Industry description
The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the ICE BofA US High Yield Total Return Index.
The underlying index, which is capitalization weighted based on an issuer’s current market value of debt outstanding and is designed to measure the performance of U.S. dollar denominated below investment grade (commonly referred to as “junk”) corporate debt publicly issued in the U.S. domestic market. The fund will invest at least 80% of its assets in securities included in the underlying index.