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State Street Income V.I.S. Fund
mutual fund
SSIMX
Payout Change
Pending
Price as of:
$10.07
-0.02
-0.2%
primary theme
U.S. Intermediate-Term Bond Duration
share class
SSIMX (Mutual Fund)
State Street Income V.I.S. Fund
Payout Change
Pending
Price as of:
$10.07
-0.02
-0.2%
primary theme
U.S. Intermediate-Term Bond Duration
share class
SSIMX (Mutual Fund)
State Street Income V.I.S. Fund
Payout Change
Pending
Price as of:
$10.07
-0.02
-0.2%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 12/03/2024Price
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
0.9%
1 yr return
4.6%
3 Yr Avg Return
-3.5%
5 Yr Avg Return
-1.0%
Net Assets
$9.77 M
Holdings in Top 10
49.7%
52 WEEK LOW AND HIGH
$10.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.39%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 81.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/03/2024Price
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
SSIMX - Profile
Distributions
- YTD Total Return 0.9%
- 3 Yr Annualized Total Return -3.5%
- 5 Yr Annualized Total Return -1.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.01%
- Dividend Yield 2.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameState Street Income V.I.S. Fund
-
Fund Family NameState Street Global Advisors - advised funds
-
Inception DateJan 03, 1995
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMatthew Nest
Fund Description
The Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any borrowings for investment purposes) under normal circumstances in debt securities.
The Fund invests primarily in a variety of investment-grade debt securities, such as mortgage-backed securities, corporate bonds, U.S. Government securities and money market instruments. The Fund normally has a weighted average effective maturity of approximately five to ten years, but is subject to no limitation with respect to the maturities of the instruments in which it may invest.
U.S. Government securities are securities that are issued or guaranteed as to principal or interest by the U.S. Government or one of its agencies or instrumentalities. Some U.S. Government securities are backed by the full faith and credit of the U.S. Government, such as U.S. Treasury bills and notes and obligations of the Government National Mortgage Association (“Ginnie Mae”). Other U.S. Government securities are neither issued by nor guaranteed by the full faith and credit of the U.S. Government, including those issued by the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”). Fannie Mae and Freddie Mac have been operating under a conservatorship since 2008, with the Federal Housing Finance Agency acting as their conservator, and receive certain financing support from and have access to certain borrowing arrangements with the U.S. Treasury.
The Fund's investment adviser, SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”) seeks to identify debt securities that they believe have desirable characteristics for the Fund such as:
•
attractive yields and prices;
•
the potential for capital appreciation; and/or
•
reasonable credit quality.
The Adviser may consider selling a security when one of these characteristics no longer applies, when the Adviser believes that the valuation has become excessive, or when more attractive alternatives are identified.
The Fund also may invest up to 45% of its net assets in securities rated BBB or below by S&P Global Ratings (“S&P”) or Baa or below by Moody's Investor Services, Inc. (“Moody's”) or of similar quality and up to 20% of its net assets in high yield securities (also known as below investment grade bonds or “junk bonds”). The Fund may also invest in exchange-traded products (“ETPs”) that provide exposure to such investments, including ETPs that pay fees to the Adviser and its affiliates for management, marketing or other services. High yield securities are those rated BB+ through B- by S&P or Ba1 through B3 by Moody's or below or of similar quality. The Fund also may invest up to 35% of its total assets in foreign (including emerging markets) debt securities, and up to 20% of its net assets (plus any borrowings for investment purposes) in equity securities. The Fund may also invest in municipal obligations and asset-backed securities.
The Adviser may also use various types of derivative instruments (such as futures contracts, interest rate and credit default swaps, options and forward contracts) to manage yield, duration (a measure of a bond price's sensitivity to a given change in interest rates) and exposure to credit quality, and to gain or hedge exposure to certain securities, indices or market segments.
The Fund may engage in active and frequent trading of its portfolio securities.
