iBoxx MSCI ESG EUR High Yield Corporates TCA

The iBoxx MSCI ESG EUR High Yield Corporates TCA is designed to measure the transaction cost-adjusted performance of high yield, EUR-denominated corporate bonds, with a minimum amount outstanding of EUR 300 million. Bonds must have a minimum initial time to maturity of two years at issuance and a remaining time to maturity of at least one year at rebalancing. The index excludes issuers involved in controversial activities, as well as those having an ESG rating of BB or below, or having severe ESG controversies. Bonds must be rated BB or B and the index applies a 3% issuer cap. A minimum of 20% of issuers must be excluded from the benchmark at each rebalance based on ESG criteria.