The funds are designed to mirror the composition of S&P 500 sector indices without capping the weight of the largest constituent companies.

S tate Street Investment Management has launched four ETFs linked to market capitalisation -weighted S&P 500 sector indices, extending its range of sector-based investment products. According to the firm, the funds are intended for investors seeking sector exposure that more closely mirrors the composition of the underlying S&P 500 sector benchmarks .   The ETFs are the State Street S&P 500 Consumer Discretionary Market Sector SPDR ETF (XLYM), State Street S&P 500 Consumer