The DoubleLine Multi-Sector Income ETF (DMX) is a highly flexible fund designed to provide investors with broad exposure to the U.S. fixed-income market. Its investment strategy is actively managed, adapting dynamically to prevailing market, economic, and geopolitical developments. The portfolio managers possess the discretion to allocate capital across a diverse array of fixed-income sectors. They meticulously adjust key portfolio characteristics such as credit risk, maturity profiles, and interest rate sensitivity (duration) as market conditions evolve. Typically, the fund aims to maintain an effective duration within a target range of zero to seven years. A disciplined, risk-controlled methodology underpins the portfolio's management. This approach involves a comprehensive analysis of sector performance, rigorous individual security selection, prevailing interest rate trends, the dynamics of the yield curve, and overall market liquidity. To optimize performance and manage various exposures, the fund utilizes sophisticated investment techniques, including short sales, when-issued transactions, delayed delivery, forward commitments, and tools designed to enhance leverage, such as dollar rolls. Derivatives are also an integral component, employed to manage overall risk, duration, and market exposure. Furthermore, DMX maintains the flexibility to invest in other exchange-traded funds and funds managed by affiliated entities. All investment decisions, whether to buy or sell, are informed by a thorough assessment of issuer creditworthiness, identified market opportunities, strategic tactical adjustments, and the advisor's proprietary forward-looking market outlook.