Market Vectors has launched the Market Vectors BDC Income ETF (BIZD), which will trade on the NYSE Arca.
The fund bets on business development companies, which generate high return through loan and debt investments in private U.S. companies that are below investment grade or not rated.
BIZD tracks the Market Vectors US Business Development Companies Index, which tracks the overall performance of publicly traded BDCs with market capitalizations of at least $150 million, a three-month average daily trading volume of at least $1 million, and a minimum trading volume of 250,000 shares each month in the previous six months.
Market Vectors ETPs span asset classes including equities, fixed-income and currency markets. The ETF family totals $27.6 billion in assets under management.
