Daily ETF Watch: Int’l Junk Fund Launch
SSgA is bringing its international junk bond ETF to market today.
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.