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Corgi FTSE Fallen Angels Bond ETF is a passively managed exchange-traded fund that seeks to track the investment results of the FTSE Time-Weighted US Fallen Angel Bond 5% Issuer Capped Index using representative sampling. Under normal market conditions, the fund invests at least 80% of its net assets in U.S. dollar-denominated below-investment-grade corporate bonds of U.S. and Canadian issuers that were previously rated investment grade and subsequently downgraded, employing a time-weighted methodology that favors more recent downgrades alongside a 5% individual issuer cap.