State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced share splits
on four SPDR ETFs. The splits will decrease the funds’ share prices
and increase the number of outstanding shares. The aggregate market
value of shares outstanding will not be impacted.
The share splits will apply to shareholders of record as of the
market close on January 9, 2023 and are payable after market close
on January 11, 2023. Shares will trade at their post-split price
effective January 12, 2023. The four SPDR ETFs include:
Ticker
Fund Name
Price As of 12/7/22
Split
Estimated Post-Split Price
HYMB
SPDR Nuveen Bloomberg High Yield Municipal
Bond ETF
$50.17
2:1
$25.09
SPYX
SPDR S&P 500 Fossil Fuel Reserves Free
ETF
$95.59
3:1
$31.86
EFAX
SPDR MSCI EAFE Fossil Fuel Reserves Free
ETF
$69.05
2:1
$34.53
EEMX
SPDR MSCI Emerging Markets Fossil Fuel
Reserves Free ETF
$58.73
2:1
$29.37
Source: ssga.com as of 12/7/22
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of
international and domestic asset classes. The funds provide
investors with the flexibility to select investments that are
aligned to their investment strategy. For more information, visit
www.ssga.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 index and
active 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 fourth-largest asset manager* with US $3.26 trillion† under
our care.
*Pensions & Investments Research Center, as of 12/31/21.
†This figure is presented as of September 30, 2022 and includes
approximately $55.12 billion USD 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. Please note all AUM is
unaudited.
Important Risk Disclosures
Investing involves risk of including the risk of 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. Brokerage commissions and ETF expenses
will reduce returns.
Investing in high yield fixed income securities,
otherwise known as "junk bonds", is considered speculative and
involves greater risk of loss of principal and interest than
investing in investment grade fixed income securities. These
Lower-quality debt securities involve greater risk of default or
price changes due to potential changes in the credit quality of the
issuer.
The value of the debt securities may increase or decrease
as a result of the following: market fluctuations, increases in
interest rates, inability of issuers to repay principal and
interest or illiquidity in the debt securities markets; the risk of
low rates of return due to reinvestment of securities during
periods of falling interest rates or repayment by issuers with
higher coupon or interest rates; and/or the risk of low income due
to falling interest rates. To the extent that interest rates rise,
certain underlying obligations may be paid off substantially slower
than originally anticipated and the value of those securities may
fall sharply. This may result in a reduction in income from debt
securities income.
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.
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.
HYMB, SPYX and EFAX are classified as “diversified” under
the Investment Company Act of 1940, as amended (the “1940 Act”);
however, the Fund may become “non-diversified,” as defined under
the 1940 Act, solely as a result of tracking the Index (e.g.,
changes in weightings of one or more component securities). When
the Fund is non-diversified, it may invest a relatively high
percentage of its assets in a limited number of issuers.
No fossil fuel reserve ownership may have an adverse
effect on a company’s profitability and, in turn, the returns of
the fund.
Equity securities may fluctuate in value and can decline
significantly in response to the activities of individual companies
and general market and economic conditions.
Concentrated investments in a particular industry or
sector tend to be more volatile than the overall market and
increases risk that events negatively affecting such sectors or
industries could reduce returns, potentially causing the value of
the Fund’s shares to decrease.
Investments in mid-sized companies may involve greater
risks than in those of larger, better known companies, but may be
less volatile than investments in smaller companies.
Foreign (non-U.S.) securities may be subject to greater
political, economic, environmental, credit and information risks.
Foreign securities may be subject to higher volatility than U.S.
securities, due to varying degrees of regulation and limited
liquidity.
As a “non-diversified” fund, EEMX may hold a smaller
number of portfolio securities than many other funds. To the extent
the Fund invests in a relatively small number of issuers, a decline
in the market value of a particular security held by the Fund may
affect its value more than if it invested in a larger number of
issuers. The value of Fund Shares may be more volatile than the
values of shares of more diversified funds. The Fund may become
diversified for periods of time solely as a result of tracking the
Index (e.g., changes in weightings of one or more component
securities).
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.
The returns on a portfolio of securities which exclude companies
that do not meet the portfolio’s specified ESG criteria may trail
the returns on a portfolio of securities which such include
companies. A portfolio’s ESG criteria may result in the portfolio
investing in industry sectors or securities which underperform the
market as a whole.
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.
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.
All information is from SSGA unless otherwise noted and has been
obtained from sources believed to be reliable, but its accuracy is
not guaranteed. There is no representation or warranty as to the
current accuracy, reliability or completeness of, nor liability
for, decisions based on such information and it should not be
relied on as such.
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.
The trademarks and service marks referenced herein are the
property of their respective owners. Third party data providers
make no warranties or representations of any kind relating to the
accuracy, completeness or timeliness of the data and have no
liability for damages of any kind relating to the use of such
data.
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 makes 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.
The funds or securities referred to herein are not sponsored,
endorsed, or promoted by MSCI, and MSCI bears no liability with
respect to any such funds or securities or any index on which such
funds or securities are based. The Prospectus contains a more
detailed description of the limited relationship MSCI has with SSGA
Funds Management, Inc and any related funds.
"Bloomberg®" and Bloomberg Municipal Yield Index are service
marks of Bloomberg Finance L.P. and its affiliates, including
Bloomberg Index Services Limited ("BISL"), the administrator of the
index (collectively, "Bloomberg") and have been licensed for use
for certain purposes by State Street Global Advisors. Bloomberg is
not affiliated with State Street Global Advisors, and Bloomberg
does not approve, endorse, review, or recommend SPDR Nuveen
Bloomberg High Yield Municipal Bond ETF. Bloomberg does not
guarantee the timeliness, accurateness, or completeness of any data
or information relating to SPDR Nuveen Bloomberg High Yield
Municipal Bond ETF.
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. 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.
Before investing, consider the fund’s 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.ssga.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
State Street Global Advisors, 1 Iron Street, Boston, MA
02210-1641 © 2022 State Street Corporation. All Rights Reserved.
5073950.2.1.AM.RTL Exp. Date: 12/31/2023
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version on businesswire.com: https://www.businesswire.com/news/home/20221209005522/en/
Deborah Heindel +1 617.662.9927 dheindel@statestreet.com
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