PowerShares Canada has added two exchange traded funds (ETFs) to its line up.

On July 21st, PowerShares launched its 1-3 Year Laddered Floating Rate Note Index ETF and LadderRite U.S. 0-5 Year Corporate Bond Index ETF. Both are available for purchase on the Toronto Stock Exchange (TSX).

The PowerShares 1-3 Year Laddered Floating Rate Note Index ETF (trading under the PFL symbol) seeks to replicate, before fees and expenses, the performance of the FTSE TMX Canada 1-3 Year Laddered Floating Rate Note Index. The index is designed to give investors exposure to a laddered basket of Canadian government and corporate investment-grade floating-rate notes. PFL has a management fee of 0.20%.

PowerShares LadderRite U.S. 0-5 Year Corporate Bond Index ETF (trading under the USB symbol) seeks to replicate, before fees and expenses, the performance of the NASDAQ LadderRite 0-5 Year USD Corporate Bond Index. The index is designed to give investors exposure to a laddered basket of U.S.-dollar-denominated, investment-grade corporate bonds. USB has a management fee of 0.25%.

"The low interest rates paid on government bonds makes short-term U.S. corporate debt and floating-rate notes quite attractive to investors seeking yield," comments Michael Cooke, head of distribution at PowerShares Canada. "Both the laddering structure and the short duration of the underlying securities help reduce interest-rate sensitivity."