Changes Provide Investors with More Core Solutions Targeting
Flagship S&P® Dow Jones Indices
State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), and creators of the world’s
first ETFs, today announced index changes to four of its low-cost
SPDR ® Portfolio ETFs™, with a combined $11.3 billion 1 in
assets.
The index changes seek to respond to demand to provide a more
stratified ETF toolkit that targets segments of the US equity
market in a cost-effective way. For investors who prefer broad
market exposure, the newly positioned funds include the only ETF
currently available tracking the S&P Composite 1500® Index.
“‘Our goal is to offer products with purpose, providing a suite
of low-cost precision exposures in an ETF wrapper that can then be
deployed by investors as they build portfolios to deliver target
investment outcomes,” said Rory Tobin, Global Head of SPDR Business
at State Street Global Advisors. “There is strong investor demand
for S&P benchmarks with over $12.5 trillion in global assets
tracking their indices.2 SPDR is now the only ETF provider that
offers the full spectrum of low-cost S&P ETFs spanning the
S&P 500®, S&P MidCap 400®, S&P SmallCap 600® and
S&P Composite 1500® – as well as the S&P 500® Growth, Value
and Dividend style exposures.”
“Almost 27 years ago to the day, we launched SPY, the SPDR
S&P 500 ETF Trust, the innovation that sparked the ETF
investing revolution,” said Sue Thompson, Head of SPDR Americas
Distribution at State Street Global Advisors. “Today we continue
our history of democratizing investing with funds among the lowest
cost in the industry – including an ETF indexed to the S&P 500
with a total expense ratio of 3 basis points. Taken together, our
S&P products are designed to cater to both the ‘buy and hold’
investor as well as to those that value the flexibility of
industry-leading levels of liquidity. In short, whichever feature
investors value, we have a suite of S&P ETFs to suit their
potential needs.”
The index and name changes detailed below are effective as of
market open on January 24, 2020.
Ticker
Current Name
New Name
Current Benchmark
New Benchmark
Expense Ratio
SPLG
SPDR Portfolio Large Cap ETF
SPDR Portfolio S&P 500® ETF
SSGA Large Cap Index
S&P 500 Index™
0.03%
SPMD
SPDR Portfolio Mid Cap ETF
SPDR Portfolio S&P 400 Mid Cap ETF
S&P 1000® Index
S&P MidCap 400® Index™
0.05%
SPSM
SPDR Portfolio Small Cap ETF
SPDR Portfolio S&P 600 Small Cap
ETF
SSGA Small Cap Index
S&P SmallCap 600® IndexSM
0.05%
SPTM
SPDR Portfolio Total Stock Market ETF
SPDR Portfolio S&P 1500 Composite
Stock Market ETF
SSGA Total Stock Market Index
S&P Composite 1500® Index
0.03%
Launched in 2017, the SPDR Portfolio suite was designed to give
investors greater choice in low-cost ETFs. Comprising 22 SPDR ETFs
that provide low-cost access to a wide range of core equity and
fixed income asset classes, the suite of funds has been widely
embraced by investors who have added nearly $40 billion of assets
to the fund range in just over two years, bringing total assets in
the SPDR Portfolio suite to $57.7 billion to date.3 With these
changes, nine of 11 low-cost equity SPDR Portfolios ETFs are now
benchmarked to S&P indices, driving more consistency across the
suite in terms of methodologies and market coverage, simplifying
portfolio construction for investors. In addition to these changes,
a voluntary fee waiver of 0.10% will be implemented on the SPDR
S&P 600 Small Cap ETF (SLY) to lower the fund’s expense ratio
from 0.15% to 0.05% effective as of January 24, 2020.
For more information on State Street’s SPDR ETFs, please visit
https://www.ssga.com/us/en/individual/etfs.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of
international and domestic asset classes. SPDR ETFs are sponsored
by affiliates of State Street Global Advisors. 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 $3.12 trillion*
under our care.
* This figure is presented as of December 31, 2019 and includes
approximately $45 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.
Prior to 01/24/2020, the SPDR Portfolio S&P 1500 Composite
Stock Market ETF (SPTM) was known as the SPDR Portfolio Total Stock
Market ETF (SPTM), the SPDR Portfolio S&P 500 ETF (SPLG) was
known as the SPDR Portfolio Large Cap ETF (SPLG), the SPDR
Portfolio S&P 400 Mid Cap ETF (SPMD) was known as the SPDR
Portfolio Mid Cap ETF (SPMD), and the SPDR Portfolio S&P 600
Small Cap ETF (SPSM) was known as the SPDR Portfolio Small Cap ETF
(SPSM).
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.
Risk associated with equity investing includes stock values
which may fluctuate in response to the activities of individual
companies and general market and economic conditions.
Equity securities may fluctuate in value in response to the
activities of individual companies and general market and economic
conditions.
Passively managed funds invest by sampling the index, holding 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, 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.
Distributor: State Street Global Advisors Funds Distributors,
LLC, member FINRA, SIPC. ALPS Distributors, Inc., member FINRA, is
the distributor for SPY, an unit investment trust. ALPS
Distributors, Inc. is not affiliated with State Street Global
Advisors Funds Distributors, LLC.
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
© 2020 State Street Corporation - All Rights Reserved
State Street Global Advisors, One Iron Street, Boston, MA 02110
2908641.1.1.AM.RTL SPD002113
Expiration Date: 01/31/2021
1 Bloomberg Finance L.P., as of 12/31/2019 2 S&P Dow Jones
Indices Annual Survey of Assets 2018 3 Bloomberg Finance L.P., as
of 12/31/2019
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200124005037/en/
Olivia Offner +1 617.662.0198 ooffner@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