The investment
universe for this strategy considers both tax - exempt
municipal bonds as well as US dollar - denominated taxable fixed income securities, including governments, corporate
bonds, asset backed securities and sovereign and supranational entities and taxable
municipals.
The selection
universe for the Index (the «SelectionUniverse») includes U.S. - listed fixed income ETFs advised by SSGA FM or its affiliates that are designed to target exposure to fixed income securities, including U.S. and non-U.S. developed and emerging market
bonds, treasury
bonds, corporate
bonds, high yield
bonds, inflation - protected
bonds, floating rate notes, first lien senior secured floating rate bank loans, U.S nonconvertible preferred stock and other preferred securities, U.S.
municipal bonds and U.S. convertible securities.