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State Street Target Retirement Fund

mutual fund
SSFOX
Payout Change
Pending
Price as of:
$10.96 -0.01 -0.09%
primary theme
Target Date
SSFOX (Mutual Fund)

State Street Target Retirement Fund

Payout Change
Pending
Price as of:
$10.96 -0.01 -0.09%
primary theme
Target Date
SSFOX (Mutual Fund)

State Street Target Retirement Fund

Payout Change
Pending
Price as of:
$10.96 -0.01 -0.09%
primary theme
Target Date

Name

As of 06/14/2024

Price

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

$10.96

$708 M

3.34%

$0.37

0.26%

Vitals

YTD Return

3.3%

1 yr return

8.3%

3 Yr Avg Return

1.3%

5 Yr Avg Return

4.8%

Net Assets

$708 M

Holdings in Top 10

101.0%

52 WEEK LOW AND HIGH

$11.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.26%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 33.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

Price

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

$10.96

$708 M

3.34%

$0.37

0.26%

SSFOX - Profile

Distributions

  • YTD Total Return 3.3%
  • 3 Yr Annualized Total Return 1.3%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.40%
DIVIDENDS
  • Dividend Yield 3.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    State Street Target Retirement Fund
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Sep 30, 2014
  • Shares Outstanding
    N/A
  • Share Class
    K
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Narkiewicz

Fund Description

SSGA Funds Management, Inc. (SSGA FMor the Adviser), the investment adviser to the Fund, manages the Target Retirement Fund using a proprietary asset allocation strategy. The Fund is a fund of fundsthat invests in a combination of mutual funds and ETFs sponsored by the Adviser or its affiliates (the Underlying Funds). The Underlying Funds may invest in a wide variety of asset classes, including equity and fixed-income securities of issuers anywhere in the world, including emerging markets investments, and including, among others, high yield, commodity, and real estate investments. The Underlying Funds may invest in obligations of domestic U.S. issuers, non-U.S. issuers, or both.
The Fund's assets are allocated among the Underlying Funds according to a target asset allocation strategy that emphasizes fixed income, but also includes a smaller allocation to equity and certain other asset classes. The Fund is intended for use as part of an overall investment strategy by an investor who is already in retirement.
The Underlying Funds employ a wide array of investment styles. For example, the Underlying Funds can buy and sell common stocks of companies of any size, corporate bonds of varying credit quality, U.S. government and agency bonds, mortgage- and asset-backed securities, commodities, real estate and money market instruments. They may hold U.S. or non-U.S. investments. The Underlying Funds may use derivative instruments of any kind, including futures contracts, forward currency contracts, credit default swaps, interest rate swaps and commodities-related derivatives. Derivatives may be used by an Underlying Fund for hedging or risk management purposes, as a substitute for direct investment, or otherwise to seek to enhance the Underlying Fund's total return.
The following table shows the Fund's strategic target allocations to the Underlying Funds as of the date of this Prospectus.
Underlying Funds
Target
Retirement
Fund
State Street Equity 500 Index II Portfolio
15.57
%
State Street Small/Mid Cap Equity Index Portfolio
2.93
%
State Street Global All Cap Equity ex‑U.S. Index Portfolio
11.50
%
State Street Aggregate Bond Index Portfolio
20.00
%
SPDR Bloomberg 1‑10 Year TIPS ETF
18.00
%
SPDR Bloomberg High Yield Bond ETF
7.00
%
SPDR Dow Jones Global Real Estate ETF
5.00
%
SPDR Portfolio Long Term Treasury ETF
0.00
%
SPDR Portfolio Short Term Treasury ETF
16.00
%
SPDR Portfolio Short Term Corporate Bond ETF
4.00
%
The Fund's actual allocations are expected to differ over time. The Adviser periodically reviews the Fund's target allocations to underlying investment options and may, at any time, in its discretion, change the target allocations or deviate from the target allocations when it believes doing so is appropriate to pursue the Fund's investment objective. The Adviser may modify the selection of Underlying Funds from time to time, and may invest in other Underlying Funds, including any Underlying Funds that may be created in the future. The table is presented for illustrative purposes only. More current information regarding the Fund's allocations may be available on its website:  www.ssga.com.
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SSFOX - Performance

Return Ranking - Trailing

Period SSFOX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -1.2% 8.5% 56.08%
1 Yr 8.3% 1.7% 11.8% 35.45%
3 Yr 1.3%* -6.5% 3.7% 11.70%
5 Yr 4.8%* -5.0% 5.3% 2.80%
10 Yr N/A* 1.6% 4.9% N/A

* Annualized

Return Ranking - Calendar

Period SSFOX Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% -9.8% 12.8% 54.79%
2022 -16.5% -38.3% -3.8% 59.04%
2021 0.9% -9.1% 10.3% 26.88%
2020 8.5% -13.4% 12.6% 13.33%
2019 10.3% -1.1% 13.9% 24.46%

Total Return Ranking - Trailing

Period SSFOX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -1.2% 8.5% 56.08%
1 Yr 8.3% 1.7% 11.8% 35.45%
3 Yr 1.3%* -6.5% 3.7% 11.70%
5 Yr 4.8%* -5.0% 5.3% 2.80%
10 Yr N/A* 1.6% 4.9% N/A

* Annualized

Total Return Ranking - Calendar

Period SSFOX Return Category Return Low Category Return High Rank in Category (%)
2023 10.8% -9.8% 15.4% 41.49%
2022 -12.1% -16.9% -2.9% 55.32%
2021 7.9% -3.8% 10.3% 18.28%
2020 10.3% -13.4% 16.6% 40.61%
2019 14.0% 4.7% 25.2% 48.92%

