SKOR is passively managed to provide investors a smart beta-type exposure to the intermediate-term, investment-grade corporate space. The fund's underlying index uses a proprietary methodology based on the combined value and quality scores to select and weight securities. The value score is the securitys relative valuation based on market and fundamental measures. The quality score is based on financial activities, profitability and solvency. The index looks to select higher quality securities that are trading at a level perceived to be a better value than their fundamentals imply. The objective of the fund is to provide a higher total return than the broader investment-grade corporate bond market. Eligible bonds must have final maturity between one to ten years. Prior to May 1, 2020, SKOR tracked the Northern Trust Credit-Scored US Corporate Bond Index.
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