State Street Global Advisors (SSGA), the asset management
business of State Street Corporation (NYSE: STT), today announced
the launch of SPDR Portfolio ETFs, a suite of 15 ultra-low-cost
ETFs that provide access to a wide range of equity and fixed income
asset classes to help investors meet their goals.
Comprising 15 existing funds, including three that will track
new indices, and with over $11B1 in existing assets under
management, the SPDR Portfolio ETFs include:
New Name and Ticker New Total Expense
Ratio SPDR Portfolio Total Stock Market ETF (SPTM) 0.03%
SPDR Portfolio Large Cap ETF (SPLG) 0.03% SPDR Portfolio Mid
Cap ETF (SPMD) 0.05% SPDR Portfolio Small Cap ETF (SPSM)
0.05% SPDR Portfolio S&P 500® Growth ETF (SPYG)
0.04% SPDR Portfolio S&P 500 Value ETF (SPYV) 0.04% SPDR
Portfolio S&P 500 High Dividend ETF (SPYD) 0.07% SPDR
Portfolio World ex-US ETF (SPDW) 0.04% SPDR Portfolio
Emerging Markets ETF (SPEM) 0.11% SPDR Portfolio Aggregate
Bond ETF (SPAB) 0.04% SPDR Portfolio Long Term Corporate
Bond ETF (SPLB) 0.07% SPDR Portfolio Intermediate Term
Corporate Bond ETF (SPIB) 0.07% SPDR Portfolio Short Term
Corporate Bond ETF (SPSB) 0.07% SPDR Portfolio Long Term
Treasury ETF (SPTL) 0.06% SPDR Portfolio Short Term Treasury
ETF (SPTS) 0.06%
“We are truly excited to be able to offer ultra-low-cost ETFs to
investors. Since launching SPY nearly 25 years ago, State
Street Global Advisors has continually looked for opportunities to
help investors build better portfolios with ETFs,” said Nick Good,
co-head of the Global SPDR business at SSGA. “Investors have been
asking us to provide these solutions to offer them a greater choice
for low cost ETFs. The launch of the SPDR Portfolio ETFs provides a
solution that meets this growing demand.”
"Each fund in the SPDR Portfolio suite is priced equal to or
below the lowest fee ETF in the category," said Rory Tobin, co-head
of the Global SPDR business at SSGA. “Some of these changes in
price are significant - such as offering Emerging Markets exposure
at 11 basis points. In addition, these funds have a combined total
of over $11B2 in assets and trade actively, so there is no
incubation period needed."
Today's launch of SPDR Portfolio ETFs coincides with the launch
of TD Ameritrade’s newly expanded ETF Market Center. The 15 SPDR
portfolio ETFs will all be available to purchase commission free on
TD Ameritrade’s ETF Market Center.
"TD Ameritrade has been a great collaborator,” said Good. “With
their help, and by repurposing existing SPDR ETFs, we have been
able to offer investors a very compelling solution for their
portfolios."
The suite of SPDR Portfolio ETFs will provide investors access
to a broad range of asset classes to assist in the construction of
a core portfolio strategy, including fixed income, domestic equity,
emerging market and international equity.
“Research has long shown that asset allocation decisions explain
over 90 percent of the variance in portfolio returns,” said Matt
Bartolini, head of SPDR Americas Research. “Simply put, it all
starts with asset allocation. And today’s low return expectations
make building an ultra-low-cost, diversified core more important
than ever, as costs accumulate over time, eroding a portfolio’s
total return.”
SSGA also announced changes to the names and tickers of the 15
ETFs now included in the suite of SPDR Portfolio ETFs. Effective
October 16, 2017, the below changes will be made and no action is
required by shareholders to effect these changes.
