State Street Global Advisors (SSgA), the investment management arm of State Street Corporation, has just introduced the SPDR Barclays Capital Long Term Credit Bond ETF (LWC).
LWC provides market exposure to long- term (10-plus years) investment grade bonds, and the fund’s performance and yield are linked to the Barclays Capital U.S. Long Credit Index.
The underlying index contains investment grade corporate and non-corporate credit bonds that are dollar denominated and have a remaining maturity of greater than or equal to 10 years. As of December 31, 2008, the index included 965 issues with an average dollar-weighted maturity of 24.39 years.