State Street Global Advisors
has introduced three new exchange-traded funds that track the performance of the biotechnology, home construction and semiconductor industries.
The SPDR Biotech
, SPDR Homebuilders
and SPDR Semiconductor
, which began trading Monday on the American Stock Exchange, are benchmarked against the Standard & Poor’s Select Industry Indexes.
State Street officials cited the three sectors as among the economy’s key growth drivers in recent years.
"The introduction of these ETFs demonstrates our ability to provide investors with a cost-effective and simple method of trading distinct slices of the US economy," said Jim Ross, co-head of SSgA’s Advisor Strategies, in a statement
Monday’s launch follows the Boston-based firm’s rollout of nine ETFs in November, including the SPDR Dividend ETF
Stay ahead of the news ... Sign up for our email alerts now