Home   »   Mutual Funds :  State Street Hedged International Developed Equity Index Fund - Class K (SSHQX)
SSHQX

State Street Hedged International Developed Equity Index Fund - Class K

Fund Objective

The State Street Hedged International Developed Equity Index Fund seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a broad-based developed market (ex-U.S. and Canada) large and mid capitalization equity index, hedged to the U.S. dollar, over the long term.

Fund Information

As of   04/23/2018
Ticker Symbol SSHQX
Primary Benchmark MSCI EAFE 100% Hedged to USD Index
CUSIP 857492417
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.

0.35%
Net Expense Ratio

^The Fund's investment adviser, SSGA Funds Management, Inc. is contractually obligated until April 30, 2018 to waive its management fee and/or to reimburse the Fund for expenses to the extent that total expenses (exclusive of nonrecurring account fees, extraordinary expenses, acquired fund fees and expenses other than the fees of the State Street International Developed Equity Index Portfolio, and any class specific expenses  such as distribution, shareholder servicing, administration, and sub-transfer agency fees) exceed 0.15% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2018 except with the approval of the Fund's Board of Trustees.

0.20%
Inception Date 05/29/2015
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annual
Exchange NASDAQ REGULAR MARKET

Fund Characteristics

As of   03/31/2018
Dividend Yield 3.16%
Est. 3-5 Year EPS Growth

Estimated 3-5 Year EPS Growth 

Based on the underlying holdings of the fund. The actual earnings estimates for the underlying holdings are provided by FactSet, First Call, I/B/E/S Consensus, and Reuters and are used to calculate a mean 3-5 year EPS growth rate estimate.

10.60%
Number of Holdings

*Calculated based on the holdings of the State Street International Developed Equity Index Portfolio.

968
Price/Book Ratio

Price/Book Ratio

The weighted harmonic average of closing market price divided by the most recent reported book value for each security in the fund’s portfolio as calculated for the last twelve months.

1.62
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

The weighted harmonic average of current share price divided by the forecasted one year earnings per share for each security in the fund. Negative and positive outliers are included in the calculation.

14.05
Weighted Average Market Cap $56,993.20 M

Yields

As of   04/20/2018
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.

2.50%
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.

2.34%

Fund Net Asset Value

NAV

Market value of a mutual fund's and ETF's total assets, minus liabilities, divided by the number of shares outstanding

As of   04/20/2018
NAV $10.30
Percent Change -0.10%
Price Change -$0.01
Shares Outstanding 306.56 M
Total Net Assets $3,157.01 M

Fund Documents

Fund Performance

NAV Month End
As of  03/31/2018
NAV Quarter End
As of  03/31/2018
1 Month -1.08% -1.08%
QTD -3.56% -3.56%
YTD -3.56% -3.56%
1 Year 7.32% 7.32%
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Inception 
3.06% 3.06%

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.

Purchase Information

Minimum Investments
Initial $10,000,000.00
Initial AIP $100.00
Additional AIP $100.00

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.
225 Franklin Street, Boston, MA 02110
ABA# 0110-0002-8
DDA#9904-631-0
Attn: State Street Hedged International Developed Equity 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
1-800-647-7327

Performance Chart

Annualized
As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
05/29/2015
Month End
Fund at NAV 03/31/2018 -1.08% -3.56% -3.56% 7.32% N/A N/A N/A 3.06%
MSCI EAFE 100% Hedged to USD Index 03/31/2018 -2.04% -3.76% -3.76% 7.07% N/A N/A N/A 3.45%
Quarter End
Fund at NAV 03/31/2018 -1.08% -3.56% -3.56% 7.32% N/A N/A N/A 3.06%
MSCI EAFE 100% Hedged to USD Index 03/31/2018 -2.04% -3.76% -3.76% 7.07% N/A N/A N/A 3.45%

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: 0.35%

Net Expense Ratio: 0.20%

Performance Graphs

Quarter End as of 03/31/2018

Fund Inception Date: 05/29/2015

Index Inception Date: 12/31/1992

<performance fundPerfNavName="Fund at NAV" bmarkName="MSCI EAFE 100% Hedged to USD Index"><funds><field>1 Month</field><fund>-1.08</fund><index>-2.04</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>-3.56</fund><index>-3.76</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>-3.56</fund><index>-3.76</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>7.32</fund><index>7.07</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>3.06</fund><index>3.45</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

*Calculated based on the holdings of the State Street International Developed Equity Index Portfolio.

Subject to change.

As of   03/31/2018
Name Weight
STATE STREET INTERNATIONAL DEVELOPED EQUITY INDEX PORTFOLIO 96.62 %
Download All Holdings XLS

Fund Sector Allocation

*Calculated based on the holdings of the State Street International Developed Equity Index Portfolio.

