DEFN tracks the Emles Protective Allocation Index to provide investors with competitive returns in benign market environments while protecting portfolios in periods of extreme market stress.
The index allocates approximately 55% of its exposure to US corporate credit securities, 35% to US-listed equities, including American Depository Receipts (ADRs), and the remaining 10% to a mix of put options, commodity futures, and Treasury Inflation-Protected Securities.
Eligible companies must have a minimum market capitalization of $50 billion and at least a BBB+ rating by S&P for long-term USD-denominated debt, although firms with no corporate debt or unrated debt may still be included. Corporate credit securities will only be included if a minimum of three years remain to final maturity.
Corporate credit and equity securities are selected using a proprietary scoring methodology that considers balance sheet health, earnings cadence, debt paydown ability, and other relevant factors.
Alternative ETFs in the Corporate Bonds Category
||Avg. Daily Vol
Most Liquid (Volume)
Top YTD Performer