New bond ETF from State Street on Xetra: first access to the Saudi Arabian bond market including sukuk government bonds
New bond ETF from State Street on Xetra: first access to the Saudi Arabian bond market including sukuk government bonds
Since Thursday, a new exchange-traded fund from State Street Global Advisors has been tradable via Xetra and Börse Frankfurt.
With the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, investors gain access to the Saudi Arabian bond market for the first time. The fund tracks the performance of the J.P. Morgan Saudi Arabia Aggregate Index and invests in liquid U.S. dollar-denominated sovereign and quasi-sovereign bonds, as well as SAR Sukuk sovereign bonds from Saudi Arabia.
The benchmark index includes U.S. dollar-denominated fixed and floating rate bonds, zero-coupon bonds, capitalisation/redemption bonds, and bonds with call or conversion rights. In addition, SAR-denominated Sukuk government bonds issued after January 1, 2023 may be included in the index. At the time of index inclusion, the bonds must have a remaining maturity of at least 2.5 years.
It is an accumulating share class, i.e. the income is reinvested.
Name | Asset class | ISIN | Ongoing charges | Distribution policy | Reference index |
SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF (Acc) | Fixed-Income ETF | 0.37 per cent | accumulating | J.P. Morgan Saudi Arabia Aggregate Index |
The product offering in Deutsche Börse's XTF segment currently comprises a total of 2,315 ETFs. With this selection and an average monthly trading volume of around €16 billion, Xetra is the leading trading venue for ETFs in Europe.