State Street Global Advisors (SSGA), the asset management
business of State Street Corporation (NYSE: STT), today announced
changes to the name and index for its SPDR Russell Small Cap
Completeness® ETF (RSCO) (the “Fund”). Effective August 31, 2016,
the Fund will be renamed the SPDR S&P® 1000 ETF (SMD) and begin
tracking the S&P 1000 Index. The Fund’s annual gross expense
ratio (0.10 percent) remains unchanged and no action is required by
shareholders to effect these changes.
“We continually review our ETF offerings to identify new or
improved ways to access the market in order to provide the best
solutions to our clients,” said Nick Good, co-head of the Global
SPDR business at State Street Global Advisors. “We are excited to
offer exposure to domestic small and mid-caps that fits well with
our other existing ETFs that track S&P indices in order to
provide broader coverage of the US market including large caps, mid
caps, small caps, sectors and industries.”
The S&P 1000® Index (the “Index”) combines the S&P
MidCap 400® and the S&P SmallCap 600® to form a benchmark for
the mid- to small-cap segment of the US equity market. The Index
generally comprises companies with unadjusted company market
capitalization of $400 million to $5.9 billion at the time of
inclusion in the Index that satisfy the Index eligibility
criteria.
In addition, State Street Global Advisors has announced a name
change to SPYX from SPDR S&P® 500 Fossil Fuel Free ETF to SPDR
S&P Fossil Fuel Reserves Free ETF; and a change in expense
ratio (gross & net) to TWOK (SPDR Russell 2000® ETF) from 0.12
percent to 0.10 percent as of August 31, 2016.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of
international and domestic asset classes. SPDR ETFs are managed by
SSGA Funds Management, Inc., a registered investment adviser and
wholly owned subsidiary of State Street Corporation. The funds
provide investors with the flexibility to select investments that
are precisely aligned to their investment strategy. Recognized as
an industry pioneer, State Street created the first US listed ETF
in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the
forefront of responsible innovation, as evidenced by the
introduction of many ground-breaking products, including
first-to-market launches with gold, international real estate,
international fixed income, and sector ETFs. For more information,
visit www.spdrs.com.
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been
committed to helping our clients, and those who rely on them,
achieve financial security. We partner with many of the world’s
largest, most sophisticated investors and financial intermediaries
to help them reach their goals through a rigorous, research-driven
investment process spanning both indexing and active disciplines.
With trillions* in assets, our scale and global reach offer clients
access to markets, geographies and asset classes, and allow us to
deliver thoughtful insights and innovative solutions.
State Street Global Advisors is the investment management arm of
State Street Corporation.
*Assets under management were $2.3 trillion as of June 30,
2016. AUM reflects approx. $40 billion (as of 6/30/2016) with
respect to which State Street Global Markets, LLC (SSGM) serves as
marketing agent; SSGM and State Street Global Advisors are
affiliated.
IMPORTANT RISK INFORMATION:
Investing involves risk including the risk of loss of
principal.
Information represented in this piece does not constitute legal,
tax, or investment advice.
Investors should consult their legal, tax, and financial
advisors before making any financial decisions.
ETFs trade like stocks, are subject to investment risk,
fluctuate in market value and may trade at prices above or below
the ETFs net asset value. Brokerage commissions and ETF expenses
will reduce returns.
Investments in small-sized companies may involve greater
risks than in those of larger, better known companies.
Investments in mid-sized companies may involve greater
risks than in those of larger, better known companies, but may be
less volatile than investments in smaller companies.
Non-diversified funds that focus on a relatively small
number of securities tend to be more volatile than diversified
funds and the market as a whole.
Passively managed funds hold a range of securities that,
in the aggregate, approximates the full Index in terms of key risk
factors and other characteristics. This may cause the fund to
experience tracking errors relative to performance of the
index.
While the shares of ETFs are tradable on secondary markets, they
may not readily trade in all market conditions and may trade at
significant discounts in periods of market stress.
No fossil fuel reserve ownership may have an adverse
effect on a company’s profitability and, in turn, the returns of
the fund.
Concentrated investments in a particular industry or
sector may be more vulnerable to adverse changes in that industry
or sector.
Standard & Poor’s, S&P and SPDR are registered
trademarks of Standard & Poor’s Financial Services LLC
(S&P); Dow Jones is a registered trademark of Dow Jones
Trademark Holdings LLC (Dow Jones); and these trademarks have been
licensed for use by S&P Dow Jones Indices LLC (SPDJI) and
sublicensed for certain purposes by State Street Corporation. State
Street Corporation’s financial products are not sponsored,
endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their
respective affiliates and third party licensors and none of such
parties make any representation regarding the advisability of
investing in such product(s) nor do they have any liability in
relation thereto, including for any errors, omissions, or
interruptions of any index.
Distributor: State Street Global Markets, LLC, member
FINRA, SIPC, a wholly owned subsidiary of State Street Corporation.
References to State Street may include State Street Corporation and
its affiliates. Certain State Street affiliates provide services
and receive fees from the SPDR ETFs.
Before investing, consider the funds’ investment objectives,
risks, charges and expenses. To obtain a prospectus or summary
prospectus which contains this and other information, call
1-866-787-2257 or visit www.spdrs.com.
Read it carefully.
CORP-2157
© 2016 State Street Corporation - All Rights Reserved
State Street Corporation, One Lincoln Street, Boston, MA
02111-2900
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State Street CorporationAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.com
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