Laddered Fixed Income
For institutional investors
Our laddered strategies provide a systematic and customizable approach for income-oriented investors.
Parametric’s Laddered Fixed Income strategies give investors the opportunity to adjust to rising interest rates and improve yields. These strategies aim to deliver predictable income and preserve investor capital.
Intended benefits of laddered bond portfolios

Predictable exposure
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Once designed, a portfolio structure will be maintained to balance reinvestment and price risk.

Execution
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Our size and scale allow us to buy and sell bonds at attractive prices with a focus on high efficiency and cost-effective trades.

Risk management
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We seek to minimize downside risk with fundamental credit analysis from our credit research teams.
To build a laddered portfolio of corporates or municipals, we equally weight investment-grade bonds by maturities along a defined segment of the yield curve. As bonds mature, their proceeds are reinvested into longer maturities, which typically have higher yields. Through continuous reinvestment in longer-dated bonds, the overall portfolio benefits from higher income during periods of rising rates.


ADVISOR TOOL
Laddered Interest Rate Scenario Tool
Discover the impact of changing interest rates on laddered municipal and corporate bond portfolios.
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Resources
How the Municipal Bond Market Funds Climate Solutions

by Lauren Kashmanian, Director, Portfolio Management and Responsible Investing
May 30, 2023
What role can the municipal bond market play in addressing climate change?
Ending Another Cycle: What to Do with Rising Rates in Fixed Income

by Evan Rourke, Director, Portfolio Management
May 4, 2023
Read why following the Fed’s lead has historically delivered strong performance for fixed income investors.
What’s Behind the Disconnect Between Coupon Income and Yield?


by Bernie Scozzafava, Director, Quantitative Research and Portfolio Management; John Hemingway, Associate Portfolio Manager
April 24, 2023
Laddered bond portfolios aim to make income more predictable. What’s happening when income and yield diverge? Get the answer.