State Street adds two SPDR bond funds positioned for emerging market, international equities

By Tali David

Minneapolis, Feb. 28 - State Street Global Advisors said that the SPDR MSCI EM 50 exchange-traded fund and the SPDR MSCI AWCI IMI ETF began trading on the NYSE Arca on Tuesday.

The new funds are designed to provide investors with an opportunity to tap into the growth potential of emerging market and international equities, according to a company press release.

The SPDR MSCI EM 50 ETF seeks to track the performance of the MSCI EM 50 Index, State Street said. The index is a free float-adjusted market capitalization-weighted index that includes 50 of the largest MSCI Emerging Markets Index constituents.

To enhance liquidity, State Street said the index applies eligibility screens that exclude smaller emerging market countries and replaces constituent securities for selected markets with depositary receipts. The expense ratio is 0.50%.

The SPDR MSCI ACWI IMI ETF seeks to track the performance of the MSCI All Country World Investable Market Index. The index is a free float-adjusted market capitalization-weighted index that captures up to 98% of the developed and emerging investable market universe, according to the release.

As of Dec. 31, the index was composed of 8,920 publicly traded securities across 45 countries. The expense ratio is 0.25%.

State Street is a Boston-based financial services provider.

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