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Three New SPDRs Set to Crawl

State Street Global Advisors launches biotech, homebuilder and semiconductor ETFs.

Arachnophobes beware, State Street Global Advisors is releasing more "SPDRs" -- its brand of exchange-traded funds, onto the market.

State Street Global Advisors, or SSgA, added three sector SPDRs -- short for Standard & Poor's Depository Receipts and commonly known as "spiders" -- to its lineup. The

Biotech SPDR

(XBI) - Get SPDR S&P BIOTECH ETF Report

,

Homebuilders SPDR

(XHB) - Get SPDR S&P Homebuilders ETF Report

and

Semiconductor SPDR

(XSD) - Get SPDR S&P Semiconductor ETF Report

all started trading on the American Stock Exchange Monday morning.

The ETFs track the performance of specific industries and are benchmarked against the Standard & Poor's Select Industry Indices. Each index is constructed with an equal-weighted methodology and is rebalanced quarterly in order to prevent a few select stocks from dominating the performance of the index. The expense ratio for each ETF is 35 basis points.

"The biotechnology, home construction and semiconductor industries have in recent years been key growth drivers or leading indicators of the U.S. economy," says Greg Ehret, co-head of SSgA's Advisor Strategies unit. "With professional investors seeking to inject higher return potential into their portfolios, these new SPDRs are uniquely designed so that investors gain the most direct exposure to their respective industries."

The latest offering from SSgA, the investment management arm of

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State Street Corp.

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, follows its November launch of nine new ETFs, including the

Dividend SPDR

(SDY) - Get SPDR S&P Dividend ETF Report

,

Dow Jones Wilshire Style ETFs

and

KBW Sub-Sector ETFs

.

SSgA currently has more than $94 billion in ETF assets under management and is the second-largest provider of ETFs behind Barclay's Global Investors, with $170 billion. State Street introduced the first ETF, the

SPDR

(SPY) - Get SPDR S&P 500 ETF Trust Report

, in 1993.