| Investment Objective: |
The ETF seeks a high level of current income. Normally investing at least 80% of assets in debt securities of all types and repurchase agreements for those securities. Allocating assets across the full spectrum of the debt market, including investment-grade (those of medium and high quality), high yield, and emerging markets debt securities across different maturities. Investments will normally include U.S. government securities (including Treasury securities), investment-grade corporate and other debt, lower-quality debt securities (those of less than investment-grade quality, also referred to as high-yield debt securities or junk bonds), investment-grade securitized debt securities, floating rate loans, and other floating rate securities, inflation-protected debt securities, hybrid and preferred securities, contingent convertible securities, and securities of foreign issuers, including securities of issuers located in emerging markets. Investing in both U.S. dollar-denominated and non-U.S. dollar-denominated securities, and generally hedging the fund's foreign currency exposures utilizing forward foreign currency exchange contracts. |
