State Street launches SPYX to track performance of S&P 500 Fossil Fuel Free Index

By Lisa Kerner

Charlotte, N.C., Dec. 2 – State Street Global Advisors announced that the SPDR S&P 500 Fossil Fuel Free ETF (SPYX) began trading on the NYSE Arca.

It is a new addition to State Street Global’s ESG line-up, according to a news release.

“Motivated by concerns surrounding climate change, a growing number of our clients are seeking solutions that can help them divest from fossil fuel reserves while maintaining their strategic asset allocations,” said James Ross, executive vice president and global head of SPDR Exchange Traded Funds at State Street Global.

“With the launch of SPYX, investors may be able to divest their U.S. large cap allocations from fossil fuel reserves while benefitting from the liquidity, transparency and convenience of an ETF,” Ross said.

The SPDR S&P 500 Fossil Fuel Free ETF (SPYX), developed with the support of the Natural Resources Defense Council, seeks to track the performance of the S&P 500 Fossil Fuel Free Index. The index measures the performance of companies in the S&P 500 Index that do not own fossil fuel reserves. It included 475 securities as of Sept. 30.

State Street Global Advisors is the asset management business of State Street Corp., a Boston-based financial services provider.

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