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Concentrated investments in a particular sector or industry tend to be more volatile than the overall market and increases risk that events negatively affecting such sectors or industries could reduce returns, potentially causing the value of the Fund’s shares to decrease. 

Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Investing in foreign domiciled securities may involve risk of capital loss from unfavorable fluctuation in currency values, withholding taxes, from differences in generally accepted accounting principles or from economic or political instability in other nations.

NAV USD (Official NAV)
as of 18 Jul 2024
Base Fund Currency
1 Day Nav Change
-$0,96 (-1,44%)
as of 18 Jul 2024
Assets Under Management
$506,46 M
as of 18 Jul 2024
as of 30 Jun 2024

Fund Objective

The investment objective of the Fund is to track the performance of US small capitalisation equities with a higher weighting applied to equities exhibiting low valuation characteristics.

Index Description

The MSCI USA Small Cap Value Weighted Index is based on the traditional market capitalisation weighted parent index, the MSCI USA Small Cap Index, which includes US small cap equities. The value methodology of the Index is to re-weight each security in the parent index to emphasise those stocks with lower valuations within the parent index.

Fund Information as of 19 Jul 2024

iNAV Ticker

*These ticker codes are representative of the primary listing exchange.

Inception Date 18 Feb 2015
Countries of Registration Austria, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, United Kingdom
Base Fund Currency USD
Income Treatment Accumulation
Settlement Cycle Redemption Settlement Cycle, DD+1; Subscription Settlement Cycle, DD+1
Trading Cycle DD
TER 0,30%
Benchmark MSCI USA Small Cap Value Weighted Index
Minimum Investment 1 Share
Trading Currency EUR, USD
UCITS Compliant Yes
Domicile Ireland
Investment Manager State Street Global Advisors Europe Limited
Sub-Investment Manager(s)

State Street Global Advisors Trust Company

Fund Umbrella SSGA SPDR ETFs Europe II plc
Replication Method Optimised
Distribution Frequency -
PEA Eligible No
ISA Eligible Yes
SIPP Eligible Yes
UK Reporting Status Yes
Securities Lending Yes

Listing and Ticker Information as of 19 Jul 2024

Exchange Trading Currency Listing Date Exchange Ticker SEDOL Code Bloomberg Code Reuters Code
Deutsche Börse (Primary) EUR 19 Feb 2015 ZPRV BSPLC85 ZPRV GY ZPRV.DE
London Stock Exchange USD 20 Feb 2015 USSC BSPLC41 USSC LN USSC.L


Estimated NAV per Unit at 4PM, Hong Kong as of
Estimated NAV per Unit as of (Updated every 15 seconds)
As of (Updated every 15 seconds)

The Indicative NAV per share should not be viewed as the actual NAV per share. The Indicative NAV per share is provided for reference purposes only and may differ from the actual NAV per share calculated in accordance with the Prospectus.

Fund Characteristics as of 18 Jul 2024

Average Market Cap (M) $4 699,76 M
Number of Holdings 1 732
Average Price/Book 1,44
Price/Earnings Ratio FY1 12,88

Index Characteristics as of 18 Jul 2024

Index Dividend Yield

This measures the weighted average of gross dividend Yield of stocks, in the index.


Fund Market Price as of 18 Jul 2024

Bid Price €61,33
Offer Price €61,33
Closing Price €61,33
Bid/Offer Spread €0,00
Day High €62,01
Day Low €60,88
52 Week High €62,01
52 Week Low €47,08

Fund Net Asset Value as of 18 Jul 2024

NAV USD (Official NAV) $65,77
NAV EUR €60,26
Assets Under Management $506,46 M
Shares in Issue 7 700 000

Reference NAVs are calculated for information purposes only. No warranty is provided as to the accuracy of reference NAVs. Reference NAVs are calculated with WM1600 FX (London time) rate applied in the currency indicated.

