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State Street Target Retirement 2025 Fund
mutual fund
SSBRX
Payout Change
Pending
Price as of:
$12.74
+0.04
+0.31%
primary theme
Target-Date 2025
share class
SSBRX (Mutual Fund)
State Street Target Retirement 2025 Fund
Payout Change
Pending
Price as of:
$12.74
+0.04
+0.31%
primary theme
Target-Date 2025
share class
SSBRX (Mutual Fund)
State Street Target Retirement 2025 Fund
Payout Change
Pending
Price as of:
$12.74
+0.04
+0.31%
primary theme
Target-Date 2025
share class
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
9.3%
1 yr return
15.4%
3 Yr Avg Return
1.6%
5 Yr Avg Return
6.3%
Net Assets
$2.02 B
Holdings in Top 10
103.3%
52 WEEK LOW AND HIGH
$12.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.43%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 24.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual 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
SSBRX - Profile
Distributions
- YTD Total Return 9.3%
- 3 Yr Annualized Total Return 1.6%
- 5 Yr Annualized Total Return 6.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.11%
- Dividend Yield 2.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameState Street Target Retirement 2025 Fund
-
Fund Family NameState Street Global Advisors - advised funds
-
Inception DateSep 30, 2014
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Narkiewicz
Fund Description
SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, manages the Target Retirement 2025 Fund using a proprietary asset allocation strategy. The Fund is a “fund of funds” that 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 is intended for investors expecting to retire around the year 2025 and who are likely to stop making new investments in the Fund at that time. The Fund is designed for an investor who plans to withdraw the value of the investor's account gradually following that date. The Adviser seeks to optimize the Fund's “glide path” for the wealth accumulation, wealth preservation, and income generation phases of retirement planning and includes adjustments in the critical years immediately preceding and following the retirement date. For example, a Fund with a target retirement date far into the future will typically invest a greater portion of its assets in asset classes with higher risk profiles and the potential for higher returns. As the target date for a Fund approaches, the Adviser will adjust the asset allocation and risk profile of the Fund – its glide path – to what is generally seen to be a more conservative approach to reduce (but not to eliminate) risk by increasing the allocation to asset classes that have historically been subject to lower levels of volatility. A fund intended for investors who have already achieved retirement age would typically invest a greater portion of its assets in bonds and cash items, with a relatively smaller allocation to equity securities.
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 glide path depicted in the chart below shows how the Fund's strategic target allocations among asset classes are expected generally to place more emphasis on fixed income investments and less on equity investments as the target retirement date approaches.
The glide path shows the Fund's long term strategic target allocations. The Fund's actual allocations may differ. The Adviser periodically reviews the Fund's target asset allocations and may, at any time, in its discretion, change the target asset allocations or deviate from the target asset allocations when it believes doing so is appropriate to pursue the Fund's investment objective. The glide path is presented only as an illustration of how the process of re-allocation occurs as the Fund approaches its target date.
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 2025 Fund |
| State Street Equity 500 Index II Portfolio | 22.37 % |
| State Street Small/Mid Cap Equity Index Portfolio | 4.85 % |
| State Street Global All Cap Equity ex‑U.S. Index Portfolio | 17.53 % |
| State Street Aggregate Bond Index Portfolio | 20.62 % |
| SPDR Bloomberg 1‑10 Year TIPS ETF | 16.78 % |
| SPDR Bloomberg High Yield Bond ETF | 6.91 % |
| SPDR Dow Jones Global Real Estate ETF | 4.63 % |
| SPDR Portfolio Long Term Treasury ETF | 0.75 % |
| SPDR Portfolio Short Term Treasury ETF | 4.45 % |
| SPDR Portfolio Short Term Corporate Bond ETF | 1.11 % |
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.
SSBRX - Performance
Return Ranking - Trailing
| Period | SSBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.3% | 4.9% | 13.4% | 49.44% |
| 1 Yr | 15.4% | 10.5% | 19.4% | 45.00% |
| 3 Yr | 1.6%* | -3.6% | 3.9% | 39.66% |
| 5 Yr | 6.3%* | 1.3% | 7.5% | 16.77% |
| 10 Yr | 6.5%* | 2.1% | 7.0% | 9.90% |
* Annualized
Return Ranking - Calendar
| Period | SSBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.6% | 1.0% | 14.0% | 61.08% |
| 2022 | -20.7% | -33.6% | -9.0% | 62.70% |
