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State Street has submitted a filing to attach a mutual fund share class to its S&P 500 ETF, designated as SPYM.
The move is part of a continued trend, with filings for ETF share classes on mutual funds as well as mutual fund share classes on ETFs increasing recently, according to James Seyffart.
Dimensional recently created the first ETF share class of an actively managed mutual fund, with further similar launches anticipated, according to James Seyffart’s previous coverage. Growth in ETF share classes has become a focal point for both asset managers and market analysts. Seyffart has also documented shifts in investor sentiment across other asset classes.