SSgA Announces New Benchmarks for Five SPDR ETFs

State Street Global Advisors (SSgA) announced changes to the indices and names of five financial industry SPDR exchange-traded funds (ETFs). 

Effective October 24, 2011, the five SPDR ETFs will seek to track S&P Select Industry Indices that provide access to the same market segments as funds’ current index and offer broader diversification and reduced concentration risk.
 The changes will affect the following ETFs:

Current ETF Name 

Current Index Name 

New ETF Name 

New Index Name 


KBW Bank Index




S&P Banks Select Industry Index


SPDR KBW Capital Markets ETF (KCE)


KBW Capital Markets Index


SPDR S&P Capital Markets ETF (KCE)


S&P Capital Markets Select Industry Index


SPDR KBW Insurance ETF (KIE)


KBW Insurance Index


SPDR S&P Insurance ETF (KIE)


S&P Insurance Select Industry Index


SPDR KBW Mortgage Finance ETF (KME)


KBW Mortgage Finance Index


SPDR S&P Mortgage Finance ETF (KME)


S&P Mortgage Finance Select Industry Index


SPDR KBW Regional Banking ETF (KRE)


KBW Regional Banking Index


SPDR S&P Regional Banking ETF (KRE)


S&P Regional Banks Select Industry Index


The funds’ ticker symbols and expense ratios will not change.

“As a leading manager of industry and sector ETFs, we are constantly reviewing the SPDR ETF offering to improve access to a wide range of asset classes,” said James Ross, Senior Managing Director and Global Head of SPDR Exchange-Traded Funds. “In addition to unifying our industry SPDR ETFs around a single index provider, the new S&P indices offer investors greater diversification and a rules-based methodology that enhances transparency.”