| Investment Objective: |
The Fund is an actively managed ETF that seeks to provide current income, consistent with preservation of capital and daily liquidity, by investing primarily in U.S. Treasury bills ("T-Bills"). The Fund, under normal market conditions, will invest at least 80% of its net assets (plus any borrowings for investment purposes) in T-Bills with remaining maturities of six months or less. The Fund may also invest in cash, cash equivalents, and money market instruments that utilize T-Bills as the underlying securities. The Sub-Adviser employs a laddered maturity structure whereby the Fund invests in T-Bills with different short-term maturity dates designed to maintain a target dollar-weighted average maturity ("WAM") of approximately 60 days. As the T-bills mature, the Fund reinvests the proceeds into new T-bills at current market interest rates, a practice referred to as "rolling." This continuous rolling process helps the Fund take advantage of changing interest rates and maintain liquidity as securities mature. |
