State Street Target Retirement 2020 Fund - Class K SSBOX

Important Risk Disclosure

Asset Allocation is a method of diversification which positions assets among major investment categories. Asset Allocation may be used in an effort to manage risk and enhance returns. It does not, however, guarantee a profit or protect against loss.

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.

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.

The Fund is subject to substantially the same risks as those associated with the direct ownership of the securities or other assets represented by the exchange-traded products ("ETPs") in which the Fund invests. The shares of certain ETPs may trade at a premium or discount to their net asset value.

Increase in real interest rates can cause the price of inflation-protected debt securities to decrease. Interest payments on inflation-protected debt securities can be unpredictable.

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.

The use of leverage, as part of the investment process, can multiply market movements into greater changes in an investment's value, thus resulting in increased volatility of returns.

Thinly traded securities may be difficult to liquidate without taking a significant discount from current market value.

Investments in asset backed and mortgage backed securities are subject to prepayment risk which can limit the potential for gain during a declining interest rate environment and increases the potential for loss in a rising interest rate environment.

Investing in REITs involves certain distinct risks in addition to those risks associated with investing in the real estate industry in general. Equity REITs may be affected by changes in the value of the underlying property owned by the REITs, while mortgage REITs may be affected by the quality of credit extended. REITs are subject to heavy cash flow dependency, default by borrowers and self-liquidation. REITs, especially mortgage REITs, are also subject to interest rate risk (i.e., as interest rates rise, the value of the REIT may decline).

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

Assumptions and forecasts used by SSgA FM in developing the Fund's asset allocation glide path may not be in line with future capital market returns and participant savings activities, which could result in losses near, at or after the target date year or could result in the Fund not providing adequate income at and through retirement.

Investing in high yield fixed income securities, otherwise known as "junk bonds", is considered speculative and involves greater risk of loss of principal and interest than investing in investment grade fixed income securities. These Lower-quality debt securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer.

SSGA Target Date Funds are designed for investors expecting to retire around the year indicated in each fund's name. When choosing a Fund, investors should consider whether they anticipate retiring significantly earlier or later than age 65, even if such investors retire on or near a fund's approximate target date. There may be other considerations relevant to Target Date Fund selection and investors should select the fund that best meets their individual circumstances and investment goals. The funds' asset allocation strategy becomes increasingly conservative as it approaches the target date and beyond. The investment risks of each Target Date Fund change over time as its asset allocation changes.

International Government bonds and corporate bonds generally have more moderate short-term price fluctuations than stocks, but provide lower potential long-term returns.

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.

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

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.

International markets entail different risks than those typically associated with domestic markets, including foreign currency fluctuation, political and economic instability, accounting changes and foreign taxation. These risks can be increased when investing in emerging markets securities.

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.

NAV

NAV

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

$12.93

as of Jun 23 2021

Total Net Assets

$912.19 M

as of Jun 23 2021

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.

0.26%

Net Expense Ratio

The Fund's investment adviser, SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”), is contractually obligated until April 30, 2022 (i) to waive up to the full amount of the advisory fee payable by the Fund, and/or (ii) to reimburse the Fund to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, interest, taxes, extraordinary expenses, and distribution, shareholder servicing, and sub-transfer agency fees) exceed 0.09% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2022 except with approval of the Fund's Board of Trustees.

0.09%

1 Day Nav Change

+$0.03 (+0.23%)


Key Features

Key Features

The investment objective of the State Street Target Retirement 2020 Fund is to seek capital growth and income over the long term.


About the Primary Benchmark

About the Primary Benchmark

The S&P 500® Index is composed of five hundred (500) selected stocks, all of which are listed on national stock exchanges and spans over 25 separate industry groups.


About the Secondary Benchmark

About the Secondary Benchmark

The State Street Target Retirement 2020 Composite Index consists of several different indexes, and is designed to provide exposure to a variety of asset classes.


Fund Information as of Jun 23 2021

Fund Information as of Jun 23 2021
Benchmark Secondary Benchmark Inception Date Options Available 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. (the “Adviser” or “SSGA FM”), is contractually obligated until April 30, 2022 (i) to waive up to the full amount of the advisory fee payable by the Fund, and/or (ii) to reimburse the Fund to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, interest, taxes, extraordinary expenses, and distribution, shareholder servicing, and sub-transfer agency fees) exceed 0.09% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2022 except with approval of the Fund's Board of Trustees.

Base Currency
S&P 500 Index State Street Target Retirement 2020 Composite Index Sep 30 2014 No 0.26% 0.09% USD
Benchmark S&P 500 Index
Secondary Benchmark State Street Target Retirement 2020 Composite Index
Inception Date Sep 30 2014
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.

