State Street launches four S&P 500 market sector SPDR ETFs
STT•State Street launched four sector ETFs tracking market-cap-weighted S&P 500 sector indexes in consumer discretionary, consumer staples, energy and technology. The funds use related Select Sector SPDR ETFs, direct holdings or derivatives to track their indexes.
1. Four sector funds
State Street launched the XLYM, XLPM, XLEM and XLKM ETFs, covering consumer discretionary, consumer staples, energy and technology. The funds target market-cap-weighted S&P 500 sector indexes without capping individual stock weights, and may use related Select Sector SPDR ETFs, direct holdings or derivatives to track the indexes.
2. Sector assets
State Street cited nearly $400 billion in global sector ETF assets under management.
