|
|
|
|
| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
|
|
| Bonds Online |
|
|
| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
|
S&P National Bond Index
|
3.00% |
|
|
S&P California Bond Index
|
2.96% |
|
|
S&P New York Bond Index
|
3.13% |
|
|
S&P National 0-5 Year Municipal Bond Index
|
0.70% |
|
|
| S&P/BGCantor US Treasury Bond |
400.09 |
|
| More |
|
| Income Equities: |
|---|
| Preferred Stocks |
|---|
|
S&P U.S. Preferred Stock Index
|
848.03 |
|
|
S&P U.S. Preferred Stock Index (CAD)
|
636.26 |
|
|
S&P U.S. Preferred Stock Index (TR)
|
1,701.05 |
|
|
S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
|
|
| REITs |
|---|
|
S&P REIT Index
|
174.07 |
|
|
S&P REIT Index (TR)
|
425.30 |
|
|
| MLPs |
|---|
|
S&P MLP Index
|
2,469.58 |
|
|
S&P MLP Index (TR)
|
5,428.50 |
|
|
See Data
|
|
|
|
 |
|
|
|
|
|
|
Foreign Corporate Bond ETF Debuts |
INVESTORS BUSINESS DAILY - May 25, 2010 - by By TRANG HO
A bouquet of new ETFs sprouted this month. Here's an overview of several of them:
• State Street Global Advisors, the second largest ETF provider, released Thursday the first ETF to offer exposure to the global investment-grade corporate bond market.
SPDR Barclays Capital International Corporate Bond ETF (IBND) tracks the Barclays Capital Global Aggregate ex-USD\> $1 Billion: Corporate Bond Index. This marks the eighth foreign bond ETF on the market. The others include only government debt but no corporate debt.
Forty-eight percent of the world's corporate bond exposure is outside the U.S., says Tom Anderson, head of ETF strategy and research at SSGA. IBND offers exposure to 18 developed countries and five currencies, with an 89% weighting to the euro. Returns will be affected by changes in exchange rates.
Financial firms make up 47% of the holdings' issuers, industrials 40% and utilities 12%.
The exchange traded fund holds a representative sample of the bonds in the index, with an average yield of 3.05%. Distributions will be paid monthly. It charges investors 0.56% of assets a year to cover expenses.
• Pax World Management, which specializes in socially and environmentally responsible investing, launched its first ETF last week and said it plans to add two more by the end of the month.
The ESG Shares North America Sustainability Index (NASI) replicates the FTSE KLD North America Sustainability Index, which includes U.S. and Canadian stocks.
It holds 226 primarily blue chip stocks. Like the S&P 500, it's most heavily weighted in financials at 21% and technology at 19%.
NASI charges an annual management fee of 0.50% of assets.
It will compete with iShares KLD Select Social Index (KLD) and iShares FTSE KLD 400 Social Index (DSI), which include stocks that KLD Research & Analytics "determines have positive environmental, social and governance (ESG) characteristics."
Thinly Traded
Both trade a scant 8,800 to 10,600 shares a day on average and have a wide bid/ask spread of 20 cents, according to Morningstar. Both ETFs outperformed the S&P 500 by about 4% in 2009, but they trail it slightly this year.
Pax World plans to release the ESG Shares FTSE Environmental Technologies (ET50) Index (ETFY) on Tuesday. It will hold the 50 largest environmental companies globally by full market cap.
It's floating ESG Shares Europe Asia Pacific Sustainability Index (EAPS) on Thursday. It will combine Europe- and Asia-Pacific-based companies with "superior ESG performance."
• IndexIQ, which specializes in alternative investments, rolled out IQ Taiwan Small Cap (TWON). It includes Taiwan-based companies with at least $150 million in market value that rank in the smallest 15% of the country's market. Stocks must trade at least $1 million in shares a day and at least 250,000 shares a month.
Taiwan's gross domestic product shrank 1.9% last year, but is expected to grow 4.3% to 4.7% a year from 2010 to 2013, according to Moody's Economy.com. Meanwhile, industrial production is estimated to rise 6.1% to 9% during that period. The fund will rebalance quarterly.
• State Street Global Advisors introduced a new ETF: SPDR Nuveen Barclays Capital Build America Bond (BABS). Nuveen Asset Management serves as subadviser on the fund. It charges 0.35% of assets a year for expenses and will compete with PowerShares Build America Bond Portfolio (BAB).
The fund tracks the Barclays Capital Build America Bond index. It includes 34 taxable-municipal bonds with an average coupon rate of 6.4%. Dividends are distributed monthly.
Build America Bonds were created under the American Recovery and Reinvestment Act of 2009. Under the economic stimulus plan, the federal government subsidizes 35% of the interest payments to lower borrowing costs for state and local governments to encourage them to develop new projects.
Attract More Investors
Build America Bonds were intended to attract more investors by reaching out to those who normally would not buy tax-exempt bonds.
They offer a higher yield than other municipal bond indexes, but are taxable. The tax-free portfolio SPDR Nuveen Barclays Capital Municipal Bond (TFI) has an average coupon of 4.88%. It also has a lower expense ratio of 0.2%.
Build America Bonds accounted for 26%, or $26.78 billion, of the $1.02 trillion in munis issued in Q1, according to the Securities Industry & Financial Markets Association.
|
|
|
|
|
|
| Partner Market Place |
|
|
|
| Stuff to look at |
Yield and Income Newsletter: A must have for income investors. subscribe NOW
S&P Commentary and Newsletters: S&P
|
|
| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
Keep up with monthly, in-depth coverage of fixed income market strategies, commentary, and insights as seen by our sources. Sign up for the free BondsOnline Advisor now!
Unsubscribe here [+] |
|
|
|
|
|
|
|
|
