HREX and HDWX Provide Ability to Manage the Currency Risk of
International Income Producing Asset Classes
State Street Global Advisors (SSGA), the asset management
business of State Street Corporation (NYSE:STT), today announced
the SPDR MSCI International Real Estate Currency Hedged ETF (HREX)
and the SPDR S&P International Dividend Currency Hedged ETF
(HDWX) began trading on the NYSE Arca. HREX and HDWX join SSGA’s
first currency hedged ETF - the SPDR EURO STOXX 50 Currency Hedged
ETF (HFEZ) - which launched in June 2015.
“Recent flow trends have highlighted continued investor interest
in currency hedged ETFs to help manage currency volatility,” said
James Ross, executive vice president and global head of SPDR
Exchange Traded Funds at State Street Global Advisors. “The search
for yield continues to be a pressing need for investors and the
addition of HREX and HDWX provides our clients with the ability to
better manage currency risk when seeking attractive
income-producing opportunities outside of the US.”
The SPDR MSCI International Real Estate Currency Hedged ETF
seeks to track the performance of the MSCI World ex USA IMI Core
Real Estate Capped 100% Hedged to USD Index. This index is designed
to reflect the performance of stocks in the MSCI World ex USA IMI
Index that are engaged in the ownership, development and management
of specific core real estate property types while minimizing
exposure to fluctuations in foreign currencies. The SPDR MSCI
International Real Estate Currency Hedged ETF’s gross expense ratio
is 0.48 percent.
The SPDR S&P International Dividend Currency Hedged ETF
seeks to track the performance of the S&P International
Dividend Opportunities USD Hedged Index. This index is designed to
represent the performance of the 100 highest dividend-yielding
common stocks and ADRs listed in primary exchanges of countries
included in the S&P Global BMI ex US (Broad Market Index) while
minimizing exposure to fluctuations in foreign currencies. The SPDR
S&P International Dividend Currency Hedged ETF has a net
expense ratio to the investors of 0.48 percent. As a result of the
acquired fund fees from holding the SPDR S&P International
Dividend ETF (DWX), the gross expense ratio is 0.93 percent.
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 Bank and Trust Company. 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 financial professionals and those who rely on
them achieve their investment objectives. We partner with
institutions and financial professionals to help them reach their
goals through a rigorous, research-driven process spanning both
active and index disciplines. We take pride in working closely with
our clients to develop precise investment strategies, including our
pioneering family of SPDR ETFs. With trillions* in assets under
management, our scale and global footprint provide unrivaled access
to markets and asset classes, and allow us to deliver expert
insights and investment solutions.
State Street Global Advisors is the investment management arm of
State Street Corporation.
*Assets under management were $2.4 trillion as of June 30, 2015.
Assets under management include approximately $26.7 billion (as of
June 30, 2015), for which State Street Global Markets, LLC, an
affiliate of SSgA, serves as the distribution 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.
Currency Hedging involves taking offsetting positions intended
to substantially offset currency losses on the hedged instrument.
If the hedging position behaves differently than expected, the
volatility of the strategy as a whole may increase and even exceed
the volatility of the asset being hedged. There can be no assurance
that the Fund's hedging strategies will be effective.
Derivative investments may involve risks such as potential
illiquidity of the markets and additional risk of loss of
principal.
Foreign (non-U.S.) Securities may be subject to greater
political, economic, environmental, credit and information risks.
Foreign securities may be subject to higher volatility than U.S.
securities, due to varying degrees of regulation and limited
liquidity. These risks are magnified in emerging markets.
Non-diversified funds invest a greater portion of assets in
fewer securities and therefore may be more vulnerable to adverse
changes in the market.
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.
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.
Equity securities are volatile and can decline significantly in
response to broad market and economic conditions.
Real Estate Investment Trusts (REITS) investing may be subject
to risks including, but not limited to, declines in the value of
real estate, risks related to general economic conditions, changes
in the value of the underlying property owned by the trust and
defaults by borrowers.
Investing involves risk including the risk of loss of
principal.
Before investing, consider the fund's 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-1582
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150915006685/en/
State Street CorporationAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.comorTroy Mayclim, +1
914-686-5552tmayclim@riverinc.com
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2024 to Jul 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jul 2023 to Jul 2024