| NASDAQ Exchange | United States Country |
The fund described focuses on investing at least 80% of its net assets, along with any borrowed funds for investment purposes, in high-yield bonds, also known as junk bonds. These are debt securities that carry a higher risk of default compared to more stable, investment-grade bonds. Junk bonds offer higher yields to compensate for this increased risk. This investment strategy primarily targets U.S. securities, positioning the fund within a specific segment of the financial market that appeals to investors looking for potentially higher returns accompanied by a higher risk level.
The fund provides a single main product or service, characterized by its focus on high-yield, high-risk debt securities. Below is a detailed description of this offering: