Under normal circumstances, the fund will invest at least 80% of its total assets in high-yield bonds included in the index. The index is comprised of (a) long positions in U.S. dollar-denominated high yield corporate bonds ("high yield bonds") and (b) short positions in U.S. Treasury notes or bonds ("Treasury Securities") of, in aggregate, approximate equivalent duration to the high yield bonds.
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Under normal circumstances, the fund will invest at least 80% of its total assets in high-yield bonds included in the index. The index is comprised of (a) long positions in U.S. dollar-denominated high yield corporate bonds ("high yield bonds") and (b) short positions in U.S. Treasury notes or bonds ("Treasury Securities") of, in aggregate, approximate equivalent duration to the high yield bonds.
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Daily adjusted close
Under normal circumstances, the fund will invest at least 80% of its total assets in high-yield bonds included in the index. The index is comprised of (a) long positions in U.S. dollar-denominated high yield corporate bonds ("high yield bonds") and (b) short positions in U.S. Treasury notes or bonds ("Treasury Securities") of, in aggregate, approximate equivalent duration to the high yield bonds.