Strategy. To pursue its goal, the fund invests in investment grade, short-term, U.S. dollar denominated debt securities issued by U.S. and foreign issuers, such as: commercial paper, including asset-backed commercial paper ? promissory notes ? certificates of deposit and time deposits ? variable- and floating-rate debt securities ? corporate bonds ? municipal bonds ? bank notes and bankers acceptances ? repurchase agreements ? obligations that are issued by the U.S. government, its agencies or instrumentalities, including obligations that are not guaranteed by the U.S. Treasury, such as those issued by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (U.S. government securities) ? The fund is an actively managed exchange-traded fund and therefore does … Show more… To pursue its goal, the fund invests in investment grade, short-term, U.S. dollar denominated debt securities issued by U.S. and foreign issuers, such as: commercial paper, including asset-backed commercial paper ? promissory notes ? certificates of deposit and time deposits ? variable- and floating-rate debt securities ? corporate bonds ? municipal bonds ? bank notes and bankers acceptances ? repurchase agreements ? obligations that are issued by the U.S. government, its agencies or instrumentalities, including obligations that are not guaranteed by the U.S. Treasury, such as those issued by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (U.S. government securities) ? The fund is an actively managed exchange-traded fund and therefore does not seek to replicate the performance of any specific index. The fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. The fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share. It is the funds policy that under normal circumstances it will invest at least 80% of its net assets (including, for this purpose, any borrowings for investment purposes) in income-producing instruments. For purposes of this policy, income-producing instruments means instruments that the investment adviser expects to pay interest, dividends, or other payments or distributions at any time during the life of the investment. With respect to the 80% policy, the fund will notify its shareholders at least 60 days before changing the policy. The fund will normally maintain an effective duration of one year or less. Pursuant to a fundamental policy adopted by the fund, it will concentrate its investments (i.e., hold more than 25% of its total assets) in securities issued by companies in the group of industries representing the financials sector. Under normal circumstances, the fund will invest only in securities, that at the time of purchase, are rated investment grade (i.e., BBB- or higher by S&P Global Ratings and/or Fitch Ratings, Inc. (Fitch), or Baa3 or higher by Moodys Investors Service, Inc. (Moodys), or, if unrated, determined by the funds investment adviser to be of equivalent quality. For temporary defensive purposes during unusual market conditions, the fund may invest up to 100% of its assets in cash, cash equivalents or other high quality short-term investments. Show less