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SPDR SSGA US Small Cap Low Volatility Index ETF
ETF
SMLV
Payout Change
Pending
Price as of:
$135.0144
+0.0
+0.0%
primary theme
U.S. Small-Cap Blend Equity
SMLV (ETF)
SPDR SSGA US Small Cap Low Volatility Index ETF
Payout Change
Pending
Price as of:
$135.0144
+0.0
+0.0%
primary theme
U.S. Small-Cap Blend Equity
SMLV (ETF)
SPDR SSGA US Small Cap Low Volatility Index ETF
Payout Change
Pending
Price as of:
$135.0144
+0.0
+0.0%
primary theme
U.S. Small-Cap Blend Equity
Name
As of 11/19/2024Price
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
22.5%
1 yr return
36.4%
3 Yr Avg Return
7.1%
5 Yr Avg Return
9.5%
Net Assets
$180 M
Holdings in Top 10
13.8%
52 WEEK LOW AND HIGH
$135.0
$101.14
$139.60
Expenses
OPERATING FEES
Expense Ratio 0.12%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 52.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/19/2024Price
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
SMLV - Profile
Distributions
- YTD Total Return 22.5%
- 3 Yr Annualized Total Return 7.1%
- 5 Yr Annualized Total Return 9.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.19%
- Dividend Yield 2.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameSPDR SSGA US Small Cap Low Volatility Index ETF
-
Fund Family NameState Street Global Advisors - advised funds
-
Inception DateFeb 20, 2013
-
Shares Outstanding1790000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Feehily
Fund Description
In seeking to track the performance of the SSGA US Small Cap Low Volatility 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. The Fund may also invest in cash and cash equivalents or money market instruments (including money market funds advised by the Adviser) for cash management purposes. 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 is designed to measure the performance of the stocks of U.S. small capitalization companies that exhibit low volatility. Volatility is a statistical measurement of the magnitude of movements in a stock's price over time. In selecting constituents from the Index Universe (defined herein), the Index utilizes a proprietary rules-based process that seeks to increase exposure to stocks in the Index Universe that exhibit low volatility. The initial universe of securities eligible for inclusion in the Index (the “Index Universe”) is comprised of the 2,000 U.S. stocks listed on a U.S. national securities exchange whose market capitalizations rank from 1,001 to 3,000 that have trailing six-month average daily trading volumes of at least 250,000 shares and free float factors (percentage of common shares outstanding readily available in the market) greater than 50% as of the Index rebalance determination date. Eligible stocks are assigned to a sector and ranked within each sector according to their volatility. A stock's volatility is measured by the standard deviation of monthly total returns to that stock's price over the trailing 5 years as of the Index rebalance determination date. For stocks with less than 5 years of monthly returns, volatility is measured by available monthly returns if the stock has at least 2.5 years of monthly returns or by the average volatility of stocks in the same sector in the Investment Universe if the stock has fewer than 2.5 years of monthly returns. For each sector, stocks with the lowest volatility whose combined free float sector market capitalization equals 30% are selected for inclusion in the Index, including the first stock that brings the combined sector market capitalization above 30%. The Index weights constituent securities such that securities with the lowest volatility receive the highest weights in the Index, subject to liquidity constraints limiting a constituent's weighting in the Index to 5% and to 20 times the constituent's weight within the Index Universe. The Index rebalance determination date is 10 business days prior to the last business day of March. Index rebalancings are effective after the close of the last business day of March. As of August 31, 2024, a significant portion of the Fund comprised companies in the financial sector, although this may change from time to time. As of July 31, 2024, there were 418 securities in the Index.The Index was created and is sponsored by State Street Global Advisors (the “Index Provider” or “SSGA”), an affiliate of the Fund and of SSGA FM, the Fund's Adviser. The Index Provider establishes and maintains rules which are used to determine the composition of the Index and relative weightings of the securities in the Index.
