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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Rating
Sector Rating
Recommendation *
Avoid
Neutral
Fair
Quality
Rating Breakdown
Avg.
Relative Strength
The relative strength of a dividend stock indicates whether the stock is uptrending or not. The major determining factor in this rating is whether the stock is trading close to its 52-week-high.
Overall Yield Attractiveness
If a stock’s yield is above or near the market average then it will be rated higher within this parameter. High dividend yields (usually over 10%) should be considered extremely risky, while low dividend yields (1% or less) are simply not very beneficial to long-term investors.
Dividend Reliability
A stock’s dividend reliability is determined by a healthy payout ratio that is higher than other stocks. A company that pays out close to half its earnings as dividends and retains the other half of earnings has ample room to grow its business and pay out more dividends in the future.
Dividend Uptrend
A stock’s Dividend Uptrend rating is dependent on the company’s price-to-earnings (P/E) ratio to evaluate whether or not a stock’s dividend is likely to trend upward. If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase.
Earnings Growth
A stock’s Earnings Growth rating evaluates a company’s expected EPS for the current financial year and compares it to next financial year’s expected EPS. Stocks with single-digit growth estimates will have a higher rating than others, as our research has shown that well-established dividend-paying companies have modest earnings growth estimates.
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SPDR® SSGA Fixed Income Sector Rotation ETF
Active ETF
FISR
Payout Change
Pending
Price as of:
$26.21
-0.13
-0.49%
primary theme
U.S. Intermediate-Term Bond Duration
FISR (ETF)
SPDR® SSGA Fixed Income Sector Rotation ETF
Payout Change
Pending
Price as of:
$26.21
-0.13
-0.49%
primary theme
U.S. Intermediate-Term Bond Duration
FISR (ETF)
SPDR® SSGA Fixed Income Sector Rotation ETF
Payout Change
Pending
Price as of:
$26.21
-0.13
-0.49%
primary theme
U.S. Intermediate-Term Bond Duration
Name
Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.9%
1 yr return
-7.0%
3 Yr Avg Return
-1.9%
5 Yr Avg Return
N/A
Net Assets
$109 M
Holdings in Top 10
100.0%
52 WEEK LOW AND HIGH
$26.3
$24.80
$28.85
Expenses
OPERATING FEES
Expense Ratio 0.50%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 79.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FISR - Profile
Distributions
- YTD Total Return 2.9%
- 3 Yr Annualized Total Return -1.9%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.99%
- Dividend Yield 2.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSPDR® SSGA Fixed Income Sector Rotation ETF
-
Fund Family NameSPDR State Street Global Advisors
-
Inception DateApr 02, 2019
-
Shares Outstanding3960000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJeremiah Holly
Fund Description
The Fund is a “fund of funds,” meaning that it primarily invests its assets in securities of other exchange-traded funds (“ETFs”). In particular, the Fund allocates its assets among ETFs that each focus on one or more of the following sectors of the fixed income market: (i) securities issued or guaranteed by the U.S. government or its agencies, instrumentalities or sponsored corporations; (ii) inflation protected public obligations of the U.S. Treasury; (iii) U.S. corporate securities; (iv) U.S. mortgage-backed securities; (v) high yield securities (commonly known as “junk” bonds); (vi) international government and corporate securities, including emerging markets; (vii) first lien senior secured floating rate bank loans; (viii) floating and variable rate securities; and (ix) cash equivalents (i.e., securities maturing in less than one year) (each, a “Fixed Income Sector” and collectively, the “Fixed Income Sectors”).
SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”), the Fund's investment adviser, allocates the Fund's assets among the ETFs based on a proprietary sector selection model. The model first incorporates macroeconomic, financial and market data to arrive at a projected return forecast for each Fixed Income Sector. Using these projected return forecasts, the model then allocates the weightings of each Fixed Income Sector to construct a portfolio that seeks to maximize expected total return. The portfolio's final sector allocation is subject to the Adviser's risk and diversification constraints, which limit the amount a Fixed Income Sector may represent in the portfolio and the portfolio's duration relative to the Bloomberg U.S. Aggregate Bond Index. The Adviser may not fully implement the results of the model if it believes the model does not take into account all relevant data, or that a different evaluation or weighting of the data is more appropriate. It is possible the Fund may not have exposure to all Fixed Income Sectors
at all times. The Adviser typically rebalances the Fund's portfolio on a monthly basis, although rebalancing may occur more frequently depending on market conditions. The Adviser buys and sells securities for the Fund at each rebalancing based on the results of the process described above. As a result of frequent rebalances, the Fund may experience a high turnover rate.
Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings for investments purposes) directly, or indirectly through the underlying ETFs, in fixed income securities. The Fund may invest in ETFs that pay fees to the Adviser and its affiliates for management, marketing or other services. The Fund or ETFs in which the Fund invests may use derivative instruments (primarily options, futures contracts, options on futures, interest rate swaps and credit default swaps) to gain or hedge exposure to certain securities as an alternative to investing directly in such securities. In addition, the Fund may invest in cash and cash equivalents or money market instruments, such as money market funds (including money market funds advised by the Adviser).
FISR - Performance
Return Ranking - Trailing
| Period | FISR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.9% | -50.1% | 6.9% | 46.75% |
| 1 Yr | -7.0% | -25.4% | 139.4% | 31.38% |
| 3 Yr | -1.9%* | -13.0% | 100.8% | 16.18% |
| 5 Yr | N/A* | -10.0% | 55.1% | N/A |
| 10 Yr | N/A* | -7.4% | 12.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | FISR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -15.7% | -75.2% | 1360.6% | 44.91% |
| 2021 | -0.9% | -14.5% | 1027.9% | 8.61% |
| 2020 | 1.9% | -9.6% | 118.7% | 19.96% |
| 2019 | N/A | -11.4% | 5.8% | N/A |
| 2018 | N/A | -49.5% | 12.4% | N/A |
Total Return Ranking - Trailing
| Period | FISR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.9% | -50.1% | 6.9% | 49.50% |
| 1 Yr | -7.0% | -25.4% | 139.4% | 31.48% |
| 3 Yr | -1.9%* | -13.0% | 100.8% | 16.28% |
| 5 Yr | N/A* | -10.0% | 55.1% | N/A |
| 10 Yr | N/A* | -7.4% | 13.1% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | FISR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -15.7% | -75.2% | 131.9% | 43.87% |
| 2021 | -0.9% | -14.5% | 1027.9% | 8.71% |
| 2020 | 1.9% | -9.6% | 118.7% | 20.26% |
| 2019 | N/A | -11.4% | 5.8% | N/A |
| 2018 | N/A | -7.0% | 12.4% | N/A |
FISR - Holdings
Concentration Analysis
| FISR | Category Low | Category High | FISR % Rank | |
|---|---|---|---|---|
| Net Assets | 109 M | 1.19 M | 287 B | 87.16% |
| Number of Holdings | 8 | 1 | 17234 | 97.92% |
| Net Assets in Top 10 | 109 M | -106 M | 27.6 B | 65.22% |
| Weighting of Top 10 | 100.00% | 3.7% | 100.0% | 1.20% |
Top 10 Holdings
- State Street Instl US Govt MMkt Premier 0.16%
Asset Allocation
| Weighting | Return Low | Return High | FISR % Rank | |
|---|---|---|---|---|
| Bonds | 80.15% | 3.97% | 268.18% | 94.58% |
| Cash | 19.08% | -181.13% | 95.99% | 3.17% |
| Convertible Bonds | 0.78% | 0.00% | 10.39% | 71.38% |
| Stocks | 0.00% | -0.98% | 24.74% | 40.70% |
| Preferred Stocks | 0.00% | 0.00% | 77.13% | 44.38% |
| Other | 0.00% | -13.23% | 23.06% | 21.65% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FISR % Rank | |
|---|---|---|---|---|
| Government | 41.37% | 0.00% | 86.23% | 16.30% |
| Securitized | 24.84% | 0.00% | 98.79% | 67.03% |
| Cash & Equivalents | 19.08% | 0.00% | 95.99% | 5.71% |
| Corporate | 14.71% | 0.00% | 100.00% | 89.22% |
| Derivative | 0.00% | 0.00% | 25.16% | 44.93% |
| Municipal | 0.00% | 0.00% | 100.00% | 78.17% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FISR % Rank | |
|---|---|---|---|---|
| US | 73.27% | 3.63% | 210.09% | 92.39% |
| Non US | 6.88% | -6.54% | 58.09% | 63.50% |
FISR - Expenses
Operational Fees
| FISR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.50% | 0.01% | 2.93% | 57.80% |
| Management Fee | 0.50% | 0.00% | 1.76% | 86.23% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| FISR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| FISR 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.
