State Street Global Advisors (SSGA), the asset management business of
State Street Corporation (NYSE:STT), today announced share splits on 10
SPDR ETFs that offer exposure to companies in specific US industries.
With a share split, the aggregate market value of shares outstanding is
not impacted. The splits lower the funds’ share prices and increase the
number of outstanding shares. The Record Date for the share split will
be 9/8/2015 and the Pay Date will be 9/10/2015.
The SPDR ETFs with share splits include:
Ticker
|
|
|
Fund Name
|
|
|
Split Ratio
|
XAR
|
|
|
SPDR S&P Aerospace & Defense ETF
|
|
|
2:1
|
XBI
|
|
|
SPDR S&P Biotech ETF
|
|
|
3:1
|
XHE
|
|
|
SPDR S&P Health Care Equipment ETF
|
|
|
2:1
|
XHS
|
|
|
SPDR S&P Health Care Services ETF
|
|
|
2:1
|
XPH
|
|
|
SPDR S&P Pharmaceuticals ETF
|
|
|
2:1
|
XRT
|
|
|
SPDR S&P Retail ETF
|
|
|
2:1
|
XSD
|
|
|
SPDR S&P Semiconductor ETF
|
|
|
2:1
|
XSW
|
|
|
SPDR S&P Software & Services ETF
|
|
|
2:1
|
XTN
|
|
|
SPDR S&P Transportation ETF
|
|
|
2:1
|
MTK
|
|
|
SPDR Morgan Stanley Technology ETF
|
|
|
2:1
|
|
|
|
|
|
|
|
“With more than $3 billion of inflows into our entire industry lineup
over the last year, we are continuing to see investors gravitate towards
sector and industry investing as a means to play actionable market
themes,” said James Ross, executive vice president and global head of
SPDR Exchange Traded Funds at State Street Global Advisors. “The success
of our market leading sector and industry suite has not changed our
continuous commitment to adding value to investors whenever possible.
These share splits will make the 10 SPDR ETFs more affordable for
investors through lower trading costs and provide greater efficiency in
the creation and redemption process, which leads to the potential for
increased liquidity.”
With more than $6.7 billion of combined assets under management, these
10 funds are a part of SSGA’s leading suite of sector and industry SPDR
ETFs, which features 28 funds in total with $104.4 billion in assets.1
Our entire industry suite – which encompasses segments of the US market
from banks to telecom – is equally weighted, offering investors
comprehensive market cap and specific industry coverage at an attractive
cost of 0.35 percent.
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 Bank and Trust Company. 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 our clients, and those who rely on them, achieve financial
security. We partner with many of the world’s largest, most
sophisticated investors and financial intermediaries to help them reach
their goals through a rigorous, research-driven investment process
spanning both indexing and active disciplines. With trillions* in
assets, our scale and global reach offer clients unrivaled access to
markets, geographies and asset classes, and allow us to deliver
thoughtful insights and innovative solutions.
State Street Global Advisors is the investment management arm of State
Street Corporation.
*Assets under management were $2.4 trillion as of June 30, 2015.
Assets under management include approximately $26,7 billion as of June
30, 2015), for which State Street Global Markets, LLC, an affiliate of
SSgA, serves as the distribution agent.
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.
Frequent trading of ETFs could significantly increase commissions and
other costs such that they may offset any savings from low fees or costs.
Because of their narrow focus, sector funds tend to be more volatile
than funds that diversify across many sectors and companies.
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.
Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a
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. ALPS Distributors, Inc., a registered broker-dealer, is
distributor for SPDR? S&P® 500, SPDR® S&P® MidCap 400 and SPDR Dow Jones
Industrial Average, and all unit investment trusts. ALPS Portfolio
Solutions Distributor, Inc. is distributor for Select Sector SPDRs. ALPS
Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are
not affiliated with State Street Global Markets, 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.
CORP-1572
1 Source: SSGA, Bloomberg; as of 08/28/2015
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