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SMLV - Performance
Return Ranking - Trailing
| Period | SMLV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.5% | -3.6% | 37.7% | 4.53% |
| 1 Yr | 36.4% | 0.0% | 47.7% | 1.32% |
| 3 Yr | 7.1%* | -14.0% | 42.6% | 8.41% |
| 5 Yr | 9.5%* | -12.6% | 34.1% | 55.00% |
| 10 Yr | 9.5%* | -2.9% | 18.1% | 14.12% |
* Annualized
Return Ranking - Calendar
| Period | SMLV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.5% | -19.9% | 29.0% | 90.72% |
| 2022 | -9.9% | -59.3% | 118.2% | 3.43% |
| 2021 | 24.9% | -31.6% | 39.3% | 8.90% |
| 2020 | -4.4% | -51.0% | 39.5% | 94.25% |
| 2019 | 20.8% | -5.6% | 37.8% | 51.97% |
Total Return Ranking - Trailing
| Period | SMLV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.5% | -3.6% | 37.7% | 4.53% |
| 1 Yr | 36.4% | 0.0% | 47.7% | 1.32% |
| 3 Yr | 7.1%* | -14.0% | 42.6% | 8.41% |
| 5 Yr | 9.5%* | -12.6% | 34.1% | 55.00% |
| 10 Yr | 9.5%* | -2.9% | 18.1% | 14.12% |
* Annualized
Total Return Ranking - Calendar
| Period | SMLV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.6% | -11.7% | 31.8% | 95.64% |
| 2022 | -7.7% | -45.2% | 123.7% | 4.76% |
| 2021 | 27.7% | 0.0% | 45.6% | 22.63% |
| 2020 | -1.5% | -50.5% | 46.9% | 97.22% |
| 2019 | 24.1% | 2.2% | 40.9% | 56.73% |
SMLV - Holdings
Concentration Analysis
| SMLV | Category Low | Category High | SMLV % Rank | |
|---|---|---|---|---|
| Net Assets | 180 M | 555 K | 145 B | 74.76% |
| Number of Holdings | 420 | 2 | 2445 | 31.07% |
| Net Assets in Top 10 | 23.7 M | 124 K | 9.87 B | 77.21% |
| Weighting of Top 10 | 13.81% | 3.1% | 100.1% | 66.92% |
Top 10 Holdings
- Nelnet Inc 1.73%
- PJT Partners Inc 1.56%
- Hanover Insurance Group Inc/The 1.53%
- Community Financial System Inc 1.39%
- Old National Bancorp/IN 1.36%
- Enstar Group Ltd 1.29%
- NBT Bancorp Inc 1.28%
- Park National Corp 1.27%
- City Holding Co 1.23%
- Virtu Financial Inc 1.17%
Asset Allocation
| Weighting | Return Low | Return High | SMLV % Rank | |
|---|---|---|---|---|
| Stocks | 99.73% | 7.51% | 107.74% | 10.36% |
| Cash | 1.16% | 0.00% | 42.24% | 60.64% |
| Preferred Stocks | 0.00% | 0.00% | 6.06% | 84.75% |
| Other | 0.00% | -0.07% | 49.08% | 90.40% |
| Convertible Bonds | 0.00% | 0.00% | 3.17% | 85.66% |
| Bonds | 0.00% | 0.00% | 87.66% | 86.25% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SMLV % Rank | |
|---|---|---|---|---|
| Financial Services | 30.48% | 0.00% | 35.52% | 0.95% |
| Industrials | 15.99% | 2.46% | 37.42% | 55.81% |
| Real Estate | 11.12% | 0.00% | 29.43% | 5.33% |
| Technology | 9.32% | 0.00% | 43.95% | 89.90% |
| Healthcare | 8.21% | 0.00% | 26.53% | 82.29% |
| Consumer Cyclical | 7.24% | 0.99% | 47.79% | 90.48% |
| Consumer Defense | 4.59% | 0.00% | 18.87% | 37.90% |
| Utilities | 4.33% | 0.00% | 18.58% | 11.05% |
| Basic Materials | 4.12% | 0.00% | 18.66% | 63.05% |
| Communication Services | 2.87% | 0.00% | 14.85% | 45.90% |
| Energy | 1.73% | 0.00% | 37.72% | 86.48% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SMLV % Rank | |
|---|---|---|---|---|
| US | 99.73% | 2.58% | 107.74% | 9.98% |
| Non US | 0.00% | 0.00% | 97.07% | 88.51% |
SMLV - Expenses
Operational Fees
| SMLV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.12% | 0.01% | 38.30% | 94.90% |
| Management Fee | 0.12% | 0.00% | 1.50% | 7.37% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
| SMLV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| SMLV 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.
