State Street launches four S&P 500 sector SPDR ETFs with uncapped weights and 0.12% fee
Each fund holds its Select Sector SPDR counterpart as a base and buys top index names directly to reach the sector's full S&P 500 weight.
At a glance
State Street launched four S&P 500 Market Sector SPDR ETFs, each charging 0.12% a year and carrying sector weights at full, uncapped levels.
Each new Market Sector fund holds its Select Sector counterpart as a base, then buys the sector's largest index names directly.
An investor buying a Market Sector fund ends up holding two State Street products at once, because the portfolio includes the Select Sector SPDR.
State Street launched four S&P 500 Market Sector SPDR ETFs, each charging 0.12% a year and carrying sector weights at full, uncapped levels. The funds sit alongside the Select Sector SPDRs the firm already runs.
Each new Market Sector fund holds its Select Sector counterpart as a base, then buys the sector's largest index names directly. Those direct positions lift the portfolio to the sector's uncapped weight in the S&P 500, according to the launch description.
An investor buying a Market Sector fund ends up holding two State Street products at once, because the portfolio includes the Select Sector SPDR.
Continue this analysis
Get the complete ETF Daily analysis and every detail that follows.
Enter a valid work email to continue reading.
Already a reader? Sign inETF Daily's daily briefing. Unsubscribe anytime.
The TapeHANetf report: global ETF assets top USD24tn, European ETPs hit record USD3.9tn
The Tape21shares launches synthetic Anthropic ETP using swaps on perpetual-futures index
The Tape