FYI: One year ago, State Street Global Advisors rolled out the SPDR Portfolio ETFs, entering the low-cost passive ETF segment with a bang.
These 15 ETFs consisted of existing funds that were rebranded and repackaged with ultra-cheap expense ratios and lower share prices. Together they commanded under $12 billion in total assets prior to the change. A year later, State Street’s move seems to be paying off.
The No. 3 ETF issuer, with $608 billion in ETF assets, has watched its market share grow thanks to healthy investor demand for low-cost portfolio core strategies. The Portfolio SPDRs have seen $20 billion in net creations thus far. Together, they now boast nearly $32 billion in total assets—almost 3x their combined assets just a year ago.
Regards,
Ted
https://www.etf.com/sections/features-and-news/state-street-battling-low-cost-etf-ground
