The investment seeks to replicate, net of expenses, the BofA Merrill Lynch Emerging Markets Diversified Corporate Index. The index is designed to measure the performance of U.S. dollar-denominated emerging markets corporate senior and secured debt publicly issued in the U.S. domestic and Eurobond markets. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. It may also may invest in debt securities that are not included in the index, cash and cash equivalents or money market instruments. The fund is non-diversified.