State Street Global Advisors has introduced three new sector exchange traded funds in an expansion of its SPDR ETF lineup.
“By offering diversified, cost-efficient access to the aerospace and defense, health care services software and services sub-industries, these three new SPDR ETFs provide investors with an opportunity to gain tactical exposure without taking on the risk of buying an individual stock,” said James Ross, global head of SPDR ETFs at State Street Global Advisors. [All in the Family: State Street's SPDR ETFs]
The new ETFs are designed to track an index of sector-specific sub-industries, the most detailed type of industry exposure. All ETFs are equally-weighted, with expense ratios of 0.35%.
At the end of June, State Street was the second-largest ETF provider in the U.S. by assets with $189.9 billion under management and 99 funds, according to research from BlackRock.
There are 44 SPDR ETFs trading currently, with about $58 billion in assets.
The new ETFs are:
- SPDR S&P Aerospace and Defense ETF (NYSEARCA:XAR)
- SPDR S&P Health Care Services ETF (NYSEARCA:XHS)
- SPDR S&P Software & Services ETF (NYSEARCA:XSW)
Tisha Guerrero contributed to this article.