The UBS EUR AAA CLO UCITS ETF sub-fund aims to provide investors with a total return, taking into account both capital appreciation and income returns by investing in AAA-rated collateralized loan obligations. This sub-fund is actively managed and uses the J.P. Morgan European Collateralised Loan Obligation Index AAA sub-set (-CLOIE AAA) as a reference for portfolio construction, performance comparison and risk management but is not constrained by it. The majority of the sub-funds securities will be components of the benchmark.