Industry description
The investment seeks to track the investment results of the Bloomberg US Treasury 3 Year Duration Index composed of U.S. Treasury securities with a duration between 2 and 4 years.
Under normal circumstances, 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 3 years, 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 US Treasury Index. It is non-diversified.