Industry description
The investment seeks to track the investment results of the Bloomberg December 2024 Maturity Corporate Index.
The fund will invest at least 80% of its assets in the component instruments of the underlying index, and it will invest at least 90% of its assets in fixed income securities of the types included in the underlying index that BFA believes will help the fund track the underlying index. The underlying index is composed of U.S. dollar-denominated, taxable, investment-grade corporate bonds scheduled to mature between January 1, 2024 and December 15, 2024, inclusive.