Industry description
The investment seeks a high level of current income in a manner consistent with preservation of capital.
The fund normally invests at least 80% of assets in securities included in the Bloomberg U.S. 1-5 Year Treasury Bond Index. It normally maintains a dollar-weighted average maturity that generally is expected to be three years or less, consistent with that of the index. The advisor uses statistical sampling techniques based on duration, maturity, interest rate sensitivity, security structure, and credit quality to attempt to replicate the returns of the Bloomberg U.S. 1-5 Year Treasury Bond Index using a smaller number of securities.