Korea Investment Management has launched an ETF that tracks the Solactive SOFR Daily Total Return Index in Korea. The ETF aims to provide yields in line with the Secured Overnight Financing Rate (SOFR) and uses an accumulating daily return strategy. The ETF wrapper is a convenient tool for financial market participants to access SOFR yield efficiently and flexibly.
ETF Newz Says:
SOFR is a benchmark interest rate based on US Treasury repurchase market transactions and is used for USD denominated derivatives and loans.