• Page 1: New ETF listings
• Page 2: The complete list of ETFs (and ETNs) in registration

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NEW LISTINGS

Van Eck Launches High-Yield Muni ETF

On Feb. 5, Van Eck launched the Market Vectors High-Yield Municipal Index ETF (NYSEArca: HYD) the first high-yield municipal bond fund to hit the ETF marketplace. The only available high-yield muni funds have been either in the closed-end marketplace or through traditional open-end mutual funds.

HYD is expected to wind up with an annual expense ratio of 0.35%.The average high-yield muni mutual fund charges 0.63%, according to Morningstar.

The new ETF’s index was created by Barclays and had about 4,204 different bonds entering 2009 with a market value of $101 billion. The average coupon in the index was about 5.82% and the average duration was 8.63 years. It also started out with a very attractive yield of 9.35%.

Read the prospectus for HYD here.

State Street Rolls Out Intermediate-Term Fund

State Street Global Advisors recently launched an intermediate-term bond exchange-traded fund focused on investment-grade corporates and government debt. The SPDR Barclays Capital Intermediate Term Credit Bond ETF (NYSEArca: ITR) started trading on Wednesday. It's expected to come with an annual expense ratio of 0.15%. It will follow an index of more than 2,500 bonds and a weighted maturity of 5.2 years.

While ITR enters an investment-grade intermediate bond field with a few established competitors, the new ETF does track an index that offers somewhat different investment features than its rivals. Although it can invest in agency and related noncorporate securities, ITR's holdings at least initially are heavily slanted toward investment-grade corporate bonds. Two sectors, Industrials (37.4%) and Financials (36.2%), dominated constituents of the ETF's underlying index. Agencies and local authorities made up a combined 8.6%. It also has a sprinkling of some sovereign debt.

Read the prospectus for ITR here.

NEW FILINGS

Van Eck Looks To Expand Fixed-Income Offerings

Van Eck Global has filed a prospectus for two new fixed-income ETFs. Although the firm’s current fixed-income lineup includes only municipal bond ETFs, the latest filing is for funds covering bank loans and convertible bonds.

Not a lot of details are given. The filing refers to the funds as the Market Vectors Fixed Income I ETF and the Market Vectors Fixed Income II ETF. The former is set to be tied to an unnamed index that tracks bank loans; the loans must be USD-denominated senior secured first liens and have initial terms of at least one year, in addition to meeting an as-yet-undetermined minimum spread.

Meanwhile, the latter ETF tracks another unnamed index, this one covering convertible bonds meeting certain size and liquidity requirements; pre-IPO bonds, matured convertibles, called convertibles, bonds converted or repurchased in full and mandatory convertibles are all excluded from the index.

Both funds likely would be the first of their respective types in the ETF market if they begin trading soon.

There was no indication of what exchange the ETFs might list on or what kind of expense ratios they might charge.

Read the filed prospectus for the Van Eck funds here.

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