| SMLV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 52.00% | 1.00% | 314.00% | 55.46% |
SMLV - Distributions
Dividend Yield Analysis
| SMLV | Category Low | Category High | SMLV % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.64% | 0.00% | 42.47% | 24.67% |
Dividend Distribution Analysis
| SMLV | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | SemiAnnual | Annual |
Net Income Ratio Analysis
| SMLV | Category Low | Category High | SMLV % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.19% | -2.40% | 2.49% | 0.57% |
Capital Gain Distribution Analysis
| SMLV | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 20, 2024 | $0.891 | OrdinaryDividend |
| Jun 21, 2024 | $0.900 | OrdinaryDividend |
| Mar 15, 2024 | $0.555 | OrdinaryDividend |
| Dec 15, 2023 | $0.865 | OrdinaryDividend |
| Sep 15, 2023 | $0.663 | OrdinaryDividend |
| Jun 16, 2023 | $0.641 | OrdinaryDividend |
| Mar 17, 2023 | $0.842 | OrdinaryDividend |
| Dec 16, 2022 | $0.879 | OrdinaryDividend |
| Sep 16, 2022 | $0.587 | OrdinaryDividend |
| Jun 17, 2022 | $0.651 | OrdinaryDividend |
| Mar 18, 2022 | $0.471 | OrdinaryDividend |
| Dec 17, 2021 | $0.805 | OrdinaryDividend |
| Sep 17, 2021 | $0.593 | OrdinaryDividend |
| Jun 18, 2021 | $0.695 | OrdinaryDividend |
| Mar 19, 2021 | $0.446 | OrdinaryDividend |
| Dec 18, 2020 | $1.078 | OrdinaryDividend |
| Sep 18, 2020 | $0.239 | OrdinaryDividend |
| Jun 19, 2020 | $0.592 | OrdinaryDividend |
| Mar 20, 2020 | $0.454 | OrdinaryDividend |
| Dec 20, 2019 | $0.799 | OrdinaryDividend |
| Sep 20, 2019 | $0.634 | OrdinaryDividend |
| Jun 21, 2019 | $0.753 | OrdinaryDividend |
| Mar 15, 2019 | $0.434 | OrdinaryDividend |
| Dec 21, 2018 | $0.893 | OrdinaryDividend |
| Sep 21, 2018 | $0.696 | OrdinaryDividend |
| Jun 15, 2018 | $0.599 | OrdinaryDividend |
| Mar 16, 2018 | $0.422 | OrdinaryDividend |
| Dec 15, 2017 | $0.894 | OrdinaryDividend |
| Dec 15, 2017 | $3.659 | CapitalGainShortTerm |
| Dec 15, 2017 | $1.294 | CapitalGainLongTerm |
| Sep 15, 2017 | $0.564 | OrdinaryDividend |
| Jun 16, 2017 | $0.465 | OrdinaryDividend |
| Mar 17, 2017 | $0.359 | OrdinaryDividend |
| Dec 16, 2016 | $1.058 | OrdinaryDividend |
| Dec 16, 2016 | $0.297 | CapitalGainLongTerm |
| Sep 16, 2016 | $0.565 | OrdinaryDividend |
| Jun 17, 2016 | $0.498 | OrdinaryDividend |
| Mar 18, 2016 | $0.425 | OrdinaryDividend |
| Dec 18, 2015 | $0.849 | OrdinaryDividend |
| Sep 18, 2015 | $0.484 | OrdinaryDividend |
| Jun 19, 2015 | $0.511 | OrdinaryDividend |
| Mar 20, 2015 | $0.119 | OrdinaryDividend |
| Dec 19, 2014 | $1.031 | OrdinaryDividend |
| Sep 19, 2014 | $0.372 | OrdinaryDividend |
| Jun 20, 2014 | $0.444 | OrdinaryDividend |
| Mar 21, 2014 | $0.303 | OrdinaryDividend |
| Dec 20, 2013 | $0.916 | OrdinaryDividend |
| Dec 20, 2013 | $0.686 | CapitalGainShortTerm |
| Sep 20, 2013 | $0.442 | OrdinaryDividend |
| Jun 21, 2013 | $0.419 | OrdinaryDividend |
| Mar 15, 2013 | $0.148 | OrdinaryDividend |
SMLV - Fund Manager Analysis
Managers
Michael Feehily
Start Date
Tenure
Tenure Rank
Feb 20, 2013
9.28
9.3%
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, 2018
3.58
3.6%
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 |
|---|---|---|---|
| 0.08 | 49.61 | 7.18 | 2.58 |
