EVHY follows a disciplined approach, putting emphasis on high-yield securities to optimize yield and preserve capital. It strives to achieve its objective through investments in US dollar-denominated high-risk corporate bonds, with a restriction set at no more than 10% of assets for those rated below B3 or B- by external ratings services. The fund also has the flexibility to diversify to investment grade securities, subordinated preferred securities, and foreign and emerging market securities up to certain thresholds. Security selection for EVHY involves in-house credit and investment analysis and incorporates various methodologies including bottom up/top-down strategies, macroeconomic factors, and technical factors, not solely being reliant on the ratings from agencies. Additionally, the fund may also consider ESG factors in its investment decision-making process when applicable.