State Street Launches Three New Sector ETFs
Continuing a very active month for the ETF industry, State Street rolled out three new sector-specific funds on Thursday. Each of the new products will provide more targeted exposure than the ultra-popular sector SPDRs that focus on the nine major industries of the U.S. economy. The new ETFs include: SPDR S&P Telecom ETF (XTL): This ETF will seek to replicate the S&P Telecom Select Industry Index, a benchmark that includes about 60 different holdings; the largest individual components include Motorola and Verizon. Telecom companies are included in the Technology SPDR (XLK), so the introduction of XTL offers enhanced granularity to that corner of the market. State Street also offers an international telecom ETF; IST currently has about $13 million in assets [see all telecom ETFs]. SPDR S&P Transportation ETF (XTN): This ETF is linked to the S&P Transportation Select Industry Index, a benchmark that consists of companies engaged in various [...] Click here to read the original article on ETFdb.com. Related Posts: No Related Posts
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