State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced changes to
the target benchmarks of the SPDR® Portfolio Short Term Treasury
ETF (Symbol: SPTS) and SPDR Bloomberg Barclays Intermediate Term
Treasury ETF (ITE). The funds’ names, ticker symbols and annual
expense ratios remain unchanged and no action is required by
shareholders.
The index changes detailed below are effective April 30,
2018.
Ticker Fund Name
Current Benchmark New Benchmark SPTS
SPDR Portfolio Short Term Treasury ETF
Bloomberg Barclays 1-5 Year U.S. Treasury Index
Bloomberg Barclays 1-3 Year U.S. Treasury Index ITE
SPDR Bloomberg Barclays Intermediate Term Treasury ETF
Bloomberg Barclays Intermediate U.S. Treasury Index
Bloomberg Barclays 3-10 Year U.S. Treasury Index
“With these changes, our suite of Treasury bond SPDR ETFs will
offer more precise exposure to various segments of the US Treasury
market,” said Noel Archard, global head of product for State Street
Global Advisors’ SPDR ETF business. “Advisors, institutions and
individual investors will be able to add short-term Treasury
exposure to their portfolios with SPTS, intermediate exposure with
ITE and long-term exposure with the SPDR Portfolio Long Term
Treasury ETF (SPTL), which tracks the performance of US Treasuries
that have a remaining maturity of 10 years or more, to more
precisely manage duration along the yield curve.”
State Street Global Advisors is one of the largest fixed income
ETF providers in the world with more than $56 billion assets under
management.
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 four decades, State Street Global Advisors has served the
world’s governments, institutions and financial advisors. With a
rigorous, risk-aware approach built on research, analysis and
market-tested experience, we build from a breadth of active and
index strategies to create cost-effective solutions. As stewards,
we help portfolio companies see that what is fair for people and
sustainable for the planet can deliver long-term performance. And,
as pioneers in index, ETF, and ESG investing, we are always
inventing new ways to invest. As a result, we have become the
world’s third largest asset manager with nearly US $2.73 trillion*
under our care.
*AUM reflects approx. US$36B (as of March 31, 2018) with respect
to which State Street Global Advisors Funds Distributors, LLC
serves as marketing agent; SSGA FD, LLC and State Street Global
Advisors are affiliated.
2100452.1.1.NA.RTL
Bonds generally present less short-term risk and
volatility than stocks, but contain interest rate risk (as interest
rates rise, bond prices usually fall); issuer default risk; issuer
credit risk; liquidity risk; and inflation risk. These effects are
usually pronounced for longer-term securities. Any fixed income
security sold or redeemed prior to maturity may be subject to a
substantial gain or loss.
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.
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.
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.BLOOMBERG®, a trademark and service mark
of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a
trademark and service mark of Barclays Bank Plc, have each been
licensed for use in connection with the listing and trading of the
SPDR Bloomberg Barclays ETFs.
Distributor: State Street Global Advisors Funds
Distributors, LLC, member FINRA, SIPC, an indirect 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.Not FDIC Insured • No Bank Guarantee • May Lose
Value
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version on businesswire.com: https://www.businesswire.com/news/home/20180427005966/en/
State Street CorporationAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.com
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