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SPDR S&P 1500 Momentum Tilt ETF
ETF
MMTM
Payout Change
Pending
Price as of:
$220.27
-2.15
-0.97%
primary theme
U.S. Large-Cap Growth Equity
MMTM (ETF)
SPDR S&P 1500 Momentum Tilt ETF
Payout Change
Pending
Price as of:
$220.27
-2.15
-0.97%
primary theme
U.S. Large-Cap Growth Equity
MMTM (ETF)
SPDR S&P 1500 Momentum Tilt ETF
Payout Change
Pending
Price as of:
$220.27
-2.15
-0.97%
primary theme
U.S. Large-Cap Growth Equity
Name
As of 04/17/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
9.2%
1 yr return
29.2%
3 Yr Avg Return
9.1%
5 Yr Avg Return
13.5%
Net Assets
$96.1 M
Holdings in Top 10
41.4%
52 WEEK LOW AND HIGH
$222.4
$168.60
$230.64
Expenses
OPERATING FEES
Expense Ratio 0.12%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 53.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 04/17/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
MMTM - Profile
Distributions
- YTD Total Return 9.2%
- 3 Yr Annualized Total Return 9.1%
- 5 Yr Annualized Total Return 13.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.01%
- Dividend Yield 0.8%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameSPDR S&P 1500 Momentum Tilt ETF
-
Fund Family NameState Street Global Advisors - advised funds
-
Inception DateOct 24, 2012
-
Shares Outstanding450000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Feehily
Fund Description
In seeking to track the performance of the S&P 1500 Positive Momentum Tilt Index (the “Index”), the Fund 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. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, either may invest the Fund's assets in a subset of securities in the Index or may invest the Fund's assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index, as determined by the Adviser to be in the best interest of the Fund in pursuing its objective.
Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. In addition, in seeking to track the Index, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser). In seeking to track the Index, the Fund's assets may be concentrated in an industry or group of industries, but only to the extent that the Index concentrates in a particular industry or group of industries. Futures contracts (a type of derivative instrument) may be used by the Fund in seeking performance that corresponds to the Index and in managing cash flows.
The Index applies an alternative weighting methodology to the S&P Composite 1500 Index so that stocks with relatively strong momentum are overweight relative to the S&P Composite 1500 Index and stocks with relatively weak momentum are underweight. The S&P Composite 1500 Index, one of the leading indices of the U.S. equity market, is a capitalization-weighted combination of the large-cap S&P 500 Index, the S&P MidCap 400 Index, and the S&P SmallCap 600 Index. A “momentum” style of investing emphasizes investing in securities that have had higher recent price performance compared to other securities. In constructing the Index, the Index Provider (as defined below) estimates the momentum of each stock in the S&P Composite 1500 Index based on its 11-month total return ending on the rebalancing reference date and ranks all 1,500 Index constituents in order of momentum. S&P then forms 20 sub-portfolios of approximately equal market capitalization, grouped by momentum. S&P determines each sub-portfolio allocation so that a sub-portfolio with relatively high momentum will have a higher allocation than a sub-portfolio with relatively low momentum. The weight of each stock in the Index is proportional to its market capitalization and to its sub-portfolio allocation. The Index is rebalanced quarterly, effective after the close on the third Friday of January, April, July, and October. As of August 31, 2023, a significant portion of the Fund comprised companies in the technology sector, although this may change from time to time. As of July 31, 2023, there were approximately 1,504 securities in the Index.
The Index is sponsored by S&P Dow Jones Indices LLC (the “Index Provider”), which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index.