Previous Name and Ticker
Previous Total Expense Ratio New Name and
Ticker New Total Expense Ratio SPDR Russell 3000®
ETF (THRK) 0.10% SPDR Portfolio Total Stock Market
ETF (SPTM) 0.03% SPDR Russell 1000® ETF (ONEK) 0.10%
SPDR Portfolio Large Cap ETF (SPLG) 0.03% SPDR
S&P 1000® ETF (SMD) 0.10% SPDR Portfolio Mid Cap
ETF (SPMD) 0.05% SPDR Russell 2000® ETF (TWOK) 0.10%
SPDR Portfolio Small Cap ETF (SPSM) 0.05% SPDR
S&P 500 Growth ETF (SPYG) 0.15% SPDR Portfolio
S&P 500 Growth ETF (SPYG) 0.04% SPDR S&P 500 Value
ETF (SPYV) 0.15% SPDR Portfolio S&P 500 Value ETF
(SPYV) 0.04% SPDR S&P 500 High Dividend ETF (SPYD)
0.12% SPDR Portfolio S&P 500 High Dividend ETF
(SPYD) 0.07% SPDR S&P® World ex-US ETF (GWL)
0.34% SPDR Portfolio World ex-US ETF (SPDW) 0.04%
SPDR S&P Emerging Markets ETF (GMM) 0.59% SPDR
Portfolio Emerging Markets ETF (SPEM) 0.11% SPDR Bloomberg
Barclays Aggregate Bond ETF (BNDS) 0.08% SPDR
Portfolio Aggregate Bond ETF (SPAB) 0.04% SPDR Bloomberg
Barclays Long Term Corporate Bond ETF (LWC) 0.12%
SPDR Portfolio Long Term Corporate Bond ETF (SPLB) 0.07%
SPDR Bloomberg Barclays Intermediate Term Corporate Bond ETF (ITR)
0.12% SPDR Portfolio Intermediate Term Corporate Bond
ETF (SPIB) 0.07% SPDR Bloomberg Barclays Short Term
Corporate Bond ETF (SCPB) 0.12% SPDR Portfolio Short
Term Corporate Bond ETF (SPSB) 0.07% SPDR Bloomberg Barclays
Long Term Treasury ETF (TLO) 0.10% SPDR Portfolio
Long Term Treasury ETF (SPTL) 0.06% SPDR Bloomberg Barclays
Short Term Treasury ETF (SST) 0.10% SPDR Portfolio
Short Term Treasury ETF (SPTS) 0.06%
Coinciding with the launch of the SPDR Portfolio ETF suite, SSGA
is introducing three new proprietary indices to provide investors
with diversified exposure to the U.S. large cap market, U.S. small
cap market and the total U.S. equity market, encompassing stocks of
all market capitalizations. The following index changes are
effective November 16, 2017:
Fund Name and Ticker Previous
Benchmark Index New Benchmark Index SPDR
Portfolio Total Stock Market ETF (SPTM) Russell 3000 Index
SSGA Total Stock Market Index SPDR Portfolio Large Cap ETF
(SPLG) Russell 1000 Index SSGA Large Cap Index SPDR
Portfolio Small Cap ETF (SPSM) Russell 2000 Index
SSGA Small Cap Index
SSGA Total Stock Market Index
The SSGA Total Market Index (the “Index”), is designed to
measure the performance of the broad market segment of the U.S.
equity market. The investible universe of the Index comprises all
equity securities listed on major U.S. exchanges that are either
incorporated or headquartered in the U.S. and meet minimum and
maximum price, size, free float ratio and liquidity requirements.
The Index was created and is sponsored by State Street Global
Advisors. ICE Data Indices is responsible for the day-to-day
management, calculation, and distribution of the index.
The Index is constructed to provide a comprehensive and unbiased
barometer for the broad market segment of the U.S. equity market
and is reconstituted semi-annually to ensure continued appropriate
representation. The Index is weighted by float-adjusted market
capitalization at each semi-annual rebalance. The Index rebalance
date is the last business day in April and October.
SSGA Large Cap Index
The SSGA Large Cap Index (the “Index”), is designed to measure
the performance of the large-capitalization segment of the U.S.
equity market. The investible universe of the Index comprises all
equity securities listed on major U.S. exchanges that are either
incorporated or headquartered in the U.S. and meet minimum and
maximum price, size, free float ratio and liquidity requirements.
