SCHR delivers intermediate exposure (3-10 year maturity) to US Treasurys. Most of the times, roughly 50% of its coverage is in the 3-5 year range, with the remainder distributed over the 5-10 year baskets. This bias toward the longer maturities raises SCHR's weighted average maturity and duration considerably above the broader market, creating more interest-rate risk and a higher yield. These attributes align with SCHR's 3-10 year focus. The underlying index undergoes monthly updates, it includes fixed-rate and non-convertibles and excludes US Treasury stripped securities. SCHR uses sampling techniques which purchases securities that matches the return and risk characteristics of the Underlying Index.
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