Fund Description

The fund typically invests at least 65% of its net assets in investment grade, U.S. dollar-denominated debt securities, as assessed at the time of purchase; a debt security is considered investment grade when rated BBB- or higher by S&P or an equivalent NRSRO rating, or if unrated, considered of comparable credit quality by the fund's investment adviser. It invests mainly in bonds issued by U.S. corporations, the U.S. Government or its agencies, and GSEs, and may invest in trust preferreds, taxable municipals and loans. It may invest in ABS/MBS including CMOs and CMBS, up to 35% in high yield, and up to 25% in foreign debt including ADRs; duration is 1-3 years and it may use Treasury futures, forwards, money markets and lending, applying ESG criteria via The Calvert Principles.