The objective of the Fund is to track the performance of the long maturity, fixed-rate, investment-grade U.S. Dollar-denominated corporate bond market. It aims to do this by tracking the Barclays US Long Corporate Index.
The Index measures the performance of the long-dated, investment grade U.S. corporate bond market. Only bonds that have a maturity of more than ten years are included. Securities must be fixed rate, U.S. dollar denominated, taxable and rated investment grade as defined by the Index methodology. Inclusion is based on the currency of the issue, not the domicile of the issuer.