SPDR KBW Mortgage Finance ETF ($36.41 0%), began trading Thursday making the platform the first exchange-traded fund (ETF) to target mortgage-related equities.

"As the first ETF to invest in the mortgage finance industry, the SPDR KBW Mortgage Finance ETF provides investors with an unmatched opportunity to gain diversified, cost-effective exposure to the real estate finance industry," said Anthony Rochte, senior managing director at State Street Global Advisors. The investment management arm of State Street ($40.81 0.15%), State Street Global Advisors provides the SPDR suite of ETFs with more than $129.5bn assets under management.

KBW Mortgage Finance tracks a Keefe, Bruyette & Woods-maintained index of 24 mortgage finance companies and provides US investors with access equities in the mortgage finance industry. The ETF traded at $39.64, down 1.8% in mid-morning trading as this story went to press.

Write to Diana Golobay at diana.golobay@housingwire.com.

Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments.