Spyders Widen Web

Arachnophobes beware: The Spyders are multiplying.

State Street Global Advisors, the investment management arm of State Street (STT), has announced that it's rebranding its exchange-traded funds so they all will carry the popular Spyder brand name.

The rebranding effort began Monday and is expected to be completed this year. All tickers for the ETFs will remain the same.

The first Spyder ETF, which also was the first ETF to hit the market, launched in 1993 and was formally known as the S&P Depositary Receipts S&P 500 Index (SPY). The acronym for S&P Depositary Receipts, SPDR, was the basis for the nickname Spyders, the root of which is the ticker SPY.

State Street later launched several other ETFs under the Spyder brand name, including ETFs that track specific sectors of the market and industries. State Street also has launched ETFs under the brand name streetTracks and was behind the Dow Diamonds (DIA) ETF.

Future ETFs that State Street launches also will be branded Spyders.

James Ross, senior managing director of State Street Global Advisors, says that research into the retail, advisory and institutional spaces found that the Spyder brand name "really stands out on its own" as a quality brand.

"I think it helps to differentiate products in the marketplace, in particular a marketplace that is getting more crowded every day," he says.

Ross declined to make any predictions about how the rebranding could affect State Street's ETF assets -- at the end of 2006, the company had $101.88 billion in ETF assets. However, he says the biggest impact likley will be in the retail and advisory channels, as they will be able to better identify the suite of products with the brand.

Ross adds that he expects the rebranding to have an immediate impact on investor awareness, particularly because the company also has launched a large campaign to promote Spyders.

In addition to renaming many of its ETFs, State Street also rebranded its Spyders Web site, introduced a new logo -- which as you probably guessed is a spider -- and began a major ad campaign based on the slogan "Precise in a world that isn't." The commercials began airing last week.

Tony Rochte, head of U.S. intermediary sales and client service at State Street Global Advisors, says: "The new brand platform centers around the concept of precision in two ways. ... First, the suggestion of SPDR product's purity, and second, what investors look for in an investment: a vehicle that helps them to precisely match their investment strategy."

The Giant Spyder Invasion The following ETFs began trading under new names Monday
Former Name	New Name	Ticker
streetTRACKS Dow Jones Global Titans ETF	SPDR DJ Global Titans ETF	DGT
streetTRACKS DJ Wilshire Large Cap ETF	SPDR DJ Wilshire Large Cap ETF	ELR
streetTRACKS DJ Wilshire Large Cap Growth ETF	SPDR DJ Wilshire Large Cap Growth ETF	ELG
streetTRACKS DJ Wilshire Large Cap Value ETF	SPDR DJ Wilshire Large Cap Value ETF	ELV
streetTRACKS DJ Wilshire Mid Cap ETF	SPDR DJ Wilshire Mid Cap ETF	EMM
streetTRACKS DJ Wilshire Mid Cap Growth ETF	SPDR DJ Wilshire Mid Cap Growth ETF	EMG
streetTRACKS DJ Wilshire Mid Cap Value ETF	SPDR DJ Wilshire Mid Cap Value ETF	EMV
streetTRACKS DJ Wilshire Small Cap ETF	SPDR DJ Wilshire Small Cap ETF	DSC
streetTRACKS DJ Wilshire Small Cap Growth ETF	SPDR DJ Wilshire Small Cap Growth ETF	DSG
streetTRACKS DJ Wilshire Small Cap Value ETF	SPDR DJ Wilshire Small Cap Value ETF	DSV
streetTRACKS DJ Wilshire Total Market ETF	SPDR DJ Wilshire Total Market ETF	TMW
SPDR Dividend ETF	SPDR S&P® Dividend ETF	SDY
SPDR Homebuilders ETF	SPDR S&P Homebuilders ETF	XHB
SPDR Biotech ETF	SPDR S&P Biotech ETF	XBI
SPDR Metals and Mining ETF	SPDR S&P Metals & Mining ETF	XME
SPDR Oil & Gas Equipment & Services ETF	SPDR S&P Oil & Gas Equipment & Services ETF	XES
SPDR Oil & Gas Exploration & Production ETF	SPDR S&P Oil & Gas Exploration & Production ETF	XOP
SPDR Pharmaceuticals ETF	SPDR S&P Pharmaceuticals ETF	XPH
SPDR Retail ETF	SPDR S&P Retail ETF	XRT
SPDR Semiconductor ETF	SPDR S&P Semiconductor ETF	XSD
streetTRACKS Russell/Nomura PRIME Japan ETF	SPDR Russell/Nomura PRIME™ Japan ETF	JPP
streetTRACKS Russell/Nomura Small Cap Japan ETF	SPDR Russell/Nomura Small Cap™ Japan ETF	JSC
streetTRACKS DJ Wilshire International Real Estate ETF	SPDR DJ Wilshire International Real Estate ETF	RWX
Source: TheStreet.com Ratings