FAQ
What are SPDR® ETFs?
SPDR ETFs are investments that contain a pool of securities representing a specific index such as the S&P/ASX 50 and S&P/ASX 200. SPDRs are built like managed funds but trade like shares. SPDR ETFs trade on the Australian Securities Exchange (ASX). They are priced continually and can be bought and sold throughout the trading day. SPDR ETFs are designed to be attractive to individual and institutional investors alike, because they provide liquid, cost-efficient exposure to a broad range of assets.
How do I buy SPDR ETFs?
Units in SPDR ETFs can be bought and sold on the ASX though a stockbroker like other listed securities.
What are the distribution arrangements?
The SPDR S&P/ASX 50 ("SFY") and the SPDR S&P/ASX 200 ("STW") fund have 2 distribution periods annually, ending on 30 June and 31 December each year. The SPDR S&P/ASX 200 Listed Property Fund ("SLF") and the SPDR MSCI Australia Select High Dividend Yield Fund ("SYI") have 4 distributions annually, ending on 31 March, 30 June, 30 September and 31 December each year. In general terms, unit holders on the register of a fund at the end of a distribution period will be entitled to a pro rata share of the distributable income (if any) for that period, based on the number of units held in the fund. Distributable income includes dividends and distributions received from the fund's investments. The Constitution governing each SPDR ETF fund contains detailed rules on how distributable income and income entitlements are calculated. Distributions are paid after the end of the distribution period. Distribution periods may be varied.
Can distributions be reinvested?
SFY, STW and SYI have in place a distribution reinvestment plan.
Reinvestment plan documentation can be downloaded from this website.
Reinvestment plan documentation can be downloaded from this website.
How are franking credits handled?
SFY and STW will distribute all franking credits they receive on a semi-annual basis. SLF and SYI will distribute all franking credits they receive on a quarterly basis.
What fees and expenses are associated with SPDR ETFs?
The total annual operating fees and expenses for SFY and STW are currently capped at 0.286% pa. of the Net Asset Value of the fund, calculated and accrued on a daily basis. The total annual operating fees and expenses for SLF are currently capped at 0.40% pa. of the Net Asset Value of the fund, calculated and accrued on a daily basis. The total annual operating fees and expenses for SYI are currently capped at 0.35% pa. of the Net Asset Value of the fund, calculated and accrued on a daily basis. The cap excludes transactional fees incurred, such as brokerage and transactional fees charged by custodians and registrars. Transactional fees may therefore be charged in addition to the cap. The cap does not apply to extraordinary fees and expenses or those that were not contemplated at the date of the SPDR Product Disclosure Statement. Investors will also be liable for customary brokerage when buying, selling and redeeming units through a broker.
Transaction fees are also payable for those who use the in-kind application and redemption facility.
The SPDR ETFs Product Disclosure Statement contains further information on fees and expenses.
Transaction fees are also payable for those who use the in-kind application and redemption facility.
The SPDR ETFs Product Disclosure Statement contains further information on fees and expenses.
Are SPDR ETFs cost efficient?
SPDR ETFs are designed to be cost-efficient. As an indexed investment, they can have the advantage of being less expensive to operate and therefore typically have lower expense ratios. Expense ratios have become increasingly important to both retail and institutional investors because they have a significant impact on the portfolio's return and the investor's potential for wealth accumulation.
What is an EIN?
Estimated Intraday Net Asset Value is calculated and provided by ASX. The EIN gives an indication of the underlying fair value of the fund. For example, for SPDR S&P/ASX 200 ticker STW use YSTW to see the EIN value during trading hours.
