The investment seeks a favorable long-term total return, mainly from current income.
The fund invests at least 80% of its assets in bonds within its benchmark and portfolio tracking index, the Barclays U.S. Aggregate Bond Index. It uses a sampling technique to create a portfolio that closely matches the overall investment characteristics of the index (for example, duration, sector diversification and credit quality) without investing in all of the securities in its index. The securities purchased by the fund will mainly be high-quality instruments rated in the top four credit categories.