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June 25, 2012 at 07:00 AM EDT
State Street Debuts Crossover Bond ETF
The innovation continues to impress in the ETF industry, particularly in the fixed income corner of the market. Earlier this week, State Street launched two additional bond ETFs, including a fund that targets both major “buckets” of the corporate bond market and a fund that will focus on debt of emerging markets companies. Under The Hood: XOVR XOVR Facts Average Coupon 6.56% Average Credit Quality BA1 Modified Adjusted Duration 5.70 years Yield To Maturity 4.89% Number of Holdings 3,027 The SPDR BofA Merrill Lunch Crossover Corporate Bond ETF (XOVR) will seek to replicate the performance of an index that includes both investment grade and junk corporate bonds. Whereas most corporate bond ETFs focus specifically on one “quality level” within the bond universe, XOVR will hold a portfolio comprised of both high and low quality debt securities. In other words, it can be thought of as a stop along the risk/return [...] Click here to read the original article on ETFdb.com. Related Posts: ETFs: The $10 Billion Club PowerShares Launches Fundamental Corporate Bond ETF (PFIG) Inverse Bond ETFs: Highlighting All The Options March ETF Roundup: Launches, Filings, and Closures ProShares Debuts Short Junk Bond ETF (SJB)
The innovation continues to impress in the ETF industry, particularly in the fixed income corner of the market. Earlier this week, State Street launched two additional bond ETFs, including a fund that targets both major “buckets” of the corporate bond market and a fund that will focus on debt of emerging markets companies. Under The Hood: XOVR XOVR Facts Average Coupon 6.56%  Average Credit Quality BA1 Modified Adjusted Duration 5.70 years Yield To Maturity 4.89% Number of Holdings 3,027 The SPDR BofA Merrill Lunch Crossover Corporate Bond ETF (XOVR) will seek to replicate the performance of an index that includes both investment grade and junk corporate bonds. Whereas most corporate bond ETFs focus specifically on one “quality level” within the bond universe, XOVR will hold a portfolio comprised of both high and low quality debt securities. In other words, it can be thought of as a stop along the risk/return [...]

Click here to read the original article on ETFdb.com.

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