State Street Global Advisors Launches European Small Cap SPDR ETF
State Street Global Advisors (SSgA), the asset management arm of State Street Corporation (NYSE:STT) today announced the launch of the SPDR EURO STOXX Small Cap ETF (Symbol: SMEZ). Designed to provide investors with access to small companies across the euro zone, SMEZ began trading on the NYSE Arca on June 5, 2014.
“As Europe’s economy recovers from a double-dip recession that began in 2008, investors are growing more optimistic about the growth potential of European equities,” said James Ross, executive vice president and global head of SPDR Exchange Traded Funds at State Street Global Advisors. “With the launch of the SPDR EURO STOXX Small Cap ETF, investors will have an opportunity to diversify their European equity holdings while gaining exposure to small cap stocks, an asset class that tends to be highly correlated to the performance of local markets 1.”
The SPDR EURO STOXX Small Cap ETF strengthens State Street Global Advisors’ suite of SPDR ETFs designed to provide precise exposure to European equities. Other funds include the SPDR EURO STOXX 50 ETF (Symbol: FEZ) and the SPDR STOXX Europe 50 ETF (Symbol: FEU). Year-to-date, FEZ and FEU have attracted more than $646 million of new inflows as of May 30, 2014.
The SPDR EURO STOXX Small Cap ETF seeks to track the performance of the EURO STOXX Small Index. The index consists of a representation of small capitalization companies located within European Union countries that have adopted the euro as their currency. Countries covered in the index have historically included Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands and Spain. As of May 30, 2014 there were 96 securities included in the index. The SPDR EURO STOXX Small Cap ETF expense ratio is 0.45 percent.About SPDR Exchange Traded Funds SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSgA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Bank and Trust Company. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com. About State Street Global Advisors State Street Global Advisors (SSgA) is a global leader in asset management. The firm is relied on by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street Corporation, one of the world’s leading providers of financial services to institutional investors.
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