State Street Global Advisors has launched three new exchange-traded funds, the SPDR S&P Aerospace & Defense ETF, SPDR S&P Health Care Services and SPDR A&P Software & Services funds.
With these offerings, State Street now has 44 ETFs with a total of $58 billion in assets. The new ETFs are tied to a series of S&P Select Industry Indices.
“Having pioneered the first sector ETFs in 1998, State Street Global Advisors continues to work closely with investors and advisers to develop new SPDR ETFs that provide precise exposure to a range of industries and sectors,” said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at SSgA.
“By offering diversified, cost-efficient access to the aerospace and defense, healthcare services, and software and services sub-industries, these three new SPDR ETFs provide investors with an opportunity to gain tactical exposure without taking on the risk of buying and individual stock.”
-- This article first appeared on Money Management Executive.