Industry description
The investment seeks to track the investment results of the Bloomberg U.S. Treasury Six Month Target Duration Index composed of U.S. Treasury securities with a duration between 1 and 12 months.
The fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a portfolio of U.S. Treasury securities that collectively have an average duration of approximately 6 months, either directly or indirectly (e.g., through derivatives). The index is comprised of certain U.S. Treasury notes and bonds that are included in the Bloomberg U.S. Treasury Index. It is non-diversified.