Spdr S&P International Energy Sector Etf (AMEX:IPW)
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State Street Global Advisors (SSgA), the investment management arm of
State Street Corporation (NYSE: STT), today announced the launch of 10
new SPDR® exchange-traded funds (ETFs) that
began trading on the American Stock Exchange today [July
22, 2008]. With the launch of these new
international sector ETFs, State Street’s
family of SPDR ETFs will number 80, including 31 that provide access to
global and international markets.
The 10 new international sector SPDR ETFs offer a complete suite of
precise tools to gain access to investment opportunities outside of the
United States benchmarked to a series of the S&P®
World ex U.S. Broad Market Indices, these SPDR ETFs are market cap
weighted, include only non-U.S. holdings and utilize the widely
recognized Global Industry Classification Standard, or GICS as it is
more commonly known.
“Developed in response to demand from
investors seeking targeted exposure to sectors that do not include
US-listed securities, our international sector SPDR ETFs offer the
opportunity to make precise, cost-effective tactical and strategic
allocations that can help manage portfolio risk and improve returns,”
said James Ross, senior managing director at State Street Global
Advisors. “Having launched the industry’s
first sector ETFs in 1998, we are pleased to enhance our family of
international ETFs with the addition of these new international
investment tools.”
The new offerings include:
ETF Name
Ticker
Index Description
Expense Ratio
SPDR® S&P®
International Consumer Discretionary Sector ETF
IPD
Index includes more than 990 non-U.S. consumer discretionary
companies with market capitalizations of at least $100 million.
0.50%
SPDR® S&P®
International Consumer Staples Sector ETF
IPS
Index includes more than 330 non-U.S. consumer staples companies
with market capitalizations of at least $100 million.
0.50%
SPDR® S&P®
International Financial Sector ETF
IPF
Index includes more than 1,000 non-U.S. financial services companies
with market capitalizations of at least $100 million.
0.50%
SPDR® S&P®
International Health Care Sector ETF
IRY
Index includes more than 330 non-U.S. health care companies with
market capitalizations of at least $100 million.
0.50%
SPDR®S&P®
International Industrial Sector ETF
IPN
Index includes more than 1,200 non-U.S. industrial companies with
market capitalizations of at least $100 million.
0.50%
SPDR® S&P®
International Materials Sector ETF
IRV
Index includes more than 640 non-U.S. materials companies with
market capitalizations of at least $100 million.
0.50%
SPDR® S&P®
International Technology Sector ETF
IPK
Index includes more than 650 non-U.S. technology companies with
market capitalizations of at least $100 million.
0.50%
SPDR® S&P®
International Telecommunications Sector ETF
IST
Index includes more than 70 non-U.S. telecommunications companies
with market capitalizations of at least $100 million.
0.50%
SPDR®S&P®
International Utilities Sector ETF
IPU
Index includes more than 130 non-U.S. utilities companies with
market capitalizations of at least $100 million.
0.50%
SPDR® S&P®
International Energy Sector ETF
IPW
Index includes more than 300 non-U.S. energy companies with market
capitalizations of at least $100 million.
0.50%
State Street Global Advisors is one of the largest ETF providers in the
United States and globally. As of June 30, 2008, US assets under
management in State Street’s ETFs totaled
more than $138.5 billion – up from $102.1
billion year over year.
About State Street Global Advisors
State Street Global Advisors, the investment management arm of State
Street Corporation (NYSE: STT), delivers investment strategies and
integrated solutions to clients worldwide across every asset class,
investment approach and style. With $1.9 trillion in assets under
management at June 30, 2008, State Street Global Advisors has investment
centers in Boston, Hong Kong, London, Montreal, Munich, Paris,
Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 27 cities
worldwide. For more information, visit State Street Global Advisors at www.ssga.com.
Note to Editors: SPDR®
Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international
and domestic asset classes. Offered by State Street Global Advisors,
SPDR ETFs provide professional investors with the flexibility to select
investments that are precisely aligned to their investment strategy.
Recognized as the industry pioneer, State Street—in
partnership with the American Stock Exchange—created
the first ETF in 1993 (SPDR S&P 500 –
Ticker SPY). Since then, we’ve sustained our
place as an industry innovator through the introduction of many
ground-breaking products, including first-to-market with gold,
international real estate, international fixed income and sector ETFs.
SPDR ETFs are managed by SSgA Funds Management, Inc, a registered
investment adviser and wholly owned subsidiary of State Street Bank and
Trust Company.
ETFs trade like stocks, are subject to investment risk and will
fluctuate in market value.
Foreign investments involve greater risks than U.S. investments,
including political and economic risks and the risk of currency
fluctuations, all of which may be magnified in emerging markets.
Diversification does not ensure a profit or guarantee against loss.
Because of their narrow focus, sector funds tend to be more volatile
than broadly diversified funds and generally result in greater price
fluctuations than the overall market.
Investments in mid-sized companies may involve greater risks than those
in larger, better known companies, but may be less volatile than
investments in smaller companies.
Frequent trading of ETFs could significantly increase commissions and
other costs such that they may offset any savings from low fees or costs.
The “SPDR®”
trademark is used under license from The McGraw-Hill Companies, Inc. (“McGraw-Hill”).
No financial product offered by State Street Corporation or its
affiliates is sponsored, endorsed, sold or promoted by McGraw Hill.
Investors should consider the investment objectives, risks,
charges and expenses of the fund carefully before investing. A
prospectus that contains this and other information about the fund may
be obtained by calling 866.787.2257. Please read the
prospectus carefully before investing. Diversification
does not protect against loss.
Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a
wholly owned subsidiary of State Street Corporation. References to State
Street may include State Street Corporation and its affiliates. Certain
State Street affiliates provide services and receive fees from the SPDR
ETFs.
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