State Street is giving some of the indexes their exchange traded funds (ETFs) track a bit of a makeover.
State Street is changing up nine of their SPDR ETFs by transforming some of the indexes. The changes include dropping Dow Jones in favor of S&P on seven of the ETFs.
According to Jackie Noblett for Ignites, the shift will take place around Dec. 17, according to Security and Exchange Commission (SEC) filings. The provider is making the moves in part as a response to investors who were calling for them to bring S&P indexes to more of its ETFs. [S&P 500 ETFs: The Most American of Them All?]
In all, the revamped funds provide more precise and uniform products to a connected advisor and retail investor market that is growing more sophisticated in its use of ETFs. [Play the S&P 500 With ETFs.]
The full list of affected ETFs can be found on Ignites.
Tisha Guerrero contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.