Investment Objective: |
The Fund will invest in a combination of fixed-income securities, including, but not limited to high yield securities obligations issued or guaranteed by the U.S. Government, its agencies or instrumentalities mortgage-backed securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities, including U.S. agency mortgage pass-through securities commercial mortgage-backed securities non-agency residential mortgage-backed securities mortgage to-be-announced securities municipal securities securitized assets such as asset-backed securities dollar-denominated and non-dollar-denominated debt obligations of U.S. or foreign issuers, including emerging market issuers and money market securities. Depending on market conditions, the Fund may invest in other market sectors. The Fund may also gain exposure to fixed-income securities through its investments in affiliated investment companies, including other exchange- traded funds, that invest in such securities. The Fund may invest more than 10% of its total assets in such affiliated investment companies. |