Guggenheim Investments has changed the name of the Guggenheim Enhanced Short Duration ETF to the Guggenheim Ultra Short Duration ETF. The actively managed fund, which has over $1.1 billion in assets under management, will keep its ticker symbol (NYSE Arca: GSY).

William H. Belden, managing director and head of ETF business development at Guggenheim Investments.

According to Guggenheim, the name change more accurately describes the fund’s investment strategy which is to hold a diversified portfolio of bonds with varying maturities, with an average duration of less than one year. There will be no change in the actively managed fund’s investment objective, investment strategy or portfolio management team.

The fund is categorized in Morningstar’s “Ultrashort Bond Category” due to its investment guidelines and portfolio holdings.

“Guggenheim’s actively managed approach allows the portfolio investment team the latitude to express its market views, while still adhering to the fund’s stated objectives—offering investors enhanced yield opportunities within a risk-managed approach,” said William H. Belden, managing director and head of ETF business development for Guggenheim Investments.

“GSY can be used for tactical cash positions to deliver potentially greater return than cash as well as liquidity for non-immediate needs. It also may provide the flexibility to invest in floating-rate securities, which reset based on current interest rates, strategically positioning the fund for a changing interest-rate environment.”

It has a total expense ratio (TER) of 0.28%.