With all the talk of potential interest-rate increases in the U.S., fixed-income exchange-traded funds are in vogue.

Through February, investors poured more than $20 billion into bond ETFs—67% of net flows to all exchange-traded products, according to research firm XTF Inc.—as they looked to sync their fixed-income exposure with a view on rates.

Jeffrey Gundlach is running a new total-bond ETF. PHOTO: BLOOMBERG NEWS

While flexibility is one of the great benefits of the over 250 fixed-income and bond ETFs—allowing investors to pinpoint portfolios for desired levels of credit and rate exposure—there are investors seeking

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