Invesco’s PowerShares subsidiary has filed to offer an exchange-traded fund that will primarily invest in the Build America Bonds being issued as part of the stimulus plan.

Eaton Vance has also filed to offer a mutual fund tied to the bonds being offered as part  of the American Recovery and Reinvestment Act of 2009. Since Invesco’s offering is an ETF, it will track the Merrill Lynch Build America Bond Index.

“We think it will be a great vehicle for people to access the Build American Bonds program and that area of the marketplace,” Bruce Bond, CEO of PowerShares, told The Wall Street Journal. “We’ve seen a lot of interest in the bonds, and know a lot of municipalities are participating.”

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