FlexShares is commencing trade in the FlexShares iBoxx 3-Year Target Duration TIPS Index Fund ETF (TDTT) on Thursday, ETF Daily News reports. The index measures the performance of Treasury inflation-protected securities (TIPS) as determined by Markit iBoxx’s proprietary index methodology targeting an average duration of three years.
The fund will mainly invest under normal circumstances at least 80 percent of its total assets in the securities of the underlying index. The fund may also invest up to 20 percent of its assets in cash and cash equivalents, such as shares of money market funds and options.
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