State Street Global Advisors launches three ‘innovative industry’ ETFs
State Street Global Advisors (SSGA) has launched three SPDR ETFs tracking Kensho New Economies indices.
Designed to complement State Street Global Advisors’ existing sector and industry SPDR ETF suite, the new ETFs may help investors by providing both tactical and long-term innovative investment ideas with a transparent, rules-based approach.
The three ETFs, which track proprietary index methodologies developed by Kensho Technologies, a provider of next-generation analytics, machine learning, and data visualisation systems, are: SPDR Kensho Intelligent Structures ETF (XKII); SPDR Kensho Smart Mobility ETF (XKST); SPDR Kensho Future Security ETF (XKFS).
“We are continuously looking for opportunities to provide investors with the tools necessary for tapping into key market trends and new economic developments,” says Nick Good, co-head of the Global SPDR business at State Street Global Advisors. "With the launch of XKII, XKST and XKFS, investors can make targeted allocations providing exposure to the firms behind the emerging trends that are reshaping our economy, and very way of life."
The SPDR Kensho Intelligent Structures ETF seeks to track the Kensho Intelligent Infrastructure Index. This index aims to capture companies providing advanced products and services in the areas of smart building infrastructure, smart power grids, intelligent transportation infrastructure, and intelligent water infrastructure.
The SPDR Kensho Smart Mobility ETF seeks to track the Kensho Smart Transportation Index. This index aims to capture companies providing advanced products and services in the areas of autonomous vehicles, drones and drone technology for civilian / commercial application, and advanced transport systems.
The SPDR Kensho Future Security ETF seeks to track the Kensho Future Security Index. This index aims to capture companies providing advanced products and services in the areas of cyber security, advanced border security, and the following areas for military application: robotics, drones and drone technologies, space technology, wearable technologies and virtual or augmented reality activities.
John van Moyland, co-head of Financial Products at Kensho, adds: “We are delighted to be partnering with State Street as they launch ETFs tracking our pioneering New Economy indices. Not only is State Street one of the dominant providers of ETFs in the world today and a name synonymous with sector investing, they are also an organisation committed to innovation and bringing differentiated products to market, making them a great strategic fit for Kensho.”