Fixed Income Update for the week of November 15, 2022

Thursday’s ‘CPI’ consumer price index print was the big story of the week, with the core CPI for October at +6.3% against expectations of +6.5%. The report pushed stocks and other risky assets higher on expectations that inflation growth has started to slow and the Federal Reserve “Fed” will be less aggressive in its rate-setting policy.

Carefully consider the investment objectives, risks, charges and expenses of each Fund before investing. This and other information can be found in each respective Fund’s prospectus or, if available, in the simplified prospectus, which can be obtained by visiting bondbloxx.com. Read the prospectus carefully before investing.

There are risks associated with investing, including possible loss of principal. Fixed income investments are subject to interest rate risk; their value will normally decline as interest rates rise. Fixed income investments are also subject to credit risk, the risk that the issuer of a bond will not pay interest and principal on time, or that a negative perception of the issuer’s ability to make these payments causes the price of that bond to fall. decline. Investing in mortgage and asset-backed securities involves interest rate, credit, valuation, extension and liquidity risks and the risk that payments on the underlying assets will be delayed, prepaid, subordinated or in default.

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Bond ratings are ratings assigned to bonds that indicate their credit quality, as determined by independent private rating services, such as Standard & Poor’s, Moody’s and Fitch. These companies assess the financial strength of a bond issuer, or its ability to pay the principal and interest of a bond in a timely manner. Ratings are expressed as letters ranging from “AAA”, which is the highest rating, to “D”, which is the lowest rating.

The performance of the index is not representative of the performance of the fund. You cannot invest directly in an index. Please visit bondbloxx.com for fund performance.

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