The investment objective of the Fund is to track the performance of the Markit iTraxx Europe 5-year Total Return Index. The Index measures the return for a credit protection seller holding the most current issue of the iTraxx Europe credit derivative transaction with a term of 5 years. The performance of the Index will depend on several factors including the market value of 5-year iTraxx Europe credit derivative transactions, returns generated by selling credit protection in respect of the issuers included in the Index and losses paid following defaults by those issuers.