| BAB/QSCB/Taxable | 52.83% |
| Investment Grade Corporate Bonds | 13.21% |
| Asset-Backed Securities | 8.39% |
| High Yield Corporate Bonds | 7.60% |
| Bank Loans | 6.84% |
| Muni Other | 4.44% |
| BAB Closed End Funds | 3.73% |
| Preferred Securities | 1.03% |
| Cash & Cash Equivalents | 0.66% |
| Non-Agency Mortgage-Backed Securities | 0.64% |
| Private Placements | 0.30% |
| Foreign Government & Agencies | 0.17% |
| Military Housing Bonds | 0.10% |
| FX Forward | 0.03% |
| Derivatives | 0.02% |
| Equity | 0.01% |
| West Virginia Sch Bldg Auth 7.65 04/01/2040 | 2.43% |
| Blackrock Taxable Municipal Bond Trust 0.00 01/00/1900 | 2.31% |
| Dallas Tex Convention Ctr Hotel Dev Corp 7.09 01/01/2042 | 2.24% |
| School District Of Philadelphia 6.00 09/01/2030 | 2.17% |
| Oakland Calif Uni Sch Dist 6.88 08/01/2033 | 2.11% |
| Westchester Medical Center 8.57 11/01/2040 | 2.09% |
| Oklahoma St Dev Fin Auth 5.45 08/15/2028 | 1.96% |
| Evansville-Vanderburgh Ind Sch Bldg Corp 6.50 01/15/2030 | 1.86% |
| Santa Ana Calif Uni Sch Dist 7.10 08/01/2040 | 1.79% |
| Pittsburgh Pa Sch Dist 6.85 09/01/2029 | 1.52% |
| School | 13.94% |
| Investment Grade Corporate Bonds | 13.21% |
| Hospital | 8.85% |
| Asset-Backed Securities | 8.39% |
| High Yield Corporate Bonds | 7.60% |
| Bank Loans | 6.84% |
| University | 6.47% |
| General Purpose | 5.47% |
| State | 5.05% |
| Transportation | 3.45% |
| District - Special | 3.44% |
| Water & Sewer | 2.44% |
| Power | 1.24% |
| Preferred Securities | 1.03% |
| Utility | 0.93% |
| Cash & Cash Equivalents | 0.66% |
| Non-Agency Mortgage-Backed Securities | 0.64% |
| County | 0.56% |
| City | 0.49% |
| Sales Tax | 0.40% |
| Recreational | 0.37% |
| Housing | 0.30% |
| Private Placements | 0.30% |
| Foreign Government & Agencies | 0.17% |
| Military Housing Bonds | 0.10% |
| FX Forward | 0.03% |
| Derivatives | 0.02% |
| Equity Strategy | 0.01% |
| Other | 7.59% |
| California | 15.60% |
| Texas | 13.63% |
| Washington | 7.76% |
| New York | 6.21% |
| Pennsylvania | 6.11% |
| Illinois | 4.95% |
| Ohio | 4.84% |
| Oklahoma | 4.10% |
| Indiana | 4.00% |
| West Virginia | 3.98% |
| Other | 28.82% |
| Revenue | 59.67% |
| General Obligation | 24.51% |
| Certificate of Participation | 0.89% |
| Limited General Obligation | 2.49% |
| Other | 12.44% |
| AAA | 0.71% |
| AA | 30.03% |
| A | 25.41% |
| BBB | 19.82% |
| BB | 6.84% |
| B | 6.62% |
| CCC | 0.78% |
| CC | 0.02% |
| Not Rated | 9.08% |
| FX Forward | 0.03% |
| Cash & Cash Equivalents | 0.66% |
*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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