The new PureBeta US Aggregate Bond Portfolio matches the pricing of its biggest fund competitors, including the $50.3 billion iShares Core U.S. Aggregate Bond ETF (NYSEArca: AGG), which tracks the Bloomberg Barclays US Aggregate Bond Index, and $35.8 billion Vanguard Total Bond Market ETF (NYSEArca: BND), which follows the Bloomberg Barclays U.S. Aggregate Float-Adjusted Index. Both AGG and BND come with a 0.05% expense ratio.

The honor of cheapest aggregate bond or total bond ETF strategy goes to the $4.3 billion Schwab U.S. Aggregate Bond ETF (NYSEArca: SCHZ), which also tries to reflect the performance of the Bloomberg Barclays U.S. Aggregate Bond Index. SCHZ shows a dirt cheap 0.04% expense ratio.

To put the price points in perspective, there are 320 U.S.-listed bond ETFs on the market with an average 0.37% expense ratio.

PBND joins the PureBeta ETF lineup, which was launched just last week, including the PowerShares PureBetaSM MSCI USA Portfolio (BATS: PBUS), PowerShares PureBetaSM MSCI USA Small Cap Portfolio (BATS: PBSM), PowerShares PureBetaSM FTSE Developed ex-North America Portfolio (BATS: PBDM), PowerShares PureBetaSM FTSE Emerging Markets Portfolio (BATS: PBEE) and PowerShares PureBetaSM 0-5 Yr US TIPS Portfolio (BATS: PBTP).

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