The new fund provides investors with access to companies poised to benefit from the growth of emerging Asia’s middle class, the firm said. Its annual expense ratio is 0.65%
The SPDR S&P Small Cap Emerging Asia Pacific ETF seeks to track the performance of the S&P Asia Pacific Emerging Under $2 Billion Index. The Index is a float-adjusted market capitalization weighted benchmark that includes publicly listed companies with a total market capitalization between $100 million and $2 billion. Each individual stock is capped at a maximum of 25% of the index weight, and the top five stocks are capped at a maximum of 50% of the index weight.
The countries historically covered in the Index are China, India, Indonesia, Malaysia, Philippines, Taiwan and Thailand. As of December 31, 2011, the Index was comprised of 1,455 securities.