Tabula Investment Management has launched a new ETF providing short exposure to North American high-yield credit through access to the corporate credit default swap (CDS) market. The Tabula North American CDX High Yield Credit Short UCITS ETF (TABS LN) has listed on the London Stock Exchange and comes with an expense ratio of 0.50%. Jason Smith, CIO of Tabula, said, “Financial market indicators are optimistic relative to both credit and economic indicators. Investors need to review their exposure to high yield US debt and consider strategies for protecting against any rise in defaults.”

S&P Dow Jones Indices and IHS Markit have announced a strategic partnership that will see the firms collaborate a series of multi-asset indices. The partnership will focus on each company’s strengths, combining S&P DJI’s equity indices with IHS Markit’s fixed income benchmarks. Sophia Dancygier, Head of Indices at IHS Markit, said, “During these volatile market conditions, we are proud to unite the capabilities of the most authoritative equity and fixed income index providers.”

The Federal Reserve has announced it will support US credit markets by extending its asset purchase program to investment-grade corporate bonds and ETFs that hold them. Investors reacted positively to the news with the $30.3bn iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD US) attracting over $1bn in net inflows and gaining 3.6%, halting the fund’s steep decline over the past two weeks.

BlackRock has broadened its sustainable fixed income offering in Europe with the launch of three ultrashort duration bond ETFs that screen issuers according to environmental, social, and governance (ESG) criteria. The funds, which are ESG equivalents of existing iShares UCITS ETFs, are linked to Markit iBoxx indices and provide exposure to short-maturity corporate bonds issued in US dollars, euros, or pound sterling.

S&P Dow Jones Indices has unveiled the S&P GSCI Carbon Emission Allowances (EUA) EUR Index, an index providing exposure to the price of carbon credits within the European Union’s Emission Trading System. Carbon credits are permits or allowances issued by governments that enable the holder to discharge a specific quantity of carbon over a specific time period. The index is based on the ICE EUA Futures Contract and represents the first carbon emissions single-commodity index for the S&P GSCI series.

Alinma Investment, the asset management arm of Alinma Bank, has launched a new fixed income ETF in Saudi Arabia providing exposure to short-maturity sukuk bonds issued by the Saudi Kingdom’s government. The Alinma Saudi Government Sukuk ETF Fund – Short Maturity (ALINMETF AB) has listed on the Saudi Stock Exchange, or Tadawul, and comes with a management fee of 0.25%.

IHS Markit and MSCI have announced a collaboration in which IHS Markit will apply MSCI’s environmental, social, and governance (ESG) expertise to a broad range of fixed income and credit indices. As a first phase of the collaboration, IHS Markit has introduced ESG versions of iBoxx indices that cover the short maturity segments of the US dollar, euro, and pound sterling corporate bond markets. Sophia Dancygier, Head of Indices at IHS Markit, commented, “Investors have a growing appetite for exposure to ESG funds, creating a need for indices that integrate these principles while accurately representing the underlying market and continuing to deliver strong returns.”

Tabula Investment Management has introduced a US dollar hedged share class for the Tabula JP Morgan Global Credit Volatility Premium Index UCITS ETF. Michael John Lytle, CEO of Tabula Investment Management, commented, “Investors have responded well to our first global credit volatility ETF, and we are pleased to add to our offering with a US dollar-hedged share class of the fund.”

Tabula Investment Management has unveiled its first cash bond ETF, the Tabula iTraxx Europe IG Bond UCITS ETF, offering physical corporate bond exposure to an index mirroring the important iTraxx Europe CDS benchmark. The fund, which has listed on the LSE, is likely to appeal to investors seeking a well-diversified, pure-play position in investment-grade, genuinely European credit. It may also provide an effective investment vehicle by which to facilitate basis trades between bonds and CDS. Michael John Lytle, CEO of Tabula, said he was “very excited at the level of innovation” offered by the ETF.

Fixed income specialist Tabula Investment Management has strengthened its product offering in Germany with the cross-listing of a further three ETFs on Xetra. Gereon Tewes, who is responsible for German-speaking client coverage at Tabula, said, “I am extremely pleased to see the extension of our offering in a key and significant market. The opportunity this offers to German investors will undoubtedly spur the demand for credit exposures in fixed income and further allow us to develop our lines of business.”