State Street Global Advisors is making a few changes to its lineup.
First, the firm has launched the SPDR Russell 2000 ETF (TWOK), which began trading on NYSE Arca today. The ETF is benchmarked to the Russell 2000 Index, which measures the performance of the small-cap segment of the US equity market.
Also, SSgA’s SPDR Dow Jones Total Market ETF (TMW), SPDR Dow Jones Large Cap ETF (ELR) and the SPDR Dow Jones Mid Cap ETF (EMM) have switched their benchmarks to the Russell 2000 Index and have been renamed SPDR Russell 3000 ETF (THRK), SPDR Russell 1000 ETF (ONEK) and the SPDR Russell Small Cap Completeness ETF (RSCO), respectively.
“Our ETF leadership drives our commitment to continually reviewing the SPDR offering to ensure it provides our clients with access to a broad range of asset classes and strategies,” stated James Ross, senior managing director and global head of SPDR Exchange Traded Funds at SSgA. “The Russell indexes are strong US equity benchmarks that are backed by a transparent, rules-based methodology that is accurate and replicable.”
SSgA managed more than $352 billion in SPDR ETF assets worldwide as of March 31.