Rebalances for some of State Street Corp.’s biggest ETFs are being delayed until summer amid coronavirus-fueled market turmoil.
The $256 billion SPDR S&P 500 ETF Trust, or SPY, is among almost 60 products tracking S&P Dow Jones indexes that are impacted, according to an April 8 letter sent to specialist traders known as authorized participants and seen by Bloomberg News. The document cited “extreme global market volatility” and follows a decision by the index provider to postpone a quarterly rebalancing that was scheduled for last month.
