State Street changes names, indexes on four SPDR ETFs

Jan. 24, 2020 9:01 AM ETState Street Corporation (STT), SPLG, SPMD, SPSM, SPTMSP500By: Liz Kiesche, SA News Editor
  • State Street (NYSE:STT) asset management arm changes names and indexes on four of its low-cost SPDR Portfolio ETFs, with a combined $11.3B in assets.
  • The changes seek to provide a more stratified ETF toolkit that targets segments of the U.S. equity market in a cost-effective way, State Street Global Advisors says.
  • SPDR Portfolio Large Cap ETF (NYSEARCA:SPLG) changes its name to SPDR Portfolio S&P 500 ETF and replaces the SSGA Large Cap Index for the S&P 500 Index; expense ratio is 0.03%.
  • SPDR Portfolio Mid Cap ETF (NYSEARCA:SPMD) becomes the SPDR Portfolio S&P 400 Mid Cap ETF and uses the S&P MidCap 400 Index as its benchmark instead of the S&P 1000; expense ratio 0.05%.
  • SPDR Portfolio Small Cap ETF (NYSEARCA:SPSM) changes to the SPDR Portfolio S&P 600 Small Cap ETF and swaps in the S&P SmallCap 600 Index for the SSGA Small Cap Index; expense ratio 0.05%.
  • SPDR Portfolio Total Stock Market ETF (NYSEARCA:SPTM) is renamed the SPDR S&P 1500 Composite Stock Market ETF and uses the S&P Composite 1500 Index as its benchmark instead of the SSGA Total Stock Market Index; expense ratio is 0.03%.

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