State Street launched two new exchange traded funds (ETFs) today. Seeking Alpha reports the ETFs are SPDR S&P International Small Cap (GWX) and the SPDR S&P World ex-U.S. (GWL). GWX includes companies with market caps under $2 billion domiciled in countries outside the U.S.; GWL focuses on more than 5000 companies domiciled in countries outside the U.S. Both are based on S&P/Citigroup Global Indexes. These ETFs are a way for investors to get precise, low-cost access to countries in developed international markets, plus it’s the first cap-weighted tool covering small-cap international equities.
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