HYXF is passively-managed to invest in high yield, USD-denominated corporate bonds issued by developed market countries. Index construction begins with the Bloomberg US Corporate High Yield Index (parent index), it includes bonds that have USD 400 million or more of outstanding face value. Using MSCI ESG research, companies rated poorly for ESG controversy score are excluded. In addition, the underlying index excludes companies involved in fossil fuel-related activities and other activities such as: genetically modified organisms, alcohol, gambling, nuclear weapons, civilian firearms, palm oil, for profit prisons, and predatory lending. Firms that pass the screenings are then rated based on 37 key ESG factors to select those with a high average rating. Selected securities are weighted by market value, with a 2% cap on individual issuers. Prior to Sep. 15, 2020, the fund tracked the Markit iBoxx USD Liquid High Yield ex-Oil & Gas Index and traded under the ticker: HYXE.