State Street Global Advisors launched a short-term corporate bond exchange-traded fund.

The SPDR Barclays Capital Short Term Corporate Bond ETF, which has an annual expense ratio of 0.1245%, began trading Thursday on the NYSE Arca exchange. The fund is designed to improve access to investment-grade short-term corporate bonds by tracking the price and yield performance of the Barclays Capital U.S. One to Three Year Corporate Bond Index.

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