| BAB/QSCB/Taxable | 51.36% |
| Investment Grade Corporate Bonds | 16.67% |
| Asset-Backed Securities | 11.99% |
| High Yield Corporate Bonds | 6.65% |
| Bank Loans | 6.44% |
| Preferred Securities | 1.52% |
| Private Placements | 1.20% |
| Non-Agency Mortgage-Backed Securities | 1.16% |
| Agency Mortgage-Backed Securities | 0.73% |
| Cash & Cash Equivalents | 0.54% |
| Muni Other | 0.54% |
| Military Housing Bonds | 0.45% |
| Commercial Mortgage-Backed Securities | 0.42% |
| Foreign Government & Agencies | 0.14% |
| Credit Tenant Loans | 0.12% |
| Equity | 0.05% |
| FX Forward | 0.02% |
| WEST VIRGINIA SCH BLDG AUTH 7.65 04/01/2040 | 2.19% |
| DALLAS TEX CONVENTION CTR HOTEL DEV CORP 7.09 01/01/2042 | 2.05% |
| SCHOOL DISTRICT OF PHILADELPHIA 6.00 09/01/2030 | 1.97% |
| OKLAHOMA ST DEV FIN AUTH 5.45 08/15/2028 | 1.96% |
| WESTCHESTER MEDICAL CENTER 8.57 11/01/2040 | 1.85% |
| OAKLAND CALIF UNI SCH DIST 6.88 08/01/2033 | 1.84% |
| EVANSVILLE-VANDERBURGH IND SCH BLDG CORP 6.50 01/15/2030 | 1.63% |
| SANTA ANA CALIF UNI SCH DIST 7.10 08/01/2040 | 1.62% |
| TEXAS (STATE OF) 3.34 11/15/2037 | 1.40% |
| PITTSBURGH PA SCH DIST 6.85 09/01/2029 | 1.36% |
| Investment Grade Corporate Bonds | 16.67% |
| Asset-Backed Securities | 11.99% |
| School | 11.99% |
| Hospital | 7.74% |
| High Yield Corporate Bonds | 6.65% |
| Bank Loans | 6.44% |
| Housing | 5.61% |
| General Purpose | 5.18% |
| University | 4.99% |
| State | 4.46% |
| Transportation | 3.25% |
| District - Special | 3.12% |
| Water & Sewer | 2.23% |
| Preferred Securities | 1.52% |
| Private Placements | 1.20% |
| Non-Agency Mortgage-Backed Securities | 1.16% |
| Power | 0.88% |
| Agency Mortgage-Backed Securities | 0.73% |
| City | 0.72% |
| Recreational | 0.60% |
| County | 0.54% |
| Cash & Cash Equivalents | 0.54% |
| Military Housing Bonds | 0.45% |
| Commercial Mortgage-Backed Securities | 0.42% |
| Sales Tax | 0.39% |
| Other | 0.18% |
| Foreign Government & Agencies | 0.14% |
| Credit Tenant Loans | 0.12% |
| Equity Strategy | 0.05% |
| FX Forward | 0.02% |
| CALIFORNIA | 15.24% |
| TEXAS | 13.78% |
| WASHINGTON | 8.24% |
| PENNSYLVANIA | 7.46% |
| ILLINOIS | 6.09% |
| NEW YORK | 5.50% |
| OKLAHOMA | 4.79% |
| OHIO | 4.66% |
| WEST VIRGINIA | 4.21% |
| INDIANA | 4.17% |
| OTHER | 25.86% |
| Revenue | 71.57% |
| General Obligation | 24.41% |
| Certificate of Participation | 0.93% |
| Limited General Obligation | 2.62% |
| Other | 0.48% |
| AAA | 4.19% |
| AA | 30.39% |
| A | 25.40% |
| BBB | 22.44% |
| BB | 7.69% |
| B | 7.09% |
| CCC | 1.30% |
| D | 0.01% |
| Not Rated | 0.92% |
| FX Forward | 0.02% |
| Cash & Cash Equivalents | 0.54% |
*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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