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SPDR, MFS Offer Actively Managed ETFs Suite

NEW YORK (TheStreet) --Yesterday we looked at the first of what will likely be several partnerships between investment companies to bring new and what they hope will be innovative ETFs to the market.

ETF giant, SPDR has paired with traditional mutual fund giant MFS to launch three new systematic equity ETFs.

  • SPDR MFS Systematic Core Equity (SYE)
  • SPDR MFS Systematic Growth Equity (SYG)
  • SPDR MFS Systematic Value Equity SYV

They are SPDR funds that are actively managed by MFS. The systematic approach means combining fundamental and quantitative analysis to build and then maintain the portfolios. The process starts with screening the relevant universe for the specific fund for stocks rated buy or hold rated by MFS and then those stocks are quantitatively scored on a proprietary multifactor model for inclusion in the fund.

SPDR and MFS believe that current conditions make for a favorable time for the sort of stock picking that these funds will employ because of expectations for improved economic growth which they believe will lead to improved earnings growth. They also note decreased correlations as being conducive for a stock picker's market. While you would expect a fund provider to make a favorable case for its funds, this week's Barron's made a similar argument for active management.

All three funds benchmark to domestic, large cap indexes but the funds will have more concentrated portfolios with 40 to 55 holdings.

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