State Street Global Advisors has just introduced the SPDR Barclays Capital Long Term Credit Bond ETF (LWC).
LWC provides market exposure to long-term (10-plus years) investment-grade bonds and the fund's performance is linked to the Barclays Capital U.S. Long Credit Index.
The underlying index contains investment-grade corporate and non-corporate credit bonds that are dollar-denominated and have a remaining maturity of at least 10 years. As of December 31, 2008, the index included 965 issues with an average dollar-weighted maturity of 24.39 years.
