That mean new bonds tend to have higher interest / coupon payments than comparable bonds already on the market. (etfdb.com)
Remember this when you're comparing ETFs tracking the same asset class, whether it's VCE and XIU in Canadian equities or comparable bond funds such as the BMO Aggregate Bond (ZAG) and the iShares DEX Universe Bond (XBB). (moneysense.ca)
Exhibit 1 shows a structural and return comparison between the two index providers of comparable bond universes. (indexologyblog.com)