Title: State Street SPDR Commodity GBP Hdg UCITS ETF (Acc)

URL Source: https://docs.oppl.io/etf/IE000M8NCUC9_23-04-2026.pdf?apiKey=b9934aa2-1a83-4286-b11b-c8415da9e581

Published Time: Sun, 24 May 2026 09:15:23 GMT

Number of Pages: 2

Markdown Content:
This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Terms not defined herein are as defined in the Prospectus. 

# State Street SPDR Commodity UCITS ETF (the "Fund") , a sub-fund of SSGA SPDR ETFs Europe II plc (a UCITS authorised Exchange Traded Fund). This Fund is managed by State Street Global Advisors Europe Limited. 

Share Class: State Street SPDR Commodity GBP Hdg UCITS ETF (Acc) (ISIN IE000M8NCUC9) 

# Objectives and Investment Policy 

Investment Objective The investment objective of the Fund is to reflect the total return performance of the broad commodity market. The Fund is an index tracking fund (also known as a passively managed fund). 

Investment Policy The Fund seeks to replicate the performance of the Dow Jones Commodity Index 3 Month Forward - Quarterly Reweight GBP Hedged ("the Index"). The Fund does not invest directly in physical commodities or commodity futures contracts. Instead, it utilises a synthetic replication strategy through the use of financial derivative instruments, specifically unfunded total return swaps ("TRS"), to gain exposure to the Index. These swaps are agreements with approved counterparties to exchange the performance of the Index for a market-based rate of return. The Fund's remaining assets are invested in money market instruments which serve as collateral for the TRS as further outlined in the Supplement The Index is a broad measure of the commodity futures market, containing 29 commodity future contracts equally weighted across three major sectors: energy, metals, agriculture and livestock. The Index is rebalanced quarterly, and its constituents are selected annually using a rules-based selection process as further outlined in the Supplement. Exposure to a single commodity is limited to 20% of the NAV of the Fund, or up to 35% in exceptional market conditions in line with UCITS guidelines. In exceptional circumstances, in accordance with UCITS guidelines, the Fund may also have exposure to securities not included in the Index, but which closely reflect the risk and distribution characteristics of the constituents of the Index. The Shares of the GBP Class are issued in Pound Sterling. Shareholders may redeem shares on any UK business day (other than days on which relevant financial markets are closed for business and/or the day preceding any such day provided that a list of such closed market days will be published for the Fund on www.ssga.com); and any other day at the Directors' discretion (acting reasonably) provided Shareholders are notified in advance of any such days. Any income earned by the Fund will be retained and reflected in an increase in the value of the shares. 

Index Source: "Dow Jones," and the Index are service marks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by State Street Investment Management. The Fund is not sponsored, endorsed, sold or promoted by Dow Jones and Dow Jones makes no representation regarding the advisability of investing in such product(s). Please see the Prospectus for the full index disclaimer. Please refer to the Prospectus for more information. 

# Risk and Reward Profile 

Lower risk Higher risk 

Potentially lower reward Potentially higher reward 

1 2 3 4 5 6 7Risk Disclaimer The risk category above is not a measure of capital loss or gains but of how significant the rises and falls in the Fund's return have been historically. For example a fund whose return has experienced significant rises and falls will be in a higher risk category, whereas a fund whose return has experienced less significant rises and falls will be in a lower risk category. The lowest category (i.e., category 1) does not mean that a fund is a risk free investment. As the Fund's risk category has been calculated using historical simulated proxy data, it may not be a reliable indication of the Fund's future risk profile. The Fund's risk category shown is not guaranteed and may change in the future. 

Why is this Fund in this category? The Fund is in risk category 6 as its return has experienced very high rises and falls historically. The following are material risks relevant to the Fund which are not adequately captured by the risk category. 

Exposure to a Synthetic Commodity Index: The Fund provides exposure to an Index comprising commodity futures contracts rather than physical commodities resulting in the Fund's performance being reflective of the performance of these contracts not the actual commodities. The Index replaces expiring contracts into new ones, and if longer-dated contracts are more expensive, this may result in a negative roll yield, which may reduce the Index's value over time even if commodity prices are stable or rising. The Index is constructed on the basis of "notional" exposures to the constituents. Accordingly, there is no actual portfolio of assets within the Index to which any person is entitled or has any ownership interest. The Index merely tracks the performance of exposures to the constituents and is used as a reference point for the purposes of calculating the Index level. Consequently, investors in the Fund will not have any claim against any of the constituents, as well as their underlying components, referenced by the Index. 

Commodity Risk: Commodity prices generally tend to be more volatile than those of other asset classes making investments in commodities riskier and more complex than others. Commodity prices, can fluctuate significantly due to certain variables including weather, location and political situation, regulatory, legal and tax changes and economic developments such as exchange and interest rates and inflation. 

Currency Hedging Risk: Hedges are sometimes subject to imperfect matching between the hedging transaction and the risk sought to be hedged. There can be no assurance that the Fund's hedging transactions will be effective. As the purpose of currency hedging is to try to reduce or eliminate losses caused by exchange rate fluctuations, it can also reduce or eliminate gains where the currency in which the Fund's assets are denominated appreciates. 

