Although providers have continued to list new ETFs designed to provide yield in a low interest rate environment, some of the most successful recent product launches haven’t focused on income.

Exchange traded product launches are “sometimes are a trailing indicator, as it usually takes a minimum of several months between product registration and roll-out,” says Morningstar fund analyst Robert Goldsborough.

“Still, ETP issuers endeavor to create products they think will gain traction from investors, so a look at successful recent product roll-outs can offer a sense of where providers have done a solid job of anticipating investor interest,” he wrote in an article this week.

Although funds for master limited partnerships and high-yield multi-asset products continue to be popular, “most of the most successful ETPs have not had an offer of more income as their cornerstone,” Goldsborough notes.

Bank loan ETFs include PowerShares Senior Loan Portfolio (NYSEArca: BKLN), Highland/iBoxx Senior Loan (NYSEArca: SNLN), SPDR Blackstone/GSO Senior Loan ETF (NYSEArca: SRLN) and First Trust Senior Loan Fund (NasdaqGM: FTSL). Investors like these ETFs for their yield and protection from rising interest rates, since the funds track floating-rate securities. [Bank Loan ETFs Still in the Groove]

“Somewhat surprising is the relative dearth of products rolled out this year are aimed at protecting investors from rising rates. However, for investors concerned about rising rates, a few new useful products have launched,” Goldsborough said. Bank loan ETFs fall into this category.

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