- Providing Access to Derivative Income, Emerging Markets
ex-China and Commodities, SPIN, XCNY and CERY Are Designed to Help
Investors Customize Portfolios
State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced the launch of
three new ETFs: the SPDR® SSGA US Equity Premium Income ETF
(SPIN), the SPDR® S&P® Emerging Markets ex-China ETF
(XCNY), and the SPDR® Bloomberg Enhanced Roll Yield
Commodity Strategy No K-1 ETF (CERY). The funds are
designed to help investors capture opportunities and manage
risk.
“As investors increasingly turn to ETFs to optimize their
portfolios, we’re excited to be expanding our SPDR ETF offering to
help them create better outcomes,” said Anna Paglia, Chief Business
Officer at State Street Global Advisors. “SPIN, XCNY, and CERY were
each developed to expand the range of investment options that can
be expressed by clients who are looking for innovative tools to
fine-tune their portfolios and better meet their investment
objectives.”
The SPDR SSGA US Equity Premium Income ETF (SPIN) is an
actively managed ETF that is designed to enhance income generation
through a dynamic call writing program while also maintaining the
potential for long-term growth of capital by constructing an
underlying portfolio of high quality large- and mid-cap US stocks
that exhibit strong fundamentals and long-term growth prospects.
Priced at 25 basis points, SPIN may be a compelling offer for
investors seeking enhanced income.
The SPDR S&P Emerging Markets ex-China ETF (XCNY)
seeks to track a market capitalization-weighted index of large-,
mid-, and small-cap emerging market companies that excludes
companies domiciled in China. By removing Chinese equities, XCNY
may allow investors to manage their China risk exposure separately,
while still seeking high growth and capital appreciation potential
from emerging market economies. And priced at 15 basis points, XCNY
is the lowest-cost fund offering exposure to EM ex-China.1
The SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No
K-1 ETF (CERY) seeks to track the total return performance of
the Bloomberg Enhanced Roll Yield Total Return Index. Designed to
provide broad commodities market exposure with a focus on
diversification and enhanced roll yields, CERY may potentially
reduce the costs associated with rolling over commodity futures
contracts while providing the potential diversification and
inflation-hedging benefits of the asset class.
For more information on these SPDR ETFs 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 pioneers
in index and ETF investing, we are always inventing new ways to
invest. As a result, we have become the world’s fourth-largest
asset manager* with US $4.37 trillion† under our care.
*Pensions & Investments Research Center, as of 12/31/23.
†This figure is presented as of June 30, 2024 and includes ETF AUM
of $1,393.92 billion USD of which approximately $69.35 billion USD
is in gold 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.
1 Morningstar, as of 09/05/2024. Based on 17 US-domiciled funds
in the category of US Diversified Emerging Markets and name
containing ‘ex-China.’
Important Risk Information
Investing involves risk of including the risk of loss of
principal.
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 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.
This communication is not intended to promote or recommend the
use of options or options trading strategies and should not be
relied upon as such.
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.
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.
Actively managed funds, like SPIN, do not seek to
replicate the performance of a specified index. An actively managed
fund may underperform its benchmark. An investment in the fund is
not appropriate for all investors and is not intended to be a
complete investment program. Investing in the fund involves risks,
including the risk that investors may receive little or no return
on the investment or that investors may lose part or even all of
the investment.
Equity securities may fluctuate in value and can decline
significantly in response to the activities of individual companies
and general market and economic conditions.
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. These risks are magnified in emerging
markets.
Non-diversified funds that focus on a relatively small
number of stocks tend to be more volatile than diversified funds
and the market as a whole.
Options investing entails a high degree of risk and may
not be appropriate for all investors. SPIN’s use of call options
involves speculation and can lead to losses because of adverse
movements in the price or value of the underlying stock, index, or
other asset, which may be magnified by certain features of the
options.
Passively managed funds, like CERY and XCNY, 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.
Investing in commodities entails significant risk and is
not appropriate for all investors. Commodities investing entails
significant risk as commodity prices can be extremely volatile due
to wide range of factors. A few such factors include overall market
movements, real or perceived inflationary trends, commodity index
volatility, international, economic and political changes, change
in interest and currency exchange rates.
Commodities and commodity-index linked securities may be
affected by changes in overall market movements, changes in
interest rates, and other factors such as weather, disease,
embargoes, or political and regulatory developments, as well as
trading activity of speculators and arbitrageurs in the underlying
commodities.
Investing in futures is highly risky. Futures positions
are considered highly leveraged because the initial margins are
significantly smaller than the cash value of the contracts. The
smaller the value of the margin in comparison to the cash values of
the futures contract, the higher the leverage. There are a number
of risks associated with futures investing including but not
limited to counterparty credit risk, basis risk, currency risk,
derivatives risk, foreign issuer exposure risk, sector
concentration risk, leveraging and liquidity risks.
Investing in swaps is highly risky. Swap contracts are
not standardized, nor are they traded on an index. Rather, they are
negotiated privately between the counterparties and are not settled
by a centralized clearing-house. As such, swap contracts subject a
party to significant counterparty risk. Swap positions are
considered highly leveraged because the initial margins are
significantly smaller than the notional value of the contracts. The
smaller the value of the margin in comparison to the notional value
of the swap contract, the higher the leverage. There are a number
of risks associated with forward investing including but not
limited to counterparty credit risk, currency risk, derivatives
risk, foreign issuer exposure risk, sector concentration risk,
leveraging and liquidity risks.
CERY seeks to achieve its investment objective primarily through
exposure to commodity-linked derivative instruments based on the
Fund’s benchmark index. The Fund expects to gain exposure to these
investments by investing in a wholly-owned subsidiary, an exempted
limited company organized under the laws of the Cayman Islands (the
“Subsidiary”). The Subsidiary is not registered under the
Investment Company Act of 1940, as amended (“1940 Act”) and is not
subject to all of the investor protections of the 1940 Act. Thus,
the Fund, as an investor in the Subsidiary, will not have all of
the protections offered to investors in registered investment
companies. In addition, changes in the laws of the United States
and/or the Cayman Islands could result in the inability of the Fund
to operate as intended and could negatively affect the Fund and its
shareholders.
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: The S&P 500® Index
is a product of S&P Dow Jones Indices LLC or its affiliates
(“S&P DJI”) and have been licensed for use by State Street
Global Advisors. S&P®, SPDR®, S&P 500®,US 500 and the 500
are 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 has been licensed for use
by S&P Dow Jones Indices; and these trademarks have been
licensed for use by S&P DJI and sublicensed for certain
purposes by State Street Global Advisors. The fund is not
sponsored, endorsed, sold or promoted by S&P DJI, Dow Jones,
S&P, their respective affiliates, and none of such parties make
any representation regarding the advisability of investing in such
product(s) nor do they have any liability for any errors,
omissions, or interruptions of these indices.
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 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 ssga.com. Read it carefully.
Not FDIC Insured - No Bank Guarantee - May Lose Value
State Street Global Advisors Fund Distributors, LLC,
member FINRA, SIPC
© 2024 State Street Corporation. All Rights Reserved. State
Street Global Advisors Funds Distributors, LLC, One Iron Street,
Boston, MA 02210
6772609.1.1.AM.RTL Exp. Date: 09/30/2025
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version on businesswire.com: https://www.businesswire.com/news/home/20240829590833/en/
Deborah Heindel 617-662-9927 dheindel@statestreet.com
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