Deutsche Asset Management added onto its line of fixed-income exchange traded fund strategies with a new high-yield junk bond option.

On Wednesday, Deutsche Asset Management rolled out the Deutsche X-trackers USD High Yield Corporate Bond ETF (NYSEArca: HYLB). HYLB has a 0.25% net expense ratio.

“For investors seeking pure high-yield beta exposure as part of their diversification strategy in their overall asset allocation, they can now do so in a fast and cost-effective way through the Deutsche X-trackers USD High Yield Corporate Bond ETF,” Fiona Bassett, Head of Passive Asset Management, Americas, said in a statement. “In the current low interest rate environment, high-yield bonds provide investors with a potential source of income. In addition, as the market is anticipating an interest-rate hike by the US Federal Reserve Board, the high-yield market tends to be less impacted by rate moves, shielding investors from potential volatility.”

HYLB will try to reflect the performance of the newly launched Solactive USD High Yield Corporate Total Market Index, a market value weighted benchmark designed to mirror the performance of high yield corporate bonds issued in U.S. dollars.

The new ETF may also include USD-denominated, speculative-grade debt issued by foreign companies. Current country exposure includes a large 85.6% U.S. tilt, along with 4.3% Canada, 4.1% United Kingdom, 4.1% France and 1.1% Netherlands.

The fund will limit sector concentrations to up to 25% of its total assets. As of September 30, 2016, the underlying index included 1,616 debt securities issued by 435 different issuers from Australia, Belgium, Bermuda, British Virigin Islands, Canada, Cayman Islands, Finland, France, Germany, Ireland, Italy, Japan, Jersey Channel Islands, Liberia, Luxembourg, Marshall Islands, Netherlands, Norway, Singapore, Sweden, the U.K and the U.S.

The new HYLB will be competing directly with the iShares iBoxx $ High Yield Corporate Bond ETF (NYSEArca: HYG) and SPDR Barclays High Yield Bond ETF (NYSEArca: JNK). Long-term investors may find HYLB as a cheaper alternative to the JNK, which has a 0.40% expense ratio, and HYG, which has a 0.50% expense ratio.

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