State Street Launches First International Corporate Bond ETF (IBND)
A new international bond ETF has arrived from the folks at State Street Global Advisors (STT). Last week, the SPDR(R) Barclays Capital International Corporate Bond ETF (IBND) began trading on the NYSE. The ETF seeks to track the performance of the Barclays Capital Global Aggregrate ex-USD Bond Index which includes Euro-Dollar, Euro-Yen corporate bonds as well as Canadian bonds.
"As the first US-listed ETF to provide access to international corporate bonds, the SPDR Barclays Capital International Corporate Bond ETF offers a level of fixed income diversification that has not been readily accessible to investors," said James Ross, senior managing director at State Street Global Advisors. "Demand for foreign debt issues, which account for more than 60 percent of the world’s bond supply, is increasing among investors looking to participate in growth outside of the US and strengthen the diversification of their fixed-income portfolios."