Industry description
The investment seeks to track the performance, before fees and expenses, of Solactive U.S. 20+ Year Treasury Bond Index designed to measure the performance of obligations of the U.S. Treasury, with maturities greater than 20 years.
Under normal circumstances, at least 80% of the value of the fund’s net assets, plus the amount of any borrowings for investment purposes, will be invested in component securities of the index, which is comprised of U.S. Treasury securities with a dollar weighted average maturity of greater than 20 years.