Industry description
The investment seeks to track the performance of the Bloomberg U.S. Aggregate Float Adjusted Index.
The index measures the performance of a wide spectrum of public, investment-grade, taxable bonds in the U.S. including government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securities all with maturities of more than 1 year. It invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the bonds that make up the index and in securities that the advisor determines have substantially identical economic characteristics to the securities that make up the index.