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. ]
Tisha Guerrero contributed to this article.
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