ProShares, an issuer of alternative exchange-traded funds (ETFs), has submitted plans with the US Securities and Exchange Commission (SEC) to introduce a new fund called ProShares Short Term USD Emerging Markets Bond ETF.
The proposed fund will invest in debt securities.
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To be issued by emerging-markets governments and corporations, the proposed ETF comprises of a diversified portfolio of US dollar-denominated, emerging-market bonds that have less than five years remaining to maturity, according to the SEC.
Designed to represent the more liquid universe of short term US dollar EM bonds, the proposed fund will pay transaction and financing costs associated with transacting in securities. It would keep out zero-coupon, inflation-linked, and convertible bonds, while allow both investment-grade and high-yield debt.
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