Guggenheim to Introduce Yuan Bond ETF on Thursday

Guggenheim, the ETF issuer that currently sponsors four China-specific ETFs, will add to that lineup on Thursday Sept. 22 with the introduction of the Guggenheim Yuan Bond ETF. The new ETF will trade on the New York Stock Exchange under the ticker “RMB” and feature an expense ratio of 0.65%. The Guggenheim Yuan Bond ETF will track the AlphaShares China Yuan Bond Index, a rules-based index that held 37 securities as of the end of August, according to the Guggenheim filing. RMB gives U.S. and other foreign investors exposure to bond issues from Chinese and other companies denominated in Chinese yuan. All of the issues in the new ETF must have investment grade ratings from Fitch, Moody's and Standard & Poor's, according to the filing. At the end of August, Guggenheim had 43 ETFs with $3.3 billion in assets under management on the market, according to data from the National Stock Exchange. On Tuesday the firm said it will rebrand Rydex ETFs with the Guggenheim name, creating the eighth-largest U.S. ETF issuer with over $12 billion in AUM.