Exchange traded fund providers continue to roll out new products designed to satisfy investors’ craving for yield.

BlackRock’s iShares has launched the iShares S&P International Preferred Stock Index Fund (NYSEArca: IPFF). It has an expense ratio of 0.55%.

“The fund is the first ETF that offers access to local currency, preferred securities that are offered in developed markets outside the U.S.,” BlackRock said in a press release.

Preferred shares usually have higher dividends but don’t carry voting rights. They also take priority over common stock in a bankruptcy.

“Income-seeking investors are starved for yield opportunities, but traditional income sources today are offering historically low yields,” said Darek Wojnar, head of iShares product development at BlackRock.  “At the same time, it’s been challenging for investors to easily tap into potentially attractive income sources beyond their home markets,” he said, adding the ETF provides currency diversification away from the U.S. dollar.

Preferred stock ETFs already on the market include iShares S&P Preferred Stock Fund (NYSEArca: PFF), PowerShares Financial Preferred (NYSEArca: PGF), PowerShares Preferred (NYSEArca: PGX) and SPDR Wells Fargo Preferred Stock (NYSEArca: PSK). [Preferred Stock ETF 101]