Top Performers YTD
The top decile of bonds by year-to-date total return.
This theme screens the ten bonds with the strongest yeartodate total return. The list is dominated by distressed and highyield credits, so price recovery, not carry, has driven performance. The headline yields are extreme and should be read as measures of distress, not income. LOGPH shows a 7,995% YTW on an 8.94 price, and PDVSA shows 3,141.6% on a 54.84 price. Chinese property and financial issuers (CIFIHG, AGILE, KAISAG) and Venezuelan energy credit (PDVSA) make up much of the list. ARDFIN's 1,001% YTW on a 69.57 price shows how far the yield can diverge from the price, so relative value depends on the view of recoverable value.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Logan Group Company Ltd | …4458 | 4.85 | 7995.419 | 8.9375 | 2026-12-14 | 2026-12-05 | NR | USD | 300MM |
| 2 | Audacy Capital LLC | …AA00 | 6.5 | 3966.946 | 5 | 2027-05-01 | 2026-12-05 | NR | USD | 460MM |
| 3 | Petroleos de Venezuela SA | …AR68 | 6 | 3141.625 | 54.84 | 2026-11-15 | NR | USD | 4.5BN | |
| 4 | CIFI Holdings Group Co Ltd | …1763 | 4.375 | 2180.441 | 9.625 | 2027-04-12 | 2026-12-05 | NR | USD | 419MM |
| 5 | OEC Finance Limited | …AG23 | 7.5 | 2119.766 | 73.93 | 2171-01-20 | 2026-12-05 | 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 | 69.57 | 2027-06-30 | 2026-11-15 | NR | USD | 996MM |
| 9 | Kaisa Group Holdings Ltd. | …1758 | 0 | 784.716 | 0.205 | 2028-12-31 | 2026-12-05 | No Rating | USD | 800MM |
| 10 | Agile Group Holdings Ltd. | …2731 | 13.476 | 722.315 | 84.89 | 2168-03-07 | 2026-12-05 | Default | USD | 500MM |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.