The investment seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the ICE BofA Diversified Core U.S. Preferred Securities Index.
The fund invests at least 80% of its total assets in the securities of its underlying index. It also invests at least 80% of its total assets in preferred securities that are domiciled in, principally traded in or whose revenues are primarily from the U.S. The underlying index is designed to track the broad-based performance of the U.S. preferred securities market.