SsgA Announces New Benchmarks for Five SPDR ETFs
Effective October 24, 2011, the five SPDR ETFs will seek to track S&P Select Industry Indices that provide access to the same market segments as funds’ current index and offer broader diversification and reduced concentration risk. The changes will affect the following SPDR ETFs:
Current ETF Name | Current Index Name | New ETF Name | New Index Name |
SPDR KBW Bank ETF (KBE) | KBW Bank Index
| SPDR S&P Bank ETF (KBE)
| S&P Banks Select Industry Index
|
SPDR KBW Capital Markets ETF (KCE)
| KBW Capital Markets Index
| SPDR S&P Capital Markets ETF (KCE)
| S&P Capital Markets Select Industry Index
|
SPDR KBW Insurance ETF (KIE)
| KBW Insurance Index
| SPDR S&P Insurance ETF (KIE)
| S&P Insurance Select Industry Index
|
SPDR KBW Mortgage Finance ETF (KME)
| KBW Mortgage Finance Index
| SPDR S&P Mortgage Finance ETF (KME)
| S&P Mortgage Finance Select Industry Index
|
SPDR KBW Regional Banking ETF (KRE)
| KBW Regional Banking Index
| SPDR S&P Regional Banking ETF (KRE)
| S&P Regional Banks Select Industry Index
|
The funds’ ticker symbols and expense ratios will remain unchanged.
“As a leading manager of industry and sector ETFs, we are constantly reviewing the SPDR ETF offering to improve access to a wide range of asset classes,” said James Ross, Senior Managing Director and Global Head of SPDR Exchange Traded Funds at State Street Global Advisors, in the announcement. “In addition to unifying our industry SPDR ETFs around a single index provider, the new S&P indices offer investors greater diversification and a rules-based methodology that enhances transparency.”