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Tuesday, November 15, 2005
SSgA Adds Nine ETFs to the Amex
As expected, State Street Global Advisors has launched another nine exchange-traded funds (ETFs). The new funds include the new SPDR Dividend ETF as well as eight streetTRACKS branded products.
All of the funds are traded on the American Stock Exchange, confirmed Cliff Weber, senior vice president of the Amex ETF Marketplace.
Three of the streetTRACKS ETFs track financial industry sub-indices from Keefe, Bruyette and Woods while the other five are based on Dow Jones Wilshire indices.
The SPDR Dividend ETF tracks the S&P High Yield Dividend Aristocrats Index from Standard & Poor's.
Jim Ross, co-head of SSgA's Advisor Strategies unit, said that the new Dow Jones Wilshire-based ETFs are intended to round out the streetTRACKS family of style-based ETFs. Together with SSgA's existing ETFs based on those indices, the new ETFs give investors access to all segments of the U.S. equity market that comprise the SSgA DJ Wilshire Total Market ETF, he explained.
"We believe these additions provide financial advisors and their clients with a more complete suite of tools to build portfolios," he added.
Greg Ehret, the other co-head of SSgA's Advisor Strategies unit, said that the sub-sector ETFs based Keefe, Bruyette & Woods indices are the first of their kind in the marketplace. Those indices track the bank, capital markets and insurance subsets of KBW's financial industry index.
Printed from: MFWire.com/story.asp?s=10847
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