RFUN and RFCI may invest in the same universe of investable securities, including US and Foreign government and corporate debt, High yield bonds, Emerging market bonds, Mortgage backed securities (MBS), Commercial mortgage backed securities (CMBS), Asset backed securities (ABS), Convertible bonds, Preferred securities and Municipal bonds.

Related: U.S. Junk Bond Market, ETFs Are Enticing Foreign Interest

However, the two funds differ in their maximum caps on foreign exposure. Specifically, RFUN may include up to 50% of assets in securities denominated in foreign currencies and up to 50% of assets in securities of issuers located in emerging markets. RFCI, on the other hand, can only hold 10% of securities denominated in foreign currencies and 10% in emerging market issuers.

Income-minded investors would also be happy to know that the two active bond ETFs provide a monthly payout.

For more information on new fund products, visit our new ETFs category.