Presentation :
This ETF replicates an index of U.S. companies issuing high-yield bonds. Designed within the UCITS framework, it provides exposure to the U.S. corporate high-yield bond market and distributes income received to holders. The term "Scored" in the name indicates that a scoring methodology is applied to select or weight securities within the eligible universe.

Advantages :
Allows simple, liquid access to a broad basket of high-yield corporate bonds, with the diversification inherent in an ETF. UCITS status ensures a European regulatory framework and transparency of composition. The distribution policy is suitable for investors seeking periodic income. The ETF structure facilitates adjusting corporate credit exposure within a portfolio.

Risks :
Marked exposure to credit risk and default risk typical of high-yield bonds, as well as higher volatility than investment-grade bonds. Sensitivity to market conditions and interest rate movements, liquidity risk on certain underlying issues, and currency risk if the investor holds the share in a different currency.

Investor profile :
Suitable for investors seeking an income supplement and accepting significant credit risk. Appropriate for a satellite allocation with a medium-to-long-term horizon and tolerance for volatility. Less suitable for conservative or short-term investors.