A taxable municipal bond ETF focused on “Build America” bonds started trading this week.

The PowerShares Build America Bond Portfolio (BAB)  tracks an index designed to track the performance of U.S. dollar-denominated investment grade taxable municipal debt publicly issued under the Build America Bond program in the U.S. domestic market.

Top holdings include Florida State International 6.5% 7/01/29California State Public Works Board 8.361% 10/01/2034 and JEA Florida Electric Systems 6.406% 10/01/2034. The average coupon is 6.37%, average duration is 10.78 years and net expense ratio is 0.35%.

For more ETF investing choices, see the Fixed Income Tax-Exempt ETF directory.