The Index includes the securities of companies whose cumulative
total market cap represents approximately the top 90% of the
investible universe. The Index was created and is sponsored by
State Street Global Advisors. ICE Data Indices is responsible for
the day-to-day management, calculation, and distribution of the
index.
The Index is constructed to provide a comprehensive and unbiased
barometer for the large-capitalization segment of the U.S. equity
market and is reconstituted semi-annually to ensure continued
appropriate representation. The Index is weighted by float-adjusted
market capitalization at each semi-annual rebalance. The Index
rebalance date is the last business day in April and October.
SSGA Small Cap Index
The SSGA Small Cap Index (the “Index”), is designed to measure
the performance of the small-capitalization segment of the U.S.
equity market. The investible universe of the Index comprises all
equity securities listed on major U.S. exchanges that are either
incorporated or headquartered in the U.S. and meet minimum and
maximum price, size, free float ratio and liquidity requirements.
The Index includes the securities of companies whose cumulative
total market cap represents approximately the bottom 10% of the
investible universe. The Index was created and is sponsored by
State Street Global Advisors. ICE Data Indices is responsible for
the day-to-day management, calculation, and distribution of the
index.
The Index is constructed to provide a comprehensive and unbiased
barometer for the small-capitalization segment of the U.S. equity
market and is reconstituted semi-annually to ensure continued
appropriate representation. The Index is weighted by float-adjusted
market capitalization at each semi-annual rebalance. The Index
rebalance date is the last business day in April and October.
Definitions:
Float-Adjusted Market Capitalization:
An index methodology that determines the market capitalization
of an index based on the shares outstanding of the underlying
companies deemed available for purchase in the public equity
markets by international investors.
Free-float methodology:
Market capitalization is calculated by taking the equity's price
and multiplying it by the number of shares readily available in the
market.
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 nearly four decades, State Street Global Advisors has been
committed to helping financial professionals and those who rely on
them achieve their investment objectives. We partner with
institutions and financial professionals to help them reach their
goals through a rigorous, research-driven process spanning both
active and index disciplines. We take pride in working closely with
our clients to develop precise investment strategies, including our
pioneering family of SPDR ETFs. With trillions* in assets under
management, our scale and global footprint provide access to
markets and asset classes, and allow us to deliver expert insights
and investment solutions.
State Street Global Advisors is the investment management arm of
State Street Corporation.
* Assets under management were $2.61 trillion as of June 30,
2017. AUM reflects approx. $34 billion (as of June 30, 2017) with
respect to which State Street Global Advisors Funds Distributors,
LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street
Global Advisors are affiliated.
Important Risk Information
ETFs trade like stocks, 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.
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.
Investments in small-sized companies may involve greater
risks than in those of larger, better known companies. Returns on
investments in stocks of small companies could trail the returns on
investments in stocks of larger companies.
Foreign investments involve greater risks than US investments,
including political and economic risks and the risk of currency
fluctuations, all of which may be magnified in emerging
markets.
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.
Some of the funds may contain interest rate risk (as interest
rates rise bond prices usually fall); the risk of issuer default;
inflation risk; and issuer call risk.
Returns on investments in stocks of large US companies could
trail the returns on investments in stocks of smaller and mid-sized
companies.
The values of debt securities may decrease as a result of many
factors, including, by way of example, general market fluctuations;
increases in interest rates; actual or perceived inability or
unwillingness of issuers, guarantors or liquidity providers to make
scheduled principal or interest payments; illiquidity in debt
securities markets; and prepayments of principal, which often must
be reinvested in obligations paying interest at lower rates.
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 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.
State Street Global Advisors and SSGA are registered trademarks
of State Street Corporation.
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, 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.
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 on SPDR ETFs,
call 866.787.2257 or visit spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
CORP-3356
1 Bloomberg as of 9/29/17
2 Bloomberg as of 9/29/17
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version on businesswire.com: http://www.businesswire.com/news/home/20171016005642/en/
State Street CorporationAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.com
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