Investing

Junk Bond ETF Launch: SPDR Lehman High Yield Bond ETF (JNK)

The American Stock Exchange launched trading in a new ETF today as the SPDR Lehman High Yield Bond ETF (Amex: JNK) by State Street Global Advisors.

JNK uses a passive management strategy designed to track the total return performance of the Lehman Brothers High Yield Very Liquid Index which measures the performance of publicly issued U.S. dollar denominated high yield corporate bonds with above-average liquidity.

This new ETF brings the total number of ETF listings on the Amex to a total of 377 ETF’s.  It simultaneously launched stock options chains tied to it as well.  JNK traded only 1,900 shares today.

Jon C. Ogg
December 4, 2007