State Street Corporation’s investment management arm has plans to list three exchange-traded funds on the American Stock Exchange that will follow the performance of the biotechnology, home building and semiconductor industries.
The EFTs will be listed as: SPDR Biotech (XBI), SPDR Homebuilders (XHB) and SPDR Semiconductor (XSD).
“The biotechnology, home construction and semiconductor industries have in recent years been key growth drivers or leading indicators of the US economy,” said Greg Ehret, co-head of State Street’s Advisor Strategies. “With professional investors seeking to inject higher return potential into their portfolios, these new SPDRs are uniquely designed so that investors gain the most direct exposure to their respective industries.”