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 Emerging Markets Soverign Debt Portfolio ETF 46138E784 2,056 90,947 SH   SOLE   0 0 90,947
Invesco Senior Loan ETF ETF 46138G508 20,205 928,147 SH   SOLE   0 0 928,147
iShares TIPS Bond ETF ETF 464287176 21,882 175,661 SH   SOLE   0 0 175,661
iShares JPMorgan USD Emerging Markets Bond ETF ETF 464288281 5,047 51,635 SH   SOLE   0 0 51,635
ISHARES NATIONAL MUNI BOND ETF ETF 464288414 12,597 114,895 SH   SOLE   0 0 114,895
iShares iBoxx $ High Yield Corporate Bond ETF ETF 464288513 3,984 48,420 SH   SOLE   0 0 48,420
Spdr Bloomberg Barclays Convertible ETF 78464A359 9,578 124,481 SH   SOLE   0 0 124,481
SPDR BLOOMBERG BARCLAYS SHORT TERM HIGH YIELD BOND ETF 78468R408 9,033 344,276 SH   SOLE   0 0 344,276
SPDR BLOOMBERG BARCLAYS HIGH YIELD BOND ETF ETF 78468R622 2,836 27,677 SH   SOLE   0 0 27,677
Vaneck Vectors Emerging Market High Yield Bond ETF ETF 92189F353 6,184 306,769 SH   SOLE   0 0 306,769
VANGUARD REAL ESTATE ETF ETF 922908553 4,800 44,300 SH   SOLE   0 0 44,300
Vanguard Short-Term Inflation-Protected ETF 922020805 10,680 208,560 SH   SOLE   0 0 208,560
Vanguard Mortgage-Backed Securities ETF ETF 92206C771 8,936 178,368 SH   SOLE   0 0 178,368
Vanguard Emerging Markets Government Bond Fund ETF ETF 921946885 10,746 153,825 SH   SOLE   0 0 153,825