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FTBFX

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FTBFX is diversified across debt securities, including investment-grade, high-yield, and emerging markets. The fund aims to balance interest rate risk similar to its benchmark, the Bloomberg U.S. Universal Bond Index, with up to 20% invested in lower-quality debt. It includes leverage through derivatives and can invest in both domestic and foreign issuers, adjusting exposure to credit, currency, and economic risks for optimal valuation.