ProShares has launched the ProShares German Sovereign/Sub-Sovereign ETF, the first ETF in the United States focused on sovereign and sub-sovereign debt from Germany.
Germany has the world’s third-largest public debt market and is widely recognised for its fiscal strength. The ETF lists on NYSE Arca today.
GGOV seeks to match the performance of Markit iBoxx EUR Germany Sovereign & Sub-Sovereign Liquid Index, before fees and expenses.
"Many investors have fixed income portfolios concentrated in high credit quality US bonds," says Michael L Sapir (pictured), Chairman and CEO of ProShare Advisors LLC, ProShares’ investment advisor. "This ETF can help these investors manage risk by adding diversification through international bond exposure."