A new exchange-listed bond index fund issued by SPDR (State Street Global Advisors) – the SPDR Barclays 0-5 Year US High Yield Bond UCITS ETF – is now tradable in the XTF segment on Xetra.
The new SPDR bond index fund enables investors to participate in the performance of the market for fixed-income and high-yield corporate bonds denominated in US dollars.
The underlying index is composed of corporate bonds with a residual maturity of less than five years and a rating between Ba1/BB+/BB+ and CCC. The bonds must have an outstanding face value of at least USD350m. However, privately issued “Rule 144A” securities and bonds with a rating of CC/Ca or lower are excluded.
The index composition is reviewed monthly with a maximum weighting per issuer of two per cent.
