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About SPDR S&P Software & Services ETF

XSW delivers a portfolio that targets the software and services segment of the US equity market. The software industry is extremely top-heavy and concentrated so ETFs providing exposure to the industry have to address these challenges. XSW does so by broadening its mandate to include services firms and equal-weighting its portfolio to reduce concentration in the top industry companies. Ultimately, the fund delivers on its mandate to invest in both software and services and emphasizes the latter. Its equal-weighting scheme produces tilts toward smaller, growth-oriented companies. The index is rebalanced quarterly.