SSgA Unveils Build America Bond ETF

A news release said the municipal bond SPDR is the first new exchange-traded fund (ETF) developed under a sub-advisory agreement between State Street Global Advisors and Nuveen Investments subsidiary, Nuveen Asset Management. Its annual expense ratio is 0.35%.

Designed to provide investors with exposure to Build America Bonds, which can offer an attractive risk/reward potential when compared with equivalently rated corporate debt, the SPDR Nuveen Barclays Capital Build America Bond ETF seeks to track the performance of the Barclays Capital Build America Bond Index. As of April 30, the index provides exposure to 85 issues.

The interest from Build America Bonds is subsidized by the U.S. Treasury.