A new exchange-listed bond index fund issued by SPDR (State Street Global Advisors) has been tradable in the XTF segment on Xetra since Friday.
ETF name: SPDR Barclays 0-5 Year US High Yield Bond UCITS ETF
Asset class: bond index ETF
ISIN: IE00B99FL386
Total expense ratio: 0.40 percent
Distribution policy: distributing
Benchmark: Barclays US High Yield 0-5 (ex 144A) Index
The new SPDR bond index fund enables investors to participate in the performance of the market for fixed-income and high-yield corporate bonds denominated in US dollars. The underlying index is composed of corporate bonds with a residual maturity of less than five years and a rating between Ba1/BB+/BB+ and CCC. The bonds must have an outstanding face value of at least US$350 million. However, privately issued “Rule 144A” securities and bonds with a rating of CC/Ca or lower are excluded. The index composition is reviewed monthly with a maximum weighting per issuer of 2%.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 1,010 exchange-listed index funds, making it the largest offering of all European stock exchanges. This selection, together with an average monthly trading volume of €11 billion, makes Xetra Europe’s leading trading venue for ETFs.