State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), has announced a new collaboration with S&P Dow Jones Indices (S&P DJI) to provide investors access to the new SPDR S&P Vision Fund Range.
The Range is designed to provide SPDR clients with exposure to growth opportunities in emerging sectors underpinned by government-led diversification initiatives, such as national security, energy infrastructure, tourism, manufacturing and the digital economy, across regions including the Europe, Middle East and Asia.
The firms write that following collaboration between S&P DJI and SSGA, the Range – which will track S&P DJI’s S&P Vision Index Series – has been designed to offer exposure to sectoral opportunities that may be underrepresented in the market cap yet are viewed to have growth potential.
These opportunities are being driven by visionary shifts in government policy, alongside the emergence of megatrends including demographic changes, decarbonisation, and artificial intelligence, the firms write.
The first ETF offered by SSGA as part of the Range is the SPDR S&P Europe Defense Vision UCITS ETF (DEFV LN).
The SPDR S&P Europe Defense Vision UCITS ETF (DEFV LN) launches as the first fund in SSGA’s planned “Vision” range and will track the newly created S&P Europe Defense Vision Index with the goal of providing investors with cross-sector exposure to European companies that are actively involved in the evolving vision of defence in Europe.
The ETF seeks to provide investors with access to established companies operating in traditional areas of defence, such as defence manufacturing and military aircraft, as well as those emerging in the information technology and communication sectors, that are reshaping the industry by capitalising on the latest technological advancements.
This aligns with EU goals for security, autonomy, and defence cooperation as set out in the European Commission’s “Readiness 2030” plan, which includes an EUR800 billion initiative to strengthen Europe’s defence industry and military capabilities, alongside EUR150 billion in loans for joint defence investments.
The ETF will be competitively priced with a discounted TER of 0.15 per cent for an initial 12-month period, before rising to a TER of 0.30 per cent on 4th June 2026.
Key features of the S&P Europe Defense Vision Index include:
Granular Business Activity – tracking revenue exposure aims to identify companies involved in specific business activities, such as the manufacturing, assembly, and delivery of defense-related products, services, and technologies
Ranking – eligible companies are ranked by military contracting revenue exposure, prioritizing structural growth profile over factors such as company size
Beyond Traditional Defense – designed to capture both major contractors and relevant, emerging players supporting military operations and innovation
Precision & Depth – uses rules-based classifications aimed to identify direct and indirect military involvement, including dual-use technologies
Trusted Global Standard – delivers transparent, standardized metrics for assessing defense exposure across core and adjacent industries, with sources of information
The S&P Europe Defense Vision Index, the underlying index of the ETF, applies an exclusion policy to companies that do not act in accordance with the UN Global Compact (UNGC) principles and its associated standards, conventions and treaties.
Matteo Andreetto, Head of Intermediary Clients Coverage, Europe for State Street Global Advisors, says: “Our new collaboration with S&P DJI continues our legacy of innovation by offering clients a truly unique approach to structural investing. The Range has been carefully curated in an effort to empower our clients to invest for the future, by providing them exposure to forward looking sectors poised for long-term growth. This collaboration is the latest example of how we engage with industry leaders to respond effectively to changing market dynamics, and proactively anticipate clients’ needs, both now and in the future.”
Andrew Keegan, Head of International Product Innovation for State Street Global Advisors, says: “Our view is there’s significant growth potential among key sectors currently in focus for policymakers across Europe and beyond. Our aim with the launch of the Vision Range is to offer investors a way to gain exposure to these strategic growth sectors, in keeping with our commitment to delivering innovative, high-quality solutions to the market. We’re pleased to announce the launch of the SPDR S&P Europe Defense Vision UCITS ETF as the first product in the Range and look forward to developing further products in due course.”
Cameron Drinkwater, Chief Product Officer at S&P Dow Jones Indices, says: “We’re pleased to collaborate with State Street Global Advisors on the launch of the S&P Vision Index Series, which underscores our commitment to developing innovative and forward-looking benchmarks. As investors increasingly look to align portfolios with long-term structural shifts, the S&P Vision Index Series is designed to capture transformative trends across key sectors and regions of the global economy.”
