Please replace the release dated July 9, 2013 with the following corrected version due to updated information regarding fees and expenses in the chart.
The corrected release reads:
NEW ETF BENCHMARK CHANGES FROM SSGA FEED INVESTOR APPETITE FOR INCREASED ACCESS TO US EQUITY MARKET
Offers New Small Cap ETF and Benchmark Change for Three SPDR ETFs
State Street Global Advisors (SSgA)*, the asset management arm of State Street Corporation (NYSE:STT), today announced the availability of the SPDR Russell 2000 ETF (Symbol: TWOK), which began trading on NYSE Arca on July 09, 2013, and changes to the indexes, names and tickers of three US equity SPDR ETFs effective the same date. The three SPDR ETFs will seek to track Russell Indexes that provide comprehensive coverage of each underlying market segment. Russell captures 72 percent of the market share for all US institutional equity products reporting a benchmark.
“Our ETF leadership drives our commitment to continually reviewing the SPDR offering to ensure it provides our clients with access to a broad range of asset classes and strategies,” said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at SSgA. “The Russell indexes are strong US equity benchmarks that are backed by a transparent, rules-based methodology that is accurate and replicable.”
The SPDR Russell 2000 ETF seeks to track the performance of the Russell 2000 Index, which measures the performance of the small-cap segment of the US equity market. The Index is a subset of the Russell 3000 Index that represents approximately 10 percent of its total market capitalization (cap) and includes approximately 2000 of the smallest securities based on a combination of market cap and current index membership. The Index is constructed to provide a comprehensive and unbiased small cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the small cap opportunity set.