An ETF issuer announced that the …
SPDR® Barclays Capital Intermediate Term Credit Bond ETF (Symbol: ITR) will begin trading on the NYSE Arca on February 11, 2009. Its annual expense ratio is 0.15 percent.
Designed to provide precise, low-cost access to investment grade credit bonds, the SPDR Barclays Capital Intermediate Term Credit Bond ETF seeks to track the price and yield performance of the Barclays Capital Intermediate Credit Index. The Index includes investment grade corporate and non-corporate credit bonds that are dollar denominated and have a remaining maturity of greater than or equal to 1 year and less than 10 years. As of December 31, 2008, the Index included 2,512 issues with an average credit rating of A and dollar-weighted maturity of 5.20 years.
“Developed in response to increasing demand from investors seeking access to intermediate credit securities, a segment of the fixed-income market that has historically offered higher yields than U.S. Treasuries, the SPDR Barclays Capital Intermediate Term Credit Bond ETF is a key addition to our growing family of fixed income SPDR ETFs,” said James Ross, senior managing director at State Street Global Advisors. “With current yield spreads edging wider than they have been in more than 15 years, investment-grade corporate bonds are an attractive asset classes for investors seeking to further diversify their fixed income holdings or hedge against future interest-rate hikes.”
State Street Global Advisors has managed fixed-income index funds since 1984. As of December 31, 2008, the firm manages $270 billion in fixed income assets globally, and SSgA Funds Management, Inc., the adviser to the SPDR Barclays Intermediate Term Credit Bond ETF manages more than $4 billion across 13 fixed income SPDR ETFs that provide precise access to core segments of the bond market.
State Street Global Advisors is one of the largest ETF providers in the United States and globally. U.S. assets under management for SPDR ETFs totaled more than $159 billion as of December 31, 2008.
Source: ETFWorld.com-State Street Global Advisors
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