State Street to Split International Treasury ETF

State Street Global Advisors (SSgA), the third-largest U.S. issuer of exchange traded funds, said it will split the SPDR Barclays International Treasury Bond ETF (NYSEArca: BWX).

BWX’s “stock split is effective after the close of business on September 28, 2016. On September 29, 2016, the fund’s shares will begin trading on a split-adjusted basis,” said SSgA in a statement.

The ETF will be split 2-for-1. BWX has a modified adjusted duration of 8.1 years and tracks the Barclays Global Treasury ex-US Capped Index.

BWX allocates over 23% of its weight to Japanese bonds. The U.K. and France combine for over 14% of the ETF’s weight. Over 35 countries are represented in BWX.

Japanese government bonds are gaining momentum as global uncertainty pushed investors into safe-haven assets. Consequently, yields on benchmark 10-year Japanese government bonds dipped into negative territory earlier this year.