Launch of State Street^® SPDR^® Portfolio Ultra Short T-Bill ETF (SPTU) Provides Investors with Low-Cost Access to Treasurys that Mature in a Year or Less

State Street Investment Management today announced the expansion of its low-cost State Street^® SPDR^® Portfolio ETF Suite with the launch of the State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The new fund offers investors access to the shorter end of the yield curve by providing exposure to US Treasury bills that have a remaining maturity greater than or equal to 1 month and less than 12 months. Priced at just five basis points, SPTU is one of the lowest-cost ETFs in the ultra-short Treasury bond fund category.¹

With the addition of the State Street SPDR Portfolio Ultra Short T-Bill ETF, which seeks to track the performance of the ICE BofA US Treasury Bill Index, the State Street SPDR Portfolio US Treasury suite provides investors with exposure to a full spectrum of maturities across the yield curve. Funds in the low-cost State Street SPDR Portfolio Treasury suite include SPDR Portfolio Short Term Treasury ETF (SPTS), SPDR Portfolio Intermediate Term Treasury ETF (SPTI), SPDR Portfolio Long Term Treasury ETF (SPTL), and SPDR Portfolio Treasury ETF (SPTB).

“Whether it’s in response to changes in Federal Reserve policy, inflation expectations, economic forecasts, or liquidity needs, ETFs allow investors to fine-tune their fixed income allocations,” said Anna Paglia, chief business officer for State Street Investment Management. “The launch of SPTU provides clients with a low-cost, ultra-short term Treasury option designed to help them meet their income generation and risk mitigation goals and may serve as a flexible and efficient funding solution for some institutional investors, including as a potential collateral tool for certain derivatives market participants.”

Introduced in 2017 and with offerings priced as low as two basis points, the State Street SPDR Portfolio ETF suite is designed to provide investors with greater choice in low-cost ETFs. The suite provides exposure to US equity, international equity, and fixed income asset classes designed to help investors build a diversified core portfolio of stocks and bonds while keeping more of what they earn. Widely embraced by investors, State Street SPDR Portfolio ETFs have amassed more than $323 billion in assets.²

SPTU may serve as a cost-effective collateral tool for market participants. The fund is intended to qualify as a permitted investment by futures commission merchants (FCMs) and derivatives clearing organizations (DCOs) under CFTC Reg 1.25, as amended, and as eligible margin collateral for uncleared swaps transactions.^3,4

About State Street Investment Management

At State Street Investment Management, we have been helping to deliver better outcomes to institutions, financial intermediaries, and investors for nearly half a century. Starting with our early innovations in indexing and ETFs, our rigorous approach continues to be driven by market-tested expertise and a relentless commitment to those we serve. With over $5 trillion in assets managed^*, clients in over 60 countries, and a global network of strategic partners, we use our scale to create a comprehensive and cost-effective suite of investment solutions that help investors get wherever they want to go. State Street Investment Management is the asset management business of State Street Corporation (NYSE: STT).

Important Risk Information

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Market Risk: The Fund’s investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investing in markets. Investment markets can be volatile and prices of investments can change substantially due to various factors including, but not limited to, economic growth or recession, changes in interest rates, inflation, changes in the actual or perceived creditworthiness of issuers, and general market liquidity. The Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, or other events could have a significant impact on the Fund and its investments.

Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates rise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

US Treasury obligations may differ from other fixed income securities in their interest rates, maturities, times of issuance and other characteristics. Similar to other issuers, changes to the financial condition or credit rating of the U.S. government may cause the value of the Fund's U.S. Treasury obligations to decline.

Passively managed funds invest by sampling the index, holding a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index. While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.

Intellectual Property Information: The S&P 500^® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“S&P DJI”) and have been licensed for use by State Street Global Advisors. S&P^®, SPDR^®, S&P 500^®,US 500 and the 500 are trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and has been licensed for use by S&P Dow Jones Indices; and these trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by State Street Global Advisors. The fund is not sponsored, endorsed, sold or promoted by S&P DJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of these indices.

Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect 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.

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