SPDR® FactSet Innovative Technology ETF Provides Exposure to
Fastest Growing Companies in the Technology Sector and Electronic
Media Sub-Sector
State Street Global Advisors (SSGA), the asset management
business of State Street Corporation (NYSE:STT), today announced
that the SPDR FactSet Innovative Technology ETF (XITK) began
trading on the NYSE Arca. XITK offers investors a unique
opportunity to access the technology sector and electronic media
sub-sector by seeking to provide exposure to companies with high
revenue growth, including companies involved in cutting edge
research, innovative product and service development, disruptive
business models or a combination of these.
"In today’s low growth environment, investors have expressed a
desire to access companies with the greatest potential to create
change. XITK provides exposure to technology-related companies with
high revenue growth, including those with disruptive business
models,” said Nick Good, chief operating officer of the US
intermediary business at State Street Global Advisors. “This means
investing beyond the stalwarts of the tech space and capturing
newer firms that are innovating and changing the landscape.”
“This FactSet index leverages our patented U.S. sector
classification system to uniquely identify technology-related
companies in new, rapidly evolving areas, such as mobile devices,
cyber security and cloud computing,” explained Jeremy Zhou, FactSet
Indexes Senior Product Manager. “Partnering with SSGA to track such
potentially disruptive companies through a transparent, rule-based
methodology may offer an exciting new way to target emerging
industries with a stronger overall growth profile.”
The SPDR FactSet Innovative Technology ETF seeks to track the
FactSet Innovative Technology Index, which is designed to represent
the performance of US-listed stocks and American Depository
Receipts (ADRs) of technology-related companies with high revenue
growth. The Index is designed to tracking companies within the
highest growth segments of the technology sector and the electronic
media sub-sector of the media sector.
The Index is equal-weighted to ensure that each of its component
securities is represented in approximate equal dollar value at each
rebalancing and reconstitution, which may reduce stock specific
risk.
The SPDR FactSet Innovative Technology ETF’s gross expense ratio
is 0.45 percent. For more information on XITK, visit
www.spdrs.com.
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 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 $2.2 trillion as of September
30, 2015. Assets under management include approximately $25 billion
as of September 30, 2015, for which State Street Global Markets,
LLC, an affiliate of SSGA, serves as the distribution
agent.
About FactSet
FactSet is a leading provider of integrated financial
information and analytical applications. More than 63,000 users
stay ahead of global market trends, access extensive company and
industry intelligence, and monitor performance with FactSet’s
desktop analytics, mobile applications, and comprehensive data
feeds. The Company has been included in FORTUNE's Top 100 Best
Companies to Work For, the United Kingdom’s Great Places to Work
and France’s Best Workplaces. FactSet is listed on the New
York Stock Exchange and NASDAQ (NYSE:FDS) (NASDAQ:FDS). Learn
more at www.factset.com, and follow us on
Twitter: www.twitter.com/factset.
Concentrated investments in a particular sector or
industry (technology sector and electronic media companies) tend to
be more volatile than the overall market and increases risk that
events negatively affecting such sectors or industries could reduce
returns, potentially causing the value of the Fund’s shares to
decrease.
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.
Equity securities may fluctuate in value in response to
the activities of individual companies and general market and
economic conditions. Growth stocks may underperform stocks in other
broad style categories (and the stock market as a whole) over any
period of time and may shift in and out of favor with investors
generally, sometimes rapidly.
Non-diversified funds that focus on a relatively small
number of issuers 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.
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, 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 fund’s investment objectives,
risks, charges and expenses, which are described in the fund’s
prospectus. To obtain a prospectus or summary prospectus which
contains information regarding these risks and other information,
call 866.787.2257 or visit spdrs.com. Read it
carefully.
Not FDIC Insured * No Bank Guarantee * May Lose Value
CORP-1756
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version on businesswire.com: http://www.businesswire.com/news/home/20160114005672/en/
For State StreetAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.comorTroy Mayclim, +1
914-686-5552tmayclim@riverinc.com
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