Frankfurt-based Solactive AG introduced an index on Friday that tracks the performance of Canadian-issued investment-grade government and corporate bonds, denominated in Canadian dollars.

The Solactive Canadian bond universe TR index, which was released Friday, was developed for investors seeking exposure on both the fixed-income and hybrid sides in the Canadian market.

As a benchmark, the new index can be leveraged to assess portfolio performance, offer a starting point for smart beta indices and active strategies, or act as basis for ETFs and structured products.

To be included in the index, bonds need to have a government or corporate seal, an investment-grade rating and an issue in the Canadian market with a minimum maturity of 12 months.

The new index belongs to a family of Canada-specific indices, which runs the gamut from covering bonds with shorter maturities to offering “separate exposure to either the government or corporate segment,” Solactive’s news release says.

“The new family of Canada-focused indices offers investors the possibility of gaining exposure to specific sections of the Canadian market,” says Henning Kahre, head of research at Solactive, in a statement. “Considering that Canada is one of our most important target markets, broadening our range of indices is a strategic step for Solactive.”