| OVERALL PORTFOLIO COMPOSITION (%) | |
| Cash: | 4.88 | | Stocks: | 0.75 | | Bonds: | 90.26 | | Other: | 4.11 |
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| TOP 10 HOLDINGS ( 15.51% OF TOTAL ASSETS) | |
| Company | Symbol | % Assets | YTD Return % | | iShares iBoxx $ High Yield Corporate Bd | N/A | 4.71 | N/A | | SPDR Barclays Capital High Yield Bond | N/A | 3.65 | N/A | | Qwest Comms Intl 7.5% | N/A | 1.32 | N/A | | FIRST DATA | N/A | 0.94 | N/A | | ENBRIDGE ENERGY PARTNERS L P | N/A | 0.89 | N/A | | Puget Sound Engy FRN | N/A | 0.82 | N/A | | Entpr Prods Oper FRN | N/A | 0.81 | N/A | | Sungard Data Sys 10.25% | N/A | 0.80 | N/A | | Teppco Partners L P FRN | N/A | 0.79 | N/A | | Charter Comms Oper 144A 10% | N/A | 0.78 | N/A |
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| Averages | USHYX | Category Avg | | Price/Earnings | 12.58 | 14.17 | | Price/Book | 1.39 | 1.60 | | Price/Sales | 0.49 | 0.45 | | Price/Cashflow | 3.68 | 4.97 | | Median Market Cap | 5.29B | 9.57B | | 3 Year Earnings Growth | 12.50% | 19.16% |
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| Sector | | USHYX | Category Avg | | Utilities | | 5.88 | 5.76 | | Business services | | 0.00 | 15.31 | | Financials | | 22.56 | 11.89 | | Telecommunications | | 20.65 | 8.31 | | Media | | 15.21 | 8.50 | | Consumer goods | | 0.81 | 12.84 | | Energy | | 4.03 | 7.19 | | Hardware | | 0.00 | 7.14 | | Health | | 20.06 | 4.83 | | Software | | 0.00 | 0.42 | | Consumer services | | 0.00 | 6.16 | | Industrial materials | | 10.81 | 11.65 |
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| Sector | USHYX | Category Avg | | US GOVERNMENT | N/A | N/A | | AAA | 1.30 | 2.50 | | AA | 2.60 | 0.22 | | A | 1.70 | 1.05 | | BBB | 12.70 | 6.40 | | BB | 27.00 | 29.85 | | B | 0.00 | 37.27 | | BELOW B | 54.70 | 20.16 | | OTHER | 0.00 | 2.55 |
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| Averages | USHYX | Category Avg | |
Maturity
| 6.90 | 6.12 | |
Duration
| 3.87 | 3.74 | |
Credit Quality
| B | B |
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0.34% Nasdaq 0.00%
0.01 (0.13%) 
Holdings
