The Fund seeks to achieve its investment objective by allocating opportunistically across global fixed income, equities and currencies. The Fund invests a majority of its assets in a portfolio of U.S. and non-U.S. dollar-denominated investment-grade fixed- and floating-rate bonds that are rated BBB- or higher by S&P Global Ratings and-or Fitch Ratings, Inc., or Baa3 or higher by Moody's Investors Service, Inc., or, if unrated, determined by the Fund's management team to be of equivalent quality. Fixed-income securities include corporate bonds of U.S. and non-U.S. issuers, U.S. government bonds; municipal bonds; non-U.S. government bonds, bills, and inflation linked bonds; repurchase agreements; and money market instruments. The Fund may also invest in reverse repurchase agreements. With respect to its portfolio of fixed-income securities, the Fund will seek to maintain a dollar-weighted average maturity that is less than four years. The Fund may invest in derivatives such as futures, interest rate swaps, equity total return swaps, foreign exchange spot contracts and forwards. The Fund may seek to invest in equity securities. As part of its investment in equity securities, the Fund may seek to pursue an equity relative value strategy pursuant to which the Fund may seek to establish substantially offsetting positions to earn a spread. The Fund expects to maintain net notional equity exposures below 5 Percent. Equity securities may include common stock, preferred stock, and depositary receipts. The Fund may invest in equity securities of both U.S. and non-U.S. issuers, which may be U.S. dollar-based or non-U.S. dollar based and may be currency hedged or unhedged. The Fund may invest in equity securities of companies of any market capitalization and may also invest in securities convertible into common stock. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index. The Fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index.