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Products May 12, 2008
State Street Unveils Two SPDRs
State Street Global Advisors (SSgA), the investment management arm of State Street Corporation, said two SPDR exchange-traded funds (ETFs) will begin trading on the American Stock Exchange Tuesday.
Reported by Ellie Behling
Developed to provide investors with precise exposure to targeted segments of the international markets, the company said the SPDRs include:
- SPDR DJ Wilshire Global Real Estate ETF (ticker: RWO): The ETF is based on the Dow Jones Wilshire Global Real Estate Securities Index (RESI). The index includes more than 240 commercial and residential real estate companies domiciled in 23 countries across the globe, including the U.S (the ETF has expense ratio of 0.5%);
- SPDR S&P International Mid Cap ETF (ticker: MDD) — The index includes more than 850 companies with market capitalizations between $2 and $5 billion domiciled in 25 developed countries outside the U.S. (the ETF has an expense ratio of 0.45%)
“Offering a level of international diversification that has not been readily accessible in the past, the new SPDR S&P International Mid Cap ETF was developed to meet increasing investor demand for more high quality international portfolio management tools,’ said James Ross, Senior Managing Director at State Street. “With the addition of the SPDR DJ Wilshire Global Real Estate ETF, our family of SPDRs ETFs now provides investors with distinct exposure to the domestic, international, and global real estate markets.’
As of March 31, U.S. assets under management in State Street’s ETFs totaled more than $148.2 billion.