3 New State Street ETFs

Last week State Street Global Advisors introduced three exchange-traded funds (ETF) tracking three important sectors: biotechnology, homebuilder and semiconductor. Here are those listed with their respective rivals:

The SPDR Biotech (XBI) will have to compete with Biotech HOLDRS (BBH), iShares Nasdaq Biotech (IBB) and PowerShares Dynamic Biotech & Genome Portfolio (PBE).

The new SPDR Semiconductor (XSD) will face competition from already existing Semiconductor HOLDRS (SMH), iShares Goldman Sachs Semiconductor (IGW), PowerShares Dynamic Semiconductors Portfolio (PSI) .

In the red-hot homebuilder sector, State Street's SPDR Homebuilders (XHB) will have to compete with PowerShares Dynamic Building & Construction Portfolio (PKB) which was launched in October. Additionally, Barclays has filed to create its own ETF designed to follow the home-construction sector.

All these funds have a very low expense ratio of 0.35%.