etf

State Street Launches ETFs Based on Fortune Indexes

etf

Yesterday, State Street Global Advisors (SSgA) launched two exchange-traded funds (ETFs) based on the FORTUNE 500 and FORTUNE e-50 Indexes. The two funds began trading yesterday on the American Stock Exchange (AMEX) under the ticker symbols FFF (500) and FEF (e-50). The new funds are part of the recently-released streetTRACKS Series Trust introduced by SSgA.

"FORTUNE is pleased to be working with two pioneers in the ETF marketplace - The American Stock Exchange and SSgA," said Jack Haire, President of the FORTUNE Group. "This groundbreaking agreement will give investors the opportunity to invest in financial products that track our indexes."

According to SSgA, its 13 ETFs currently have $35 billion in assets worldwide.

Top Ten Holdings of the FORTUNE 500 Index (as of 6/30/2000)

Company Name Percentage
General Electric Co.
4.64%
Intel Corp.
3.96%
Cisco Systems Inc.
3.91%
Microsoft Corp.
3.72%
Pfizer Inc.
2.67%
Exxon Mobil Corp
2.42%
Wal-Mart Stores
2.27%
Oracle Corp.
2.11%
Citigroup Inc.
1.80%
Intl. Business Machines Corp.
1.72%

 

Top Ten Holdings of the FORTUNE e-50 Index (as of 6/30/2000)

Company Name Percentage
Microsoft Corp.
9.26%
Intel Corp.
8.44%
Cisco Systems Inc.
7.95%
Oracle Corp.
7.91%
America Online Inc.
6.49%
JDS Uniphase Corp
5.18%
Yahoo Inc.
3.76%
Sun Microsystems Inc.
3.19%
Broadcom Corp.
3.03%
Worldcom Inc.
2.97%