ETF tracks high yield corporate bonds from North America…
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A new bond index fund from the ETF offering issued by PowerShares Global Funds has been tradable on Xetra and Börse Frankfurt since Tuesday.
ETF name: PowerShares US High Yield Fallen Angels UCITS ETF
Asset class: bond index ETF
Total expense ratio: 0.45 percent
Distribution policy: distributing
Benchmark: Citi Time-Weighted US Fallen Angel Bond Select Index
The PowerShares US High Yield Fallen Angels UCITS ETF enables investors to participate in the performance of US-dollar-denominated bonds known as “fallen angels” issued by companies based in the USA or Canada. These are bonds that have been downgraded from an investment-grade rating or were classified as high-yield in the past and, following an upgrade to investment-grade rating, were downgraded again. The bonds must have a residual maturity of at least one year. The weight in the index is based on a time factor, i.e. bonds that have only recently become fallen angels have a higher weight.