2027—trading at a staggering 203.3% YTW—and Venezuela's PDVSA 5.375% 2027 have generated outsized total returns from deeply depressed valuations. Conversely, the screen captures premier tierone credits that have benefited from duration compression and tight credit spreads. Saudi National Bank issues such as SNBAB 5.09% 2029 and SNBAB 5.08% 2030 anchor the cohort with robust investmentgrade profiles, offering yields near 4.9% alongside pristine balancesheet fundamentals. Midtier and emergingmarket constituents illustrate idiosyncratic riskreward dynamics across sectors, led by Russian financials like SOVCOM 7.6% and ALFARU 5.5% 2031, which yield over 77% and reflect shifting liquidity conditions. Meanwhile, European corporate exposure is represented by highquality names like ZURNVX 3% 2051, delivering a defensive 3.6% yield to maturity.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lebanese Republic | …0051 | 6.85 | 203.3 | 70.56 | 2027-03-23 | D | USD | 1.25BN | |
| 2 | Petroleos de Venezuela SA | …4954 | 5.375 | 138.276 | 68.93 | 2027-04-12 | NR | USD | 3BN | |
| 3 | Greenland Global Investment Ltd. | …5233 | 5.6 | 130.253 | 16.4 | 2028-11-13 | Default | USD | 360MM | |
| 4 | Sovcom Capital Designated Activity Company | …8598 | 7.6 | 80.655 | 77.89 | 2171-11-17 | 2027-02-17 | No Rating | USD | 300MM |
| 5 | Alfa Bond Issuance Plc | …0571 | 5.5 | 77.013 | 23.01 | 2031-10-26 | No Rating | USD | 350MM | |
| 6 | Greenland Global Investment Ltd. | …1595 | 5.875 | 75.715 | 16.25 | 2030-07-03 | 2026-10-27 | NR | USD | 668MM |
| 7 | Bank of Nova Scotia | …8N91 | 3.625 | 7.723 | 98.8416667 | 2081-10-27 | 2027-01-27 | BBB- | USD | 600MM |
| 8 | SNB Funding Ltd. | …9416 | 5.08 | 4.937 | 8.7 | 2030-03-17 | A | USD | 750MM | |
| 9 | SNB Funding Ltd. | …9271 | 5.09 | 4.906 | 11.76 | 2029-07-11 | A | USD | 500MM | |
| 10 | Zurich Finance (Ireland) DAC | …7561 | 3 | 3.6 | 118.05 | 2051-04-19 | 2031-01-19 | A+ | USD | 1.75BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.