| FISR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 79.00% | 2.00% | 493.39% | 34.18% |
FISR - Distributions
Dividend Yield Analysis
| FISR | Category Low | Category High | FISR % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.66% | 0.00% | 12.67% | 34.14% |
Dividend Distribution Analysis
| FISR | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
| FISR | Category Low | Category High | FISR % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.99% | -1.28% | 8.97% | 31.10% |
Capital Gain Distribution Analysis
| FISR | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 07, 2023 | $0.058 | OrdinaryDividend |
| Feb 07, 2023 | $0.067 | OrdinaryDividend |
| Dec 23, 2022 | $0.052 | OrdinaryDividend |
| Dec 07, 2022 | $0.056 | OrdinaryDividend |
| Nov 07, 2022 | $0.054 | OrdinaryDividend |
| Oct 07, 2022 | $0.047 | OrdinaryDividend |
| Sep 08, 2022 | $0.049 | OrdinaryDividend |
| Aug 05, 2022 | $0.044 | OrdinaryDividend |
| Jul 08, 2022 | $0.042 | OrdinaryDividend |
| Jun 07, 2022 | $0.041 | OrdinaryDividend |
| May 06, 2022 | $0.040 | OrdinaryDividend |
| Apr 07, 2022 | $0.040 | OrdinaryDividend |
| Mar 07, 2022 | $0.043 | OrdinaryDividend |
| Feb 07, 2022 | $0.054 | OrdinaryDividend |
| Dec 23, 2021 | $0.051 | OrdinaryDividend |
| Dec 07, 2021 | $0.051 | OrdinaryDividend |
| Nov 05, 2021 | $0.046 | OrdinaryDividend |
| Oct 07, 2021 | $0.044 | OrdinaryDividend |
| Sep 08, 2021 | $0.042 | OrdinaryDividend |
| Aug 06, 2021 | $0.045 | OrdinaryDividend |
| Jul 08, 2021 | $0.048 | OrdinaryDividend |
| Jun 07, 2021 | $0.048 | OrdinaryDividend |
| May 07, 2021 | $0.052 | OrdinaryDividend |
| Apr 08, 2021 | $0.048 | OrdinaryDividend |
| Mar 05, 2021 | $0.057 | OrdinaryDividend |
| Feb 05, 2021 | $0.050 | OrdinaryDividend |
| Dec 24, 2020 | $0.231 | OrdinaryDividend |
| Dec 07, 2020 | $0.043 | OrdinaryDividend |
| Nov 06, 2020 | $0.045 | OrdinaryDividend |
| Oct 07, 2020 | $0.059 | OrdinaryDividend |
| Sep 08, 2020 | $0.044 | OrdinaryDividend |
| Aug 07, 2020 | $0.047 | OrdinaryDividend |
| Jul 07, 2020 | $0.044 | OrdinaryDividend |
| Jun 05, 2020 | $0.054 | OrdinaryDividend |
| May 07, 2020 | $0.048 | OrdinaryDividend |
| Apr 07, 2020 | $0.063 | OrdinaryDividend |
| Mar 06, 2020 | $0.049 | OrdinaryDividend |
| Feb 07, 2020 | $0.069 | OrdinaryDividend |
| Dec 27, 2019 | $0.305 | OrdinaryDividend |
| Dec 06, 2019 | $0.082 | OrdinaryDividend |
| Nov 07, 2019 | $0.084 | OrdinaryDividend |
| Oct 07, 2019 | $0.070 | OrdinaryDividend |
| Sep 09, 2019 | $0.070 | OrdinaryDividend |
| Aug 07, 2019 | $0.076 | OrdinaryDividend |
| Jul 08, 2019 | $0.080 | OrdinaryDividend |
| Jun 07, 2019 | $0.085 | OrdinaryDividend |
| May 07, 2019 | $0.079 | OrdinaryDividend |
FISR - Fund Manager Analysis
Managers
Jeremiah Holly
Start Date
Tenure
Tenure Rank
Apr 02, 2019
3.16
3.2%
