Strategy. The Fund is non-diversified, which means that it may invest a greater percentage of its assets in a particular issuer and may invest in fewer issuers than a diversified fund. The Fund seeks to track the investment results ( i.e., the total return) of the Bloomberg US Corporate BBB 5-10 Year Index (the Index) before fees and expenses of the Fund. The Index is designed to reflect the performance of BBB (or its equivalent) fixed-rate, taxable U.S. dollar-denominated corporate bonds issued by U.S. and non-U.S. industrial, utility and financial issuers (as determined by Bloomberg Index Services Limited (the Index Provider)). As of December 31, 2025, the bonds eligible for inclusion in the Index are taxable, U.S. dollar-denominated corporate bonds that: … Show more… The Fund is non-diversified, which means that it may invest a greater percentage of its assets in a particular issuer and may invest in fewer issuers than a diversified fund. The Fund seeks to track the investment results ( i.e., the total return) of the Bloomberg US Corporate BBB 5-10 Year Index (the Index) before fees and expenses of the Fund. The Index is designed to reflect the performance of BBB (or its equivalent) fixed-rate, taxable U.S. dollar-denominated corporate bonds issued by U.S. and non-U.S. industrial, utility and financial issuers (as determined by Bloomberg Index Services Limited (the Index Provider)). As of December 31, 2025, the bonds eligible for inclusion in the Index are taxable, U.S. dollar-denominated corporate bonds that: (i) pay fixed-rate coupons; (ii) have at least $500 million in par amount outstanding (par amount outstanding provides a measure of relative liquidity and is often seen as a proxy of the float available for investors to purchase); (iii) have a maturity of greater than or equal to five years and less than ten years; and (iv) carry a rating of Baa1/BBB+, Baa2/BBB, or Baa3/BBB- using Bloombergs index rating methodology. BBB-rated bonds are considered investment grade. The Index is market value weighted based on amounts outstanding of issuances consisting of publicly issued BBB fixed-rate, taxable U.S. dollar-denominated bonds issued by U.S. and non-U.S. corporate issuers with remaining maturities of greater than or equal to five years and less than ten years. As of December 31, 2025, a significant portion of the Index is represented by securities of companies in the financial industry or sector. While there is no limit to the number of issues in the Index, as of December 31, 2025, the Index included approximately 1,016 constituents, reflecting the currently expected approximate number of constituents in the Index. The Index is rebalanced monthly, on the last business day of the month. Accordingly, the components of the Index are likely to change over time. For more information regarding the Index, see More Information About the Funds?Underlying Index below. The Fund will invest in privately-issued securities, including those that are normally purchased pursuant to Rule 144A or Regulation S promulgated under the Securities Act of 1933, as amended (the 1933 Act). BIM uses a passive or indexing approach to try to achieve the Funds investment objective. Unlike many investment companies, the Fund does not try to outperform the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio turnover low in comparison to actively managed investment companies. BIM uses a representative sampling indexing strategy to manage the Fund. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable target index that BIM determines to collectively have an investment profile similar to that of the Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market value and sector weightings), fundamental characteristics (such as return variability, duration, maturity, credit ratings and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities in the Index. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) either directly or indirectly ( e.g. , through derivatives) in a portfolio of U.S. dollar-denominated, investment grade corporate bonds issued by U.S. and non-U.S. corporate issuers rated BBB (or its equivalent) with remaining maturities of greater than or equal to five year and less than ten years . The Fund may also invest up to 20% of its net assets in certain futures, options and swap contracts, U.S. Treasury obligations, U.S. government obligations, U.S. agency securities, securities of other registered investment companies (including exchange-traded funds (ETFs)), cash and cash equivalents, as well as in securities not included in its Index, but which BIM believes will help the Fund track its Index. The Index is sponsored by the Index Provider, which is independent of the Fund and BIM. The Index Provider determines the composition and relative weightings of the bonds in the Index and publishes information regarding the market value of the Index. Industry Concentration Policy. The Fund will concentrate its investments ( i.e., hold 25% or more of its total assets) in a particular industry or group of industries to the same extent that the Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and tax-exempt securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. The degree to which components of the Index represent certain sectors or industries may change over time. Show less