Please replace the release dated July 9, 2013 with the following
corrected version due to updated information regarding fees and
expenses in the chart.
The corrected release reads:
NEW ETF BENCHMARK CHANGES FROM SSGA FEED INVESTOR APPETITE
FOR INCREASED ACCESS TO US EQUITY MARKET
Offers New Small Cap ETF and Benchmark Change for Three SPDR
ETFs
State Street Global Advisors (SSgA)*, the asset management arm
of State Street Corporation (NYSE:STT), today announced the
availability of the SPDR Russell 2000 ETF (Symbol: TWOK), which
began trading on NYSE Arca on July 09, 2013, and changes to the
indexes, names and tickers of three US equity SPDR ETFs effective
the same date. The three SPDR ETFs will seek to track Russell
Indexes that provide comprehensive coverage of each underlying
market segment. Russell captures 72 percent of the market share for
all US institutional equity products reporting a benchmark.
“Our ETF leadership drives our commitment to continually
reviewing the SPDR offering to ensure it provides our clients with
access to a broad range of asset classes and strategies,” said
James Ross, senior managing director and global head of SPDR
Exchange Traded Funds at SSgA. “The Russell indexes are strong US
equity benchmarks that are backed by a transparent, rules-based
methodology that is accurate and replicable.”
The SPDR Russell 2000 ETF seeks to track the performance of the
Russell 2000 Index, which measures the performance of the small-cap
segment of the US equity market. The Index is a subset of the
Russell 3000 Index that represents approximately 10 percent of its
total market capitalization (cap) and includes approximately 2000
of the smallest securities based on a combination of market cap and
current index membership. The Index is constructed to provide a
comprehensive and unbiased small cap barometer and is completely
reconstituted annually to ensure larger stocks do not distort the
performance and characteristics of the small cap opportunity
set.
New ETF and Index Changes Effective July 9, 2013
Former ETF Name Former Index
New ETF Name / Index
Management Fee
Acquired Fund Fees &
Expenses
Total Annual Fund Operating
Expenses
N/A N/A SPDR Russell 2000 ETF (TWOK) /
Russell 2000 Index 12 bps 6 bps
18 bps SPDR Dow Jones Total Market ETF (TMW)
Dow Jones US Total Stock Market Index SPDR Russell
3000 ETF (THRK) / Russell 3000 Index 10 bps
1 bps 11 bps SPDR Dow Jones Large Cap ETF(ELR)
Dow Jones US Large Cap Total Stock Market Index
SPDR Russell 1000 ETF (ONEK) / Russell 1000 Index
10 bps N/A 10 bps SPDR
Dow Jones Mid Cap ETF (EMM) Dow Jones US Mid Cap
Total Stock Market Index SPDR Russell Small Cap
Completeness ETF (RSCO) / Russell Small Cap Completeness Index
10 bps 6 bps 16 bps
SSgA manages more than $352 billion** in SPDR ETF assets
worldwide (as of March 31, 2013) and is one of the largest ETF
providers globally.
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). Since then, we’ve
sustained our place as an industry innovator through 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
State Street Global Advisors (SSgA) is a global leader in asset
management. The firm is relied on by sophisticated investors
worldwide for its disciplined investment process, powerful global
investment platform and access to every major asset class,
capitalization range and style. SSgA is the asset management
business of State Street Corporation, one of the world’s leading
providers of financial services to institutional investors.
*SPDR ETFs are managed by SSgA Funds Management, Inc., a
registered investment adviser and wholly owned subsidiary of State
Street Corporation.
**This AUM includes the assets of the SPDR Gold Trust (approx.
$62.7 billion as of March 31, 2013), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
In general, ETFs can be expected to move up or down in value
with the value of the applicable index. Although ETF shares may be
bought and sold on the exchange through any brokerage account, ETF
shares are not individually redeemable from the Fund. Investors may
acquire ETFs and tender them for redemption through the Fund in
Creation Unit Aggregations only. Please see the prospectus for more
details.
The Fund invests by sampling the Index, holding a range of
securities that, in the aggregate, approximates the full Index in
terms of key risk factors and other characteristics which may cause
the fund to experience tracking errors relative to performance of
the Index.
Risk associated with equity investing includes stock values
which may fluctuate in response to the activities of individual
companies and general market and economic conditions.
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.
Returns on investments in stocks of large U.S. companies could
trail the returns on investments in stocks of smaller and mid-sizes
companies.
Investments in mid-sized companies may involve greater risks
than those in larger, better known companies, but may be less
volatile than investments in smaller companies.
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.
"SPDR" is a registered trademark of Standard & Poor's
Financial Services LLC ("S&P") and has been licensed for use by
State Street Corporation. STANDARD & POOR'S, S&P, S&P
500 and S&P MIDCAP 400 are registered trademarks of Standard
& Poor's Financial Services LLC No financial product offered by
State Street Corporation or its affiliates is sponsored, endorsed,
sold or promoted by S&P or its affiliates, and S&P and its
affiliates make no representation, warranty or condition regarding
the advisability of buying, selling or holding units/shares in such
products. Further limitations and important information that could
affect investors' rights are described in the prospectus for the
applicable product.
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. ALPS Distributors, Inc., a
registered broker-dealer, is distributor for SPDRS&P500,
SPDRS&PMidCap 400 and SPDRDow Jones Industrial Average, all
unit investment trusts, and Select Sector SPDRs. ALPS Distributors,
Inc. is not affiliated with State Street Global Markets, LLC.
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, download a prospectus or summary prospectus now, or
talk to your financial advisor. Read it carefully before
investing.
CORP-0780
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