This exchange-traded fund (ETF) provides investors with exposure to a diversified portfolio of Australian dollar-denominated floating rate debt securities. These securities, typically issued by corporations and financial institutions, have interest rates that adjust periodically based on a benchmark rate, such as the Bank Bill Swap Rate (BBSW). This feature distinguishes them from fixed-rate bonds and aims to protect investors from rising interest rate environments, as their yield adjusts upwards with market rates. The fund's objective is to track the performance of a specific index that represents this segment of the Australian debt market, offering a relatively low-risk income stream compared to equities. This index typically selects securities that meet certain eligibility criteria, including credit quality and minimum issue size. The ETF provides investors access to a broad range of these floating rate securities, which can be difficult for individual investors to obtain directly. By investing in this ETF, investors can achieve portfolio diversification and reduce their exposure to interest rate risk, making it a potentially attractive option for those seeking stable income and a buffer against rising rates. The fund is designed to distribute income to investors regularly, further enhancing its appeal as an income-generating investment. The underlying holdings are largely composed of debt obligations that often carry an investment-grade credit rating, although some may have a lower rating. The fund’s performance is closely tied to the prevailing interest rate environment in Australia. It operates with a management expense ratio that is representative of similar fixed income funds. The ETF generally aims to mirror the fluctuations in the index it tracks rather than to outperform it. Investors in this fund would primarily be looking for reliable returns and income, especially during periods when interest rates are increasing or expected to rise.