State Street Global Advisors, the investment management arm of State Street Corporation and the largest institutional fund manager in the world, has launched the SPDR S&P International
State Street Global Advisors, the investment management arm of State Street Corporation and the largest institutional fund manager in the world, has launched the SPDR S&P International Dividend ETF on the American Stock Exchange.
The exchange-traded fund seeks to track the S&P International Dividend Opportunities Index, which comprises 100 tradable, exchange-listed stocks from around the world that offer high dividend yields.
The stocks included in the index must have a minimum total market capitalisation of USD1.5bn, a three-month average daily value traded greater than USD10m, and have traded at least 300,000 shares in each of the preceding six months.
Additionally, for inclusion in the index the stocks must meet demonstrate positive five-year earnings growth and profitability, measured by positive earnings per share over the latest 12-month period. Its expense ratio will be 0.45 percent.
‘The SPDR S&P International Dividend ETF was developed in response to strong demand from our clients seeking the competitive yield opportunities available from foreign company dividends, which have historically yielded more than those of US companies,’ says State Street senior managing director Anthony Rochte.
‘Offering efficient, precise exposure to foreign companies with proven track records of generating both attractive income and steady earnings potential, the fund helps to further strengthen our family of international ETFs.’
State Street managed more than USD158bn in ETF assets worldwide at the end of last year and is one of the largest providers in the US and globally. State Street Global Advisors had a total of USD2trn in assets under management as of December.