The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Markit iBoxx Global Developed Markets ex-US High Yield Index (the "underlying index"). The fund generally invests at least 80% of its assets in the securities of the underlying index and in investments that provide substantially similar exposure to the securities in the underlying index. The underlying index is designed to provide a broad representation of the global ex-U.S. dollar high yield corporate bond market. The fund is non-diversified.