By: ETFdb
Van Eck Launches Floating Rate Debt ETF (FLTR)
Van Eck is best known in the ETF world for its suite of funds focusing on equities of hard asset producers and emerging markets. But the latest offering from the New York-based issuer targets a corner of the fixed income market that has historically not been readily accessible through exchange-traded products. The new Investment Grade Floating Rate ETF (FLTR) will seek to replicate the Market Vectors Investment Grade Floating Rate Index, a benchmark that consists of dollar-denominated floating rate notes issued by corporations. Component securities must be rated investment grade (BBB- / Baa3) or better by at least one of the three major ratings agencies. Most corporate debt securities pay a fixed coupon over the term of the issue. Floating rate securities, or “floaters,” feature coupons that are pegged to a reference rate, such as 3-month LIBOR, plus a spread. For example, debt may be issued with a coupon equal [...] Click here to read the original article on Related Posts: ETF Pipeline: Floating Rate Bonds, European Bonds, And More State Street Plans Active ETFs March ETF Roundup: Launches, Filings, and Closures Recapping Impressive Innovation In Bond ETF Space Bond ETFs That Steer Clear Of Interest Rate Risk
Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here