Three indices published once after each close (T+1). Composite weights all constituents by face value outstanding; IG and HY are computed separately by rating tier. Every value traces back to specific TRACE trades.
The background layer uses market-wide IG / HY spreads on FINRA's free aggregate convention (a placeholder series during V0). Premium = NCSX tier level − the matching broad-market spread.
The index is derived from its constituents, so every basis point of change decomposes into specific bonds: contributioni = (weighti) × Δspreadi, summing exactly to the index change over the window.
| Bond | Rating | Weight % | Δ spread | Contrib bp |
|---|
Pick a date to see the three tier levels and the daily change. Every snapshot has its own link, so you can send it to a colleague, drop it into a memo or a footnote — they open the same numbers for the same day.
Full history (including trade detail) is available in the subscription tier and the API; the free tier publishes T+1 aggregate levels.
| Date | Composite | Δ 1D | Composite 5D | IG | Δ 1D | HY | Δ 1D |
|---|
Investment grade. Constituents must be rated BBB− or better, or be an asset-backed / hyperscaler-contract-guaranteed structure. Currently 3 bonds, $3.85B face value outstanding.
High yield. BB+ and below (including the BB / B / CCC sub-tiers). Currently 17 bonds, $19.0B face value. Most sector risk sits in this tier.
Composite. All constituents weighted by face value outstanding — the flagship NCSX level. Because HY outweighs IG, Composite tracks HY closely.