MMTM - Performance
Return Ranking - Trailing
| Period | MMTM Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.2% | -15.5% | 20.9% | 31.48% |
| 1 Yr | 29.2% | -22.1% | 61.0% | 60.52% |
| 3 Yr | 9.1%* | -31.0% | 22.5% | 4.13% |
| 5 Yr | 13.5%* | -16.4% | 29.0% | 49.76% |
| 10 Yr | 12.5%* | -5.7% | 18.8% | 57.97% |
* Annualized
Return Ranking - Calendar
| Period | MMTM Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 20.9% | -74.1% | 72.4% | 83.66% |
| 2022 | -17.5% | -85.9% | 4.7% | 1.92% |
| 2021 | 25.0% | -52.4% | 60.5% | 5.92% |
| 2020 | 17.6% | -34.3% | 145.0% | 77.20% |
| 2019 | 27.9% | -21.8% | 49.4% | 32.98% |
Total Return Ranking - Trailing
| Period | MMTM Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.2% | -15.5% | 20.9% | 31.48% |
| 1 Yr | 29.2% | -22.1% | 61.0% | 60.52% |
| 3 Yr | 9.1%* | -31.0% | 22.5% | 4.13% |
| 5 Yr | 13.5%* | -16.4% | 29.0% | 49.76% |
| 10 Yr | 12.5%* | -5.7% | 18.8% | 57.97% |
* Annualized
Total Return Ranking - Calendar
| Period | MMTM Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 22.5% | -4.6% | 72.4% | 90.63% |
| 2022 | -16.1% | -61.7% | 5.6% | 3.32% |
| 2021 | 26.3% | -39.8% | 118.1% | 21.31% |
| 2020 | 19.3% | 2.8% | 149.2% | 94.78% |
| 2019 | 30.0% | -5.2% | 49.4% | 76.35% |
MMTM - Holdings
Concentration Analysis
| MMTM | Category Low | Category High | MMTM % Rank | |
|---|---|---|---|---|
| Net Assets | 96.1 M | 242 K | 269 B | 87.72% |
| Number of Holdings | 1455 | 1 | 3217 | 0.17% |
| Net Assets in Top 10 | 37.6 M | 104 K | 111 B | 88.52% |
| Weighting of Top 10 | 41.36% | 0.7% | 205.0% | 79.27% |
Top 10 Holdings
- Microsoft Corp 10.46%
- Apple Inc 6.06%
- NVIDIA Corp 5.41%
- Amazon.com Inc 4.23%
- Meta Platforms Inc 3.47%
- Alphabet Inc 3.10%
- Alphabet Inc 2.79%
- Broadcom Inc 2.05%
- Eli Lilly Co 1.95%
- Berkshire Hathaway Inc 1.84%
Asset Allocation
| Weighting | Return Low | Return High | MMTM % Rank | |
|---|---|---|---|---|
| Stocks | 99.84% | 0.00% | 130.05% | 10.46% |
| Cash | 0.17% | -1.50% | 173.52% | 83.21% |
| Preferred Stocks | 0.00% | 0.00% | 7.84% | 33.50% |
| Other | 0.00% | -43.49% | 50.04% | 41.01% |
| Convertible Bonds | 0.00% | 0.00% | 1.94% | 23.08% |
| Bonds | 0.00% | 0.00% | 104.15% | 26.33% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MMTM % Rank | |
|---|---|---|---|---|
| Technology | 28.55% | 0.00% | 65.70% | 74.56% |
| Healthcare | 15.79% | 0.00% | 39.76% | 21.72% |
| Financial Services | 10.86% | 0.00% | 43.06% | 34.40% |
| Energy | 8.90% | 0.00% | 41.09% | 3.80% |
| Consumer Cyclical | 8.09% | 0.00% | 62.57% | 92.22% |
| Industrials | 6.97% | 0.00% | 30.65% | 41.42% |
| Consumer Defense | 6.74% | 0.00% | 25.50% | 12.93% |
| Communication Services | 4.78% | 0.00% | 66.40% | 89.69% |
| Real Estate | 3.56% | 0.00% | 16.05% | 12.26% |
| Utilities | 3.11% | 0.00% | 16.07% | 3.97% |
| Basic Materials | 2.64% | 0.00% | 18.91% | 21.72% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MMTM % Rank | |
|---|---|---|---|---|
| US | 99.84% | 0.00% | 130.05% | 8.86% |
| Non US | 0.00% | 0.00% | 78.10% | 47.09% |
MMTM - Expenses
Operational Fees
| MMTM Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.12% | 0.01% | 19.54% | 97.55% |
| Management Fee | 0.12% | 0.00% | 1.50% | 2.80% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 1.02% | N/A |
Sales Fees
| MMTM Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 8.50% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MMTM Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| MMTM Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 53.00% | 0.00% | 316.74% | 69.56% |
MMTM - Distributions
Dividend Yield Analysis
| MMTM | Category Low | Category High | MMTM % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.85% | 0.00% | 28.10% | 24.18% |
Dividend Distribution Analysis
| MMTM | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Annual | Annual |
Net Income Ratio Analysis
| MMTM | Category Low | Category High | MMTM % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.01% | -6.13% | 3.48% | 0.95% |
Capital Gain Distribution Analysis
