State Street Global Advisors launched a global natural resources exchange traded fund.
The SPDR S&P Global Natural Resources ETF began trading on the NYSE Arca on Tuesday. The fund, which has an annual expense ratio of 0.4%, tracks the performance of the Standard & Poor’s Global Natural Resource Index. It is designed to provide exposure across the energy, metals and mining, and agriculture sectors.
The S&P Global Natural Resource Index includes ninety of the largest publicly-traded companies in global natural resources and commodities businesses.
James Ross, a senior managing director at State Street Global Advisors, which is a unit of State Street Corp., said the fund was developed because of demand from investors and advisors “seeking precise natural resources exposure that is not overweight on the energy sector.”
State Street manages more than $200 billion in SPDR ETF assets globally as of June 30.