Nearly two months ago, Nuveen Investments
jumped into the ETF business by way of a deal with State Street Global Advisors
, under which Nuveen
became the sub-adviser to SSgA's municipal bond ETFs.
Yesterday, the two firms rolled out a new ETF, the first product they jointly developed since unveiling their deal in March. The new offering, SPDR Nuveen Barclays Capital Build America
, started trading on the NYSE Arca and sports an expense ratio of 35 basis points.
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