State Street Global Advisors (SSgA) has launched a new municipal bond exchange-traded fund (ETF). The SPDR Nuveen S&P High Yield Municipal Bond ETF is designed to give investors access to high yield municipal bonds.

The portfolio aims to track the performance of the S&P Municipal Yield Index, which is a market value-weighted index with majority of its market value allocated to high yield bonds that are non-rated or rated below investment grade. The high yield bond fund has started trading on the NYSE Arca.

Click here for the release from Business Wire.