| BAB/QSCB/Taxable | 55.04% |
| Investment Grade Corporate Bonds | 12.00% |
| High Yield Corporate Bonds | 7.76% |
| Bank Loans | 6.69% |
| Asset-Backed Securities | 6.13% |
| Muni Other | 4.90% |
| BAB Closed End Funds | 4.12% |
| Preferred Securities | 1.14% |
| Cash & Cash Equivalents | 0.86% |
| Non-Agency Mortgage-Backed Securities | 0.66% |
| Private Placements | 0.36% |
| Foreign Government & Agencies | 0.18% |
| Military Housing Bonds | 0.10% |
| Derivatives | 0.05% |
| Equity | 0.01% |
| Blackrock Taxable Municipal Bond Trust 0.00 01/00/1900 | 2.62% |
| West Virginia Sch Bldg Auth 7.65 04/01/2040 | 2.51% |
| Dallas Tex Convention Ctr Hotel Dev Corp 7.09 01/01/2042 | 2.32% |
| School District of Philadelphia 6.00 09/01/2030 | 2.18% |
| Westchester Medical Center 8.57 11/01/2040 | 2.18% |
| Oakland Calif Uni Sch Dist 6.88 08/01/2033 | 2.00% |
| Santa Ana Calif Uni Sch Dist 7.10 08/01/2040 | 1.88% |
| Oklahoma St Dev Fin Auth 5.45 08/15/2028 | 1.84% |
| Evansville-Vanderburgh Ind Sch Bldg Corp 6.50 01/15/2030 | 1.77% |
| Nuveen Build America Bond Fund 0.00 01/00/1900 | 1.50% |
| School | 14.09% |
| Investment Grade Corporate Bonds | 12.00% |
| Hospital | 9.04% |
| High Yield Corporate Bonds | 7.76% |
| University | 7.16% |
| Bank Loans | 6.70% |
| Asset-Backed Securities | 6.13% |
| General Purpose | 5.98% |
| State | 5.19% |
| District - Special | 3.61% |
| Transportation | 3.58% |
| Water & Sewer | 2.51% |
| Power | 1.25% |
| Preferred Securities | 1.14% |
| Utility | 0.98% |
| Cash & Cash Equivalents | 0.86% |
| Non-Agency Mortgage-Backed Securities | 0.66% |
| County | 0.59% |
| City | 0.51% |
| Sales Tax | 0.42% |
| Recreational | 0.38% |
| Private Placements | 0.36% |
| Housing | 0.32% |
| Foreign Government & Agencies | 0.18% |
| Military Housing Bonds | 0.10% |
| Derivatives | 0.05% |
| Other | 8.45% |
| California | 15.21% |
| Texas | 13.63% |
| Washington | 7.66% |
| New York | 6.21% |
| Pennsylvania | 5.80% |
| Illinois | 4.92% |
| Ohio | 4.59% |
| West Virginia | 3.92% |
| Oklahoma | 3.77% |
| Indiana | 3.65% |
| Other | 30.64% |
| Revenue | 59.28% |
| General Obligation | 24.33% |
| Limited General Obligation | 2.34% |
| Certificate of Participation | 0.84% |
| Other | 13.19% |
| AAA | 0.98% |
| AA | 32.96% |
| A | 22.54% |
| BBB | 19.14% |
| BB | 6.32% |
| B | 6.22% |
| CCC | 1.07% |
| CC | 0.03% |
| Not Rated | 9.88% |
| Cash & Cash Equivalents | 0.86% |
*Source: BlackRock Solutions and Bloomberg. The fund credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). All securities except for those labeled “Not Rated” or "FX Forwad" have been rated by a Nationally Recognized Statistical Rating Organization (“NRSRO”). For purposes of this presentation, when ratings are available from more than one agency, the highest rating is used. Guggenheim Investments converts ratings to the equivalent S&P rating.
Guggenheim Investments represents the investment management business of Guggenheim Partners, LLC ("Guggenheim"). Guggenheim Funds Distributors, LLC is an affiliate of Guggenheim.
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