The fund will employ a passive management (or indexing) investment approach. The fund seeks to track the price and yield performance, before fees and expenses, of the Bloomberg U.S. Treasury Floating Rate Bond Index. The Index is designed to measure the performance of floating rate U.S. Treasury bonds (Floating Rate Notes or FRNs). Unlike fixedcoupon-rate U.S. Treasury bonds, the coupon rates of the FRNs are expected to reset weekly based on the results of the most recent 13-week U.S. Treasury bill auction. Income is reinvested into the fund.
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