| Investment Objective: |
The Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing in a portfolio of income-oriented instruments principally consisting of investment-grade U.S. corporate and government debt obligations (including securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities), mortgagebacked securities ("MBS"), mortgage real estate investment trusts ("mREITs"), and preferred stocks. The Fund may also invest in high-yield securities (also known as "junk bonds"), collateralized mortgage obligations ("CMOs"), and repurchase agreements collateralized by U.S. government securities, including MBS. Under normal market conditions, the Fund invests at least 80% of its investable assets in bonds with varying maturities. The Fund seeks to typically maintain an average portfolio duration of up to ten years. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. |
