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PowerShares Launches Global, Short-Term Junk-Debt ETF

IShares debuts the ETF market's third Colombia ETF, State Street drafts an international junk-debt ETF, and the curtain rises on Christian Magoon's first YieldShares ETF.

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On Thursday, June 20, PowerShares rolled out a passively managed exchange-traded fund holding short-term, non-investment-grade bonds issued both in the United States and abroad.

PowerShares Global Short Term High Yield Bond (PGHY) helps round out PowerShares' portfolio of debt ETFs. The fund tracks a Deutsche Bank index of dollar-denominated, fixed-rate debt securities issued both by companies and by governments or government entities with three years or less. All the ETF's debt is rated below-investment-grade, or junk.

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Robert Goldsborough does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.