Description

The fund is passively managed to provide exposure to a broadly diversified range of floating-rate bonds from Canada, which may include corporate and government bonds. Investment-grade bonds should have a remaining term to maturity of at least three months. Securities are removed if the portfolio’s remaining effective term to maturity declines to less than three months. Bonds that get downgraded below the credit rating of “A” are removed after 30 days. The index uses a rules-based methodology, which changes over time, reflecting developments in the market. The index is weighted by market value and rebalanced daily.