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SSGA adds to single-country SPDR ETF suite

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State Street Global Advisors (SSGA) has added the SPDR Solactive Hong Kong ETF (ZHOK) to its existing suite of single-country ETFs.

In addition, the existing single-country ETFs, which provide exposure to Canada, Germany, Japan and the United Kingdom are all changing indices, names and tickers, and will carry lower expense ratios.
 
The SPDR Solactive Hong Kong ETF will track the Solactive GBS Hong Kong Large & Mid Cap Index, a market capitalisation index designed to measure the equity market performance of large and mid-cap companies in Hong Kong. As of 30 August, 2018, the index comprised 58 securities. ZHOK has a net expense ratio of 0.14 per cent and is now trading on the NYSE Arca Exchange.
 
The fexisting funds will now no longer track StrategicFactors smart beta indices and will instead track market capitalisation weighted indices designed by Solactive.
 
“Investors are seeking traditional market-cap weighted beta indices when adding country-specific international exposures to their portfolios,” says Noel Archard, global head of SPDR Product at State Street Global Advisors. “Launching the SPDR Solactive Hong Kong ETF, while also changing the underlying indices and lowering the fees of four single-country SPDRs, provides our clients with an offering that is better aligned with their approach to single-country strategies.”
 

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