Description

The fund is a passively managed ETF that tracks an index of investment-grade government bonds with maturities between one to five years. Investments are primarily in securities of one or more iShares ETFs and/or Canadian fixed income securities. Using a sampling methodology in tracking the index, the fund invests in a sample of securities that collectively have a similar investment profile to the underlying index. The fund consists of semi-annual pay, fixed-rate government bonds with remaining maturity of between one and six years. The index allocates its holdings equally across five distinct effective maturity groups. Each effective maturity group covers a one-year period and together the groups cover a contiguous five-year period. The index is rebalanced annually.