Invesco has cross-listed three PowerShares fixed income ETFs onto Borsa Italiana, tradable in euros.
The ETFs, which track Bloomberg Barclays indices, offer exposure to dollar-denominated corporate bonds, euro-denominated corporate bonds and dollar-denominated emerging market sovereign bonds.
They first made their debut in November 2017, launching on either the London Stock Exchange or Deutsche Börse.
The PowerShares USD Corporate Bond UCITS ETF (PUIG IM) tracks the Bloomberg Barclays USD IG Corporate Liquidity Screened Bond Index. The average rating of underlying securities is A-, with industrials accounting for around 60% of the index’s sector allocation. Investors can currently expect a yield to maturity of approximately 3.1%. The fund’s total expense ratio (TER) is 0.16%.
PUIG also trades on the London Stock Exchange, where it trades in US dollars. Since inception, the ETF’s assets under management have grown to $100 million, an impressive feat considering the fund launched less than two months ago.
The PowerShares Euro Corporate Bond UCITS ETF (PSFE IM) tracks the Bloomberg Barclays Euro Corporate Bond Index. The average rating of underlying assets is A-, with industrials accounting for just over half of the sector allocation. Current yield to maturity is approximately 0.61%. The fund’s TER is also 0.16%.
PSFE also trades on Deutsche Börse. Since inception, AUM has grown to €83m.
The PowerShares Emerging Markets USD Bond UCITS ETF (PEMD IM) tracks the Bloomberg Barclays Emerging Markets USD Sovereign Index. The average rating of underlying securities is BB+, with a yield to maturity of 4.9%. The top five country holdings are Argentina, Indonesia, Turkey, Mexico and Saudi Arabia. PEMD’s TER is 0.35%.
PEMD is also available on London Stock Exchange, where it trades in US dollars. It has also been relatively successful in growing fund assets, with AUM now standing above $100m.