How low can you go? In the case of State Street Global Advisors, the answer is 0.03 percent.
SSGA, the asset management arm of State Street Corporation, on Monday debuted its SPDR Portfolio ETFs, a roster of 15 ultra-low-cost ETFs comprising both equity and fixed-income offerings that are refashioned versions of existing SPDR funds that total more than $11 billion in assets.
As of October 16, the following funds in this suite will trade under news names and ticker symbols, as well as come with much lower expense ratios. According to State Street, these changes will require no action on the part of shareholders:
• SPDR Russell 3000 ETF (THRK) at 0.10% is now SPDR Portfolio Total Stock Market ETF (SPTM) at 0.03%
• SPDR Russell 1000 ETF (ONEK) at 0.10% is now SPDR Portfolio Large Cap ETF (SPLG) at 0.03%
• SPDR S&P 1000 ETF (SMD at 0.10% is now SPDR Portfolio Mid Cap ETF (SPMD) at 0.05%
• SPDR Russell 2000 ETF (TWOK) at 0.10% is now SPDR Portfolio Small Cap ETF (SPSM) at 0.05%
• SPDR S&P 500 Growth ETF (SPYG) at 0.15% is now SPDR Portfolio S&P 500 Growth ETF (SPYG) at 0.04%
•SPDR S&P 500 Value ETF (SPYV) at 0.15% is now SPDR Portfolio S&P 500 Value ETF (SPYV) at 0.04%
• SPDR S&P 500 High Dividend ETF (SPYD) at 0.12% is now SPDR Portfolio S&P 500 High Dividend ETF (SPYD) at 0.07%