State Street Global Advisors Expands Suite of Technology Industry ETFs06.29.2016 By John D'Antona Editor, Traders Magazine
State Street.com — BOSTON — State Street Global Advisors (SSGA), the asset management business of State Street Corporation, (NYSE:STT) announced that the SPDR® S&P® Technology Hardware ETF (Ticker: XTH) and the SPDR® S&P® Internet ETF (Ticker: XWEB) began trading on the NYSE Arca. XTH and XWEB, designed to provide investors with targeted exposure to technology hardware sub-industries in the technology sector, and internet sub-industries in the consumer discretionary and technology sectors, respectively, join SSGA’s leading suite of modified equal weighted S&P Industry ETFs, which now includes 20 funds with more than $13 billion in assets.
“The US technology-related landscape includes a wide range of companies; from younger firms focused on cutting edge products to the largest, most well-known brands,” said Nick Good, co-head of the Global SPDR business at State Street Global Advisors. “Investors have asked us for solutions to help refine their investment options by gaining access to technology-related sub-industries that are found in XTH and XWEB. In addition, with a modified equal weighted approach, investors may reduce the risk of being limited to a portfolio driven by one or two large names, relative to a market cap weighted approach.”
The SPDR S&P Technology Hardware ETF seeks to track the performance of the S&P Technology Hardware Select Industry Index, which represents the hardware segment of the S&P Total Market Index and comprises companies in the technology hardware, storage & peripherals sub-industry, electronic equipment and instruments sub-industry, and electronic components sub-industry.
The SPDR S&P Internet ETF seeks to track the performance of the S&P Internet Select Industry Index, which represents the internet segment of the S&P Total Market Index and comprises companies in the internet retail sub-industry and internet software and services sub-industry.
The gross expense ratio for both the SPDR S&P Technology Hardware ETF and the SPDR S&P Internet ETF is 0.35 percent.
Having launched the first sector ETFs more than 18 years ago, SSGA remains a leading provider of both sector and industry ETFs. SSGA’s suite of US-listed sector and industry SPDR ETFs now includes 31 funds with more than $100 billion in assets.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com.
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been committed to helping our clients, and those who rely on them, achieve financial security. We partner with many of the world’s largest, most sophisticated investors and financial intermediaries to help them reach their goals through a rigorous, research-driven investment process spanning both indexing and active disciplines. With trillions* in assets, our scale and global reach offer clients access to markets, geographies and asset classes, and allow us to deliver thoughtful insights and innovative solutions. State Street Global Advisors is the investment management arm of State Street Corporation.
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