The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its objective by (i) investing in one or more other ETFs that seek to obtain exposure to the performance of short-term, investment grade, U.S. dollar-denominated, fixed-rate taxable bonds with a dollar-weighted average maturity of no more than three years with a maximum maturity of five years or directly in the securities held by such ETFs (collectively, the Underlying Investments) and (ii) selling and purchasing listed short-term put options (put spreads) to generate income to the Fund (the Overlay Strategy). Under normal circumstances, at least 80% of the Funds net assets, plus borrowings for investment purposes, will be invested, directly or indirectly through ETFs, in bonds.