SPDR® SSGA Gender Diversity ETF (Ticker: SHE) Invests in
Index of Companies with Higher Levels of Gender Diversity in Senior
Leadership and Offers Core US Large Cap Exposure
State Street Global Advisors (SSGA), the asset management
business of State Street Corporation (NYSE: STT), announced that
the SPDR® SSGA Gender Diversity Index ETF (Ticker: SHE) will begin
trading tomorrow on the NYSE Arca. SHE seeks to track the
performance of the SSGA Gender Diversity Index, which comprises
listed US large capitalization companies with the highest levels
within their sectors of gender diversity on their boards of
directors and in their senior leadership.
“SHE seeks to help address gender inequality in corporate
America by offering investors an opportunity to create change with
capital and seek a return on gender diversity,” said Kristi
Mitchem, executive vice president and head of the Americas
Institutional Client Group for SSGA. “This fund empowers investors
to encourage more gender diverse leadership and support better
long-term social and economic outcomes in support of gender
diversity.”
According to a 2015 MSCI1 study that explored global trends in
gender diversity on corporate boards between December 2009 and
August 2015, companies with at least three female board members
outperformed others in overall return on equity by more than 36
percent.2 Despite these findings, American women account for an
average of just 16 percent of the members of executive teams.3
SSGA was inspired to develop the Index by the California State
Teachers’ Retirement System’s (CalSTRS) efforts to move the needle
on gender diversity in corporate America, especially for women in
leadership positions.
To help strengthen third-party charitable organizations
committed to enhancing gender diversity, SSGA will direct a portion
of its revenue to nonprofit organizations that help develop girls
as leaders in business and science.
“Closing the gender gap requires strengthening gender diversity
and inclusion practices across corporate America,” said Alison
Quirk, chief global human resources and corporate citizenship
officer at State Street. “We believe that the root causes of biases
that influence women being underrepresented at the most senior
levels of executive and board leadership develop at an early age.
We want to empower girls to take their place in business
leadership, especially in science, technology, engineering and math
(STEM) industries that will be in high demand for the next 10 to 20
years. By paying it forward through the charitable contribution, we
can build a better future.”
“SHE is designed to offer investors an opportunity to access the
potential benefits of gender diverse leadership and seek to drive
meaningful social change while maintaining core US large cap
exposure,” said James Ross, executive vice president and global
head of SPDR Exchange Traded Funds at SSGA. “As the first SPDR ETF
to use a proprietary SSGA Index, SHE highlights a path for future
innovative products that improve access to unique solutions for
investors.”
Select Characteristics of SPDR SSGA Gender Diversity Index
ETF (Ticker: SHE):
- SHE is comprised of approximately 144
stocks from the largest 1,000 listed companies in the US, based on
the presence of women at the CEO, board or senior leadership
levels, and seeks to minimize divergent sector weights versus the
1,000 largest listed US companies with the goal of isolating gender
diversity as the primary factor exposure.
- SHE is a US large cap core ETF that
features a diversified portfolio of 144 stocks across all US
sectors as of February 29, 2016.
- SHE’s expense ratio is 0.20%.
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 $2.24 trillion as of December
31, 2015. AUM reflects approx. $22.0 billion (as of December 31,
2015) with respect to which State Street Global Markets, LLC (SSGM)
serves as marketing agent; SSGM and State Street Global Advisors
are affiliated.
CalSTRS does not endorse any particular investment product or
service.
Important Risk Information:
Concentrated investments in a particular industry or
sector may be more vulnerable to adverse changes in that industry
or sector.
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.
Gender diversity risk: The returns on a portfolio of
securities that excludes companies that are not gender diverse may
trail the returns on a portfolio of securities that includes
companies that are not gender diverse.
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 error relative to performance of the index.
Diversification does not ensure a profit or guarantee
against loss.
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. 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.
Not FDIC Insured * No Bank Guarantee * May Lose Value
CORP-1824
1 The methodology used in MSCI’s study is different than that of
the Index, and as such, the results of the study should not be
viewed as indicative of the future performance of the Index or
SHE.
2 Return on equity is not representative of the performance of
any investment or the potential return of any ETF.
3 Lee, Linda-Eling, et al. Women on Boards: Global Trends in
Gender Diversity on Corporate Boards, MSCI, November 2015. Accessed
on February 17th, 2016 at:
https://www.msci.com/documents/10199/04b6f646-d638-4878-9c61-4eb91748a82b
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version on businesswire.com: http://www.businesswire.com/news/home/20160307005890/en/
State Street CorporationAnne Mcnally, +1
617-664-8576AEMcnally@StateStreet.com
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