State Street ETF Launch: International Consumer Discretionary Sector (IPD)

State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today:

SPDR(R) S&P(R) International Consumer Discretionary Sector ETF (AMEX: IPD)

• The index has over 990 non-U.S. consumer discretionary companies with market caps of greater than $100 million.

These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings.  The expense ratio on each of these ten ETF’s is listed as 0.50%.

Jon C. Ogg
July 22, 2008