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Trending ETFs

State Street Target Retirement 2045 Fund

mutual fund
SSDEX
Payout Change
Pending
Price as of:
$15.76 -0.02 -0.13%
primary theme
Target-Date 2045
share class
R3 (SSAOX) I (SSDDX) K (SSDEX)
SSDEX (Mutual Fund)

State Street Target Retirement 2045 Fund

Payout Change
Pending
Price as of:
$15.76 -0.02 -0.13%
primary theme
Target-Date 2045
share class
R3 (SSAOX) I (SSDDX) K (SSDEX)
SSDEX (Mutual Fund)

State Street Target Retirement 2045 Fund

Payout Change
Pending
Price as of:
$15.76 -0.02 -0.13%
primary theme
Target-Date 2045
share class
R3 (SSAOX) I (SSDDX) K (SSDEX)

Name

As of 11/20/2024

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

State Street Target Retirement 2045 Fund

SSDEX | Fund

$15.76

$2.27 B

2.07%

$0.33

0.16%

Vitals

YTD Return

13.3%

1 yr return

21.0%

3 Yr Avg Return

2.8%

5 Yr Avg Return

9.0%

Net Assets

$2.27 B

Holdings in Top 10

100.2%

52 WEEK LOW AND HIGH

$15.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.16%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 17.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/20/2024

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

State Street Target Retirement 2045 Fund

SSDEX | Fund

$15.76

$2.27 B

2.07%

$0.33

0.16%

SSDEX - Profile

Distributions

  • YTD Total Return 13.3%
  • 3 Yr Annualized Total Return 2.8%
  • 5 Yr Annualized Total Return 9.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.32%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    State Street Target Retirement 2045 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 FM” or the “Adviser”), the investment adviser to the Fund, manages the Target Retirement 2045 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 2045 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
2045 Fund
State Street Equity 500 Index II Portfolio
35.16
%
State Street Small/Mid Cap Equity Index Portfolio
13.00
%
State Street Global All Cap Equity ex‑U.S. Index Portfolio
35.59
%
State Street Aggregate Bond Index Portfolio
6.25
%
SPDR Bloomberg 1‑10 Year TIPS ETF
0.00
%
SPDR Bloomberg High Yield Bond ETF
0.00
%
SPDR Dow Jones Global Real Estate ETF
0.00
%
SPDR Portfolio Long Term Treasury ETF
10.00
%
SPDR Portfolio Short Term Treasury ETF
0.00
%
SPDR Portfolio Short Term Corporate Bond ETF
0.00
%
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.
Read More

SSDEX - Performance

Return Ranking - Trailing

Period SSDEX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.3% 10.5% 23.0% 93.91%
1 Yr 21.0% 16.8% 26.1% 72.59%
3 Yr 2.8%* -2.0% 6.6% 88.27%
5 Yr 9.0%* 5.3% 11.1% 80.00%
10 Yr 8.2%* 5.7% 9.8% 48.04%

* Annualized

Return Ranking - Calendar

Period SSDEX Return Category Return Low Category Return High Rank in Category (%)
2023 14.4% 4.8% 21.3% 69.39%
2022 -23.0% -65.7% -14.5% 43.88%
2021 8.3% -4.7% 18.7% 47.59%
2020 14.6% 2.3% 15.5% 16.00%
2019 18.1% 8.2% 23.0% 53.16%

Total Return Ranking - Trailing

Period SSDEX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.3% 10.5% 23.0% 93.91%
1 Yr 21.0% 16.8% 26.1% 72.59%
3 Yr 2.8%* -2.0% 6.6% 88.27%
5 Yr 9.0%* 5.3% 11.1% 80.00%
10 Yr 8.2%* 5.7% 9.8% 48.04%

* Annualized

Total Return Ranking - Calendar

Period SSDEX Return Category Return Low Category Return High Rank in Category (%)
2023 18.6% 11.2% 37.0% 71.43%
2022 -18.7% -28.2% 0.1% 77.04%
2021 13.8% 4.2% 22.9% 94.65%
2020 19.3% 7.8% 23.2% 7.43%
2019 25.5% 21.3% 37.2% 44.94%

NAV & Total Return History

SSDEX - Holdings

Concentration Analysis

SSDEX Category Low Category High SSDEX % Rank
Net Assets 2.27 B 6.93 M 79.9 B 22.84%
Number of Holdings 6 2 586 90.86%
Net Assets in Top 10 2.42 B 9.98 M 84.8 B 22.84%
Weighting of Top 10 100.19% 42.4% 144.1% 5.29%

Top 10 Holdings

  1. State Street Equity 500 Index II Portfolio 36.20%
  2. State Street Global All Cap Equity ex-U.S. Index Portfolio 35.50%
  3. State Street Small/Mid Cap Equity Index Portfolio 12.42%
  4. SPDR Portfolio Long Term Treasury ETF 9.69%
  5. State Street Aggregate Bond Index Portfolio 6.18%
  6. State Street Institutional US Government Money Market Fund 0.19%

Asset Allocation

Weighting Return Low Return High SSDEX % Rank
Stocks 		100.00% 0.00% 100.07% 8.63%
Cash 		0.19% 0.00% 45.56% 47.72%
Convertible Bonds 		0.06% 0.00% 1.09% 78.17%
Preferred Stocks 		0.00% 0.00% 0.03% 93.91%
Other 		0.00% -0.02% 11.52% 90.36%
Bonds 		0.00% 0.00% 25.62% 94.42%

Stock Sector Breakdown

Weighting Return Low Return High SSDEX % Rank
Technology 		18.97% 14.05% 23.99% 49.75%
Financial Services 		15.70% 13.09% 18.83% 31.47%
Healthcare 		11.89% 10.69% 14.59% 76.65%
Industrials 		10.99% 9.12% 12.31% 32.49%
Consumer Cyclical 		10.93% 8.06% 13.31% 60.91%
Consumer Defense 		7.10% 4.68% 11.06% 25.89%
Communication Services 		6.88% 5.69% 10.23% 69.04%
Basic Materials 		5.49% 3.18% 6.86% 16.75%
Energy 		4.77% 2.33% 6.54% 30.46%
Real Estate 		4.26% 1.86% 10.17% 51.27%
Utilities 		3.00% 1.89% 8.09% 21.32%

Stock Geographic Breakdown

Weighting Return Low Return High SSDEX % Rank
US 		100.00% 0.00% 100.07% 8.63%
Non US 		0.00% 0.00% 38.46% 94.42%

SSDEX - Expenses

Operational Fees

SSDEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.16% 0.01% 19.43% 91.88%
Management Fee 0.05% 0.00% 0.89% 36.22%
12b-1 Fee 0.00% 0.00% 1.00% 10.87%
Administrative Fee 0.05% 0.01% 0.29% 16.28%

Sales Fees

SSDEX 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

SSDEX 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.

SSDEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.00% 0.42% 115.00% 35.20%

SSDEX - Distributions

Dividend Yield Analysis

SSDEX Category Low Category High SSDEX % Rank
Dividend Yield 2.07% 0.00% 6.14% 97.97%

Dividend Distribution Analysis

SSDEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

SSDEX Category Low Category High SSDEX % Rank
Net Income Ratio 2.32% -0.42% 3.87% 6.01%

Capital Gain Distribution Analysis

SSDEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

SSDEX - 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 5.7 2.41

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