The investment seeks to track the price and yield performance, before fees and expenses, of an index that measures the performance of the market for floating rate public obligations of the U.S. Treasury. The fund invests at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the Bloomberg U.S. Treasury Floating Rate Bond Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The index is designed to measure the performance of floating rate public obligations of the U.S. Treasury. It is non-diversified.