State Street Global Advisors (SSGA), the asset management
business of State Street Corporation (NYSE:STT), today announced
that the SPDR Dorsey Wright Fixed Income Allocation ETF (Ticker:
DWFI) began trading on the Nasdaq Stock Market, SSGA’s first SPDR
ETF to be listed on this exchange. DWFI, a fund of funds, allows
investors an opportunity to take advantage of Dorsey, Wright &
Associates’ (DWA) signal-driven, momentum-focused technical index
methodology for fixed income exposure, implemented in a single SPDR
ETF.
“We think that bond markets are likely to exist in a low
yielding and relatively uncertain environment for the foreseeable
future, and we continue to look to provide unique solutions for
investors to navigate these markets and seek to meet their return
targets,” said Nick Good, co-head, Global SPDR business at State
Street Global Advisors. “With the launch of DWFI we are excited to
have developed a relationship with Dorsey, Wright & Associates
that allows SSGA to offer a convenient, cost effective, exchange
traded vehicle tracking an index that is intended, through its
relative strength methodology, to respond to changes in price of
certain fixed income ETFs, which may reflect volatility, rates and
yield spreads.”
The SPDR Dorsey Wright Fixed Income Allocation ETF seeks to
track the performance of the Dorsey Wright Fixed Income Allocation
Index (“Index”). The Index is designed to provide targeted exposure
to the SPDR fixed income ETFs that offer the greatest potential to
outperform the other SPDR fixed income ETFs included in the Index
selection universe. Dorsey, Wright & Associates’ proprietary
Index methodology ranks each SPDR fixed income ETF by relative
strength1 and selects the four top-ranked SPDR ETFs for an initial
equal weighted inclusion.
The net and gross expense ratio for the SPDR Dorsey Wright Fixed
Income Allocation ETF is 0.60 percent.2
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 Corporation. 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 financial professionals and those who rely on
them achieve their investment objectives. We partner with
institutions and financial professionals to help them reach their
goals through a rigorous, research-driven process spanning both
active and index disciplines. We take pride in working closely with
our clients to develop precise investment strategies, including our
pioneering family of SPDR® ETFs. With trillions* in assets under
management, our scale and global footprint provide unrivaled access
to markets and asset classes, and allow us to deliver expert
insights and investment solutions.
State Street Global Advisors is the investment management arm of
State Street Corporation.
*Assets under management were $2 trillion as of March 31,
2016. AUM reflects approx.32.6B with respect to which State Street
Global Markets, LLC (SSGM) serves as marketing agent; SSGM and
State Street Global Advisors are affiliated.
1. Pursuant to the Index methodology, a SPDR ETF's “relative
strength” is the measurement of its price momentum as compared to
the price momentum of all other SPDR ETFs in the selection
universe, based on historical daily closing prices inclusive of
dividends, since inception, of each SPDR ETF in the universe.
2. The gross expense ratio is the fund’s total annual operating
expenses ratio. It is gross of any fee waivers or expense
reimbursements. It can be found in the fund’s most recent
prospectus.
IMPORTANT RISK INFORMATION:
Bonds generally present less short-term risk and
volatility than stocks, but contain interest rate risk (as interest
rates raise, 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 be subject to a
substantial gain or loss.
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.
Investment risk the fund is subject to the risks of the
underlying investments, which may include actively managed funds.
Market fluctuations may alter the asset allocation of the
underlying index which will result in a different risk profile from
time to time.
Momentum risk the fund employs a “momentum” style of
investing that emphasizes investing in securities that have had
higher recent price performance compared to other securities. This
style of investing is subject to the risk that these securities may
be more volatile than a broad cross-section of securities or that
the returns on securities that have previously exhibited price
momentum are less than returns on other styles of investing or the
overall stock market. Momentum can turn quickly and cause
significant variation from other types of investments.
Passively managed funds hold 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.
Diversification does not ensure a profit or guarantee against
loss.
Standard & Poor’s, S&P and SPDR are registered
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 these trademarks have been
licensed for use by S&P Dow Jones Indices LLC (SPDJI) and
sublicensed for certain purposes by State Street Corporation. State
Street Corporation’s financial products are not sponsored,
endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their
respective affiliates and third party licensors and none of such
parties make any representation regarding the advisability of
investing in such product(s) nor do they have any liability in
relation thereto, including for any errors, omissions, or
interruptions of any index.
There is no relationship between Dorsey Wright & Associates,
LLC (collectively with its parent companies and affiliates, “Dorsey
Wright”) and State Street Global Advisors (“SSGA”) other than a
license by Dorsey Wright to SSGA of certain Dorsey Wright
trademarks and trade names, and the Dorsey Wright Fixed Income
Allocation Index (“Index”), for use by SSGA.
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. Dorsey Wright and State Street
are not affiliated.
Before investing, consider the fund’s 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.
Not FDIC Insured –No Bank Guarantee – May Lose Value
State Street Global Advisors, One Lincoln Street, Boston, MA
02111-2900
© 2016 State Street Corporation - All Rights Reserved
CORP-1991
Exp. Date - 05/31/2017
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version on businesswire.com: http://www.businesswire.com/news/home/20160602006214/en/
State Street CorporationAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.com
SPDR Dorsey Wright Fixed... (NASDAQ:DWFI)
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