The Fund is an actively managed exchange-traded fund that seeks to achieve its investment objective by investing, under normal circumstances, at least 80 percent of its net assets, plus any borrowings for investment purposes, in below-investment-grade commonly known as junk or high yield fixed-income securities, such as bonds and bank loans. The Fund invests in U.S. treasury securities, investment grade bank loans also known as senior floating rate interests, and preferred securities. The Fund's investments include securities of foreign issuers, including those located in developing or emerging markets. Under normal circumstances, the Fund maintains an average portfolio duration that is within 25 percent of the duration of the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index, which as of September 30, 2023 was 3.69 years. The Fund is not managed to a particular maturity.