Lastly, PBTP tries to reflect the performance of the BofA Merrill Lynch 0-5 Year US Inflation-Linked Treasury Index, which includes U.S. Treasury Inflation Protected Securities with a remaining maturity of at least one month and less than five years.

Related: Is There a Passive Investing Bubble?

While the new PowerShares ETFs are not anything new in the ETF space, the funds are the cheapest options covering their respective benchmark indices. The competitive pricing may be one way for PowerShares to wrestle assets away from more established ETFs tracking the same benchmarks. The new ETFs’ price points are only a few basis points off from the cheapest ETFs in their respective categories as well.

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