The fund is passively managed to provide exposure to the investment grade segment of the US corporate bond space. It is an intermediate-term bond fund that adopts a slightly more stringent definition of intermediate by excluding bonds with maturities of under 5 years and over 10. As a result, it has a longer weighted-average maturity than most intermediate-term credit funds. Unsurprisingly, the fund also has a longer effective duration than its peers and boasts one of the highest yields in the segment. Its sector coverage, however, is quite market-like. In all, the fund delivers on its mandate for balanced exposure to the 5-10 year pocket of the investment grade corporate bond space. The fund utilizes a sampling strategy to track its index.