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Part of our Cash Investments collection, this passively managed exchange-traded fund (ETF) tracks the Fed Funds rate (aka the interest rate US commercial banks lend money to each other overnight).Essentially, this passively-managed ETF attempts to replicate the performance of a deposit if it were to earn the Fed Funds rate, with interest being reinvested daily. It does this by replicating the performance of the Solactive Fed Funds Effective Rate Total Return index synthetically with a swap.
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