|
SPDR Nuveen Barclays Short Term Municipal Bond ETF
Ticker Symbol: SHM CUSIP: 78464A425 Exchange: NYSEA
Company's Online Profile
FUND DESCRIPTION: SPDR Nuveen Barclays Short Term Municipal Bond ETF is an exchange-traded index fund or Index ETF that is a separate investment portfolio of the SPDR Series Trust, an open-end management investment company. INVESTMENT OBJECTIVE: The SPDR Nuveen Barclays Short Term Municipal Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Managed Money Municipal Short Term Index. INDEX DESCRIPTION: The Barclays Managed Money Municipal Short Term Index is designed to track the publicly traded municipal bonds that cover the U.S. dollar denominated short term tax exempt bond market, including state and local general obligation bonds, revenue bonds, pre-refunded bonds and insured bonds. A general obligation bond is secured by the full faith and credit of its issuer. A revenue bond is payable from a specific source of revenue. A pre-refunded bond is a revenue bond that the issuer has allocated funds to fully retire. An insured bond is protected from issuer default or rating downgrade by an insurance company. The Index is a rules-based, market-value weighted index. All bonds in the Index must be rated Aa3/AA- or higher by at least two of the following statistical ratings agencies: Moody's Investors Service, Inc., Standard & Poor's or Fitch Inc. If only two of the three agencies rate the security, the lower rating is used to determine index eligibility. If only one of the agencies rates the security, the rating must be at least Aa3/AA-. Each Index security must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate and have a nominal maturity of one to five years. No issuer may constitute more than 10% of the Index. Bonds subject to alternative minimum tax, hospital bonds, housing bonds, tobacco bonds, and airline bonds, along with remarketed issues, taxable municipal bonds, floaters, and derivatives are all excluded from the Index. As of September 30, 2010, there were approximately 3,337 securities in the Index and the modified adjusted duration of securities in the Index was approximately 2.93 years. FUND STRATEGY: The Fund will normally invest at least 80% of its total assets in fixed income securities that comprise the Index. The Fund, using an indexing investment approach, seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Index. A sampling methodology is used in seeking to achieve the Fund's investment objective. Sampling means that the Adviser uses quantitative analysis to select municipal bonds and other securities that represent a sample of securities in the Index that have a similar investment profile as the relevant Index in terms of key risk factors, performance attributes and other characteristics. It is generally expected that the Fund will hold less than the total number of securities in the Index. The Fund may sell securities that are represented in the Index, or purchase securities that are not yet represented in the Index, in anticipation of their removal from or addition to the Index. Further, the Adviser may choose to overweight securities, purchase or sell securities not in the Index, or utilize various combinations of other available investment techniques, in seeking to track the Index. The Fund may also invest its other assets in securities not included the Index, but which is believed will help the Fund track the Index, as well as in certain futures, options, swap contracts and other derivatives, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including affiliated money market funds). FUND MANAGEMENT: SSgA Funds Management, Inc. serves as the investment adviser to the Fund and, subject to the supervision of the Board, is responsible for the investment management of the Fund and it's assets.
|
IPO - 10/10/2007 -
Link to IPO Prospectus
Previous Name: SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF Changed: 10/31/2012
Large Cap Stock -
Market Value $1.3 Billion
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Lincoln Street, Boston, MA 02111 |
| Main Phone Number |
866-787-2257 |
| Fax Number |
Not Available |
| Investor Contact
|
866-787-2257
|
| Toll Free Phone Number |
866-787-2257 |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
