Invesco PowerShares has listed an international corporate bond ETF.

The PowerShares International Corporate Bond Portfolio (PICB) is based on the S&P International Corporate Bond Index.

This Index measures the performance of investment-grade corporate bonds issued by non-U.S. issuers in the following G-10 currencies: Australia dollar (AUD), British pound (GBP), Canadian dollar (CAD), Euro (EUR), Japanese yen (JPY), Swiss franc (CHF), Danish krone (DKK), New Zealand dollar (NZD), Norwegian krone (NOK) and Swedish krona (SEK).

The expense ratio for the ETF is 0.50%

According to Invesco PowerShares, international corporate bonds tend to perform differently than domestic bonds and historically have exhibited a low correlation with major asset classes.

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