The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Invesco S&P 500 Low Volatility ETF ETF 46138E354 20,508 352,013 SH   SOLE   0 0 0
iShares 10-20 Year Treasury Bond ETF ETF 464288653 32 222 SH   SOLE   0 0 0
iShares Agency Bond ETF ETF 464288166 46 401 SH   SOLE   0 0 0
iShares iBoxx $ Investment Grade Corporate Bond ETF 464287242 65 511 SH   SOLE   0 0 0
iShares iBoxx High Yield Corporate Bond ETF ETF 464288513 269,083 3,060,777 SH   SOLE   0 0 0
iShares JP Morgan USD Emerging Markets Bond ETF ETF 464288281 24 206 SH   SOLE   0 0 0
iShares MBS ETF ETF 464288588 62 571 SH   SOLE   0 0 0
iShares Preferred & Income Securities ETF ETF 464288687 70 1,852 SH   SOLE   0 0 0
iShares TIPS Bond ETF ETF 464287176 23 201 SH   SOLE   0 0 0
SPDR Blackstone / GSO Senior Loan ETF ETF 78467V608 92 1,965 SH   SOLE   0 0 0
SPDR Bloomberg Barclays Convertible Securities ETF 78464A359 20,678 372,777 SH   SOLE   0 0 0
SPDR BLOOMBERG BARCLAYS HIGH YIELD BOND ETF ETF 78468R622 285,783 9,959,533 SH   SOLE   0 0 0
SPDR Bloomberg Barclays International Corporate ETF 78464A151 16 454 SH   SOLE   0 0 0
SPDR Bloomberg Barclays International Treasury ETF 78464A516 31 1,088 SH   SOLE   0 0 0
SPDR Bloomberg Barclays Short Term High Yield ETF 78468R408 3,627 134,643 SH   SOLE   0 0 0
VanEck Vectors International High Yield Bond ETF ETF 92189F445 31 1,237 SH   SOLE   0 0 0
Vanguard Extended Duration Treasury ETF ETF 921910709 85 651 SH   SOLE   0 0 0
Vanguard Total Bond Market ETF ETF 921937835 24 281 SH   SOLE   0 0 0
Xtrackers USD High Yield Corporate Bond ETF ETF 233051432 3,922 77,858 SH   SOLE   0 0 0
iShares TR Barclays 20 YR Treas BD ETF ETF 464287432 19,327 141,260 SH   SOLE   0 0 0