State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced a change to
the benchmark of the SPDR Nuveen Bloomberg Barclays Municipal Bond
ETF (Symbol: TFI). The fund’s name, ticker symbol and annual
expense ratio remain unchanged and no action is required by
shareholders.
The index change detailed below is effective as of January 2,
2019.
Ticker Fund Name
Current Benchmark New
Benchmark TFI SPDR Nuveen Bloomberg
Barclays Municipal Bond ETF Bloomberg Barclays
Municipal Managed Money Index Bloomberg
Barclays Municipal Managed Money 1-25 Years Index
“Adding a 25-year maturity cap to the existing index
methodology tailors the exposure for more precise access to
intermediate-term segment of the muni market,” said Matthew
Bartolini, Head of SPDR Americas Research. “The duration profile
will now be more in line with what clients consider intermediate,
all the while still retaining the broad access to the muni-market
clients have enjoyed, acting as a core muni position and
complementing the other options in our suite, the SPDR Nuveen
Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and
the SPDR Nuveen S&P High Yield Municipal Bond ETF
(HYMB).”
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 $2.81 trillion*
under our care.
* This figure is presented as of September 30, 2018 and includes
approximately $28 billion of assets with respect to SPDR products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
Investing involves risk including the risk of loss of
principal.
Important Risk Information
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 municipal market is volatile and can be significantly
affected by adverse tax, legislative or political changes and the
financial condition of the issuers of municipal securities.
Interest rate increases can cause the price of a debt security to
decrease. A portion of the dividends you receive may be subject to
federal, state, or local income tax or may be subject to the
federal alternative minimum tax.
Income exempt from federal income tax may be subject to state or
local tax and the Federal Alternative Minimum Tax (AMT).
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.
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 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. ALPS Distributors, Inc., member FINRA, is distributor
for SPDR® S&P® 500, SPDR® S&P® MidCap 400 and SPDR® Dow
Jones Industrial Average, all unit investment trusts. ALPS
Portfolio Solutions Distributor, Inc., member FINRA, is distributor
for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio
Solutions Distributor, Inc. are not affiliated with State Street
Global Advisors Funds Distributors, LLC.
State Street Global Advisors Funds Distributors, LLC is the
distributor for some registered products on behalf of the advisor.
SSGA Funds Management, Inc. has retained Nuveen Asset Management as
the sub-advisor. State Street Global Advisors Funds Distributors,
LLC is not affiliated with Nuveen Asset Management.
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.
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.
State Street Global Advisors, One Iron Street, Boston, MA
02110
© 2018 State Street Corporation - All Rights ReservedNot FDIC
Insured – No Bank Guarantee – May Lose
Value2347993.1.1.AM.RTL
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181228005003/en/
State Street CorporationReilly Starr+ 212 258
1614RStarr@StateStreet.com
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024