State Street has launched the SPDR Barclays Capital International Corporate Bond ETF (IBND), an exchange traded fund designed to provide investors with cost efficient exposure to investment-grade corporate bonds outside of the US.

According to State Street, foreign debt issues account for more than 60 percent of the world’s bond supply and U.S. investors are looking to participate in growth outside of the US to strengthen the diversification of their fixed-income portfolios.

The fund tracks an index that includes Euro-Dollar and Euro-Yen corporate bonds, Canadian government, agency, and corporate securities that have a minimum of $1 billion market capitalization and at least one year remaining to maturity.

The expense ratio for the ETF is 0.55%

For more ETF investing choices, see the list of fixed income ETFs.