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- Page 1: New ETF listings
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NEW LISTINGS
State Street Launches Long-Term
Credit Bond ETF
State Street Global Advisors rolled out
on March 11 what it's calling the longest-term bond exchange-traded fund
available to investors.
The SPDR Barclays Capital Long Term
Credit Bond ETF (NYSE Arca: LWC) is designed to provide access to
investment-grade corporate and noncorporate bonds with maturities of
10 years or more. It comes with an expense ratio of 0.15%.
Entering 2009, LWC's index included 965
issues with an average dollar-weighted maturity of 24.39 years.
SSgA already has another similar fund
that invests in Treasuries (NYSE: TLO). But its average maturity is
18.41 years and its 30-day SEC yield is around 3.84%. By comparison,
the Vanguard Long-Term Bond ETF (NYSE: BLV) had an average maturity
of 20.8 years heading into February. BLV has about $2.9 billion in
assets and an expense ratio of 0.11%. In all, six other long-term
bond ETFs are already on the market. But those focus on Treasuries
and don't take as diversified of an approach as either LWC or BLV.
Given the state of markets lately,
demand has been strong for long-term bond funds. Typically,
longer-termed issues stand to gain more than those with shorter terms
in periods of low-interest rates and bearish stock markets.
Read the prospectus for LWC here.
NEW FILINGS
There were no new filings during the
time period covered.
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