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State Street Aggregate Bond Index Fund - Class K

Fund Objective

The State Street Aggregate Bond Index Fund (the "Fund") seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the U.S. dollar denominated investment grade bond market over the long term.

Fund Information

As of   09/25/2020
Ticker Symbol SSFEX
Primary Benchmark Bloomberg Barclays U.S. Aggregate Bond Index
CUSIP 85749T871
Options Available No
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

Net Expense Ratio

^The Fund's investment adviser, SSGA Funds Management, Inc. is contractually obligated until April 30, 2021 (i) to waive up to the full amount of the advisory fee payable by the Fund and/or (ii) to reimburse the Fund for expenses to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and any class-specific expenses, such as distribution, shareholder servicing, sub-transfer agency and administration fees) exceed 0.025% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2021 except with approval of the Fund's Board of Trustees.

Inception Date 09/19/2014
Investment Manager SSGA Funds Management, Inc.
Management Team Global Fixed Income, Cash and Currency
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Monthly

Fund Characteristics

As of   08/31/2020
Average Yield To Worst

The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

Effective Average Maturity 8.09 years
Number of Holdings 3,604
Portfolio Duration

Portfolio Duration

An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates.  Calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps.  Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

6.12 years


As of   09/24/2020
30 Day SEC Yield

30 Day SEC Yield

(Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized)

An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price that does not account for expense ratio waivers.


Fund Net Asset Value


The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

As of   09/24/2020
NAV $106.22
Shares Outstanding 2.67 M
Total Net Assets $283.20 M

Fund Documents

Fund Performance

NAV Month End
As of  08/31/2020
NAV Quarter End
As of  06/30/2020
1 Month -0.81% 0.65%
QTD 0.67% 3.12%
YTD 7.19% 6.47%
1 Year 6.67% 8.96%
3 Year 5.08% 5.31%
5 Year 4.23% 4.20%
10 Year N/A N/A
3.95% 3.95%

Performance quoted represents past performance, which is no guarantee of future results.  Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold.  Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Purchase Information

Brokerage Availability
SSGA Funds are available through most major broker/dealer and supermarket platforms. If you are an investment advisor and have questions regarding platform availability, please call 800-997-7327. Otherwise, please call 877-521-4083.

To Purchase by wire
You may make initial or subsequent investments by wiring federal funds to State Street, as Transfer Agent by:

1. Telephoning the Customer Service Department at 1-800-647-7327 between 8:00 a.m. and 4:00 p.m., Eastern Time, and stating: (a) your account registration number, address and social security or tax identification number, (b) the name of the fund in which the investment is to be made and the account number, and (c) the exact amount being wired.

2. Instructing the wiring bank to wire federal funds to:
State Street Bank and Trust Co.
Boston, MA 02110
ABA# 0110-0002-8
Attn: SSGA (State Street Aggregate Bond Index Fund - Class K)
Account Number and Registration
Dollar Amount Per Account (if one wire is to cover more than one purchase)

Correspondence Information
SSGA Funds
1 Iron Street
Boston, MA 02210

Performance Chart

As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Month End
Fund at NAV 08/31/2020 -0.81% 0.67% 7.19% 6.67% 5.08% 4.23% N/A 3.95%
Bloomberg Barclays U.S. Aggregate Bond Index 08/31/2020 -0.81% 0.67% 6.85% 6.47% 5.09% 4.33% N/A 4.06%
Quarter End
Fund at NAV 06/30/2020 0.65% 3.12% 6.47% 8.96% 5.31% 4.20% N/A 3.95%
Bloomberg Barclays U.S. Aggregate Bond Index 06/30/2020 0.63% 2.90% 6.14% 8.74% 5.32% 4.30% N/A 4.06%

Performance quoted represents past performance, which is no guarantee of future results.  Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold.  Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Gross Expense Ratio: 0.255%

Net Expense Ratio: 0.025%

Performance Graphs

Quarter End as of 06/30/2020

Fund Inception Date: 09/19/2014

Index Inception Date: 01/01/1986

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Fund Top Holdings

Subject to change.

As of   08/31/2020
Name Weight
US/T 36.82 %
FNMA 11.49 %
FHLMC 7.36 %
GNMA 6.17 %
FNCL 1.58 %
BAC 0.66 %
FHMS 0.66 %
G2SF 0.63 %
JPM 0.61 %
T 0.51 %
Download All Holdings XLS

Fund Sector Allocation

As of  08/31/2020
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Unless otherwise noted all information contained herein is that of the State Street Aggregate Bond Index Fund - Class K

Intellectual Property Information: BLOOMBERG®, a trademark and service mark of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a trademark and service mark of Barclays Bank Plc.

Global Fixed Income, Cash and Currency

Portfolio Manager Joanna Madden Vice President Show Bio

Joanna Madden is a Vice President at State Street Global Advisors and a Portfolio Manager in the Fixed Income Beta Solutions team since 2013.

Previously, she was a Portfolio Manager within the US Cash Management Group responsible for short term liquidity investments across all the cash and securities lending portfolios managed in Boston. She joined the Boston group in April 2010 after working as a Portfolio Manager with the London Cash Management Group.

Prior to her portfolio management role, she was a Product Analyst for the London Cash Management Group where she provided analytical and business support. Before joining SSGA in London, Joanna worked as an Operations Specialist supporting the Boston Cash Management Group.

Joanna received a Bachelor of Science degree in Political Science from Loyola University of Chicago, Illinois.

Senior Portfolio Manager Marc DiCosimo Vice President Show Bio

Marc DiCosimo is a Vice President of SSGA and a Senior Portfolio Manager in the Fixed Income Group. He joined SSGA in 2013.

