Bringing you live news and features since 2006 

SSGA launches ‘innovative technology’ ETF

RELATED TOPICS​

State Street Global Advisors (SSGA) has launched the SPDR FactSet Innovative Technology ETF (XITK) on the NYSE Arca, offering investors exposure to technology companies with high revenue growth, including companies involved in cutting edge research, innovative product and service development, disruptive business models or a combination of these.

"In today’s low growth environment, investors have expressed a desire to access companies with the greatest potential to create change. XITK provides exposure to technology-related companies with high revenue growth, including those with disruptive business models,” says Nick Good, chief operating officer of the US intermediary business at State Street Global Advisors. “This means investing beyond the stalwarts of the tech space and capturing newer firms that are innovating and changing the landscape.”
 
“This FactSet index leverages our patented sector classification system to uniquely identify technology-related companies in new, rapidly evolving areas, such as mobile devices, cyber security and cloud computing,” says Jeremy Zhou, FactSet Indexes Senior Product Manager. “Partnering with SSGA to track such potentially disruptive companies through a transparent, rule-based methodology may offer an exciting new way to target emerging industries with a stronger overall growth profile.”
 
The SPDR FactSet Innovative Technology ETF seeks to track the FactSet Innovative Technology Index, which is designed to represent the performance of US-listed stocks and American Depository Receipts (ADRs) of technology-related companies with high revenue growth. The Index is designed to tracking companies within the highest growth segments of the technology sector and the electronic media sub-sector of the media sector.
 
The Index is equal-weighted to ensure that each of its component securities is represented in approximate equal dollar value at each rebalancing and reconstitution, which may reduce stock specific risk.

Latest News

Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by