The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Exchange-Listed Fixed & Adjustable Rate Non-Financial Preferred Securities Index (the "Preferred Securities Index").
The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index is comprised of U.S. exchange-listed hybrid debt, preferred stock and convertible preferred stock issued by non-financial corporations. The fund is non-diversified.
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