State Street Global Advisors reduces fees on two fixed income SPDR Portfolio ETFs
State Street Global Advisors (SSGA), the asset management business of State Street Corporation has reduced the expense ratio reductions for the SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and SPDR Portfolio High Yield Bond ETF (SPHY), from 0.06 per cent to 0.04 per cent, and 0.15 per cent to 0.10 per cent, respectively.
“We are always reviewing our low-cost suite of SPDR Portfolio ETFs for opportunities to reduce the total cost of ownership for investors,” says Noel Archard, global head of SPDR Product at State Street Global Advisors. “Designed to help clients build a strong, low cost core, SPDR Portfolio ETFs have attracted more than USD65 billion of asset flows since debuting less than four years ago1, which is a testament to the suite’s compelling value.”
With today’s expense ratio reductions, SSGA says SPMB and SPHY are the lowest cost mortgage-backed and high yield bond ETF offerings, respectively.