The Fund is a fund of funds, meaning that it primarily invests its assets in securities of other exchange-traded funds (ETFs). In particular, the Fund allocates its assets among ETFs that each focus on one or more of the following sectors of the fixed income market; securities issued or guaranteed by the U.S. government or its agencies, instrumentalities or sponsored corporations; inflation protected public obligations of the U.S. Treasury; U.S. corporate securities; U.S. mortgage-backed securities; high yield securities commonly known as junk bonds; international government and corporate securities, including emerging markets; first lien senior secured floating rate bank loans; floating and variable rate securities; and cash equivalents.