Daily ETF Watch: Int’l Junk Fund Launch

March 13, 2014

SSgA is bringing its international junk bond ETF to market today.

State Street Global Advisors, the ETF issuer behind the $10 billion SPDR Barclays High Yield Bond ETF (JNK | B-61), today is launching an international version of the successful flagship high-yield credit fund.

The fund is launching at a time when fixed income is currently out of favor as investors scan riskier assets in the equity space for higher yields as the S&P 500 Index continues to reach new highs. Investors have been largely trimming their exposure to Treasurys in recent weeks, anticipating a rise in interest rates.

The SPDR Barclays International High Yield Bond ETF (IJNK) will have a primary listing on the New York Stock Exchange’s electronic platform and will hold high-yield corporate credits from a variety of non-U.S. issuers.

According to a regulatory filing, IJNK has an annual expense ratio of 0.40 percent, or $40 for every $10,000, which is what its predecessor fund, JNK, costs.

There are no further filings or launches today.


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