State Street Global Advisors Launches Gender Diversity ETF to Help Investors Seek a Return on Gender Diversity

SPDR® SSGA Gender Diversity ETF (Ticker: SHE) Invests in Index of Companies with Higher Levels of Gender Diversity in Senior Leadership and Offers Core US Large Cap Exposure

BOSTON--()--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), announced that the SPDR® SSGA Gender Diversity Index ETF (Ticker: SHE) will begin trading tomorrow on the NYSE Arca. SHE seeks to track the performance of the SSGA Gender Diversity Index, which comprises listed US large capitalization companies with the highest levels within their sectors of gender diversity on their boards of directors and in their senior leadership.

“SHE seeks to help address gender inequality in corporate America by offering investors an opportunity to create change with capital and seek a return on gender diversity,” said Kristi Mitchem, executive vice president and head of the Americas Institutional Client Group for SSGA. “This fund empowers investors to encourage more gender diverse leadership and support better long-term social and economic outcomes in support of gender diversity.”

According to a 2015 MSCI1 study that explored global trends in gender diversity on corporate boards between December 2009 and August 2015, companies with at least three female board members outperformed others in overall return on equity by more than 36 percent.2 Despite these findings, American women account for an average of just 16 percent of the members of executive teams.3

SSGA was inspired to develop the Index by the California State Teachers’ Retirement System’s (CalSTRS) efforts to move the needle on gender diversity in corporate America, especially for women in leadership positions.

To help strengthen third-party charitable organizations committed to enhancing gender diversity, SSGA will direct a portion of its revenue to nonprofit organizations that help develop girls as leaders in business and science.

“Closing the gender gap requires strengthening gender diversity and inclusion practices across corporate America,” said Alison Quirk, chief global human resources and corporate citizenship officer at State Street. “We believe that the root causes of biases that influence women being underrepresented at the most senior levels of executive and board leadership develop at an early age. We want to empower girls to take their place in business leadership, especially in science, technology, engineering and math (STEM) industries that will be in high demand for the next 10 to 20 years. By paying it forward through the charitable contribution, we can build a better future.”

“SHE is designed to offer investors an opportunity to access the potential benefits of gender diverse leadership and seek to drive meaningful social change while maintaining core US large cap exposure,” said James Ross, executive vice president and global head of SPDR Exchange Traded Funds at SSGA. “As the first SPDR ETF to use a proprietary SSGA Index, SHE highlights a path for future innovative products that improve access to unique solutions for investors.”

Select Characteristics of SPDR SSGA Gender Diversity Index ETF (Ticker: SHE):

  • SHE is comprised of approximately 144 stocks from the largest 1,000 listed companies in the US, based on the presence of women at the CEO, board or senior leadership levels, and seeks to minimize divergent sector weights versus the 1,000 largest listed US companies with the goal of isolating gender diversity as the primary factor exposure.
  • SHE is a US large cap core ETF that features a diversified portfolio of 144 stocks across all US sectors as of February 29, 2016.
  • SHE’s expense ratio is 0.20%.

About SPDR Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit

About State Street Global Advisors

For nearly four decades, State Street Global Advisors has been committed to helping financial professionals and those who rely on them achieve their investment objectives. We partner with institutions and financial professionals to help them reach their goals through a rigorous, research-driven process spanning both active and index disciplines. We take pride in working closely with our clients to develop precise investment strategies, including our pioneering family of SPDR ETFs. With trillions* in assets under management, our scale and global footprint provide unrivaled access to markets and asset classes, and allow us to deliver expert insights and investment solutions.

State Street Global Advisors is the investment management arm of State Street Corporation.

*Assets under management were $2.24 trillion as of December 31, 2015. AUM reflects approx. $22.0 billion (as of December 31, 2015) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.

CalSTRS does not endorse any particular investment product or service.

Important Risk Information:

Concentrated investments in a particular industry or sector may be more vulnerable to adverse changes in that industry or sector.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions.

Gender diversity risk: The returns on a portfolio of securities that excludes companies that are not gender diverse may trail the returns on a portfolio of securities that includes companies that are not gender diverse.

Non-diversified funds that focus on a relatively small number of issuers tend to be more volatile than diversified funds and the market as a whole.

Passively managed funds hold 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 error relative to performance of the index.

Diversification does not ensure a profit or guarantee against loss.

Standard & Poor’s®, S&P® and SPDR® are registered 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 these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a 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.

Before investing, consider the fund’s investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit Read it carefully.

Not FDIC Insured * No Bank Guarantee * May Lose Value


1 The methodology used in MSCI’s study is different than that of the Index, and as such, the results of the study should not be viewed as indicative of the future performance of the Index or SHE.

2 Return on equity is not representative of the performance of any investment or the potential return of any ETF.

3 Lee, Linda-Eling, et al. Women on Boards: Global Trends in Gender Diversity on Corporate Boards, MSCI, November 2015. Accessed on February 17th, 2016 at:


State Street Corporation
Anne Mcnally, +1 617-664-8576


State Street Corporation
Anne Mcnally, +1 617-664-8576