The S&P 500 Ex-Technology ETF (NYSEArca: SPXT), which debuted nearly three years ago, is getting a new index.
In a statement released Monday, Maryland-based ProShares said SPXT will swap benchmarks on or about September 21, 2018. The fund currently follows the S&P 500 Ex-Information Technology & Telecommunication Services Index.
“The ETF’s new index, the S&P 500 Ex-Information Technology Index, is designed to provide exposure to the companies of the S&P 500 Index with the exception of those companies in the Information Technology sector,” according to the statement.
Communication Services is a new spin on the old telecommunications sector and includes some stocks that have been moved out of the technology sector.
Telecommunications Sectors Renamed Communications Services
Last year, index providers MSCI and Standard & Poor’s announced the telecommunications sectors would be renamed communications services and would add companies from the consumer discretionary and technology sectors. Tech additions include Facebook and Google parent Alphabet Inc.
Other ex-sector funds from ProShares include the S&P 500 Ex-Energy ETF (NYSEArca: SPXE), which provides exposure to S&P 500 companies with the exception of those included in the Energy Sector, and the S&P 500 Ex-Financial ETF (NYSEArca: SPXN), which tracks the same S&P 500 group sans financial stocks. The firm also offers the S&P 500 Ex-Health Care ETF (NYSEArca: SPXV), which excludes healthcare stocks.
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