State Street to Launch 15 New ETFs

State Street is offering 15 more exchange-traded funds within its StreetTracks family, Morningstar reports.  The new ETFs will consist of large-cap, mid-cap value, mid-growth, mid-blend and small-cap.

In addition, State Street will also be creating a sector ETF that will concentrate primarily on banking, capital markets and insurance industries.

The new ETFs will track Dow Jones Wilshire index, while the financial industry ETFs will follow the Keefe, Bruyette & Woods Inc. benchmarks.

The new portfolios will hold 24 stocks. The SPDR Dividend ETF will aim to track the S&P Dividend Index.

With this move, the StreetTracks family will be 22 and State Street's total ETFs will be 31.

 The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.