The fund seeks to earn income while preserving capital through an actively-managed portfolio of debt securities of government and corporate issuers located anywhere in the world. The types of securities include investment-grade corporate debts, high-yield corporate debts, and other evidences of indebtedness, including loans. The portfolio adviser targets an asset mix of 50% investment grade and 50% high yield. Securities are selected using an optimized approach that considers fundamental economic analysis of each country, currency fundamentals and interest rate anticipation. The fund also invests in other ETFs to gain the desired debt exposure.