The PowerShares Build America Bond exchange-traded fund, the only ETF tied to the Build America Bonds program, began trading Tuesday on NYSE Arca. Also Tuesday, Eaton Vance announced the launch of the Eaton Vance Build America Bond Fund, the first actively managed mutual fund to invest in municipal obligations issued under the American Recovery & Reinvestment Act of 2009.

As Ben Fulton, EVP, global product development at Invesco PowerShares, said of his company’s ETF, “We believe the PowerShares Build America Bond Portfolio provides a convenient, cost-effective way to invest in taxable, investment-grade municipal bonds, which tend to have yields commensurate with similarly rated corporate bonds. Furthermore, we believe the fund will bring much-needed liquidity to a market that will be pivotal in the rebuilding of America’s infrastructure.”

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