We have spent a great deal of time in recent weeks speaking about U.S. Treasury related ETFs but today we switch focus to Corporate Bond products.

Specifically, SPDR Barclays Capital Short Term Corporate Bond (NYSEArca: SCPB) has accumulated significant asset flows in recent sessions, taking in more than $130 million which is equivalent to about 20% of the assets outstanding in the fund. [Corporate Bond ETFs Dominate Fixed-Income ETF Flows]

Trading near multi-year highs, the ETF invests in short term corporate bond issues (duration of 1-3 years) and follows the Barclays Capital U.S. 1-3 Year Corporate Bond Index.

Currently, top holdings in the fund are mostly debt from financial companies, and the observer will note some of the outstanding debt issues are from companies that have since merged with others.

Top weightings include bonds from Bank of America, Citigroup, Bear Stearns and Company, Wachovia, and General Electric and there are 767 separate holdings in the fund, giving it quite a bit of diversification.