PowerShares adds two new ETFs to smart beta line

first_img “As an innovator in the Canadian ETF market, PowerShares Canada recognizes the value of smart beta investment strategies,” said Michael Cooke, Head of Distribution, PowerShares Canada. “Our new additions provide investors with intelligent access to short-term fixed-income investments.” PowerShares 1-3 Year Laddered Floating Rate Note Index ETF (TSX:PFL) seeks to replicate, before fees and expenses, the performance of the FTSE TMX Canada 1-3 Year Laddered Floating Rate Note Index. The index is designed to give investors exposure to a laddered basket of Canadian government and corporate investment-grade floating-rate notes. PFL has a low management fee of just 0.20%. PowerShares LadderRite U.S. 0-5 Year Corporate Bond Index ETF (USB/USB.U) seeks to replicate, before fees and expenses, the performance of the Nasdaq LadderRite 0-5 Year USD Corporate Bond Index. The index is designed to give investors exposure to a laddered basket of U.S.-dollar-denominated, investment-grade corporate bonds. USB has a low management fee of 0.25%. The ticker symbol USB represents Canadian-dollar-denominated units, while USB.U represents U.S.-dollar-denominated units. “The low interest rates paid on government bonds makes short-term U.S. corporate debt and floating-rate notes quite attractive to investors seeking yield,” Cooke said. “Both the laddering structure and the short duration of the underlying securities help reduce interest-rate sensitivity.” Invesco Canada Ltd. operates under three distinct, yet complementary product brands, Trimark, Invesco and PowerShares. Share this article and your comments with peers on social media Companies Invesco Canada Ltd. IE Staff center_img Toronto-based Invesco Canada Ltd. Monday announced the listing of two new PowerShares Canada smart beta exchange-traded funds (ETFs) on the Toronto Stock Exchange. Both ETFs have now closed the initial offerings of units and began trading on TSX Monday. Facebook LinkedIn Twitterlast_img read more