Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

The First ETF Turns 20: Innovation That Leveled the Playing Field for All Investors Reaches New Milestone



  The First ETF Turns 20: Innovation That Leveled the Playing Field for All
  Investors Reaches New Milestone

State Street Global Advisors Celebrates 20th Anniversary of the SPDR^® S&P
500^® ETF

Business Wire

BOSTON -- January 29, 2013

State Street Global Advisors (SSgA), the asset management business of State
Street Corporation (NYSE: STT), today marked the twentieth anniversary of the
first exchange traded fund, the SPDR S&P 500 ETF (Symbol: SPY)^1. Launched on
January 29, 1993 with just $6.5 million in assets, the SPDR S&P 500 ETF is now
the world’s largest ETF with more than $123 billion in assets under management
and the most traded ETF with an average daily trading volume of 144 million
shares.^2

“The launch of the SPDR S&P 500 ETF in 1993 was a groundbreaking innovation
that improved access to the market for investors,” said James Ross, senior
managing director and global head of SPDR Exchange Traded Funds at SSgA. “It’s
an honor to have been a member of the team that introduced the first ETF. It’s
also tremendously rewarding to see SPY recognized as one of the most
investor-friendly innovations of our time and a major catalyst for the growth
of the ETF industry, which now includes more than 5,000 funds with nearly $2
trillion in assets globally.”

SSgA is marking this milestone with the release of SPY: The Idea That Spawned
an Industry, which explores the creation and early years of the SPDR S&P 500
ETF through interviews with key participants who conceived, tested and
initially struggled to find a market for the first ETF.

“The creation of SPY started an industry that has provided countless
institutional and individual investors with improved access to virtually all
areas of the market,” said Greg Ehret, chief operating officer at SSgA. “The
SPDR S&P 500 ETF is a core portfolio holding for a growing number of investors
because it remains true to its original goal: to provide investors large and
small with liquid, low cost, transparent^3 access to the S&P 500 Index. The
way in which various investors construct portfolios is very different today
than it was twenty years ago due in part to the SPDR S&P 500 ETF and the
industry that was created by its launch. With global ETF asset growth
averaging 27 percent per year^4, it’s clear ETFs will remain an influential
investment product for years to come.”

To download a copy of SPY: The Idea That Spawned an Industry, key information
and current performance regarding the first ETF, visit spdrs.com/firstetf.

Key Facts on the SPDR S&P 500 ETF

  * Launched on January 29, 1993, SPY was the first US-listed ETF
  * With over $123 billion in assets, SPY is the largest ETF – representing
    approximately 6.4 percent of global ETF assets^5
  * In 13 of the last 20 years, SPY has attracted more asset flows than any
    other ETF.^6 In 2012, more than $20 billion poured into SPY – representing
    11 percent of total US ETF asset inflows^7
  * With an average daily dollar volume of $19.7 billion, SPY is the most
    traded equity security in the world^8
  * SPY’s prominence in the market is propelled in part by the fund’s low
    total cost of ownership - combining a competitive expense ratio (0.945
    percent net, 0.10 percent gross), high trading volume, and competitively
    lower per share costs (as derived from tighter bid-ask spreads)
  * Over the last year, SPY accounted for 17 percent of US-listed ETF share
    volume and 38 percent of US-listed ETF dollar volume^9

State Street manages more than $340 billion in SPDR ETF assets worldwide (as
of December 31, 2012)^10 and is one of the largest ETF providers globally.

About SPDR Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and
domestic asset classes. 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 funds provide professional investors with the
flexibility to select investments that are precisely aligned to their
investment strategy. Recognized as industry pioneer, State Street created the
first US listed ETF in 1993 (SPDR S&P 500^® – Ticker SPY). Since then, we’ve
sustained our place as an industry innovator through the introduction of many
ground-breaking products, including first-to-market launches with gold,
international real estate, international fixed income and sector ETFs. For
more information, visit www.spdrs.com.

About State Street Global Advisors

State Street Global Advisors (SSgA) is a global leader in asset management.
The firm is relied on by sophisticated investors worldwide for its disciplined
investment process, powerful global investment platform and access to every
major asset class, capitalization range and style. SSgA is the asset
management business of State Street Corporation, one of the world’s leading
providers of financial services to institutional investors.

^1The SPDR S&P 500 ETF is a fund that, before expenses, generally corresponds
to the price and yield performance of the S&P 500^® index. Our approach is
designed to provide portfolios with low portfolio turnover, accurate tracking,
and lower costs

^2Source: ArcaVision, SSgA, as of 12/31/12

^3SPY trades throughout the day on exchange and is less expensive than buying
individual stocks. Holdings in the fund are available throughout the day and
can be found on spdrs.com. ^4Source: Bloomberg, L.P., Morningstar, SSgA, as of
12/31/12

^5Source: Bloomberg. L.P., as of 12/31/12

^6Source: Morningstar, SSgA, as of 12/31/2012. Past performance is not a
guarantee of future results

^7Source: Bloomberg. L.P., as of 12/31/12

^8Source: Arcavision, SSgA, as of 12/31/2012

^9Source: Arcavision, SSgA. As of 12/31/2012

^10This AUM includes the assets of the SPDR Gold Trust (approx. $72 billion as
of December 31, 2012), for which State Street Global Markets, LLC, an
affiliate of State Street Global Advisors, serves as the marketing agent.

ETFs trade like stocks, are subject to investment risk, fluctuate in market
value and may trade at prices above or below the ETFs net asset value.
Brokerage commissions and ETF expenses will reduce returns

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. ALPS
Distributors, Inc., a registered broker-dealer, is distributor for SPDRS&P500,
SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average, all unit investment
trusts, and Select Sector SPDRs. ALPS Distributors, Inc. is not affiliated
with State Street Global Markets, LLC.

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, download a prospectus or summary
prospectus

CORP-0666

SPD000538

Contact:

State Street Corporation
Alicia Curran Sweeney,  617-664-3001
or
River Communications
Troy Mayclim,  914-686-5599
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement