Investment Objective: |
The Fund employs a passive management (or "indexing") approach, investing in a diversified portfolio of U.S. investment grade bonds that satisfy certain environmental, social and governance ("ESG") criteria. The Fund seeks to track the investment results, before fees and expenses, of the Bloomberg MSCI 1-5 Year US Aggregate ESG Select Index. The Bloomberg MSCI 1-5 Year US Aggregate ESG Select Index (the "Index") uses a rules-based methodology that seeks to provide investment exposure that generally replicates a modified version the Bloomberg 1-5 Year U.S. Aggregate Bond Index (the "Base Index") through a portfolio of securities that adhere to predetermined ESG criteria. The Index is composed of U.S. government securities, debt securities issued by U.S. corporations, residential and commercial mortgage-backed securities, asset-based securities and U.S. dollar-denominated debt securities issued by non-U.S. governments and corporations. |