NAV & Total Return History


SSFOX - Holdings

Concentration Analysis

SSFOX Category Low Category High SSFOX % Rank
Net Assets 708 M 1.15 M 36 B 26.98%
Number of Holdings 11 2 1464 77.78%
Net Assets in Top 10 673 M 826 K 36.2 B 18.52%
Weighting of Top 10 100.97% 4.5% 109.1% 2.21%

Top 10 Holdings

  1. State Street Aggregate Bond Index Portfolio 19.41%
  2. SPDR Bloomberg 1-10 Year TIPS ETF 17.95%
  3. State Street Equity 500 Index II Portfolio 16.83%
  4. SPDR Portfolio Short Term Treasury ETF 15.73%
  5. State Street Global All Cap Equity ex-U.S. Index Portfolio 11.70%
  6. SPDR Bloomberg High Yield Bond ETF 7.00%
  7. SPDR Dow Jones Global Real Estate ETF 5.10%
  8. SPDR Portfolio Short Term Corporate Bond ETF 3.99%
  9. State Street Small/Mid Cap Equity Index Portfolio 3.09%
  10. State Street Institutional US Government Money Market Fund 0.19%

Asset Allocation

Weighting Return Low Return High SSFOX % Rank
Stocks
100.78% 0.00% 100.78% 0.53%
Convertible Bonds
0.71% 0.00% 6.56% 52.38%
Cash
0.35% -24.70% 53.61% 55.56%
Preferred Stocks
0.00% 0.00% 11.70% 25.40%
Other
0.00% 0.00% 5.62% 41.27%
Bonds
0.00% 0.00% 109.30% 53.44%

Stock Sector Breakdown

Weighting Return Low Return High SSFOX % Rank
Real Estate
18.22% 1.86% 19.30% 4.61%
Technology
16.66% 16.20% 25.61% 89.47%
Financial Services
13.11% 11.53% 20.26% 89.47%
Healthcare
10.40% 6.38% 14.87% 79.61%
Consumer Cyclical
9.33% 4.61% 13.00% 92.11%
Industrials
8.95% 7.75% 12.84% 86.18%
Consumer Defense
6.22% 4.27% 8.57% 57.24%
Communication Services
6.19% 4.20% 8.42% 78.95%
Basic Materials
4.36% 2.71% 8.17% 76.97%
Energy
4.01% 2.88% 13.48% 75.00%
Utilities
2.56% 1.85% 8.79% 76.32%

Stock Geographic Breakdown

Weighting Return Low Return High SSFOX % Rank
US
100.78% 0.00% 100.78% 0.53%
Non US
0.00% 0.00% 17.40% 29.10%

SSFOX - Expenses

Operational Fees

SSFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.26% 0.05% 13.37% 71.28%
Management Fee 0.05% 0.00% 0.79% 26.55%
12b-1 Fee 0.00% 0.00% 1.00% 1.47%
Administrative Fee 0.05% 0.01% 0.29% 16.67%

Sales Fees

SSFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SSFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

SSFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 33.00% 0.00% 121.26% 54.72%

SSFOX - Distributions

Dividend Yield Analysis

SSFOX Category Low Category High SSFOX % Rank
Dividend Yield 3.34% 0.00% 9.37% 93.65%

Dividend Distribution Analysis

SSFOX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Monthly Monthly Monthly

Net Income Ratio Analysis

SSFOX Category Low Category High SSFOX % Rank
Net Income Ratio 2.40% -0.06% 5.71% 14.12%

Capital Gain Distribution Analysis

SSFOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Semi-Annually

Distributions History

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SSFOX - Fund Manager Analysis

Managers

Michael Narkiewicz


Start Date

Tenure

Tenure Rank

Jan 25, 2018

4.35

4.4%

Michael Narkiewicz is a Principal of SSGA and SSGA FM and a Portfolio Manager in the Investment Solutions Group (ISG), where he is responsible for implementing customized investment approaches, including strategic and tactical multi-asset class solutions, for institutional clients. Prior to his current role, Mr. Narkiewicz was a portfolio specialist within the Global Product and Marketing Group. In that role, he focused on supporting passive equity products as a subject matter expert and a liaison between the portfolio management team and the client-facing functions at SSGA. His responsibilities included investment research and analysis as well as product positioning and messaging across multiple investment strategies. Before joining SSGA, Mr. Narkiewicz was a senior portfolio analyst at Shepherd Kaplan and an equity trader at Congress Asset Management. He holds a Bachelor of Science degree in Finance from Bentley University and a Master of Business Administration with a concentration in Finance from the D’Amore-McKim School of Business at Northeastern University.

Seamus Quinn


Start Date

Tenure

Tenure Rank

Apr 30, 2022

0.08

0.1%

Seamus Quinn, CFA, CAIA, is a Principal of SSGA and the Adviser and a Portfolio Manager in the Investment Solutions Group (ISG). He is responsible for the development and investment management of a variety of customized multi-asset class portfolios, including strategic, tactical, and exposure management strategies. Mr. Quinn joined SSGA in 2012 and has been part of ISG since 2017. Prior to joining ISG, Mr. Quinn was a portfolio analyst in the Fixed Income Operations team. Prior to his role at SSGA, Mr. Quinn worked at State Street Corporation as a fund accountant. Mr. Quinn holds a Bachelor of Science degree in Finance from the University of Massachusetts. He has earned the Chartered Financial Analyst (CFA) and the Chartered Alternative Investment Analyst (CAIA) designations and is a member of the CFA Institute, CFA Society Boston, Inc., and the CAIA Association.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 17.59 6.47 3.75