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State Street Global Advisors changes index for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF

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State Street Global Advisors has  announced a change to the benchmark of the SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (Symbol: TFI). The fund’s name, ticker symbol and annual expense ratio remain unchanged and no action is required by shareholders.

As of 2 January, 2019, the fund will switch from the Bloomberg Barclays Municipal Managed Money Index to the Bloomberg Barclays Municipal Managed Money 1-25 Years Index.

“Adding a 25-year maturity cap to the existing index methodology tailors the exposure for more precise access to intermediate-term segment of the muni market,” says Matthew Bartolini, Head of SPDR Americas Research. “The duration profile will now be more in line with what clients consider intermediate, all the while still retaining the broad access to the muni-market clients have enjoyed, acting as a core muni position and complementing the other options in our suite, the SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and the SPDR Nuveen S&P High Yield Municipal Bond ETF (HYMB).”

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