Telecom & Wireless
ETF Launch: International Telecom Sector From State Street (STT, IST)
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State Street Corporation (NYSE: STT) 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 Telecommunications Sector ETF (AMEX: IST)
- This index includes more than 70 non-US telecommunications companies with market caps of at least $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
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