Strategy. 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% of its net assets, plus any borrowings for investment purposes, in investment-grade corporate bonds and other fixed-income securities. "Investment grade" securities are rated BBB- or higher by S&P Global Ratings ("S&P Global") or Baa3 or higher by Moody's Investors Service, Inc. ("Moody's"). If a security has been rated by only one of the rating agencies, that rating will determine the securitys rating; if the security is rated differently by the rating agencies, the highest rating will be used; and if the security has not been rated by either of the rating agencies, those selecting such investments … Show more… 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% of its net assets, plus any borrowings for investment purposes, in investment-grade corporate bonds and other fixed-income securities. "Investment grade" securities are rated BBB- or higher by S&P Global Ratings ("S&P Global") or Baa3 or higher by Moody's Investors Service, Inc. ("Moody's"). If a security has been rated by only one of the rating agencies, that rating will determine the securitys rating; if the security is rated differently by the rating agencies, the highest rating will be used; and if the security has not been rated by either of the rating agencies, those selecting such investments will determine the securitys quality. The fixed-income securities in which the Fund invests include foreign securities, corporate securities , securities issued or guaranteed by the U.S. government or its agencies and instrumentalities, and securities issued or guaranteed by foreign governments payable in U.S. dollars . The portfolio is not managed to a particular maturity. Under normal circumstances, the Fund maintains an average portfolio duration that is within +/- 10% of the duration of the Bloomberg U.S. Corporate Investment Grade Bond Index, which as of September 30, 2025 was 6.81 years. The Fund actively trades securities. The Fund invests in derivatives, including treasury futures for hedging or to otherwise manage fixed-income exposure, as well as credit default swaps and credit index futures, including buying and selling on individual securities and/or baskets of securities, to efficiently manage exposures to certain sectors or individual issuers. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index. The Funds strategies may result in the active and frequent trading of the Funds portfolio securities. Show less