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SPDR® FactSet Innovative Technology ETF Provides Exposure to Fastest Growing Companies in the Technology Sector and Electronic Media Sub-Sector
January 14, 2016
XITK offers investors a unique opportunity to access the technology sector and electronic media sub-sector by seeking to provide exposure to 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," said 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 U.S. sector classification system to uniquely identify technology-related companies in new, rapidly evolving areas, such as mobile devices, cyber security and cloud computing," explained 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.
The SPDR FactSet Innovative Technology ETF's gross expense ratio is 0.45 percent. For more information on XITK, visitwww.spdrs.com.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com.
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been committed to helping financial professionals and those who rely on them achieve their investment objectives. We partner with institutions and financial professionals to help them reach their goals through a rigorous, research-driven process spanning both active and index disciplines. We take pride in working closely with our clients to develop precise investment strategies, including our pioneering family of SPDR ETFs. With trillions* in assets under management, our scale and global footprint provide unrivaled access to markets and asset classes, and allow us to deliver expert insights and investment solutions.
State Street Global Advisors is the investment management arm of State Street Corporation.
*Assets under management were $2.2 trillion as of September 30, 2015. Assets under management include approximately $25 billion as of September 30, 2015, for which State Street Global Markets, LLC, an affiliate of SSGA, serves as the distribution agent.
FactSet is a leading provider of integrated financial information and analytical applications. More than 63,000 users stay ahead of global market trends, access extensive company and industry intelligence, and monitor performance with FactSet's desktop analytics, mobile applications, and comprehensive data feeds. The Company has been included in FORTUNE's Top 100 Best Companies to Work For, the United Kingdom's Great Places to Work and France's Best Workplaces. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE:FDS) (NASDAQ:FDS). Follow us on Twitter: www.twitter.com/factset.