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Select Sector SPDRs lower expense ratios for nine ETFs

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Select Sector SPDRs, a family of exchange traded funds that divides the S&P 500 into nine individual sector funds, has lowered the average expense ratio for its nine sector ETFs fro

Select Sector SPDRs, a family of exchange traded funds that divides the S&P 500 into nine individual sector funds, has lowered the average expense ratio for its nine sector ETFs from 0.23 to 0.21 per cent as of the beginning of February.

‘When we launched these funds more than ten years ago, our expense ratio was 0.65 per cent,’ says Dan Dolan (pictured), director of wealth management strategies for the funds’ parent, the Select Sector SPDR Trust. ‘Our board and the management of the Select Sector SPDR Trust made a commitment to move expenses lower as assets grew.

‘The lowering of our expense ratio by another 8.7 per cent is made in the spirit of that commitment, and to maintaining our ‘investor first’ approach, making our sector ETFs accessible and affordable to as many investors as possible.’

Launched in 1998 and with more than USD19.8bn in assets as of 6 February, Select Sector SPDRs claims to be the oldest brand name in the exchange traded funds sector.

The Select Sector SPDR ETFs divide the S&P 500 into nine sectors: consumer discretionary, consumer staples, energy, financials, healthcare, industrials, materials, technology and utilities.

SSgA Funds Management acts as the adviser to the trust and, subject to the supervision of the board of trustees, is responsible for the investment management of the Select Sector SPDR funds.

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