State Street Global Advisors [profile] filed with the SEC to roll out the SPDR BofA Merrill Lynch Crossover Corporate Bond ETF, ETF Daily News reports.

This ETF will track the BofA Merrill Lynch US Diversified Crossover Corporate Index, before fees and expenses, while using a "sampling strategy" that does not require the fund to buy all of the index's components. No expense ratio was specified in the filing, but SSgA indicated that this new ETF will trade on the NYSE Arca under the ticker XOVR. 

Edited by: HFD


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