The following are new investments that those saving for or living in retirement might consider for their portfolios. This week: A fund designed to hedge against interest rate volatility.

Quadratic Capital has introduced the Quadratic Interest Rate Volatility and Inflation Hedge ETF, (IVOL) a fund that is designed to hedge interest rate volatility.

According to Lou Conrad of COMPASS Wealth Management in Concord, Mass., the hedging results from the combination of investing in U.S. Treasury Inflation-Protected Securities (TIPS) and interest rate options.

The TIPS hedge against inflation, whereas the interest rate options are expected to increase in value when the interest rate curve steepens and decrease in value when the curve flattens. "This fund's first-to-market approach is intriguing, but may be of limited use for most individual investors," says Conrad.

Quadratic indicates that the fund may act as a hedge for holdings in fixed income, real estate, equities, as well as a hedge against volatility.

"But investors should be aware that though 80% or more of the ETF's assets are expected to be invested in TIPS, the fund's remaining assets will be focused in long option positions, whose values can be volatile due to their leverage to interest rate moves," says Conrad.

IVOL's annual expense ratio is currently 0.99%, after a fee waiver.

Got questions about the new tax law, Social Security, Medicare, retirement, investments, or money in general?