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I would like to understand what the main differences between LCDX and CDXHY are.

Also, can anyone explain what the cancellable feature for LCDS, which is not there for CDS's, is and what it means for investors?

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  • $\begingroup$ Leveraged loans vs High Yield $\endgroup$ – pyCthon Oct 5 '16 at 1:33
  • $\begingroup$ You should give some context and particularly links to descriptions of the indices in your question. Like this, it's not understandable by anybody who don't know these specific indices (it's even unclear you're talking about indices). $\endgroup$ – SRKX Nov 4 '16 at 10:00
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Broadly speaking, CDX HY is a credit index on companies that are risky according to some credit metrics. Whereas LCDX is a credit index on loans. I remember that loans are syndicated and are backed by assets.

Documentation can be found on the Markit website.

http://www.markit.com/Documentation/Product/LCDX

http://www.markit.com/Documentation/Product/CDX

Look for the Rules document.

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