RBC iShares has launched two new RBC Target Maturity Corporate Bond ETFs.
The two funds, which will be managed by RBC Global Asset Management Inc. and begin trading on the TSX today, are called the RBC Target 2026 Corporate Bond Index ETF and RBC Target 2027 Corporate Bond Index ETF.
They’re part of a family of fixed-income funds that mature “in successive years from 2020 to 2027,” a release said, noting that each fund tracks a FTSE Maturity Corporate Bond Index that focuses on domestic investment-grade corporate bonds.
When a fund reaches maturity, the release said, its final net asset value is returned to unitholders.
Mark Neill, head of RBC ETFs, said the new offerings can enhance investors’ “bond laddering strategies.”