The Select Sector SPDR
Funds listed in the table below, each an exchange-traded fund
(“ETF”), announced today that each ETF will make an additional 2019
income distribution. The ex-dividend date will be December 30,
2019, record date will be December 31, 2019 and payment date will
be January 3, 2020. The Energy Select Sector SPDR Fund (NYSE Arca
Exchange: XLE) and The Health Care Select Sector SPDR Fund (NYSE
Arca Exchange: XLV) have designated the additional dividend to be a
special distribution.
During the ETFs’ fiscal and tax year-end audits (September 30),
certain gains incurred related to corporate actions on underlying
portfolio holdings were re-characterized to ordinary income for
U.S. tax purposes. Generally, regulated investment companies must
distribute substantially all of their net income on a tax basis to
shareholders by calendar year-end or incur a 4% federal excise tax.
The net asset value (“NAV”) per share of the each ETF is reduced in
direct proportion to the amount of such additional
distributions.
Fund
Approximate Additional Net
Income
Shares Outstanding as of
December 18, 2019
Per Share Impact
The Energy Select Sector SPDR Fund
(XLE)
$389,000,000
176,874,200
$2.1993
Occidental Petroleum Corp. acquisition of
Anadarko Petroleum Corp.
The Health Care Select Sector SPDR Fund
(XLV)
$155,000,000
193,415,324
$0.8014
Cigna Corporation acquisition of Express
Scripts Holding Company
The amounts shown in the table above are estimates and may
change due to fund activity and changes in shares outstanding.
The Select Sector SPDR ETFs made their regularly scheduled
quarterly distribution on December 20, 2019, which consisted of
both net income earned from September 20, 2019 to December 19, 2019
and an estimate of net income to be earned through December 31,
2019.
Top 10 Holdings - XLE*
Weight
Exxon Mobil Corporation
21.92%
Chevron Corporation
20.64%
ConocoPhillips
4.95%
Phillips 66
4.82%
Schlumberger NV
4.73%
EOG Resources Inc.
4.35%
Marathon Petroleum Corporation
3.83%
Kinder Morgan Inc Class P
3.79%
Valero Energy Corporation
3.77%
Occidental Petroleum Corporation
3.26%
Top 10 Holdings - XLV*
Weight
Johnson & Johnson
10.05%
UnitedHealth Group Incorporated
7.30%
Merck & Co. Inc.
6.04%
Pfizer Inc.
5.71%
Abbott Laboratories
4.08%
Medtronic Plc
4.07%
Bristol-Myers Squibb Company
3.99%
Amgen Inc.
3.86%
AbbVie Inc.
3.53%
Thermo Fisher Scientific Inc.
3.40%
*As of December 17, 2019, and subject to
change.
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
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 $2.95 trillion* under our care.
* This figure is presented as
of September 30, 2019 and includes approximately $64 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:
All ETFs are subject to risk, including possible loss of
principal.
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. Although ETFs may be bought and sold on
the exchange through any brokerage account, ETFs are not
individually redeemable from the Fund. Investors may acquire ETFs
and tender them for redemption through the Fund in Creation Unit
Aggregations only.
XLE and XLV are offered to US Investors only and distributed
by ALPS Portfolio Solutions Distributor, Inc. member FINRA. ALPS
Portfolio Solutions Distributor, 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
Intellectual Property Information: 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.
State Street Global Advisors, One Iron Street, Boston, MA
02110
© 2019 State Street Corporation - All Rights Reserved
Expiration Date: 12/31/2020
2878615.1.1.AM.RTL
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Olivia Offner +1 617-662-0198 ooffner@statestreet.com
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