Industry description
The investment seeks to track the investment results of the Bloomberg 2028 Term High Yield and Income Index composed of U.S. dollar-denominated, high yield and other income generating corporate bonds maturing in 2028.
The index is composed of U.S. dollar denominated, taxable, fixed-rate, high yield and BBB or equivalently rated corporate bonds scheduled to mature between January 1, 2028 and December 15, 2028, inclusive. The fund will invest in non-U.S. issuers to the extent necessary for it to track the index. It is non-diversified.