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.
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.