WisdomTree, the publicly traded New York-based ETF sponsor, today rolled out the market’s first broad-based emerging market corporate bond ETF, beating iShares and State Street Global Advisors to the punch.
The WisdomTree Emerging Markets Corporate Bond Fund (NasdaqGM: EMCB) is an actively managed portfolio consisting of dollar-denominated investment-grade corporate bonds from issuers in Asia, Latin America, Eastern Europe, Africa and the Middle East. the fund, which is listed on the Nasdaq exchange, has an annual expense ratio of 0.60 percent.
EMCB is an active fund that grants Legg Mason’s subsidiary Western Asset Management broad discretion in choosing credits. That process is crucial to keeping investors out of highly volatile countries and away from illiquid securities, Matthew Duda, EMCB’s portfolio manager, told IndexUniverse in a telephone interview.