News Details

BOSTON--(BUSINESS WIRE)-- State Street Global Advisors (SSgA), the investment management business of State Street Corporation (NYSE: STT), today announced that the SPDR^(R) Barclays Capital Short Term Corporate Bond ETF (Symbol: SCPB) began trading on the NYSE Arca on December 17, 2009. Its annual expense ratio is 0.1245 percent.

Designed to improve access to investment grade short term corporate bonds, the SPDR Barclays Capital Short Term Corporate Bond ETF seeks to track the price and yield performance of the Barclays Capital US 1-3 Year Corporate Bond Index. The index includes corporate issues that have a remaining maturity of greater than or equal to 1 year and less than 3 years, are rated investment grade (average A2/A3 credit rating), and have $250 million or more of outstanding face value. As of November 30, 2009, there were 572 issues included in the Index with an average maturity of 1.91 years.

"As investors look to improve the diversification of their fixed income holdings, demand for precise access to the corporate bond duration curve has increased," said Anthony Rochte, senior managing director at State Street Global Advisors. "The SPDR Barclays Capital Short Term Corporate Bond ETF can help investors position their portfolios for a potential increase in interest rates, as short-term corporate bonds are historically less sensitive to interest rate movements than longer term issues."

The SPDR Barclays Capital Short Term Corporate Bond ETF enhances State Street's growing family of fixed income SPDRs. As of November 30, 2009, the SSgA Funds Management, Inc., the adviser to the SPDR Barclays Capital Short Term Corporate Bond ETF manages managed $9.2B in 18 bond ETFs.

State Street Global Advisors is one of the largest ETF providers in the United States and globally. U.S. assets under management for SPDR ETFs totaled more than $174 billion as of November 30, 2009.

About State Street Global Advisors

State Street Global Advisors, the investment management business of State Street Corporation (NYSE: STT), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.7 trillion in assets under management at September 30, 2009, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 26 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

SPDR ETFs are managed by SSgA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Bank and Trust Company.

The "SPDR(R)" trademark is used under license from the McGraw-Hill Companies, Inc. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by McGraw-Hill. Standard & Poor S&P SPDR S&P 500 and Select Sector SPDRs are trademarks of The McGraw-Hill Companies, Inc., and have been licensed for use by State Street Bank and Trust Company.

ETFs trade like stocks, are subject to investment risk and will fluctuate in market value. Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; and inflation risk.

Non-diversified funds that focus on a relatively small number of issuers tend to be more volatile than diversified funds and the market as a whole.

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.

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 www.spdrs.com. Read it carefully.

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    Source: State Street Corporation