Press Release

State Street Cuts Fees on 6 SPDR ETFs, Including its Flagship ETF and Smart Beta Range

Fee reduction on 67% of its SPDR Australia AUM
Investors can now build a strong core for even less

1 November 2023

SYDNEY, 1 November 2023: – State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced substantial management cost reductions on six of its Australian-based SPDR® exchange traded funds (ETFs).

Effective November 1, 2023, the management costs of the following six ETFs have been lowered as follows:

Ticker	Name	Management Costs (% p.a.)
Ticker	Name	Previous	New
Australian Equities ETFs
STW	SPDR® S&P®/ASX 200 Fund	0.13	0.05
E200	SPDR® S&P®/ASX 200 ESG Fund	0.13	0.05
SYI	SPDR® MSCI Australia Select High Dividend Yield Fund	0.35	0.20
International Equities ETFs
WDIV	SPDR® S&P® Global Dividend Fund	0.50	0.35
QMIX	SPDR® MSCI World Quality Mix Fund	0.40	0.18
Fixed Income ETFs
GOVT	SPDR® S&P®/ASX Australian Government Bond Fund	0.22	0.10

“We are excited to be able to offer investors some of the most cost-effective ETF offerings in their respective peer groups,” said Kathleen Gallagher, Head of SPDR ETFs Australia at State Street Global Advisors.

“These ETFs include a broad range of asset classes and investment styles which help investors build resilient and diversified portfolios, while also limiting the impact fees can have on long term performance.”

State Street Global Advisors has 17 ETFs available on the Australian Securities Exchange (ASX), and last year made separate price reductions on four of its other ETFs as part of its regular review of its range.

Included in today’s announcement is State Streets’ flagship Australian ETF, the SPDR® S&P®/ASX 200 Fund (STW). This ETF will have its fee cut by more than 60%, from 13 to 5 basis points (bps). The fund has $4.6 billion in assets under management (AUM) making it the largest ASX 200 ETF in Australia.¹

State Street Global Advisors has also reduced the fees on its smart beta range to make its two dividend ETFs (SYI and WDIV) and its multi factor ETF (QMIX) some of the lowest cost among its peers.

“These fee changes demonstrate our commitment to the democratisation of investing by delivering cost effective institutional quality investment solutions to investors” Ms Gallagher said.

“For investors, these changes now mean they could now pay as little as $5 per annum in management costs on an account balance of $10,000 for Australian equities,$10 per annum for Australian government fixed income and as little as $18 for factor based investing in international equities”.

“Additionally, investors can now access the State Street ETF Model Portfolios, packaged diversified investments solutions that invest in a number of asset classes, at an average weighted cost as low as 14bps.²”

Ms Gallagher said that while today’s announcement was exciting, there were other components that investors should consider when selecting ETFs.

“Educating investors and advisers on what to consider when choosing an ETF, such as a provider’s track record, the total cost of ownership and what’s under the hood, remain a key priority for State Street Global Advisors,” she said.

“Today’s announcement makes investing in ETFs even more affordable, especially for newer investors who are just getting started along with those using ETFs to build a core portfolio. As the core is typically the largest part of a portfolio, it is important to use cost-effective solutions over the long term”.

“Research has long shown that asset allocation decisions explain more than 90% of the variance in portfolio returns.³

“Simply put, it all starts with asset allocation. And today’s uncertainty makes building a cost-effective diversified core more important than ever, as costs accumulate over time, eroding a portfolio’s total return.”

Earlier this year State Street Global Advisors marked the 30th anniversary of the first ever US-listed ETF. Launched on January 22, 1993, on the New York Stock Exchange (NYSE), the SPDR S&P 500 ETF Trust was later listed on the ASX on October 13, 2014 (represented by CHESS Depository Interests), providing Australian investors with access to the world’s largest economy.

State Street Global Advisors initially brought ETFs to Australia in 2001, with the launch of the SPDR® S&P®/ASX 200 Fund (STW) and the SPDR® S&P®/ASX 50 Fund (SFY).

Click here for the complete lineup of SPDR ETFs.

Footnotes

Disclosure

Issued by State Street Global Advisors, Australia Services Limited (AFSL Number 274900, ABN 16 108 671 441) ("SSGA, ASL"). Registered office: Level 14, 420 George Street, Sydney, NSW 2000, Australia · Telephone: 612 9240-7600 · Web: www.ssga.com/au.

State Street Global Advisors, Australia Services Limited (AFSL number 274900 ABN 16 108 671 441) (“SSGA, ASL”) is the Responsible Entity and issuer of units in the State Street SPDR ETFs which are Australian Registered managed investment schemes quoted on the AQUA market of the ASX or listed on the ASX.

SSGA, ASL is the AQUA Product Issuer for the CHESS Depositary Interests (or "CDIs") created over Interests in SPY which were first quoted on the AQUA market of the ASX on 13 Oct 2014. State Street Global Advisors Trust Company (ARBN 619 273 817) is the trustee of, and the issuer of interests in, the SPDR® S&P 500® ETF Trust, an ETF registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940 and principally listed and traded on NYSE Arca, Inc. under the symbol "SPY".

SSGA, AL is the investment manager for the State Street ETF Model Portfolios which include State Street SPDR ETFs and other third party ETFs. State Street does not manage the accounts of retail investors pursuant to the model portfolio strategies and the strategies are only available to retailinvestors through various Providers that offer account management and other services to retail investors.

This material is general information only and does not take into account your individual objectives, financial situation or needs and you should consider whether it is appropriate for you. You should seek professional advice and consider the product disclosure statement and target market determination, available at www.ssga.com/au, before deciding whether to acquire or continue to hold units in an ETF. This material should not be considered a solicitation to buy or sell a security.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF's net asset value. ETFs typically invest by sampling an 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 involves risk including the risk of loss of principal. Diversification does not ensure a profit or guarantee against loss.

SPDR®, Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC, Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC, ASX® is a registered trademark of the ASX Operations Pty Ltd, these trademarks have been licensed for use by S&P Dow Jones Indices LLC and sub-licensed for use to State Street Global Advisors, ASL. MSCI indexes are the exclusive property of MSCI Inc.(“MSCI”). MSCI and the MSCI index names are service mark(s) of MSCI or its affiliates and have been licensed for use for certain purposes by State Street. SPDR products are not sponsored, endorsed, sold or promoted by any of these entities and none of these entities bear any liability with respect to the ETFs or make any representation, warranty or condition regarding the advisability of buying, selling or holding units in the ETFs issued by State Street Global Advisors, ASL.

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, ASL’s express written consent.

6000180.1.1.ANZ.RTL Exp. Date: 30/11/2024