State Street Global Advisors has launched three new municipal bond exchange-traded funds on the American Stock Exchange, bringing the total number of ETF listings on the Amex to 353.
State Street Global Advisors has launched three new municipal bond exchange-traded funds on the American Stock Exchange, bringing the total number of ETF listings on the Amex to 353.
‘We are pleased to be supporting SSgA as they continue to expand their family of ETFs and provide the investing community with new ways to diversify their portfolios,’ says Scott Ebner, senior vice-president of the Amex ETF Marketplace. ‘These products reflect a growing investor interest in the municipal bond market.’
The SPDR Lehman New York Municipal Bond ETF aims to replicate the Lehman Brothers Managed Money Municipal New York Index, which follows publicly-traded New York municipal bonds from the US dollar-denominated New tracks tax-exempt bond market, including state and local general obligation bonds, revenue bonds, insured bonds and pre-refunded bonds.
The SPDR Lehman California Municipal Bond ETF replicates the Lehman Brothers Managed Money Municipal California Index, which tracks similar publicly-traded California municipal bonds. The SPDR Lehman Short Term Municipal Bond ETF replicates the Lehman Brothers Managed Money Municipal Short Term Index, which tracks publicly-traded, dollar-denominated short-term tax-exempt municipal bonds.
The American Stock Exchange was responsible for bringing the first US exchange-traded fund to market in 1993, and offers trading of equities, ETFs and structured products as well as options on broad-based and sector indices and domestic and foreign stocks.
