State Street Global Advisors,
the asset management business of State Street Corporation (NYSE:
STT), today announced a change to the benchmark and name of SPDR®
Nuveen S&P High Yield Municipal Bond ETF (Symbol: HYMB). The
fund’s ticker symbol and annual expense ratio remain unchanged and
no action is required by shareholders.
The index and name change
detailed below is effective as of October 1, 2019.
Ticker
Current Fund Name
New Fund Name
Current Benchmark
New Benchmark
HYMB
SPDR®
Nuveen S&P High Yield Municipal Bond ETF
SPDR®
Nuveen Bloomberg Barclays High Yield Municipal Bond ETF
S&P®
Municipal Yield Index
Bloomberg Barclays Municipal Yield
Index
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 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 $2.90 trillion*
under our care.
* This figure is presented as of June 30, 2019 and includes
approximately $36 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.
Important Risk Information:
Investing involves risk including the risk of loss of
principal.
The whole or any part of this work may not be reproduced, copied
or transmitted or any of its contents disclosed to third parties
without SSGA's express written consent.
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.
Lower-quality debt securities involve greater risk of
default or price changes due to potential changes in the credit
quality of the issuer. Bond funds contain interest rate risk
(as interest rates rise bond prices usually fall); the risk of
issuer default; issuer credit risk; liquidity risk; and inflation
risk. 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. High-yield municipal bonds
are subject to greater credit risk and are likely to be more
sensitive to adverse economic changes or subject to greater risk of
loss of income and principal than higher-rated securities.
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.
The information provided does not constitute investment advice
and it should not be relied on as such. It should not be considered
a solicitation to buy or an offer to sell a security. It does not
take into account any investor's particular investment objectives,
strategies, tax status or investment horizon. You should consult
your tax and financial advisor. All material has been obtained from
sources believed to be reliable. There is no representation or
warranty as to the accuracy of the information and State Street
shall have no liability for decisions based on such
information.
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
© 2019 State Street Corporation - All Rights Reserved
State Street Global Advisors, One Iron Street, Boston, MA
02110
2728975.1.1.AM.RTL
Expiration Date: 9/30/2020
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version on businesswire.com: https://www.businesswire.com/news/home/20190926005865/en/
Olivia Offner +1 617.662.0198 ooffner@statestreet.com
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