Prior to joining SSGA, Mr. DiCosimo worked at Wellington Management as a Fixed Income Portfolio Analyst on the Mortgage Backed Securities team. Mr. DiCosimo has 20 years of fixed income experience working at Loomis Sayles and Saxon Mortgage Capital.

Mr. DiCosimo graduated from The University of Richmond with a degree in accounting. He is a Chartered Financial Analyst and is a member of the CFA Institute and Boston Securities Analysts Society. He is a co-chair of the Mortgage Securitization Council of the Association of Institutional Investors.

Credit Portfolio Manager Bradley Sullivan Portfolio Manager Show Bio

Bradley J. Sullivan is a Vice President and Sr. Portfolio Manager in State Street Global Advisors on the Fixed Income, Currency and Cash Investments team where he manages corporate credit beta portfolios for ETFs, commingled funds and separately managed accounts.

Prior to joining SSGA, Mr. Sullivan was a Senior Research Analyst at State Street Bank and Trust where he covered the Healthcare, Pharmaceutical, Chemicals, Retail and Power/ Utilities sectors for the corporate credit and leveraged loan portfolios. Mr. Sullivan joined State Street in 2013 to launch a multibillion dollar leveraged loan fund within the corporate credit team which managed more than $9B in committed proprietary capital. Prior to joining State Street, Mr. Sullivan was the Assistant Portfolio Manager in the Leveraged Finance Group for MetLife Investments. The team managed more than $12B across leveraged loan and high yield credit portfolios on a total return mandate. Mr. Sullivan joined MetLife Investments in 2007 as a Credit Research Analyst covering the corporate Healthcare, Technology, and Beverage sectors within the Global Fixed Income Research Group. In 2003, Mr. Sullivan received his formal credit training in the Brown Brothers Harriman Banking Analyst Program in Boston on the Medical Technology team.

Mr. Sullivan earned his Bachelors of Science Management degree in Accounting and Finance from Tulane University and a Master's in Business Administration from the Colgate Darden Graduate School of Business at the University of Virginia. Mr. Sullivan is a CFA charterholder.

Senior Portfolio Manager John Mele Vice President Show Bio

John is a Vice President, Senior Portfolio Manager on the Fundamental Active Investment Grade Credit Team. He is responsible for the investment grade credit allocation within several actively managed fixed income strategies.

John joined SSGA in 2016 as part of the State Street Global Advisors acquisition of GE Asset Management (GEAM). He also held roles in Private Equity and Finance while with GEAM.

Prior to joining GEAM, John worked at Citigroup as a Portfolio Manager/Research Analyst in Citigroup's Private Client Group. His responsibilities included managing discretionary equity and balanced portfolios for high net worth clients. John's prior work experience also includes several years in investment management compliance and investment product development.

John holds a BS in accounting from the University of Connecticut, a Juris Doctor from Quinnipiac University and an MBA with specializations in Economics and Finance from New York University ' Stern School of Business.

Junior Portfolio Manager April Borawski Officer Show Bio

April currently works as a Junior Portfolio Manager on SSGA's Cash Management Team where she focuses on Rates portfolios. Previously, April worked as a Fixed Income Portfolio Specialist where she served as a subject matter expert by providing clients, prospects and consultants with time sensitive information about the investment philosophy, process, and performance of specific Global Fixed Income products.

Prior to her time at SSGA, April was a member of State Street's Professional Development Program, focusing on Data and Analytics.

April studied International Business, Finance, Marketing and Spanish at Northeastern University, graduating summa cum laude.

Bloomberg Barclays U.S. Aggregate Bond Index

The Bloomberg Barclays U.S. Aggregate Bond Index provides a measure of the performance of the U.S. dollar denominated investment grade bond market, which includes investment grade (must be Baa3/BBB- or higher using the middle rating of Moody's Investor Service, Inc., Standard & Poor's, and Fitch Inc.) government bonds, investment grade corporate bonds, mortgage pass through securities, commercial mortgage backed securities and asset backed securities that are publicly for sale in the United States. The securities in the Bloomberg Barclays U.S. Aggregate Bond Index must have at least 1 year remaining to maturity and must have $300 million or more of outstanding face value. Asset backed securities must have a minimum deal size of $500 million and a minimum tranche size of $25 million. For commercial mortgage backed securities, the original aggregate transaction must have a minimum deal size of $500 million, and a minimum tranche size of $25 million; the aggregate outstanding transaction sizes must be at least $300 million to remain in the index. In addition, the securities must be U.S. dollar denominated, fixed rate, non convertible, and taxable. Certain types of securities, such as flower bonds, TINs, and state and local government series bonds are excluded from the Bloomberg Barclays U.S. Aggregate Bond Index. Also excluded from the Bloomberg Barclays U.S. Aggregate Bond Index are structured notes with embedded swaps or other special features, private placements, floating rate securities and Eurobonds. The Bloomberg Barclays U.S. Aggregate Bond Index is market capitalization weighted and the securities in the Index are updated on the last business day of each month.

Important Risk Information

The values of debt securities may decrease as a result of many factors, including, by way of example, general market fluctuations; increases in interest rates; actual or perceived inability or unwillingness of issuers, guarantors or liquidity providers to make scheduled principal or interest payments; illiquidity in debt securities markets; and prepayments of principal, which often must be reinvested in obligations paying interest at lower rates. Investments in mortgage securities are subject to prepayment risk, which can limit the potential for gain during a declining interest rate environment and increase the potential for loss in a rising interest rate environment.

Derivative investments may involve risks such as potential illiquidity of the markets and additional risk of loss of principal.