New products introduced over the last week include two new SPDR ETFs from State Street.
In addition, Fidelity Investments announced that it would close the retail and advisor share classes of its Small Cap Value Fund to new accounts as of March 1.
Here are the latest developments of interest to advisors:
1) State Street Unveils Low-Volatility SPDR ETFs
What Your Peers Are Reading
State Street Global Advisors, the asset management arm of State Street Corp., said Thursday that it had launed the SPDR Russell 2000 Low Volatility ETF (SMLV) and the SPDR Russell 1000 Low Volatility ETF (LGLV), designed to provide investors with exposure to small- and large-cap equities while managing risk.
SMLV seeks to track the performance of the Russell 2000 Low Volatility Index. The index is composed of low-volatility stocks from the Russell 2000 Index based on volatility from the previous 252 trading days; it is then optimized to provide low-volatility small-cap exposure while managing turnover and neutralizing other factors, such as beta and momentum. SMLV’s expense ratio is 0.25%.
LGLV also seeks to track the performance of the Russell 1000 Low Volatility Index, the Index optimized to provide low-volatility large-cap exposure while managing turnover and neutralizing other factors, such as beta and momentum. LGLV’s expense ratio is 0.20%.