State Street Launches Three New ETFs
The SPDR Biotech (XBI), SPDR Homebuilders (XHB) and SPDR Semiconductor (XSD) ETFs track the performance of specific industries and are benchmarked against the Standard & Poor’s (S&P)Select Industry Indexes, according to the announcement.
“The biotechnology, home construction and semiconductor industries have in recent years been key growth drivers or leading indicators of the US economy,” said Greg Ehret, co-head of SSgA’s AdvisorStrategies unit, in the announcement. “With professional investors seeking to inject higher return potential into their portfolios, these new SPDRs are uniquely designed so that investors gain the most direct exposure to their respective industries.”
SSgA is the investment management group of State Street Corporation. More information can be found at www.ssga.com .
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