Top Performers YTD
The top decile of bonds by year-to-date total return.
This yeartodate performance decile is heavily populated by distressed and restructuringdriven total return outliers, dominated by stressed Chinese property developers alongside select Latin American corporate and sovereign situations trading at deep discounts. Standout instances of extreme price appreciation include SinoOcean's 2027 notes alongside Logan Group's 4.85% 2026 paper, reflecting speculative relief rallies and debtworkout progress despite catastrophic yieldtoworst profiles exceeding 7,800%. Professional fixedincome allocators will note that while names like PDVSA's 6% 2026 energy bonds offer elevated nominal yields above 3,100% at prices near 47.5, these highbeta components demand rigorous relativevalue scrutiny regarding recovery values rather than traditional fundamental carry.
| # | 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 | 2026-11-18 | No Rating | USD | 1.15BN |
| 2 | Logan Group Company Ltd | …4458 | 4.85 | 7827.483 | 8.905 | 2026-12-14 | 2026-12-03 | NR | USD | 300MM |
| 3 | Audacy Capital LLC | …AA00 | 6.5 | 3944.211 | 5 | 2027-05-01 | 2026-12-03 | NR | USD | 460MM |
| 4 | Petroleos de Venezuela SA | …AR68 | 6 | 3141.625 | 47.51 | 2026-11-15 | NR | USD | 4.5BN | |
| 5 | OEC Finance Limited | …AG23 | 7.5 | 2119.766 | 73.93 | 2171-01-20 | 2026-12-03 | No Rating | USD | 565MM |
| 6 | First Republic Bank San Francisco | …AC47 | 4.625 | 1248.002 | 5.85 | 2047-02-13 | 2046-08-13 | NR | USD | 400MM |
| 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 | 69.25 | 2027-06-30 | 2026-11-12 | NR | USD | 996MM |
| 9 | Agile Group Holdings Ltd. | …2731 | 13.476 | 722.315 | 84.89 | 2168-03-07 | 2026-12-03 | Default | USD | 500MM |
| 10 | Shimao Group Holdings Ltd. | …3103 | 6 | 497.324 | 0.75 | 2031-07-21 | 2026-11-13 | No Rating | USD | 3.57BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.