Pacer Financial has launched the Pacer Global High Dividend ETF (BATS: PGHD), according to a press release. PGHD will try to reflect the performance of the Pacer Global Cash Cows Dividend 100 Index, which targets the universe of FTSE All World Developed Large-Cap Index, screens for those with the highest trailing twelve month free cash flow yield and targets 100 companies with the highest twelve month dividend yield. The underlying index shows a 5.06% dividend yield. PGHD has a 0.60% expense ratio.

High-Yield Sovereign Debt

Cambria Investment Management launched the actively managed Cambria Sovereign High Yield Bond ETF (NYSEArc: SOVB), according to a press release. SOVB consists of liquid sovereign debt issues with high yield characteristics. Additionally, the underlying index tries to eschew traditional cap-weighted indexing methodologies, which may overweight the most indebted countries, by limiting country debt to 10% of the portfolio. The ETF is mostly made up of emerging market high-yield, speculative-grade debt. SOVB has a 0.59% expense ratio.

Max Chen contributed to this article.