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
|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|
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.