State Street Global Advisors in late October launched two S&P 1500 ETFs with value and momentum factor tilts.
The SPDR S&P 1500 Value Tilt ETF (NYSE Arca: VLU) tracks the S&P 1500 Low Valuation Tilt Index, which is an alternatively weighted version of the S&P 1500 Index that overweights stocks with relatively low valuations. Stocks that are relatively expensive are underweighted.
The SPDR S&P 1500 Momentum Tilt ETF (NYSE Arca: MMTM) tracks the S&P 1500 Positive Momentum Tilt Index, which overweights those stocks with the highest momentum in the S&P 1500 and underweights those with low momentum.
Both new ETFs come with an annual expense ratio of 0.35 percent.