Top Performers YTD
The top decile of bonds by year-to-date total return.
Yeartodate performance leaders present a stark bifurcation between highgrade stability and distressed alpha, led by solid investmentgrade names like Saudi National Bank offering predictable returns near 4.90% alongside deeply discounted instruments pricing in severe credit stress. Highbeta components of the decile showcase extreme yieldtoworst profiles—such as Lebanon’s 2027 maturity exceeding 200% and Sovcombank’s at over 80%—driven by idiosyncratic recovery dynamics and restructuring narratives rather than pure duration plays. Longduration structures including Zurich Insurance's 2051 issue anchor the higherrated tier with a 3.60% yield, offering institutional portfolio managers a tactical vehicle to capture total return as macroeconomic conditions and interest rate expectations evolve.
| # | 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 | 2026-10-28 | 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 | 5.0778 | 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.