Industry description
The investment seeks to track the price and yield performance, before fees and expenses, of the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration (the "index").
The index is designed to provide long exposure to the Bloomberg U.S. Aggregate Bond Index while seeking to manage interest rate risk through the use of short positions in U.S. Treasury securities. The fund normally invests at least 80% of its total assets in the constituent securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such constituent securities. It is non-diversified.