VBIL

The Fund seeks to track the performance of a market-weighted Treasury index with an ultra-short-term dollar-weighted average maturity. The Fund employs an indexing investment approach designed to track the Bloomberg U.S. Treasury Bills 0-3 Months Index (the Index). The Index includes U.S. Treasury Bills (not including inflation-protected bonds, floating rate securities, and certain other security types) that have maturities of 3 months or less. In seeking to track the Index, the Fund may also invest in debt securities that are not included in the Index, cash and cash equivalents, or money market instruments, such as repurchase agreements and money market funds. The Fund seeks to maintain a dollar-weighted average maturity consistent with that of the Index, which, under normal circumstances, is expected to be under 3 months.