Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds issued by the U.S. government, its agencies, or instrumentalities or bonds that are rated AAA by S&P Global Ratings (S&P Global) or Aaa by Moodys Investors Service, Inc. (Moodys). Bonds include, but are not limited to, asset-backed securities (ABS), mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage-backed securities (MBS) (also referred to as securitized products). The Fund also invests in ABS and MBS that are rated lower than AAA by S&P Global or Aaa by Moodys (or of comparable quality), including collateralized mortgage obligations, and in other … Show more… Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds issued by the U.S. government, its agencies, or instrumentalities or bonds that are rated AAA by S&P Global Ratings (S&P Global) or Aaa by Moodys Investors Service, Inc. (Moodys). Bonds include, but are not limited to, asset-backed securities (ABS), mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage-backed securities (MBS) (also referred to as securitized products). The Fund also invests in ABS and MBS that are rated lower than AAA by S&P Global or Aaa by Moodys (or of comparable quality), including collateralized mortgage obligations, and in other obligations that are secured by mortgages or MBS. The MBS in which the Fund invests include MBS trading in the to-be-announced (TBA) markets. 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. Under normal circumstances, the Fund maintains an average portfolio duration that is within 50% of the duration of the Bloomberg U.S. Agency Fixed Rate MBS Index, which as of March 31, 2025 was 5.95 years. The Fund is not managed to a particular maturity. The Funds strategies may result in the active and frequent trading of the Funds portfolio securities. The Fund invests in derivatives, including Treasury futures and securities delivered in TBA transactions, to manage the fixed-income exposure. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index. Show less