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October 01, 2008 at 04:00 AM
State Street Global has unveiled 10 new SPDR exchange-traded funds. The new set of ETFs provides exposure to international industry sectors. Each ETF is linked to an industry sub-index of the S&P/Citigroup World ex U.S. Broad Market Index.
The respective indexes hold between 70 and 1,300 securities from the following sectors: consumer discretionary, consumer staples, energy, financials, health care, industrials, materials, technology, telecommunications and utilities. The expense ratio for all 10 ETFs is one-half percent.
The country exposure of each ETF varies. For example, the SPDR S&P International Energy Sector ETF (IPW) has a 53 percent exposure to the U.K. and Canada, whereas the SPDR S&P International Consumer Discretionary Sector ETF (IPD) has a 36 percent weighting in just Japan.
In contrast, the SPDR S&P International Technology Sector ETF (IPK), with 45 percent, has even more exposure to Japan. The SPDR S&P International Financial Sector ETF (IPF) is less concentrated and has a 36 percent weighting in Japan, the U.K. and Canada.
