# High Yield Term

High Yield Term is Steakhouse Financial's fixed-rate enhanced-return product line, targeting durations up to 3 months with a 10% liquidity sleeve in High Yield Instant. It accepts CC-rated or above collateral and will rely on Morpho's upcoming fixed-term loan product and Steakhouse's in-house Box extensions. Most High Yield Term vaults are currently in active development.

## Strategy

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For more on [Term](https://steakhouse.financial/docs/products/stablecoin-products/blocks/term) strategies
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Offer access to a wide range of repo markets and fixed income product (for Plus products).

* [Risk rating](https://www.steakhouse.financial/docs/risk-management/collateral/collateral-standards) underlying: CC or above
* Maximum duration/maturity underlying: 2 years
* Aggregated target duration/maturity: 3 months
* Concentration limits:
  * CC are capped to 25% concentration limit
  * B and BB are capped t 50% concentration limit
* Target liquidity sleeves: 10% in a [High Yield Instant](https://steakhouse.financial/docs/products/vault-products/current/high-yield-instant) product
* High Yield Term products can have a fee up to 10% of performance fees

Most of these vaults are in active development, and will rely on Morpho's upcoming fixed-term loan product as well as our own in-house Box extensions.

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Available on the Steakhouse App by filtering for [Term](https://app.steakhouse.financial/earn?vault-tags=Term)
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<table data-full-width="true"><thead><tr><th width="227.69140625">Name</th><th>Currency<select><option value="2N9doBUsSFEP" label="USD" color="blue"></option><option value="KLFXVVeQCMLP" label="ETH" color="blue"></option><option value="cZNfc5Qpp1m7" label="EUR" color="blue"></option><option value="k9q9WmXX0Fyi" label="BTC" color="blue"></option></select></th><th>Blockchain<select><option value="T53yr6Gx03Lh" label="Ethereum" color="blue"></option><option value="8rufatQiOK8n" label="Base" color="blue"></option><option value="1Mih8C9rrQCA" label="Solana" color="blue"></option><option value="wkpuqMKxcz9y" label="Arbitrum" color="blue"></option></select></th><th>Version<select><option value="1Xp0So8fyVDF" label="Morpho v1" color="blue"></option><option value="0iDLzoUPwdph" label="Morpho v2" color="blue"></option><option value="BrkIhDGIB2XD" label="SHF v1" color="blue"></option><option value="otpXTxAGWHcU" label="Kamino v2" color="blue"></option></select></th><th width="465.32421875">Vault Address</th></tr></thead><tbody><tr><td>Steakhouse High Yield Term USDC Ethereum</td><td><span data-option="2N9doBUsSFEP">USD</span></td><td><span data-option="T53yr6Gx03Lh">Ethereum</span></td><td><span data-option="0iDLzoUPwdph">Morpho v2</span></td><td><code>0xBEEFFFC57A26fD8D3b693Ba025ead597DbECEBfe</code></td></tr></tbody></table>

Plus vaults will be built on our Steakhouse platform and feature illustrative allocations, such as PT rolling strategies:

| Allocation     | Exposure | Risk rating | Liquidity | Yield |
| -------------- | -------- | ----------- | --------- | ----- |
| bbqUSDC        | 10%      | CC          | 1 day     | 6%    |
| PT-USDai-15JAN | 25%      | CC          | 3 months  | 10%   |
| PT-cUSDO-15DEC | 50%      | BB          | 1 day     | 10%   |