The investment seeks to track the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year. 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 a broad, diverse, market value-weighted index designed to measure the performance of bonds denominated in local currencies and issued by foreign governments in developed market countries outside the United States that have a remaining maturity of greater than one year and less than or equal to three years. The fund is non-diversified.