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ProShares Draws Up Plans for Short-Duration, Emerging-Markets Bond ETF

State Street drafts plans for a "beyond BRIC" ETF, while Emerging Global plans an index change for its existing "beyond BRIC" ETF. Also, Guggenheim's BRIC index to get a new index, and Horizons looks to move into actively managed ETFs.

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On Aug. 23, ProShares submitted paperwork with U.S. regulators seeking permission to create a passively managed exchange-traded fund that would hold emerging-markets debt.

The proposed ProShares Short Term USD Emerging Markets Bond ETF would be the U.S. ETF market's first short-duration, emerging-markets bond ETF. The proposed fund would hold U.S. dollar-denominated, emerging-markets debt with less than five years until maturity, issued by emerging-markets governments and corporations. Debt held would be required to be fixed-rate and need to have at least 18 months until maturity. The proposed fund's index would allow both investment-grade and high-yield debt but would exclude zero-coupon, inflation-linked, and convertible bonds.

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

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