Description

The fund is passively managed to provide exposure to debt securities issued by governments in emerging countries that are denominated in US dollars. Sovereign and quasi-sovereign debt securities from emerging countries with at least 2.5 years to maturities are selected. The fund removes securities with smaller debt outstanding and those that are closer to maturity. To diversify, weights of larger index countries are limited by only including a specified portion of those countries' eligible current face amount of debt outstanding, aiming to provide even distribution of weights across countries in the portfolio. The fund hedges its USD currency exposure back to CAD. The index is rebalanced on the last US business day of each month.