| 2021 | 3.4% | -6.6% | 12.9% | 34.86% |
| 2020 | 9.5% | -8.5% | 13.1% | 15.57% |
| 2019 | 13.3% | 4.3% | 17.0% | 38.06% |
Total Return Ranking - Trailing
| Period | SSBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.3% | 4.9% | 13.4% | 49.44% |
| 1 Yr | 15.4% | 10.5% | 19.4% | 45.00% |
| 3 Yr | 1.6%* | -3.6% | 3.9% | 39.66% |
| 5 Yr | 6.3%* | 1.3% | 7.5% | 16.77% |
| 10 Yr | 6.5%* | 2.1% | 7.0% | 9.90% |
* Annualized
Total Return Ranking - Calendar
| Period | SSBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.6% | 8.0% | 20.3% | 44.32% |
| 2022 | -15.5% | -24.5% | 1.1% | 58.92% |
| 2021 | 10.0% | -0.2% | 17.0% | 48.57% |
| 2020 | 14.7% | -6.6% | 18.0% | 15.57% |
| 2019 | 20.8% | 15.9% | 23.7% | 12.26% |
NAV & Total Return History
SSBRX - Holdings
Concentration Analysis
| SSBRX | Category Low | Category High | SSBRX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.02 B | 9.62 M | 76.5 B | 24.73% |
| Number of Holdings | 12 | 4 | 824 | 77.96% |
| Net Assets in Top 10 | 2.06 B | 4.89 M | 76.3 B | 21.51% |
| Weighting of Top 10 | 103.29% | 47.7% | 103.3% | 0.55% |
Top 10 Holdings
- State Street Equity 500 Index II Portfolio 23.08%
- State Street Aggregate Bond Index Portfolio 20.44%
- State Street Global All Cap Equity ex-U.S. Index Portfolio 17.52%
- SPDR Bloomberg 1-10 Year TIPS ETF 17.20%
- SPDR Bloomberg High Yield Bond ETF 6.94%
- SPDR Dow Jones Global Real Estate ETF 4.81%
- State Street Small/Mid Cap Equity Index Portfolio 4.65%
- SPDR Portfolio Short Term Treasury ETF 4.60%
- State Street Navigator Securities Lending Portfolio II 2.85%
- SPDR Portfolio Short Term Corporate Bond ETF 1.20%
Asset Allocation
| Weighting | Return Low | Return High | SSBRX % Rank | |
|---|---|---|---|---|
| Stocks | 100.94% | 0.00% | 100.94% | 0.54% |
| Cash | 2.91% | 0.00% | 50.45% | 16.13% |
| Convertible Bonds | 0.38% | 0.01% | 3.27% | 75.81% |
| Preferred Stocks | 0.00% | 0.00% | 0.04% | 36.02% |
| Other | 0.00% | -0.06% | 7.03% | 47.85% |
| Bonds | 0.00% | 0.00% | 61.92% | 57.53% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SSBRX % Rank | |
|---|---|---|---|---|
| Technology | 18.03% | 13.93% | 23.93% | 63.98% |
| Financial Services | 14.42% | 12.41% | 19.06% | 70.43% |
| Healthcare | 11.28% | 10.77% | 15.01% | 90.86% |
| Real Estate | 10.68% | 1.86% | 14.43% | 5.38% |
| Consumer Cyclical | 10.19% | 8.02% | 13.41% | 69.89% |
| Industrials | 9.90% | 8.30% | 12.73% | 76.88% |
| Consumer Defense | 6.76% | 4.91% | 11.03% | 47.85% |
| Communication Services | 6.67% | 5.69% | 9.94% | 67.74% |
| Basic Materials | 4.87% | 3.15% | 7.09% | 37.10% |
| Energy | 4.40% | 2.40% | 7.33% | 48.39% |
| Utilities | 2.80% | 1.89% | 8.11% | 54.30% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SSBRX % Rank | |
|---|---|---|---|---|
| US | 100.94% | 0.00% | 100.94% | 0.54% |
| Non US | 0.00% | 0.00% | 22.21% | 42.47% |
SSBRX - Expenses
Operational Fees
| SSBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.43% | 0.05% | 22.74% | 77.30% |
| Management Fee | 0.05% | 0.00% | 0.79% | 32.40% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 1.15% |
| Administrative Fee | 0.05% | 0.01% | 0.28% | 12.90% |
Sales Fees
| SSBRX 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% | 4.00% | N/A |
Trading Fees
| SSBRX 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.
| SSBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 24.00% | 1.50% | 97.00% | 30.95% |
SSBRX - Distributions
Dividend Yield Analysis
| SSBRX | Category Low | Category High | SSBRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.76% | 0.00% | 7.34% | 38.17% |
Dividend Distribution Analysis
| SSBRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| SSBRX | Category Low | Category High | SSBRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.11% | 0.27% | 3.72% | 75.14% |
Capital Gain Distribution Analysis
| SSBRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 27, 2023 | $0.350 | OrdinaryDividend |
| Dec 27, 2023 | $0.000 | CapitalGainShortTerm |
| Dec 27, 2023 | $0.184 | CapitalGainLongTerm |
| Dec 28, 2022 | $0.706 | OrdinaryDividend |
| Dec 29, 2021 | $0.869 | OrdinaryDividend |
| Dec 30, 2020 | $0.619 | OrdinaryDividend |
| Dec 30, 2019 | $0.327 | OrdinaryDividend |
| Dec 30, 2019 | $0.001 | CapitalGainShortTerm |
| Dec 30, 2019 | $0.457 | CapitalGainLongTerm |
| Dec 28, 2018 | $0.275 | CapitalGainLongTerm |
| Dec 28, 2018 | $0.288 | OrdinaryDividend |
| Dec 26, 2017 | $0.017 | CapitalGainShortTerm |
| Dec 26, 2017 | $0.054 | CapitalGainLongTerm |
| Dec 26, 2017 | $0.227 | OrdinaryDividend |
| Dec 27, 2016 | $0.008 | CapitalGainShortTerm |
| Dec 27, 2016 | $0.019 | CapitalGainLongTerm |
| Dec 27, 2016 | $0.164 | OrdinaryDividend |
| Dec 28, 2015 | $0.025 | CapitalGainShortTerm |
| Dec 28, 2015 | $0.004 | CapitalGainLongTerm |
| Dec 28, 2015 | $0.203 | OrdinaryDividend |
| Dec 29, 2014 | $0.040 | OrdinaryDividend |
SSBRX - 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 | 5.93 | 2.41 |
