iShares, the exchange-traded funds platform of US-listed BlackRock, has expanded its European corporate bond suite with a new ETF that focuses on financial issuers.

The firm said that the iShares Barclays Euro Corporate Bond Financials UCITS ETF has a total expense ratio of 0.2 per cent and offers a yield of 2.06 per cent.

The fund provides exposure to fixed rate, investment grade bonds and tracks the Barclays Euro-Aggregate Financial Index by holding the physical bonds, the firm said in a statement.

“Fixed income remains a core component of our ETF product range and we continue to innovate and evolve our product offering in this area. The new fund provides targeted exposure to this important segment of the bond market in a single trade. Investors can use this new iShares ETF in conjunction with existing iShares funds to express tactical views in their asset allocation,” said Stephen Cohen, head of investment strategy and insight EMEA at iShares.