State Street Global Advisors rolled out its own ultracheap Russell 2000 ETF and relaunched three other existing ETFs in July, refitting them with Russell indexes and new tickers while dropping their Dow Jones indexes.
The SPDR Russell 2000 ETF (NYSE Arca: TWOK) takes on iShares’ blockbuster IWM, with its main weapon being an annual expense ratio of just 0.12 percent, about half that of IWM.
The three other funds that have been “relaunched” each come with greatly reduced expense ratios of just 10 basis points. They include the following:
- SPDR Russell 3000 ETF (NYSE Arca: THRK), previously the SPDR Dow Jones Total Market ETF (NYSE Arca: TMW)
- SPDR Russell 1000 ETF (NYSE Arca: ONEK), previously the SPDR Dow Jones Large Cap ETF (NYSE Arca: ELR)
- SPDR Russell Small Cap Completeness ETF (NYSE Arca: RSCO), previously the SPDR Dow Jones Mid Cap ETF (NYSE Arca: EMM)