Global investment firm PIMCO figured out one way to get attention for a new exchange-traded fund: launch it when no one else is debuting.

That’s exactly what happened last week when the PIMCO Global Advantage Inflation-Linked Bond Strategy Fund (NYSE:ILB) hit the market.

Rather than relying solely on U.S. Treasury Inflation-Protected Securities, or TIPS, the ILB fund takes a worldly tack by putting at least 80% of its funds in global inflation-linked bonds and investing the rest in currencies.

The fund has an 11% weighting in 2022 TIPS, as well as varying positions in other TIPS, and top holdings also include Canadian and British bonds. However, fund manager Mihir Worah also sees emerging economies as important to the ETF’s strategy, and ILB has significant funds invested in Mexican and Brazilian bonds, among others.

ILB is benchmarked to both the Barclays Capital Universal Government Inflation-Linked Bond Index and the Global Advantage Inflation-Linked Bond Index — the later of which is gross domestic product-weighted — but is actively managed by Worah, as PIMCO extends its actively managed offerings in hopes of following Bill Gross’s success with the PIMCO Total Return ETF (NYSE:BOND).

ILB has about $18 million in assets and charges 0.6% in expenses.

The Global Advantage bond fund marked May’s only fund launch — a stark contrast to the previous week, which saw 10 funds launch, including a “wide moat” fund and some actively managed State Street (NYSE:STT) ETFs, among others. To date, 106 new funds have been launched this year, according to XTF.com.

Kyle Woodley is the assistant editor of InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities. Follow him on Twitter at @KyleWoodley.