The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80 percent of its net assets, plus any borrowings for investment purposes, in investment-grade corporate bonds and other fixed-income securities at the time of purchase. Investment grade securities are rated BBB minus or higher by S&P Global Ratings (S&P Global) or Baa3 or higher by Moody's Investors Service, Inc. (Moody's) or, if unrated, of comparable quality in the opinion of those selecting such investments. If the security has been rated by only one of those agencies, that rating will determine whether the security is investment grade. If securities are rated differently by the rating agencies, the highest rating is used.