Products October 24, 2011

SSgA Announces New Benchmarks for Five SPDR ETFs

State Street Global Advisors (SSgA) announced changes to the indices and names of five financial industry SPDR exchange-traded funds (ETFs). 
Reported by

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 ETFs:
 

Current ETF Name 

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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 not change.

“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. “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.”

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