Fund Performance

  • Fund Inception Date: 18 Feb 2015
  • Index Inception Date: 31 Dec 2014

as of 30 Jun 2024

As Of 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
18 Feb 2015
Fund Net 30 Jun 2024 -2,71% -4,45% -0,96% 12,09% 3,71% 11,36% - 7,99%
Difference 30 Jun 2024 -0,01% -0,01% -0,01% 0,00% -0,03% -0,19% - -0,18%
Fund Gross 30 Jun 2024 -2,68% -4,38% -0,81% 12,43% 4,02% 11,69% - 8,31%
Difference 30 Jun 2024 0,02% 0,06% 0,14% 0,33% 0,28% 0,15% - 0,14%
MSCI USA Small Cap Value Weighted Index
30 Jun 2024 -2,70% -4,43% -0,95% 12,09% 3,75% 11,55% - 8,17%

as of 30 Jun 2024

As Of 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
18 Feb 2015
Fund Net 30 Jun 2024 -2,71% -4,45% -0,96% 12,09% 11,56% 71,27% - 105,33%
Difference 30 Jun 2024 -0,01% -0,01% -0,01% 0,00% -0,11% -1,45% - -3,25%
Fund Gross 30 Jun 2024 -2,68% -4,38% -0,81% 12,43% 12,56% 73,86% - 111,17%
Difference 30 Jun 2024 0,02% 0,06% 0,14% 0,33% 0,90% 1,14% - 2,59%
MSCI USA Small Cap Value Weighted Index
30 Jun 2024 -2,70% -4,43% -0,95% 12,09% 11,67% 72,72% - 108,58%

as of 30 Jun 2024

2024 (YTD) 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Fund Net -0,96% 21,18% -10,23% 35,40% 8,46% 23,80% -14,31% 9,37% 25,83% -11,11% -
Difference -0,01% -0,01% -0,03% -0,29% -0,49% -0,43% 0,02% 0,02% -0,73% 0,03% -
Fund Gross -0,81% 21,54% -9,96% 35,80% 8,79% 24,17% -14,05% 9,70% 26,21% -10,88% -
Difference 0,14% 0,35% 0,24% 0,12% -0,16% -0,06% 0,28% 0,35% -0,35% 0,26% -
MSCI USA Small Cap Value Weighted Index
-0,95% 21,19% -10,20% 35,68% 8,95% 24,23% -14,33% 9,35% 26,56% -11,14% -

Performance Gross and Net of All Fees.

Past performance is not an indicator of future performance. The Gross of fees do not reflect and net of fees do reflect commissions and costs incurred on the issue and redemption, or purchases and sale, of units. If the performance is calculated on the basis of Gross/net asset values that are not denominated in the accounting currency of the collective investment scheme, its value may rise or fall as a result of currency fluctuations.

Calendar year inception performance returns will be partial for the year where the inception date for either the Fund in question or the historic performance-linked Fund (whichever is the earliest) falls within that period.

Deviation & Tracking Error as of 30 Jun 2024

Standard Deviation 22,19%
Tracking Error 0,04%

This calculation is based on the past 3 years performance information.

Top Holdings

Fund Top Holdings as of 18 Jul 2024

Security Name Weight
United States Steel Corporation 0,72%
Jackson Financial Incorporation Class A 0,65%
Plains GP Holdings LP Class A 0,53%
TD SYNNEX Corporation 0,50%
Arrow Electronics Inc. 0,48%
Reinsurance Group of America Incorporated 0,45%
Lithia Motors Inc. 0,45%
PBF Energy Inc. Class A 0,44%
Performance Food Group Co 0,44%
Unum Group 0,44%
Download All Holdings: Download Daily Holdings

Sector Allocation

Fund Sector Allocation as of 18 Jul 2024

Sector Weight
Financials 25,93%
Consumer Discretionary 16,94%
Industrials 14,58%
Information Technology 7,19%
Energy 6,87%
Materials 6,12%
Real Estate 5,84%
Health Care 5,77%
Consumer Staples 4,39%
Communication Services 3,91%
Utilities 2,46%

Geographical Weights

Characteristics, holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future. The holdings are taken from the accounting records of SSGA which may differ from the official books and records of the custodian.

Capital Risk: Investing involves risk including the risk of loss of capital.

Past performance is not a reliable indicator of future performance. 

First net asset value taken into account corresponds to the first end of month following complete investment of the portfolio in agreement with the policy of management. Historical performance is not necessarily indicative of actual future investment performance.

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

The recipient is only permitted to view or receive the Index Data in the form in which it is in presented. The recipient understands, acknowledges and agrees that use of the Index Data is at its sole risk. The recipient understands, acknowledges and agrees that the Index Data is provided "as is" and that neither Morningstar UK Limited (Morningstar) nor its content providers warrant the accuracy, completeness, non-infringement, originality, timeliness or any other characteristic of the Index Data. The recipient further understands, acknowledges and agrees that the Index Data is provided to you as an investor in financial products solely pursuant to regulatory requirements and for informational purposes only. The Index Data may not be used by you for commercial purposes and may not be used for trading or other purposes in lieu of a subscription to such Index Data with Morningstar.