The Fund is an index-tracking UCITS passively managed. The investment objective of the Fund is to track both the upward and the downward evolution of the "BofA Merrill Lynch US High Yield Constrained Index" (the "Benchmark Index") denominated in USD, representative of the performance of the US Dollar denominated sub-investment grade corporate bonds market while minimizing the volatility of the difference between the return of the Fund and the return of the Benchmark Index (tracking error). The anticipated level of tracking error in normal market conditions is indicated in the prospectus. In order to hedge EUR currency risk, the Fund uses a monthly hedging strategy which aims at reducing the impact of a change in the Fund currency against the currency of the Benchmark Index constituents The Fund seeks to achieve its objective via indirect replication by entering into an over-the-counter swap contract (financial derivative instrument, the “FDI”). The Fund may also invest in a diversified portfolio of international debt securities, whose performance will be exchanged against the performance of the benchmark Index via the FDI. Updated composition of the Fund holdings is available on www.lyxoretf.com. In addition, the indicative net asset value is published on the Reuters and Bloomberg pages of the Fund, and might also be mentioned on the websites of the stock exchanges where the Fund is listed. The share currency is the Euro (EUR). Invested financial instruments: FDI, international bonds. Dividend policy: the Fund's amounts available for distribution (if any) will be distributed. Net Asset Value: is calculated daily provided that the relevant stock exchanges are open for trading and orders can be covered. Redemptions: investors are able to redeem their shares on the primary market every valuation day before 18:30 Europe/Luxembourg and sell their shares on the secondary market at any time during trading hours on the Fund listing places.