Insights

Democratising core exposures for European investors

Lower total expense ratios across our range

Over time, we have reduced total expense ratios across a number of funds as part of a long term commitment to accessibility. These changes are driven by our global scale and innovative approach, and reflect a commitment to sharing efficiencies with investors in a sustainable way. By working closely with our partners across the distribution ecosystem, we seek to support the democratisation of access to investment products, and therefore broader participation in markets, while maintaining a long term, responsible approach to investing. Below is a summary of the funds impacted.

Upcoming TER reduction (effective June 2026)

The following total expense ratio reduction is scheduled to take effect in June 2026

ISIN	Name	Ticker	Previous TER (%)	New TER (%)
IE0008GRJRO8	State Street® SPDR® State Street SPDR S&P Europe Defense Vision UCITS ETF (Acc)	DEFV LN	0.30%	0.20%

ISIN

Name

Ticker

Previous TER (%)

New TER
(%)

IE0008GRJRO8

State Street® SPDR®

State Street SPDR S&P Europe Defense Vision UCITS ETF (Acc)

DEFV LN

0.30%

0.20%

Previous TER reductions effective 1 January 2026

ISIN	Name	Ticker	Previous TER (%)	New TER (%)
IE00B44CND37	State Street® SPDR® Bloomberg U.S. Treasury Bond UCITS ETF (Dist)	TRSY LN	0.15%	0.05%
IE00BZ0G8977	State Street® SPDR® Bloomberg U.S. TIPS UCITS ETF (Dist)	TIPS LN	0.17%	0.05%
IE00BJXRT698	State Street® SPDR® Bloomberg 1-3 Month T-Bill UCITS ETF (Acc)	ZPR1 GY	0.10%	0.05%
IE00BJXRT706	State Street® SPDR® Bloomberg 1-3 Month T-Bill MXN Hdg UCITS ETF (Acc)	ZPRM GY	0.10%	0.05%
IE00BC7GZJ81	State Street® SPDR® Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist)	TRS3 LN	0.15%	0.05%
IE00BYSZ5R67	State Street® SPDR® Bloomberg 3-7 Year U.S. Treasury Bond UCITS ETF (Dist)	TRS5 LN	0.15%	0.05%
IE00BYSZ5T81	State Street® SPDR® Bloomberg 7-10 Year U.S. Treasury Bond UCITS ETF (Dist)	TRSX LN	0.15%	0.05%
IE0005KI2KD2	State Street® SPDR® Bloomberg 10+ Year U.S. Treasury Bond UCITS ETF (Acc)	LUTAX I2	0.15%	0.05%
IE00BYSZ5V04	State Street® SPDR® Bloomberg 10+ Year U.S. Treasury Bond UCITS ETF (Dist)	LUTR LN	0.15%	0.05%
IE00BKWQ0Q14	State Street® SPDR® MSCI Europe UCITS ETF	EROX IM	0.25%	0.08%
IE00B910VR50	State Street® SPDR® MSCI EMU UCITS ETF	EURO IM	0.18%	0.08%

New share classes launched with lower TERs (February 2026)

The following share classes were launched with the lower total expense ratios shown at inception.

ISIN	Name	Ticker	Previous TER (%)
IE000ZMFFPP4	SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Acc)	SPFY	0.05%
IE000191HKF0	SPDR Bloomberg 3-7 Year U.S. Treasury Bond UCITS ETF (Acc)	SPTF	0.05%
IE000K22VCJ6	SPDR Bloomberg 7-10 Year U.S. Treasury Bond UCITS ETF (Acc)	SPTH	0.05%
IE000QB5HJC8	SPDR Bloomberg U.S. Treasury Bond UCITS ETF (Acc)	SPFS	0.05%
IE00090GHHQ4	SPDR Bloomberg U.S. TIPS UCITS ETF (Acc)	SPTD	0.05%

Previous TER reductions (2024–2025)

Prior to 2026, total expense ratio reductions were implemented across selected equity and fixed income ETFs in 2024 and 2025, reflecting the same long-term approach to accessibility and partnership.

ISIN	Name	Ticker	Previous TER (%)	New TER (%)
IE00B6YX5C33	State Street® SPDR® S&P® 500 UCITS ETF (Dist)	SPY5 LN	0.09%	0.03%
IE00BYYW2V44	State Street® SPDR® S&P® 500 EUR Hdg UCITS ETF (Acc)	SPPE GY	0.12%	0.05%
IE00BH4GPZ28	State Street® SPDR® S&P® 500 Leaders UCITS ETF (Acc)	500X LN	0.10%	0.10%
IE00B44Z5B48	State Street® SPDR® MSCI All Country World UCITS ETF (Acc)	ACWD LN	0.40%	0.12%
IE00BF1B7389	State Street® SPDR® MSCI All Country World EUR Hdg UCITS ETF (Acc)	SPP1 GY	0.45%	0.17%
IE00BF1B7272	State Street® SPDR® MSCI All Country World USD Hdg UCITS ETF (Acc)	SPP2 GY	0.45%	0.17%
IE00B3S5XW04	State Street® SPDR® Bloomberg Euro Government Bond UCITS ETF (Dist)	SYBB GY	0.10%	0.07%
IE00BMYHQM42	State Street® SPDR® Bloomberg Euro Government Bond UCITS ETF (Acc)	GOVA NA	0.10%	0.07%
IE00B3YLTY66	State Street® SPDR® MSCI All Country World Investable Market UCITS ETF (Acc)	IMID LN	0.40%	0.17%

Disclaimer

Marketing Communication
For institutional / professional investors use only.
Information classification: general access

Important risk information

Equity securities may fluctuate in value and can decline significantly in response to the activities of individual companies and generalmarket and economic conditions.

Companies with large market capitalizations go in and out of favor based on market and economic conditions. Larger companies tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the value of the security may not rise as much as companies with smaller market capitalizations.

Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates rise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may besubject to a substantial gain or loss.

International Government bonds and corporate bonds generally have more moderate short-term price fluctuations than stocks, but provide lower potential long-term returns.

Investing in foreign domiciled securities may involve risk of capital loss from unfavorable fluctuation in currency values, withholding taxes, from differences in generally accepted accounting principles or from economic or political instability in other nations. Investments in emerging or developing markets may be more volatile and less liquid thaninvesting in developed markets and may involve exposure to economic structures that are generally less diverse and mature and to political systems which have less stability than those of more developed countries.

The returns on a portfolio of securities which exclude companies that do not meet the portfolio's sustainable strategy criteria may trail the returns on a portfolio of securities which include such companies. A portfolio's sustainable strategy criteria may result in the portfolio investing in industry sectors or securities which underperform the market as a whole.

Expiration Date: 30 June 2027