February 08, 2006 at 8:42 am by Tom Lydon
State Street Global Advisors, or SSgA, just added
three sector SPDRs to its lineup. The Biotech SPDR (XBI), Homebuilders SPDR (XHB ) and Semiconductor SPDR (XSD ) are trading on the American Stock Exchange.
SSgA introduced the first ETF (the S&P 500 SPY) back in 1993 but has seemed to limp along in the product development in the past few years. With AmVestCap’s recent purchase of PowerShares and Duetche Bank’s introduction of a commodity ETF this week, SSgA may be feeling the heat as major players are entering the ETF space. Look for increased competition to bring more ETFs to the marketplace in the coming months.
Tags: Homebuilders
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