As of  03/31/2018
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>03/31/2018</asOfDate><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>21.09</rawValue><value>21.09%</value><label>Financials</label><order>1</order></attribute><attribute><rawValue>14.63</rawValue><value>14.63%</value><label>Industrials</label><order>2</order></attribute><attribute><rawValue>12.61</rawValue><value>12.61%</value><label>Consumer Discretionary</label><order>3</order></attribute><attribute><rawValue>11.11</rawValue><value>11.11%</value><label>Consumer Staples</label><order>4</order></attribute><attribute><rawValue>10.12</rawValue><value>10.12%</value><label>Health Care</label><order>5</order></attribute><attribute><rawValue>8.03</rawValue><value>8.03%</value><label>Materials</label><order>6</order></attribute><attribute><rawValue>6.49</rawValue><value>6.49%</value><label>Information Technology</label><order>7</order></attribute><attribute><rawValue>5.3</rawValue><value>5.30%</value><label>Energy</label><order>8</order></attribute><attribute><rawValue>3.86</rawValue><value>3.86%</value><label>Telecommunication Services</label><order>9</order></attribute><attribute><rawValue>3.52</rawValue><value>3.52%</value><label>Real Estate</label><order>10</order></attribute><attribute><rawValue>3.24</rawValue><value>3.24%</value><label>Utilities</label><order>11</order></attribute></attributes></component>

Fund Country Weights

*Calculated based on the holdings of the State Street International Developed Equity Index Portfolio.

As of  03/31/2018
Japan 24.59%
United Kingdom 17.28%
France 10.94%
Germany 9.70%
Switzerland 7.81%
Australia 6.59%
Netherlands 3.64%
Hong Kong 3.62%
Spain 3.25%
Sweden 2.68%
Italy 2.46%
Denmark 1.78%
Singapore 1.36%
Belgium 1.16%
Finland 1.04%
Norway 0.65%
Israel 0.44%
Ireland 0.43%
Austria 0.26%
New Zealand 0.16%
Portugal 0.14%

Unless otherwise noted all information contained herein is that of the State Street Hedged International Developed Equity Index Fund - Class K.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based.  The Prospectus contains a more detailed description of the limited relationship MSCI has with SSGA Funds Management, Inc and any related funds.

Global Equity Beta Solutions

Co-Head, Global Equity Beta Solutions Michael J. Feehily Senior Managing Director Show Bio

Mike is a Senior Managing Director and the Head of Global Equity Beta Solutions in the Americas. He is also a member of the Senior Leadership Team and is a voting member on the firm's Trade Management Oversight Committee and the North America Product Committee.

Mike rejoined SSGA in 2010 after spending four years in State Street Global Markets where he helped to build the Global Exposure Solutions business. This group created and managed portfolios that were designed to meet the short-term market exposure needs of our institutional clients. Prior to this Mike had been Head of the US Passive Equity Team within SSGA, which he originally joined in 1997. He began his career at State Street within the Global Services division in 1992.

Mike received a Bachelor of Science Degree from Babson College in Finance, Investments, and Economics. He received an MBA in Finance from Bentley College and also earned the Chartered Financial Analyst designation. He is a member of the CFA Institute and the Boston Security Analysts Society. Mike is also a former member of the Russell Index Client Advisory Board.

Deputy Head of GEBS - Americas Karl A. Schneider Managing Director Show Bio

Karl Schneider, CAIA, is a Managing Director of SSGA and Deputy Head of Global Equity Beta Solutions (GEBS) in the Americas. He also serves as a senior 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 US equity strategies and synthetic beta strategies, including commodities, buy/write, and hedge fund replication. He is also a member of the S&P Dow Jones US Equities Index Advisory Panel.

Prior to joining the GEBS team, 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 1997.

Mr. Schneider holds a BS in Finance and Investments from Babson College and also an MS in Finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation and is a member of the CAIA Association.

Senior Portfolio Manager David Chin Vice President Show Bio

David is a Vice President and Senior Portfolio Manager in the Global Equity Beta Solutions team at State Street Global Advisors. He is responsible for managing both U.S. and International funds. Prior to joining SSGA in 1999, David was a product analyst in the Analytical Services Group at Frank Russell Company. Before this, he worked at OneSource Information Systems developing investment software. Preceding this, he was affiliated with PanAgora Asset Management in the Research and Development group creating quantitative investment models for international equities. David has been working in the investment management field since 1992.

David holds a BS in Management Information Systems from the University of Massachusetts/Boston and an MBA from the University of Arizona.

MSCI EAFE 100% Hedged to USD Index

The MSCI EAFE 100% Hedged to USD Index represents a close estimation of the performance that can be achieved by hedging the currency exposures of its parent index, the MSCI EAFE Index, to the USD, the "home" currency for the hedged index. The index is 100% hedged to the USD by selling each foreign currency forward at the one-month Forward weight. The parent index is composed of large and mid cap stocks across 21 developed markets countries and its local performance is calculated in 13 different currencies, including the Euro.

Important Risk Information

Risk associated with equity investing include stock values which may fluctuate in response to the activities of individual companies and general market and economic conditions.

Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets.

Currency Risk is a form of risk that arises from the change in price of one currency against another. Whenever investors or companies have assets or business operations across national borders, they face currency risk if their positions are not hedged.

Hedging involves taking offsetting positions intended to reduce the volatility of an asset. If the hedging position behaves differently than expected, the volatility of the strategy as a whole may increase and even exceed the volatility of the asset being hedged.

Investments in small/mid-sized companies may involve greater risks than in those of larger, better known companies, but may be less volatile than investments in smaller companies.

Companies with large market capitalizations go in and out of favor based on market and economic conditions. Larger companies tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the value of the security may not rise as much as companies with smaller market capitalizations

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

Passively managed funds invest by sampling the index, holding a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.

These investments may have difficulty in liquidating an investment position without taking a significant discount from current market value, which can be a significant problem with certain lightly traded securities.