SPDR S&P Dividend ETF revises investment strategy in prospectus

By Tali David

Minneapolis, March 14 - SPDR Series Trust announced some changes to the principal investment strategy in the prospectus for the SPDR S&P Dividend ETF, according to a 497 filed with the Securities and Exchange Commission.

In seeking to track the performance of the S&P High Yield Dividend Aristocrats Index, the fund now employs a sampling strategy, which means that the fund is not required to purchase all of the securities represented in the index.

Instead, the fund may purchase a subset of the securities in the index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the index.

Previously, it employed a replication strategy, which means that the fund typically invested in substantially all of the securities represented in the index in approximately the same proportions as the index.

The funds' investment adviser is Boston-based SSgA Funds Management, Inc.

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