State Street Cuts ETF Fees, Adds To ‘Portfolio’

Today State Street Global Advisors announced it has rebranded seven of its existing funds to include them in their family of low-cost core ETFs, known as the “Portfolio” ETFs.

Seven funds were given new names, tickers and, in some cases, expense ratios. This brings the total number of ETFs in the SPDR Portfolio family to 22. Changes take effect Monday, Sept. 23.

The affected funds are shown in the below table:

The fee reductions range from 0 to 20 basis points in size, with the largest for the SPDR Portfolio ETF (SPEU), which will also change its index. SPEU originally tracked the STOXX Europe 50 Index while trading under the ticker FEU (SPDR STOXX Europe 50 ETF). Starting Monday, it will track the STOXX Europe Total Market Index, which covers 95% of the free float market capitalization of 17 European countries, according to State Street.

State Street first rolled out its “Portfolio family” in October 2017 with 15 of its existing ETFs. The seven funds added today represent $3.4 billion in assets under management.

Contact Heather Bell at [email protected]