| Investment Objective: |
The fund's goal is to track as closely as possible, before fees and expenses, the total return of an index composed of investment-grade mortgage-backed securities issued and/or guaranteed by U.S. government agencies. the fund generally invests in securities that are included in the Bloomberg US MBS Float Adjusted Total Return Index. The index tracks fixed-rate agency mortgage-backed pass-through securities guaranteed by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac) that are backed by pools of mortgages. The index is constructed by grouping individual to-be-announced (TBA) deliverable mortgage-backed securities (MBS) pools into aggregates or generics based on program, coupon, and vintage. To be included in the index, pool aggregates must have at least $1 billion currently outstanding and a weighted average maturity of at least 1 year. The index is market capitalization weighted and the securities in the index are updated on the last business day of each month. |
