Industry description
The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the ICE AMT-Free Broad Liquid California Municipal Index.
The underlying index tracks the performance of U.S. dollar denominated investment grade tax-exempt debt publicly issued in the U.S. domestic market by the state of California and its political subdivisions. The fund will invest at least 80% of its total assets (but typically far more) in instruments that comprise the underlying index. The fund is non-diversified.