Bats Global Markets (Bats), the #1 U.S. market for the trading of exchange-traded funds (ETFs), today welcomed State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), as a new issuer with the listing of the SPDR DoubleLine Emerging Markets Fixed Income ETF (Bats: EMTL) and the SPDR DoubleLine Short Duration Total Return Tactical ETF (Bats: STOT).
Both issues began trading today on the Bats ETF Marketplace.
The SPDR DoubleLine Short Duration Total Return Tactical ETF (STOT) seeks to maximize current income with a weighted average effective duration between one and three years.1 STOT is managed by Jeffrey Gundlach, chief executive officer and chief investment officer of DoubleLine Capital, Philip Barach, DoubleLine president and Jeffrey Sherman. The fund seeks to maximize total return over a full market cycle through active sector and security selection across a broad range of fixed income securities that could include issues or guarantees by the U.S. government, foreign and domestic corporate bonds, emerging market bonds and agency and non-agency mortgage backed securities. STOT has a gross expense ratio of 0.50 percent and a net expense ratio of 0.45 percent.
The SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) seeks to provide high total return from current income and capital appreciation. EMTL is managed by Luz Padilla, director of DoubleLine’s International Markets Fixed Income Team, Mark Christensen and Su Fei Koo. The fund seeks to maintain a weighted average effective duration between two and eight years through active security selection that combines bottom-up research with sovereign macro overlays.
EMTL offers actively managed exposure to fixed income instruments from emerging market sovereign and corporate issuers, with no more than 20 percent of assets allocated to a single country or in fixed income securities that are unrated or rated BB+ or Ba1 or lower. The SPDR DoubleLine Emerging Markets Fixed Income ETF has a gross expense ratio of 0.75 percent and a net ratio of 0.65 percent.
“We are excited State Street has entrusted Bats as the listing venue for these two new ETFs and we look forward to a strong partnership,” said Laura Morrison, Senior Vice President, Global Head of Exchange-Traded Products at Bats. “As a pioneer and thought leader in the ETF industry, State Street Global Advisors has been a pivotal force in the growth and development of the industry and helping investors reach their investment goals with their innovative products and services.”
Bats ranks as the top exchange operator for ETF trading with the Bats Exchanges – BYX, BZX, EGDA, EDGX – executing 26.2% of all ETF trading in February. Bats was the #1 U.S. market for ETF trading for every month of 2015 and the #2 U.S. market for overall equities trading.
Additional information regarding listing and trading on the Bats ETF Marketplace is available on the Bats website. ETF issuers interested in joining the many firms listing on Bats may email listings@bats.com.
1 Duration is a measure of the sensitivity of the price of a fixed income investment to a change in interest rates expressed as a number of years.
