Top Performers YTD
The top decile of bonds by year-to-date total return.
This yeartodate top decile screen highlights extreme distressed credits delivering outsized total returns as prices recover from historic lows, led by deeply discounted issues like SinoOcean’s 2027 maturity trading below 1 cent on the dollar. Yields across this cohort are astronomical yet purely theoretical—typified by LOGPH 4.85% due 2026 at a 7,008% YTW and PDVSA’s 6% 2026 note at 3,141% YTW—underscoring that these gains reflect speculative price volatility and restructuring progress rather than sustainable fundamental value. The leaderboard is heavily concentrated in distressed Chinese property and international financial sector names, where names like Agile Group’s highcoupon paper and Yuzhou’s 2028 bonds reflect aggressive shortterm trading momentum amid broader sector headwinds.
| # | 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.