DABS seeks long-term total return while striving for current income by investing in corporate and government asset-backed securities denominated in USD. The fund aims to build a portfolio with an average effective duration of 1 to 6 years, composed predominantly of investment grade securities but may include junk bonds of up to 20%. Investments included may be backed by installment sales, leases of real assets, receivables from credit and finance agreements, home equity sharing agreements, loans of any other type, and CDOs. Investments may vary depending to changing market, financial, economic, and political factors and events. As an actively managed ETF, the fund manager has full discretion to adjust the portfolio at any time. As such, allocation to different security types, sectors, and issuers may change over time. The fund may also invest in inverse floater securities and interest-only and principal-only securities.