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Wednesday, May 21, 2008

SSgA Expands its Roster of Emerging Market ETFs

by: Armie Margaret Lee

State Street Global Advisors on Tuesday took the wraps off its eighth emerging market ETF. The SPDR S&P Emerging Markets Small Cap ETF, unveiled Tuesday at the American Stock Exchange, comes with an expense ratio of 65 bps. Below is the news release issued by SSgA on Tuesday.


Company Press Release

BOSTON--(BUSINESS WIRE)--State Street Global Advisors (State Street), the investment management arm of State Street Corporation (NYSE: STT), today announced the launch of the SPDR S&P Emerging Markets Small Cap ETF (Ticker: EWX) on the American Stock Exchange.

The SPDR S&P Emerging Markets Small Cap ETF seeks to track S&P/Citigroup Emerging Market Small Cap < $2 Billion Index, which includes more than 1,600 companies with market capitalizations below $2 billion domiciled in 26 countries. Its expense ratio is 0.65%.

“The SPDR S&P Emerging Markets Small Cap ETF is a key addition to our growing family of SPDR ETFs,” said James Ross, senior managing director at State Street. “In addition to helping investors further diversify an international equity portfolio, EWX offers access to a market segment that has been the source of increasing interest, as small cap companies are often well positioned to take advantage of the strong growth occurring within emerging markets.”

The SPDR S&P Emerging Markets Small Cap ETF compliments State Street’s existing suite of emerging markets ETFs, which now includes eight SPDR ETFs that provide precise, low cost access to segments of the market that have previously been inefficient or not readily accessible. These emerging markets SPDR ETFs include:

  • SPDR S&P BRIC 40 ETF (BIK)

  • SPDR S&P China ETF (GXC)

  • SPDR S&P Emerging Asia Pacific ETF (GMF)

  • SPDR S&P Emerging Europe ETF

  • SPDR S&P Emerging Latin America ETF (GML)

  • SPDR S&P Emerging Markets ETF (GMM) and

  • SPDR S&P Emerging Middle East & Africa ETF (GAF).

    State Street is one of the largest ETF providers in the United States and abroad with more than $159 billion of ETF assets under management.(a) Today, State Street’s family of SPDR Exchange Traded Funds allows investors to choose from more than 66 ETFs globally. For more information on SPDR exchange traded funds visit www.spdretfs.com.

    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 $2 trillion in assets under management at March 31, 2008, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Toronto, Montreal, Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 27 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com. 

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