The Fund is a passively managed Exchange-Traded Fund (ETF), which aims to track the performance of the ICE BofA Diversified Core Plus Fixed Rate Preferred Securities Net Total Return Index (the Index), less fees, expenses and transaction costs. To achieve the investment objective the Fund will, as far as possible and practicable, hold all the securities in the Index in their respective weightings. The Index aims to measure the performance of fixed rate US Dollar denominated preferred securities issued in the US domestic market.