State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced the launch of the …
SPDR® Barclays Capital Short Term International Treasury Bond ETF (Symbol: BWZ) and the SPDR Barclays Capital Mortgage Backed Bond ETF (Symbol: MBG)¹. Designed to provide investors with cost-efficient exposure to precise segments of the fixed income market, the two new SPDR exchange traded funds (ETFs) will begin trading on the NYSE Arca on January 27, 2009.
“Recent market volatility has increased demand for fixed income ETFs that provide efficient and cost-effective exposure to markets that help investors enhance the persification of their fixed income holdings,” said James Ross, senior managing director at State Street Global Advisors.
The SPDR Barclays Capital Short Term International Treasury Bond ETF is designed to track the price and yield performance of the Barclays Capital 1-3 Year Global Treasury ex-US Capped Index. As of December 31, 2008, the Index included 229 issues with remaining maturities of one to three years from 21 investment-grade countries outside of the United States. The SPDR Barclays Capital Short Term International Treasury Bond ETF’s expense ratio is 0.35 percent.
“Offering exposure to 1-3 year international treasuries, the SPDR Barclays Capital Short Term International Treasury Bond ETF expands our offerings in the burgeoning international bond category and provides investors with a new tool to add non-U.S. fixed income exposure to their portfolios, benefit from favorable interest rates overseas, and express a view on the [U.S.] dollar,” Ross continued.
On October 5, 2007, State Street launched the SPDR Barclays Capital International Treasury Bond ETF (BWX). As the first international bond ETF available to US investors, this fund has emerged as one of the fastest-growing fixed income ETFs. As of January 22, 2008, assets under management in the SPDR Barclays Capital International Treasury Bond ETF totaled approximately $906 million.
The SPDR Barclays Capital Mortgage Backed Bond ETF is designed to track the price and yield of the Barclays Capital U.S. MBS Index (the “MBS Index”). The MBS Index measures the performance of the U.S. agency mortgage pass-through segment of the U.S. investment grade bond market. As of December 31, 2008, the Index included 1,727 issues and an average credit quality rating of AAA/Aaa. The SPDR Barclays Capital Mortgage Backed Bond ETF’s expense ratio is 0.20 percent.
State Street Global Advisors is one of the largest ETF providers in the United States and globally. As of December 31, 2008, U.S. assets under management for SPDR ETFs totaled more than $159 billion.
Source: ETFWorld.com -State Street Global Advisor
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