Top Performers YTD
The top decile of bonds by year-to-date total return.
The top decile of yeartodate performers is heavily populated by distressed emergingmarket credits and deeply discounted debt trading at distressed cash prices, where extreme capital appreciation has driven outsized total returns. Chinese property and financial issuers feature prominently alongside select Latin American names, highlighted by distressed valuations on issues like SinoOcean’s zerocoupon 2027 maturity and Logan Group's 4.85% 2026 notes. While astronomical yields to worst—such as PDVSA’s 6% 2026 bonds at over 3,100% and OEC Engineering's perpetuals over 2,100%—reflect severe restructuring risk and default overhangs, they underscore the speculative momentum propelling this cohort.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sino-Ocean Group Holdings Ltd | …4057 | 0 | 3421188.35 | 0.75 | 2027-03-27 | 2026-11-14 | No Rating | USD | 1.15BN |
| 2 | Logan Group Company Ltd | …4458 | 4.85 | 7008.524 | 8.875 | 2026-12-14 | 2026-11-29 | NR | USD | 300MM |
| 3 | Petroleos de Venezuela SA | …AR68 | 6 | 3141.625 | 41.86 | 2026-11-15 | NR | USD | 4.5BN | |
| 4 | OEC Finance Limited | …AG23 | 7.5 | 2119.766 | 73.93 | 2171-01-20 | 2026-11-29 | No Rating | USD | 565MM |
| 5 | First Republic Bank San Francisco | …AC47 | 4.625 | 1248.002 | 5.85 | 2047-02-13 | 2046-08-13 | NR | USD | 400MM |
| 6 | PIK Securities Designated Activity Company | …6560 | 5.625 | 1237.96 | 97.17 | 2026-11-19 | No Rating | USD | 525MM | |
| 7 | First Republic Bank San Francisco | …AB63 | 4.375 | 1125.447 | 5.71 | 2046-08-01 | 2046-02-01 | NR | USD | 400MM |
| 8 | ARD Finance S.A. | …AH37 | 6.5 | 1001.442 | 68.94 | 2027-06-30 | 2026-11-09 | NR | USD | 996MM |
| 9 | Agile Group Holdings Ltd. | …2731 | 13.476 | 722.315 | 84.89 | 2168-03-07 | 2026-11-29 | Default | USD | 500MM |
| 10 | Yuzhou Group Holdings Co Ltd. | …3966 | 4 | 570.111 | 1.5 | 2028-06-30 | 2026-11-29 | No Rating | USD | 409MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.