State Street recently launched the SPDR Barclays Capital Intermediate Term Credit Bond ETF (Ticker: ITR).

The new ETF provides investors with precise, low-cost access to intermediate term bonds including investment grade corporate and non-corporate bonds with a maturity of 1 to 10 years.

Top fund holdings include bonds issued by General ElectricCitigroupUnited Mexican States andFederal Republic of Brazil.

The new ETF carries an expense ratio of 0.15% and will compete with the iShares iBoxx $ Investment Grade Corporate Bond Fund (Ticker: LQD).