State Street ETF Press Releases

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State Street Global Advisors Reduces Fees on Two Fixed Income SPDR® Portfolio ETFs™


BOSTON March 24, 2021 – State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced expense ratio reductions for the SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and SPDR Portfolio High Yield Bond ETF (SPHY).

“We are always reviewing our low-cost suite of SPDR Portfolio ETFs for opportunities to reduce the total cost of ownership for investors,” said Noel Archard, global head of SPDR Product at State Street Global Advisors. “Designed to help clients build a strong, low cost core, SPDR Portfolio ETFs have attracted more than $65 billion of asset flows since debuting less than four years ago1, which is a testament to the suite’s compelling value.”

With today’s expense ratio reductions, SPMB and SPHY are the lowest cost mortgage-backed and high yield bond ETF offerings, respectively.2

Effective March 24, 2021, the expense ratios of the two funds will be lowered as follows:

Fund Name

Ticker

Previous Net
Expense Ratio

New Net
Expense Ratio

SPDR Portfolio Mortgage Backed Bond ETF

SPMB

0.06%

0.04%3

SPDR Portfolio High Yield Bond ETF

SPHY

0.15%

0.10%

Source: State Street Global Advisors, as of 03/24/2021.

Launched in 2017, the SPDR Portfolio ETF suite is designed to provide investors greater choice in low-cost ETFs. The suite includes 22 SPDR ETFs spanning US equity, international equity and fixed income asset classes to help investors build a diversified core portfolio of stocks and bonds with ETFs priced as low as three basis points. Widely embraced by investors, SPDR Portfolio ETFs have more than $92 billion of assets.1

For more information on SPDR Portfolio ETFs, visit www.ssga.com/low-cost-etfs.

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 aligned to their investment strategy. For more information, visit www.ssga.com/etfs.

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 US $3.47 trillion* under our care.

*This figure is presented as of December 31, 2020 and includes approximately $75.17 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.

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