State Street Global Advisors, one of the Big Three ETF players, last week communicated its plan to roll out a floating-rate ETF [ SEC filing].

The September 16 filing did not include the expense ratio for the planned SPDR Barclays Capital Investment Grade Floating Rate ETF.

IndexUniverse's Oliver Ludwig, who covered the filing, noted that: "the floating-rate debt ETF trend began in earnest in early March with the launch of the PowerShares Senior Loan Portfolio (NYSEArca: BKLN). BKLN, which has gathered almost $160 million, holds noninvestment-grade bank loans."

Others that offer floating rate debt ETFs include Van Eck, whose Market Vectors Investment Grade Floating Rate ETF attracted $9.6 million of AUM since its spring launch, and iShares, whose iShares Floating Rate Note Fund has $64.2 million of AUM.  

Edited by: Armie Margaret Lee


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