| MMTM | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 21, 2024 | $0.449 | OrdinaryDividend |
| Dec 21, 2023 | $0.470 | OrdinaryDividend |
| Sep 21, 2023 | $0.534 | OrdinaryDividend |
| Jun 23, 2023 | $0.661 | OrdinaryDividend |
| Mar 23, 2023 | $0.688 | OrdinaryDividend |
| Dec 22, 2022 | $0.839 | OrdinaryDividend |
| Sep 22, 2022 | $0.761 | OrdinaryDividend |
| Jun 24, 2022 | $0.657 | OrdinaryDividend |
| Mar 24, 2022 | $0.535 | OrdinaryDividend |
| Dec 23, 2021 | $0.630 | OrdinaryDividend |
| Sep 23, 2021 | $0.520 | OrdinaryDividend |
| Jun 24, 2021 | $0.416 | OrdinaryDividend |
| Mar 25, 2021 | $0.360 | OrdinaryDividend |
| Dec 24, 2020 | $0.450 | OrdinaryDividend |
| Sep 24, 2020 | $0.362 | OrdinaryDividend |
| Jun 25, 2020 | $0.489 | OrdinaryDividend |
| Mar 26, 2020 | $0.542 | OrdinaryDividend |
| Dec 27, 2019 | $0.608 | OrdinaryDividend |
| Sep 26, 2019 | $0.524 | OrdinaryDividend |
| Jun 27, 2019 | $0.537 | OrdinaryDividend |
| Mar 21, 2019 | $0.469 | OrdinaryDividend |
| Dec 28, 2018 | $0.476 | OrdinaryDividend |
| Sep 27, 2018 | $0.468 | OrdinaryDividend |
| Jun 21, 2018 | $0.428 | OrdinaryDividend |
| Mar 22, 2018 | $0.391 | OrdinaryDividend |
| Dec 26, 2017 | $0.454 | OrdinaryDividend |
| Sep 25, 2017 | $0.444 | OrdinaryDividend |
| Jun 26, 2017 | $0.427 | OrdinaryDividend |
| Mar 27, 2017 | $0.417 | OrdinaryDividend |
| Dec 27, 2016 | $0.579 | OrdinaryDividend |
| Sep 26, 2016 | $0.476 | OrdinaryDividend |
| Jun 27, 2016 | $0.433 | OrdinaryDividend |
| Mar 29, 2016 | $0.368 | OrdinaryDividend |
| Dec 29, 2015 | $0.449 | OrdinaryDividend |
| Sep 28, 2015 | $0.356 | OrdinaryDividend |
| Jun 29, 2015 | $0.360 | OrdinaryDividend |
| Mar 30, 2015 | $0.345 | OrdinaryDividend |
| Dec 30, 2014 | $0.549 | OrdinaryDividend |
| Sep 29, 2014 | $0.289 | OrdinaryDividend |
| Jun 30, 2014 | $0.272 | OrdinaryDividend |
| Mar 31, 2014 | $0.252 | OrdinaryDividend |
| Dec 31, 2013 | $0.628 | OrdinaryDividend |
| Sep 30, 2013 | $0.251 | OrdinaryDividend |
| Jul 01, 2013 | $0.277 | OrdinaryDividend |
| Mar 25, 2013 | $0.209 | OrdinaryDividend |
| Jan 04, 2013 | $0.312 | OrdinaryDividend |
MMTM - Fund Manager Analysis
Managers
Michael Feehily
Start Date
Tenure
Tenure Rank
Oct 24, 2012
9.61
9.6%
Mr. Feehily, CFA, is a Managing Director of SSGA and the Adviser and Co-Head of Passive Equity Strategies in North America in the Global Equity Beta Solutions Group. In this capacity, Mr. Feehily has oversight of the North American Passive Equity teams in Boston and Montreal. In addition, Mr. Feehily is a member of the Senior Management Group. Mr. Feehily rejoined SSgA in 2010 after spending the previous four years at State Street Global Markets LLC where he helped to build the Exposure Solutions business.
Karl Schneider
Start Date
Tenure
Tenure Rank
Oct 31, 2014
7.59
7.6%
Karl Schneider, CAIA, is a Vice President of SSGA and SSGA FM, and Head of U.S. Equity Strategies for GEBS, where in addition to overseeing the management of the U.S. equity index strategies, he also serves as a portfolio manager for a number of the group's passive equity portfolios. Previously within GEBS, he served as a portfolio manager and product specialist for synthetic beta strategies, including commodities, buy/write, and hedge fund replication. Prior to joining GEBS, Mr. Schneider worked as a portfolio manager in SSGA's Currency Management Group, managing both active currency selection and traditional passive hedging overlay portfolios. He joined SSGA in 1996. Mr. Schneider holds a BS in finance and investments from Babson College and an MS in finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation. Mr. Schneider is a member of the CAIA Association.
John Law
Start Date
Tenure
Tenure Rank
Oct 31, 2017
4.58
4.6%
John Law, CFA, Vice President and a Senior Portfolio Manager in the Global Equity Beta Solutions Group, has managed the portion of the Fund's assets allocated to SSGA FM for the Fund's Passive International Small Cap Equity Sub-strategy since 2017.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 54.45 | 8.2 | 2.92 |
