Highland/iBoxx Senior Loan ETF

C000118182 Fund Overview

Highland/iBoxx Senior Loan ETF is a US ETF managed by Nexpoint Funds I, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Nexpoint Funds I
• Category: Money Market
• Assets under management: $30.72M
• 1-year return: 11.4%
• SEC CIK: 0001354917
• SEC series ID: S000038289
• Share class ID: C000118182

C000118182 Investment Objective and Strategy

Highland/iBoxx Senior Loan ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Nexpoint Funds I.

Investment objective

The investment objective of Highland/iBoxx Senior Loan ETF (the “Fund”) is to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Markit iBoxx USD Liquid Leveraged Loan Index (the “Underlying Index”).

Principal investment strategy

The Fund will, under normal circumstances, invest at least 80% of its assets (the 80% basket) in component securities of the Underlying Index (Component Securities). The Fund may invest the remaining 20% of its assets (the 20% basket) in securities not included in the Underlying Index, but which the Adviser believes will help the Fund track the Underlying Index. For example, the Fund may invest in securities that are not components of the Underlying Index to reflect various corporate actions (such as mergers) and other changes in the Underlying Index (such as reconstitutions, additions and deletions). The Fund may invest in securities of any type and of companies of any market capitalization, market sector or industry. The Fund may use the 20% basket to invest in securities issued by other investment companies, including other exchange-traded funds.

The Fund also may invest in warrants and may also use derivatives, primarily swaps (including equity, variance and volatility swaps), options and futures contracts on securities, interest rates, non-physical commodities and/or currencies, with the 20% basket to track the Underlying Index and as substitutes for direct investments the Fund can make. The Fund may also use derivatives such as swaps, options (including options on futures), futures, and foreign currency transactions (e.g., foreign currency swaps, futures and forwards) to hedge various investments for risk management and speculative purposes. In addition, the Funds 20% basket may be invested in cash and cash equivalents, including shares of money market funds advised by the Adviser or its affiliates. Unlike many investment companies, the Fund does not try to beat the index it tracks.

The Fund uses a passive management strategy designed to track the total return performance of the Underlying Index as a proxy for the senior secured loan universe. The Underlying Index is a subset of the Markit iBoxx USD Leveraged Loan Index. Leveraged Loans are loans to companies that typically already have a high amount of debt and are often characterized by lower credit ratings or higher interest rates. The Underlying Index is a rules-based index consisting of some of the largest, most liquid Leveraged Loans, as measured by the number of active market participants trading the security and the dollar face amount of outstanding senior loans issued. Currently, loans eligible for inclusion in the Underlying Index are measured by type, size, liquidity, spread, credit rating and minimum time to maturity.

The Underlying Index is sponsored by Markit Indices Limited (the Index Provider), an organization that is independent of the Fund and the Adviser. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index. The Adviser uses a representative sampling indexing strategy to manage the Fund. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability, duration, maturity or credit ratings and yield) and liquidity measures similar to those of the Underlying Index.

The Fund may or may not hold all of the securities in the Underlying Index. Tracking error is the difference between the performance (return) of the Funds portfolio and that of the Underlying Index. The Adviser expects that, over time, the Funds tracking error will not exceed 5%. Funds that employ a representative sampling strategy may incur tracking error risk to a greater extent than funds that seek to replicate an index. The Component Securities primarily consist of senior loans (Senior Loans) to domestic or foreign corporations, partnerships and other entities that operate in a variety of industries and geographic regions, which may include emerging markets (Borrowers). The Fund will, under normal circumstances, invest at least 80% of its assets (i.e., net assets plus borrowings for investment purposes) in Senior Loans.

Senior Loans, at the time of the Funds purchase, have the most senior position in a Borrowers capital structure or share the senior position with other senior debt securities of the Borrower. Senior Loans generally are arranged through private negotiations between a Borrower and several financial institutions (the Lenders) represented in each case by one or more such Lenders acting as agent (the Agent) of the several Lenders. On behalf of the Lenders, the Agent is primarily responsible for negotiating the loan agreement (Loan Agreement) that establishes the relative terms and conditions of the Senior Loan and rights of the Borrower and the Lenders. The Component Securities in which the Fund will invest are expected to be below investment grade securities (also known as high yield securities or junk securities).

Such securities are rated below investment grade by a nationally recognized statistical rating organization (NRSRO) or are unrated but deemed by the Adviser to be of comparable quality. The Underlying Index may include, and the Fund may acquire and retain in its portfolio, below investment grade or unrated securities, including loans of Borrowers that are insolvent or in default, provided that all criteria of the Underlying Index, including liquidity requirements, are met. The Fund may invest in participations (Participations) in Senior Loans and may purchase assignments (Assignments) of portions of Senior Loans from third parties. Senior Loans often are secured by specific assets of the Borrower, although the Fund may invest without limitation in Senior Loans that are not secured by any collateral.

The Fund is a non-diversified fund as defined in the Investment Company Act of 1940, as amended (the 1940 Act), but intends to adhere to the diversification requirements applicable to regulated investment companies (RICs) under Subchapter M of the Internal Revenue Code of 1986, as amended (the Code). The Fund is not intended to be a complete investment program. Except for investment restrictions designated as fundamental in this Prospectus or in the Funds Statement of Additional Information (SAI), the investment policies described in this Prospectus or the Funds SAI are not fundamental and may be changed without shareholder approval.

C000118182 Holdings

Top 10 holdings of Highland/iBoxx Senior Loan ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000118182 holdings

C000118182 Portfolio Allocation

Asset-class allocation of Highland/iBoxx Senior Loan ETF by percentage of net assets, from the latest SEC N-PORT filing.

C000118182 Performance

Total returns for C000118182 (as of 2026-10-01), from SEC filings.

C000118182 Risk Information

Risk metrics for C000118182, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 3.5%

C000118182 Costs and Fees

C000118182 costs about $56 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.56%
• Gross expense ratio: 0.76%
• Portfolio turnover: 157%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000118182 Cashflows

Over the 12 months to 2023-07, Highland/iBoxx Senior Loan ETF had net inflows of $66.51M, from monthly SEC N-PORT filings.

C000118182 Debt Constituents

No individual debt constituents are reported in Highland/iBoxx Senior Loan ETF's latest SEC N-PORT filing.

C000118182 Prospectus and SEC Filings

Official Highland/iBoxx Senior Loan ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2022-10-28
• Prospectus (485BPOS) — filed 2021-10-28
• Prospectus (485BPOS) — filed 2021-07-08
• Portfolio holdings (N-PORT) — filed 2023-11-29
• Portfolio holdings (N-PORT) — filed 2023-08-29
• Portfolio holdings (N-PORT) — filed 2023-05-30
• Annual census (N-CEN) — filed 2023-09-13
• Annual census (N-CEN) — filed 2022-09-13

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.