State Street Global Advisors, the investment management arm of State Street Corporation, has launched the SPDR KBW Mortgage Finance ETF.
According to State Street Global Advisors, the SPDR KBW Mortgage Finance ETF is the first exchange traded fund (ETF) to provide US investors with precise access to equities in the mortgage finance industry.
The SPDR KBW Mortgage Finance ETF seeks to track the total return performance of the KBW Mortgage Finance Index, a modified market-capitalization weighted index of the stocks listed on US stock markets comprising of pure mortgage players, mortgage processors, title insurers, homebuilders, and banks and thrifts where mortgage loans dominate the loan book.
The SPDR KBW Mortgage Finance Index has been created and is maintained by Keefe, Bruyette & Woods, a full-service investment bank.
Anthony Rochte, senior managing director at State Street Global Advisors, said: As the first ETF to invest in the mortgage finance industry, the SPDR KBW Mortgage Finance ETF provides investors with an opportunity to gain diversified, cost-effective exposure to the real estate finance industry. The introduction of KME strengthens our suite of SPDR KBW ETFs, which are designed to help investors express a tactical view on industries within the financial services sector.