Jerry is a Vice President at State Street Global Advisors and a Senior Portfolio Manager with the Investment Solutions Group (ISG). In this role, Jerry is responsible for managing a variety of multi-asset class portfolios, including tactical asset allocation strategies and derivatives-based overlay strategies. He is actively involved in the investment research that underpins the team's views across capital markets and also plays a key role in articulating those perspectives and ideas to clients. Before joining the Investment Solutions Group, Jerry was a member of the firm's Consultant Relations department supporting asset allocation and fixed income investment strategies. Prior to joining SSgA in 2005, Jerry worked as a Research Analyst at Chmura Economics & Analytics - an economic research firm in Richmond, Virginia. Jerry graduated from the University of Richmond with a Bachelor of Arts degree in Economics. He earned the Chartered Financial Analyst designation and is a member of both the Boston Security Analysts Society and CFA Institute. Jerry also serves on the Board of Directors for Tutoring Plus of Cambridge, a nonprofit tutoring and mentoring organization based in Cambridge, MA.
Michael Martel
Start Date
Tenure
Tenure Rank
Apr 02, 2019
3.16
3.2%
Mike is a Managing Director of State Street Global Advisors and the Head of Portfolio Management in the Americas for SSGA's Investment Solutions Group (ISG). In this role, he is responsible for the design and management of multi-asset class strategies geared towards meeting the investment objectives of a broad and diverse client base. His work with clients includes aligning assets with long and short-term investment objectives, tactical asset allocation, and employing overlay strategies to enhance return and better manage risks. Prior to this role, Mike led ISG's Exposure Management Team. He has been working in the investment management field since 1992. Mike holds a Bachelor of Arts degree in Economics from the College of the Holy Cross and Master degrees in both Finance and Business Administration from the Carroll School of Management at Boston College.
Leo Law
Start Date
Tenure
Tenure Rank
Apr 02, 2019
3.16
3.2%
Leo Law, CFA, is an Assistant Vice President of SSGA and the Adviser and a Portfolio Manager in the Investment Solutions Group (ISG). He is responsible for the portfolio management of several investment strategies, including strategic and tactical global asset allocation. He is also actively involved in the business development of SSGA's model portfolio and defined contribution research. Prior to joining SSGA in 2016, Mr. Law worked as a portfolio analyst at Manulife Asset Management and a derivative analyst at Sun Life Financial, conducting industry wide fundamental research and implementing derivatives strategy to manage variable annuity products. Mr. Law holds a Bachelor of Science degree in Finance with a minor in Mathematics from Boston College. He earned the Chartered Financial Analyst (CFA) and Financial Risk Manager designations. He is a member the CFA Institute and CFA Society Boston, Inc.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 33.43 | 6.76 | 1.16 |
