Dow Jones Indexes and Wilshire Associates Incorporated, an investment consulting, investment management and investment technology firms, announced that five Dow Jones Wilshire US Size and Style indexes will serve as the basis of exchange-traded funds being launched by State Street Global Advisors.
State Street also switched the underlying indexes of four existing ETFs to the Dow Jones Wilshire Style Indexes from the Dow Jones US Style Indexes, meaning that it is offering ETFs on the full set of Dow Jones Wilshire Size and Style Indexes.
The new ETFs, which are already being traded on the American Stock Exchange-combined with the four that switched indexes-capture the top 2,500 U.S. stocks in the Dow Jones Wilshire 5000 Composite Index, according to size and style.
The underlying-size indexes for the new ETFs are the Dow Jones Wilshire U.S. Large-Cap Index, Dow Jones Wilshire U.S. Mid-Cap Index and the Dow Jones Wilshire U.S. Small-Cap Index. The new Dow Jones Wilshire U.S. Mid-Cap Growth and Dow Jones Wilshire U.S. Mid-Cap Value ETFs will complement the transitioned Dow Jones Wilshire U.S. Large-Cap Growth, Dow Jones Wilshire U.S.Large-Cap Value, Dow Jones Wilshire U.S. Small-Cap Growth and Dow Jones Wilshire U.S. Small-Cap Value ETFs.
“The Dow Jones Wilshire Index family is the broadest measure of the U.S. stock market,” said Michael A. Petronella, president, Dow Jones Indexes/Ventures. “State Street Global Advisor’s decision to issue ETFs based on the full suite of Dow Jones Wilshire U.S. Style Indexes ensures that best practices and methodology for measuring these categories are being utilized.”
The four existing-style ETFs-previously based on the Dow Jones US Large-Cap Growth Index, Dow Jones US Large-Cap Value Index, Dow Jones U.S. Small-Cap Growth Index and Dow Jones U.S. Small-Cap Value Index-switched late last month to the Dow Jones Wilshire U.S. Large-Cap Growth Index, Dow Jones Wilshire U.S. Large-Cap Value Index, Dow Jones Wilshire U.S. Small-Cap Growth Index and Dow Jones Wilshire U.S. Small-Cap Value Index.
“The introduction of five new style-based ETF products derived from the Dow Jones Wilshire Index family enhances SSgA’s ETF offerings and brings customers a full range of investment tools to meet their financial goals,” said Jim Ross, co-head of State Street’s Advisor Strategies unit. “By adopting the remaining Dow Jones Wilshire U.S. Style Indexes for our existing style-based street TRACKS ETFs, we have ensured that our customers can access every segment of the U.S. equity market across a complete portfolio of investment styles.”
The Dow Jones Wilshire US Indexes family comprises the Dow Jones Wilshire 5000 Composite Index, Dow Jones Wilshire RESI Index, Dow Jones Wilshire REIT Index, Dow Jones Wilshire US Industry Indexes and Dow Jones Wilshire US Style Indexes.