The Strategy seeks an investment return that approximates as closely as practicable, before expenses, the performance of its benchmark index (the "Index") over the long term.
The Index is an alternatively weighted bond index that weights corporate issuers that also have publicly traded equity using factors other than the market value of their outstanding debt. Preserving the same sector weights as the broad Bloomberg Barclays Capital US Corporate Index (Ex Subordinated Debt), this Index uses the financial ratios (return on assets, interest coverage and current ratio) of publicly listed companies to calculate issuer scores that are used as factors to weight specific issuers within each sector.
BENCHMARK: Bloomberg Barclays U.S. Issuer Scored Corporate Bond Index