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Products September 29, 2011
SSgA Launches Three ETFs
State Street Global Advisors (SSgA) announced that the SPDR S&P Aerospace & Defense ETF, SPDR S&P Health Care Services ETF, and SPDR S&P Software & Services ETF have begun trading on the NYSE Arca.
Reported by Rebecca Moore
The three new SPDR industry ETFs seek to track the performance of a series of S&P Select Industry Indices, which are designed to measure the performance of Global Industry Classification Standard (GICS) sub-industries, which SSgA says is the most detailed level of industry definition. Constituent stocks are members of the S&P Total Market Index, which includes all common equities listed on the NYSE and NASDAQ U.S. exchanges.
The S&P Aerospace & Defense Select Index is an equal-weighted index that includes 34 manufacturers of civil or military aerospace and defense equipment, parts or products, including defense electronics and space equipment.
The S&P Health Care Services Select Index is an equal-weighted index that includes 57 providers of patient health care services, including dialysis centers, lab testing services, pharmacy management services, and companies providing business support services to health care providers.
The S&P Computer Software Select Index is an equal-weighted index that includes 112 companies engaged in the research, design, support production, or distribution of products or processes that relate to software applications.
All funds have an expense ratio of 0.35%.