| Investment Objective: |
The Fund is an actively managed exchange-traded fund ("ETF"). The Fund seeks to achieve its investment objective by investing in a diversified portfolio of investment grade, U.S. dollar-denominated fixed income securities with a low average effective duration. Fixed income instruments include, but are not limited to, bonds, debt securities and other fixed income and income-producing instruments of any kind issued or guaranteed by governmental or private-sector entities. Such instruments may include, among others, securities issued or guaranteed by the United States Government, its agencies, instrumentalities or sponsored corporations; repurchase agreements; corporate obligations; agency and non-agency mortgage-backed securities of any kind, including commercial and residential mortgage-backed securities; asset-backed securities; securitized investments such as collateralized debt obligations ("CDOs"), including collateralized loan obligations ("CLOs"); commercial paper; bank obligations; inflation indexed bonds; U.S. dollar-denominated foreign fixed-income securities; fixed income securities offered through private placements; and fixed and floating/variable rate debt instruments. |
