Industry description
The investment seeks to track the investment results of the ICE Diversified US Cash Pay High Yield Core Industrial Index composed of U.S. dollar-denominated, high yield corporate bonds in the industrial sector.
Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in high-yield, below-investment grade bonds denominated in U.S. dollars of issuers in the industrial sector, either directly or indirectly (e.g., through derivatives). It is non-diversified.