Dow Jones Indexes’ the Global Dow to become underlying index for State Street Global Advisors’ Spdr® Global Dow ETF


Stocks of 150 of the World’s Leading Companies Comprise The Global Dow….

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Dow Jones Indexes, a leading global index provider, announced The Global Dow, which measures the stock performance of 150 of the world’s leading companies, will become the underlying index for State Street Global Advisors’ SPDR® Global Dow ETF, effective May 2, 2011.
The equally weighted 150 stocks in The Global Dow are selected by an Averages Committee comprised of the Managing Editor of The Wall Street Journal, the head of Dow Jones Indexes research and the head of CME Group research – the same selection process used by the Dow Jones Industrial Average. (In 2010, CME Group acquired 90% of Dow Jones Indexes from Dow Jones & Co., a division of News Corp., and publisher of The Wall Street Journal.) “The Global Dow tracks leading companies from around the world,” said Michael A. Petronella,  President, Dow Jones Indexes. “By covering both the developed and emerging economies of the world, The Global Dow truly reflects, as closely as possible, the global stock market as it exists today.”
James Ross, Senior Managing Director and Global Head of SPDR Exchange Traded Funds at State Street Global Advisors, said: “We’re pleased to provide investors with access to The Global Dow, an innovative benchmark often viewed as a global extension of the Dow Jones Industrial Average.”
Components of The Global Dow are reviewed on an as-needed basis, with changes rare; revisions to the index typically occur following corporate acquisitions or other significant changes in a component company’s core business. The index is rebalanced annually in September.
The Global Dow has gained 8.04%, year-to-date (April 29, 2011); 12.25% over the past one year, and 8.20% (annualized) since its inception date of November 9, 2008. The Global Dow has back-tested data available back to December 31, 2000.
As of April 29, 2011, the index’s largest three components by float-adjusted market capitalization are: Exxon Mobil Corp., Apple Inc., and Chevron Corp. The Global Dow replaces Dow Jones Indexes’ Dow Jones Global Titans 50 Index as the underlying index for the State Street Global Advisors’ product previously known as SPDR Global Titans ETF. The Dow Jones Global Titans 50 Index is comprised of 50 of the world’s largest publicly traded multinational companies, selected using float-adjusted market capitalization, revenue and net income.

Source: ETFWorld –    Dow Jones Indexes