SSgA and Nuveen launch Build America Bond ETF

The SPDR Nuveen Barclays Capital Build America Bond ETF, which has a total expense ratio of 0.35%, is the first to be released under a sub-advisory agreement between SSgA and Nuveen Asset Management. The fund tracks the Barclays Capital Build America Bond index and is designed to offer an attractive risk-reward profile, in comparison with equivalently rated corporate debt. The underlying index comprises 85 bond issues, as of 30 April. SSgA senior managing director Anthony Rochte says: "The Build America Bonds are a relatively new asset class; however, as investors and advisors have gr...