Taking Stock: Proshares Launches USD Covered Bond ETF

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ProShares, the Maryland-based issuer that can be credited with the launch of a number of products that offers exposure in alternative assets, has unveiled the ProShares USD Covered Bond ETF (COBO). The fund follows the BNP Paribas Diversified USD Covered Bond Index, a benchmark that consists of US dollar denominated covered bonds that are AAA rated. Covered bonds are debt …