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SSMLX

State Street Small/Mid Cap Equity Index Fund - Class I

Fund Objective

The State Street Small/Mid Cap Equity Index Fund  seeks to provide investment results that, before expenses, correspond generally to the total return of an index that tracks the performance of mid to small capitalization exchange traded U.S. equity securities.

Fund Information

As of   02/25/2017
Ticker Symbol SSMLX
Primary Benchmark Russell Small Cap Completeness Index
CUSIP 857492250
Gross Expense Ratio

The gross expense ratio is 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.

5.06%
Net Expense Ratio

The Fund’s investment adviser, SSGA Funds Management, Inc., is contractually obligated until April 30, 2017 to waive its management fee and/or to reimburse the Fund for expenses to the extent that the total expenses (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and expenses, and any class-specific expenses such as distribution, shareholder servicing, administration and sub-transfer agency fees) exceed 0.03% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2017 except with the approval of the Fund’s Board of Trustees.

0.28%
Inception Date 10/15/2015
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor State Street Global Markets, LLC
Distribution Frequency Annual
Exchange NASDAQ REGULAR MARKET

Fund Characteristics

As of   01/31/2017
Dividend Yield 1.43%
Est. 3-5 Year EPS Growth

The 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.

11.42%
Number of Holdings 2,457
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.

2.32
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

Closing price divided by the sum of the forecasted fiscal year earnings per share.

19.80
Weighted Average Market Cap $5,848.56 M

Yields

As of   02/23/2017
30 Day SEC Yield

30 Day SEC Yield (Standardized Yield) 

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price.

0.79%
30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized Yield)

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price that does not take into account expense ratio subsidizations.

-0.23%

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   02/23/2017
NAV $11.17
Percent Change -0.62%
Price Change -$0.07
Shares Outstanding 65,534
Total Net Assets $732,121.76

Fund Documents

Fund Performance

NAV Month End
As of  01/31/2017
NAV Quarter End
As of  12/31/2016
1 Month 1.97% 1.77%
QTD 1.97% 5.75%
YTD 1.97% 15.96%
1 Year 29.96% 15.96%
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Inception 
7.30% 6.26%

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 $1,000,000.00
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: SSGA (State Street Small/Mid Cap Equity Index Fund - Class I)
Account Number and Registration
Dollar Amount Per Account (if one wire is to cover more than one purchase)

Correspondence Information
SSGA Funds
One Lincoln Street
Boston, MA 02111-2900
1-800-647-7327

Performance Chart

Annualized
As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
08/11/2015
Month End
Fund at NAV 01/31/2017 1.97% 1.97% 1.97% 29.96% N/A N/A N/A 7.30%
Russell Small Cap Completeness Index 01/31/2017 1.97% 1.97% 1.97% 30.11% N/A N/A N/A 7.47%
Quarter End
Fund at NAV 12/31/2016 1.77% 5.75% 15.96% 15.96% N/A N/A N/A 6.26%
Russell Small Cap Completeness Index 12/31/2016 1.76% 5.78% 16.59% 16.59% N/A N/A N/A 6.43%

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: 5.06%

Net Expense Ratio: 0.28%

Performance Graphs

Month End as of 01/31/2017

Fund Inception Date: 08/11/2015

Index Inception Date: 12/31/1979

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Fund Top Holdings

Subject to change.

Subject to change.

As of   01/31/2017
Name Weight
Tesla Inc 0.71 %
Incyte Corporation 0.45 %
Las Vegas Sands Corp. 0.44 %
T-Mobile US Inc. 0.41 %
BioMarin Pharmaceutical Inc. 0.34 %
ServiceNow Inc. 0.33 %
First Republic Bank 0.32 %
Dell Technologies Inc. Class V 0.31 %
FleetCor Technologies Inc. 0.31 %
MGM Resorts International 0.31 %
Download All Holdings XLS

Fund Sector Allocation

As of  01/31/2017
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Unless otherwise noted all information contained herein is that of the State Street Small/Mid Cap Equity Index Fund - Class I. 

The Russell 1000® Index, Russell 2000® Index, Russell 3000® Index, and Russell Small Cap Completeness® Index are trademarks of Russell Investment Group and have been licensed for use by State Street Bank and Trust Company through its State Street Global Advisors Division. The Products are not sponsored, endorsed, sold or promoted by Russell Investment Group and Russell Investment Group makes no representation regarding the advisability of investing in the Product.

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, is the Chairperson for the firm's Trade Management Oversight Committee, and is a voting member on 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.

Portfolio Manager Karl A. Schneider Vice President Show Bio

Karl Schneider, CAIA, is a Vice President 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 Ted Janowsky Vice President Show Bio

Ted is a Vice President of State Street Global Advisors and a Senior Portfolio Manager within the Global Equity Beta Solutions team. In this capacity, he manages a diverse group of equity and derivative-based index portfolios and has played a significant role designing our proprietary portfolio management software. Additionally, Ted is head of Company Stock Groups' portfolio management team, which manages all fiduciary transactions and company stock investments including employee stock ownership plans, 401(k) plans, defined benefit plans and non-qualified plans.

Prior to joining the Global Equity Beta Solutions team, Ted worked as an application developer in Investor Technology Services within State Street Corporation. He also worked as a business analyst in State Street's London and Sydney offices.

Ted holds a Bachelor of Science degree in Business Administration from Bucknell University and a MBA from the Carroll School of Graduate Management at Boston College. He has also earned the Chartered Financial Analyst designation and is a member of the CFA Institute and the Boston Security Analysts Society.

Russell Small Cap Completeness Index

The Russell Small Cap Completeness® Index is a float-adjusted, market capitalization index which measures the performance of the Russell 3000® Index companies excluding S&P 500® constituents. The Index is constructed to provide a comprehensive and unbiased barometer of the extended broad market beyond the S&P 500 exposure. The Index is completely reconstituted annually.

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.

Investments in small-sized, mid-sized and micro-cap companies may involve greater risks than in those of larger, better known companies.

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.

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