Description

The fund is a fund-of-funds that provides exposure to USD-denominated taxable corporate bonds. The fund tracks a market-value-weighted index of investment grade bonds with maturities between 5-10 years. The index is usually rebalanced monthly, it includes fixed rate bonds with USD 750 million minimum amount outstanding and includes the three largest issues from each issue. The fund primarily invests in BMO Mid-Term US IG Corporate Bond Index ETF. As an alternative, it may also to hold index securities or use a sampling methodology. Sibling fund ZIC-CA offers the similar exposure but is a CAD-unhedged version, a USD unit is also available.