Description

The objective of the Fund is to track the performance of the fixed-rate, U.S. Dollar-denominated high yield corporate bond market.The environmental and social characteristics promoted by the Fund is the Index designated by the Fund and more specifically the R-Factor scores which are used in the Index construction. The RFactor approaches ESG scoring by capturing the full spectrum of “financially material” metrics to isolate long-term sustainability drivers of value across environmental, human capital, social capital, business model, leadership and corporate governance dimensions. In addition, the Index excludes issuers that are tagged with extreme event controversies, controversial weapons, United Nations Global Compact principles (“UNGC”) violations, civilian firearms, thermal coal extraction and tobacco companies.