State Street Global Advisors Launches Three New Industry SPDR® Exchange Traded Funds
September 29 2011 - 9:54AM
Business Wire
State Street Global Advisors (SSgA)*, the asset management
business of State Street Corporation (NYSE: STT), today announced
that the SPDR S&P® Aerospace & Defense ETF (Symbol:
XAR), SPDR S&P Health Care Services ETF (Symbol: XHS), and SPDR
S&P Software & Services ETF (Symbol: XSW) began trading on
the NYSE Arca on September 29, 2011. The new funds strengthen State
Street’s marketplace leading industry and sector ETF offering,
which now includes 44 SPDRs with $58 billion in assets.
The three new SPDR industry ETFs seek to track the performance
of a series of S&P Select Industry Indices, which are designed
to measure the performance of Global Industry Classification
Standard (GICS®) sub-industries, the most detailed level of
industry definition. Constituent stocks are members of the S&P
Total Market Index, which includes all common equities listed on
the NYSE and NASDAQ US exchanges.
“Having pioneered the first sector ETFs in 1998, State Street
Global Advisors continues to work closely with investors and
advisors to develop new SPDR ETFs that provide precise exposure to
a range of industries and sectors,” said James Ross, senior
managing director and global head of SPDR Exchange Traded Funds at
State Street Global Advisors. “By offering diversified,
cost-efficient access to the aerospace and defense, health care
services, and software and services sub-industries, these three new
SPDR ETFs provide investors with an opportunity to gain tactical
exposure without taking on the risk of buying an individual
stock.”
The three new SPDR ETFs include:
ETF Name Ticker
Index Description Expense
Ratio SPDR S&P Aerospace & Defense ETF
XAR The S&P Aerospace & Defense
Select Index is an equal-weighted index that includes 34
manufacturers of civil or military aerospace and defense equipment,
parts or products, including defense electronics and space
equipment. 0.35% SPDR S&P Health Care
Services ETF XHS The
S&P Health Care Services Select Index is an equal-weighted
index that includes 57 providers of patient health care services,
including dialysis centers, lab testing services, pharmacy
management services, and companies providing business support
services to health care providers. 0.35% SPDR
S&P Software & Services ETF XSW
The S&P Computer Software Select Index is an
equal-weighted index that includes 112 companies engaged in the
research, design, support production, or distribution of products
or processes that relate to software applications, software and
internet systems, and information-based services.
0.35%
State Street manages more than $266** billion in SPDR ETF assets
worldwide (as of June 30, 2011) and is one of the largest ETF
providers in the US and globally.
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 Bank and Trust Company. The
funds provide professional investors with the flexibility to select
investments that are precisely aligned to their investment
strategy. Recognized as the industry pioneer, State Street created
the first ETF in 1993 (SPDR S&P 500® – Ticker SPY). Since then,
we’ve sustained our place as an industry innovator through 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
State Street Global Advisors (SSgA) is a global leader in asset
management. The firm is relied on by sophisticated investors
worldwide for its disciplined investment process, powerful global
investment platform and access to every major asset class,
capitalization range and style. SSgA is the asset management
business of State Street, one of the world’s leading providers of
financial services to institutional investors.
*SPDR ETFs are managed by SSgA Funds Management, Inc., a
registered investment adviser and wholly owned subsidiary of State
Street Bank & Trust Company.
**This AUM includes the assets of the SPDR Gold Trust (approx.
$58 billion as of June 30, 2011), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors serves
as the marketing agent.
ETFs trade like stocks, are subject to investment risk,
fluctuate in market value and may trade at prices above or below
the ETFs net asset value. Brokerage commissions and ETF expenses
will reduce returns.
Because of their narrow focus, sector funds tend to be more
volatile than funds that diversify across many sectors and
companies.
Distributor: State Street Global Markets, LLC, member FINRA,
SIPC, a wholly owned subsidiary of State Street Corporation.
References to State Street may include State Street Corporation and
its affiliates.
Before investing, consider the funds’ investment objectives,
risks, charges and expenses. To obtain a prospectus or summary
prospectus which contains this and other information, call
1-866-787-2257 or visit www.spdrs.com. Read it carefully.
CORP-0399
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