Index Tracking Risk: The Fund's performance may not exactly track the Index. This can result from market fluctuations, changes in the composition of the Index, transaction costs, the costs of making changes to the Fund's portfolio and other Fund expenses. 

Liquidity Risk & ETF Liquidity Risk: Lack of a ready market or resale restrictions may limit the Fund's ability to sell a security at an advantageous time or price or at all. Illiquid securities may trade at a discount and may affect the ability to meet redemptions on a timely basis. Where the Fund invests in illiquid securities or does not trade in large volumes, the bid offer spreads may widen, the Fund may be exposed to increased valuation risk and reduced ability to trade. Shares in the Fund may also trade at prices materially different to the last available NAV. 

Counterparty Risk: The Fund will be subject to credit risk with respect to the counterparties with which it enters into derivatives contracts and other transactions. There is a risk that these institutions may not be able to perform their obligations. This could reduce the value of the Fund's investments. 

Credit Risk: The value of debt securities that the Fund purchases may be impacted by the ability of the issuer of those securities to pay the amounts of interest and principal owed as they become due. If there is a 

# Key Investor Information negative perception of the issuer's ability to meet its payment obligations, the value of the debt security may decrease. 

Share Class Risk: There is no segregation of liabilities between Classes of the Fund. While the Investment Manager and/or Sub-Investment Manager will seek to ensure that gains/losses on and the costs of the relevant FDI associated with any currency hedging strategy will accrue solely to the Class for which it is intended, the transactions could result in liabilities for other Classes. Please refer to the Prospectus for full details about the risks associated with this Fund. 

# Charges 

The charges you pay are used to pay the cost of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. 

One-off charges taken before or after you invest 

Entry charge none Exit charge none This is the maximum that might be taken out of your money before it is invested (entry charge) or before the proceeds of your investment are paid out (exit charge). 

Charges taken from the Fund over a year 

Ongoing charge 0.17% 

Charges taken from the Fund under certain specific conditions 

Performance fee none The entry and exit charges shown are maximum figures. In some cases, you may pay less — your financial advisor or distributor can confirm this. Entry and exit charges do not apply to investors buying or selling shares of the Fund on stock exchanges; however, such investors will transact at market prices and may be subject to broker fees and/or other charges. The ongoing charges figure shown is an estimate of the charges. It excludes:  

> b

Portfolio transaction costs, except when the Fund pays an entry or exit charge when buying or selling units in another fund. For more information about charges, please refer to the Prospectus. 

# Past Performance 

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The Share Class does not yet have sufficient data to provide a useful indication of past performance to investors. 2021 2022 2023 2024 2025 Past performance is not a guide to future results. The Fund has not yet launched. 

# Practical Information 

Depositary State Street Custodial Services (Ireland) Limited. 

Further Information Copies of the prospectus, its supplements (if any), details of the Fund's portfolio and the latest annual and semi-annual reports prepared for SSGA SPDR ETFs Europe II plc may be obtained, free of charge, from the Administrator or online at www.ssga.com. These documents are available in English. For information about other share classes, please refer to the website. 

ETF Information As the shares are listed on the stock exchange, you may buy or sell shares in the product, without penalty, on any normal business day. Please contact your broker, financial adviser or distributor for information on any costs and charges relating to the sale of the shares. ETF Shares purchased on the secondary market cannot usually be sold directly back to the Company. In exceptional circumstances, whether as a result of disruptions in the secondary market or otherwise, investors who have acquired ETF Shares on the secondary market are entitled to apply to the Company in writing to have the ETF Shares in question registered in their own name, to enable them to access the redemption facilities described in the Prospectus. 

Remuneration Policy Details of the up to date remuneration policy of SSGA SPDR ETFs Europe II plc are available from www.ssga.com. Paper copies are available free of charge on request. 

Net Asset Valuation Publication The net asset value and indicative net asset value per share is available at www.ssga.com and upon request from the Administrator. Additionally the indicative net asset value is available via Bloomberg, Telekurs and Reuters terminals. 

Tax Legislation The Fund is subject to the tax laws and regulations of Ireland. Depending on your own country of residence this might have an impact on your investments. For further details, you should consult a tax advisor. 

Liability Statement State Street Global Advisors Europe Limited may be held liable for any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus. 

Switching between Sub-Funds Shareholders have no specific right to convert shares of the Fund into shares of another sub-fund of SSGA SPDR ETFs Europe II plc. Conversion can only be effected by the investor selling/redeeming the shares of the sub-fund and buying/ subscribing shares of another sub-fund of SSGA SPDR ETFs Europe II plc. Detailed information on how to switch between sub-funds is provided in the Prospectus. 

Segregation of Assets and Liabilities SSGA SPDR ETFs Europe II plc has segregated liability between its sub-funds. As a consequence, the assets of the Fund should not be available to pay the debts of any other sub-fund of SSGA SPDR ETFs Europe II plc. 

This Fund is authorised in Ireland and regulated by the Central Bank of Ireland. State Street Global Advisors Europe Limited is a Company approved by the Central Bank of Ireland, under no. 49934. This key investor information is accurate as at 23 April 2026. 

# Key Investor Information