State Street Global Advisors
, one of the Big Three ETF players, last week communicated its plan to roll out a floating-rate ETF
The September 16 filing did not include the expense ratio for the planned SPDR Barclays Capital Investment Grade Floating Rate ETF
Oliver Ludwig, who covered the filing,
that: "the floating-rate debt ETF trend
began in earnest in early March with the launch of the PowerShares Senior Loan Portfolio
(NYSEArca: BKLN). BKLN, which has gathered almost $160 million, holds noninvestment-grade bank loans."
Others that offer floating rate debt ETFs include Van Eck, whose Market Vectors Investment Grade Floating Rate ETF attracted $9.6 million of AUM since its spring launch, and iShares, whose iShares Floating Rate Note Fund has $64.2 million of AUM.
Armie Margaret Lee
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