DWS has launched three new fixed income ETFs on Deutsche Börse Xetra that provide investors with ultra-short-duration exposure to bonds from German or eurozone sovereign issuers.

DWS has introduced a new suite of ultra-short bond ETFs in Europe.

The Xtrackers II Germany Government Bond 0-1 UCITS ETF (XGO1 GY) tracks the iBoxx EUR Germany 0-1 Index which consists of euro-denominated bonds issued by the German government with a remaining term of up to one year. Each bond must have a minimum amount in circulation of €1 billion. Constituents are weighted by market value.

The Xtrackers II Eurozone Government Bond 0-1 UCITS ETF (XEO1 GY) tracks the iBoxx EUR Sovereigns 0-1 Capped Index which consists of investment-grade, euro-denominated government bonds issued in the eurozone. Maturity and amount outstanding limits of one year and €1bn also apply. Constituents are weighted by market value while capping the weight of any single country at 35%. As of the end of August, the index’s largest country weights were Italy (27.4%), Germany (22.3%), France (19.8%), Spain (14.3%), and the Netherlands (4.2%).

The Xtrackers II iBoxx Eurozone Government Bond Yield Plus 0-1 UCITS ETF (XYPO GY) tracks the iBoxx EUR Sovereigns Yield Plus 0-1 Index which consists of investment-grade, euro-denominated government bonds from the five eurozone countries with the highest bond yields – currently Belgium, Finland, France, Italy, and Spain. Only bonds with a maturity of up to one year and current assets of at least €2bn are considered. As of the end of August, the index’s largest country weights were Italy (39.9%), France (28.5%), Spain (20.8%), and Belgium (4.2%).

Each ETF comes with an expense ratio of 0.07%. Income is accumulated within the portfolios.