SSIMX - Performance
Return Ranking - Trailing
| Period | SSIMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.9% | -4.9% | 11.5% | 96.77% |
| 1 Yr | 4.6% | -2.8% | 14.8% | 96.46% |
| 3 Yr | -3.5%* | -11.1% | 28.1% | 92.73% |
| 5 Yr | -1.0%* | -7.3% | 58.8% | 94.55% |
| 10 Yr | 0.5%* | -2.8% | 73.9% | 95.03% |
* Annualized
Return Ranking - Calendar
| Period | SSIMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.6% | -16.2% | 8.1% | 27.55% |
| 2022 | -18.0% | -34.7% | 131.9% | 88.72% |
| 2021 | -5.0% | -11.6% | 4.4% | 92.32% |
| 2020 | 4.0% | -9.9% | 946.1% | 51.21% |
| 2019 | 8.4% | -1.7% | 16.9% | 0.96% |
Total Return Ranking - Trailing
| Period | SSIMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.9% | -4.9% | 11.5% | 96.77% |
| 1 Yr | 4.6% | -2.8% | 14.8% | 96.46% |
| 3 Yr | -3.5%* | -11.1% | 28.1% | 92.73% |
| 5 Yr | -1.0%* | -7.3% | 58.8% | 94.55% |
| 10 Yr | 0.5%* | -2.8% | 73.9% | 95.03% |
* Annualized
Total Return Ranking - Calendar
| Period | SSIMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.8% | -11.3% | 11.9% | 88.77% |
| 2022 | -14.4% | -32.2% | 131.9% | 75.74% |
| 2021 | -1.8% | -9.4% | 9.2% | 80.98% |
| 2020 | 7.0% | -1.9% | 1009.0% | 79.75% |
| 2019 | 8.4% | 1.1% | 21668.0% | 63.39% |
NAV & Total Return History
SSIMX - Holdings
Concentration Analysis
| SSIMX | Category Low | Category High | SSIMX % Rank | |
|---|---|---|---|---|
| Net Assets | 9.77 M | 2.9 M | 314 B | 98.96% |
| Number of Holdings | 998 | 1 | 17880 | 41.54% |
| Net Assets in Top 10 | 4.86 M | 1.62 M | 35.1 B | 98.44% |
| Weighting of Top 10 | 49.68% | 4.7% | 3984.6% | 10.53% |
Top 10 Holdings
- State Street Institutional US Government Money Market Fund 14.76%
- U.S. Treasury Notes 9.84%
- U.S. Treasury Notes 5.92%
- Uniform Mortgage-Backed Security, TBA 5.38%
- U.S. Treasury Notes 2.64%
- Uniform Mortgage-Backed Security, TBA 2.51%
- U.S. Treasury Bonds 2.37%
- U.S. Treasury Notes 2.17%
- U.S. Treasury Notes 2.05%
- U.S. Treasury Notes 2.03%
Asset Allocation
| Weighting | Return Low | Return High | SSIMX % Rank | |
|---|---|---|---|---|
| Bonds | 96.06% | 0.00% | 9231.88% | 43.94% |
| Cash | 14.83% | -54.51% | 237.69% | 8.41% |
| Convertible Bonds | 0.35% | 0.00% | 7.93% | 84.41% |
| Stocks | 0.00% | 0.00% | 99.98% | 52.54% |
| Preferred Stocks | 0.00% | 0.00% | 72.34% | 46.63% |
| Other | -0.04% | -27.25% | 1695.17% | 98.23% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | SSIMX % Rank | |
|---|---|---|---|---|
| Government | 42.70% | 0.00% | 86.23% | 12.55% |
| Securitized | 25.42% | 0.00% | 98.40% | 64.75% |
| Corporate | 22.07% | 0.00% | 100.00% | 81.59% |
| Cash & Equivalents | 14.83% | 0.00% | 237.69% | 8.62% |
| Municipal | 0.53% | 0.00% | 100.00% | 45.19% |
| Derivative | -0.04% | -6.56% | 44.82% | 83.80% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | SSIMX % Rank | |
|---|---|---|---|---|
| US | 96.06% | 0.00% | 9042.62% | 41.85% |
| Non US | 0.00% | 0.00% | 189.26% | 54.41% |
SSIMX - Expenses
Operational Fees
| SSIMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.39% | 0.01% | 39.64% | 13.58% |
| Management Fee | 0.50% | 0.00% | 1.76% | 89.30% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| SSIMX 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% | 4.00% | N/A |
Trading Fees
| SSIMX 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.
| SSIMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 81.00% | 2.00% | 493.39% | 36.53% |
SSIMX - Distributions
Dividend Yield Analysis
| SSIMX | Category Low | Category High | SSIMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.03% | 0.00% | 10.11% | 96.37% |
Dividend Distribution Analysis
| SSIMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| SSIMX | Category Low | Category High | SSIMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.01% | -1.28% | 4.79% | 88.06% |
Capital Gain Distribution Analysis
| SSIMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 26, 2023 | $0.205 | OrdinaryDividend |
| Dec 26, 2023 | $0.008 | CapitalGainShortTerm |
| Dec 27, 2022 | $0.288 | OrdinaryDividend |
| Dec 27, 2022 | $0.008 | CapitalGainShortTerm |
| Dec 27, 2022 | $0.130 | CapitalGainLongTerm |
| Dec 27, 2021 | $0.284 | OrdinaryDividend |
| Dec 27, 2021 | $0.109 | CapitalGainShortTerm |
| Dec 28, 2020 | $0.320 | OrdinaryDividend |
| Dec 28, 2020 | $0.042 | CapitalGainShortTerm |
| Dec 26, 2017 | $0.248 | OrdinaryDividend |
| Dec 28, 2016 | $0.215 | OrdinaryDividend |
| Dec 29, 2015 | $0.261 | OrdinaryDividend |
| Dec 22, 2014 | $0.266 | OrdinaryDividend |
| Dec 26, 2013 | $0.302 | OrdinaryDividend |
| Dec 27, 2012 | $0.286 | OrdinaryDividend |
| Dec 28, 2011 | $0.495 | OrdinaryDividend |
| Dec 29, 2010 | $0.373 | OrdinaryDividend |
| Dec 29, 2009 | $0.460 | OrdinaryDividend |
| Dec 30, 2008 | $0.643 | OrdinaryDividend |
SSIMX - Fund Manager Analysis
Managers
Matthew Nest
Start Date
Tenure
Tenure Rank
Jan 10, 2018
4.39
4.4%
Matthew Nest, CFA, is a Managing Director of SSGA and the Adviser and Global Head of Macro Strategies. In that capacity, he is responsible for global interest rate and currency portfolio management. Prior to joining SSGA in 2016, Mr. Nest spent sixteen years at PIMCO in a number of functions including portfolio management, strategy and business development. He has worked in the U.S., Sydney, Singapore and Hong Kong. He started his career at Bank of America and has been working in the investment industry since 1999. Mr. Nest has a Bachelor of Science in Economics from Arizona State University and a Master of Business Administration from the University of Chicago’s Booth School of Business. He earned the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute.
James Palmieri
Start Date
Tenure
Tenure Rank
Jun 12, 2019
2.97
3.0%
James Palmieri, CFA, is a Managing Director of SSGA and the Adviser, a Senior Portfolio Manager, and Head of Structured Credit for the Fundamental Active Fixed Income Team. In his role, he is the lead portfolio manager and trader for the Structured Products Group servicing all total rate of return and insurance accounts managed in Stamford, CT. In addition to his portfolio management responsibilities, Mr. Palmieri is a member of the Fixed Income Currency and Cash Senior Leadership Team, and the Fundamental Active Core and Core Plus Fixed Income Team. He joined SSGA in 2016 through its acquisition of GE Asset Management. Prior to joining SSGA, Mr. Palmieri worked at GE Asset Management for eleven years as a senior portfolio manager and trader for all fixed income total rate of return and insurance accounts for GE. Prior to joining GE Asset Management, he worked at Constitution State Corporate Credit Union for one year as an investment director and CIGNA Investment Management for five years as a fixed income portfolio manager. He received his Bachelor of Science from Central Connecticut State University, is a Chartered Financial Analyst (CFA) charter holder and has twenty years of investment experience.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.77 | 1.16 |