0.26%
Net Expense Ratio

The Fund's investment adviser, SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”), is contractually obligated until April 30, 2022 (i) to waive up to the full amount of the advisory fee payable by the Fund, and/or (ii) to reimburse the Fund to the extent that Total Annual Fund Operating Expenses (exclusive of non-recurring account fees, interest, taxes, extraordinary expenses, and distribution, shareholder servicing, and sub-transfer agency fees) exceed 0.09% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to April 30, 2022 except with approval of the Fund's Board of Trustees.

0.09%
Base Currency USD
Investment Manager Management Team Distributor Distribution Frequency
SSGA Funds Management, Inc. Investment Solutions Group (ISG) State Street Global Advisors Funds Distributors, LLC Annually
Investment Manager SSGA Funds Management, Inc.
Management Team Investment Solutions Group (ISG)
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annually

Listing Information as of Jun 23 2021

Listing Information as of Jun 23 2021
Exchange Listing Date Trading Currency Ticker CUSIP
NASDAQ REGULAR MARKET Sep 30 2014 USD SSBOX 85749R800
Exchange NASDAQ REGULAR MARKET
Listing Date Sep 30 2014
Trading Currency USD
Ticker SSBOX
CUSIP 85749R800

Fund Characteristics as of May 31 2021

Fund Characteristics as of May 31 2021
Dividend Yield Number of Holdings Weighted Average Market Cap
2.13% 11 $3,350.33 M
Dividend Yield 2.13%
Number of Holdings 11
Weighted Average Market Cap $3,350.33 M

Yields as of Jun 24 2021

Yields as of Jun 24 2021
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.

1.96% 1.78%
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.

1.96%
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.

1.78%

Fund Net Asset Value as of Jun 23 2021

Fund Net Asset Value as of Jun 23 2021
NAV

NAV

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

Shares Outstanding Total Net Assets
$12.93 70.53 M $912.19 M
NAV

NAV

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

$12.93
Shares Outstanding 70.53 M
Total Net Assets $912.19 M

Fund Performance

Fund Performance

  • Fund Inception Date: Sep 30 2014

as of May 31 2021

as of Mar 31 2021

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 30 2014
Fund at NAV May 31 2021 0.86% 3.46% 5.23% 20.70% 9.87% 9.28% - 7.44%
S&P 500 Index
Primary Index
May 31 2021 0.70% 6.07% 12.62% 40.32% 18.00% 17.16% - 14.27%
State Street Target Retirement 2020 Composite Index
Secondary Index
May 31 2021 0.93% 3.50% 5.35% 20.88% 9.88% 9.35% - 7.60%
As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 30 2014
Fund at NAV Mar 31 2021 1.14% 1.72% 1.72% 27.47% 8.95% 8.82% - 7.08%
S&P 500 Index
Primary Index
Mar 31 2021 4.38% 6.17% 6.17% 56.35% 16.78% 16.29% - 13.62%
State Street Target Retirement 2020 Composite Index
Secondary Index
Mar 31 2021 1.06% 1.78% 1.78% 27.32% 9.01% 8.88% - 7.23%

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: 0.26%

Net Expense Ratio: 0.09%


Top Holdings

Subject to change.

Top Holdings

Subject to change.

Fund Top Holdingsas of Apr 30 2021

Fund Top Holdings as of Apr 30 2021

Name Weight
State Street Aggregate Bond Index Portfolio 20.84%
State Street Equity 500 Index II Portfolio 20.55%
SPDR Bloomberg Barclays 1-10 Year TIPS ETF 17.80%
State Street Global All Cap Equity ex-US Index Portfolio 15.33%
SPDR Portfolio Short Term Treasury ETF 7.17%
SPDR Bloomberg Barclays High Yield Bond ETF 6.89%
SPDR Dow Jones Global Real Estate ETF 5.20%
State Street Small/Mid Cap Equity Index Portfolio 4.20%
SPDR Portfolio Short Term Corporate Bond ETF 1.85%
SSGA FDS/USA STIF USD 0.15%
U.S. Dollar 0.03%
Download All Holdings: Monthly

Asset Allocation

Asset Allocation
Fund Asset Allocationas of May 31 2021

Fund Asset Allocation as of May 31 2021

Sector Weight
Fixed Income 54.36%
Equity 40.39%
Alternatives 5.25%

Purchase Information

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

DDA# 9904-631-0

Attn: State Street Target Retirement 2020 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


Fund Footnotes

Unless otherwise noted all information contained herein is that of the State Street Target Retirement 2020 Fund - Class K

Intellectual Property Information: Standard & Poor's S&P 500® Index is a registered trademark of Standard & Poor's, a division of the McGraw-Hill Companies Inc. The S&P 500® Index is unmanaged and can not be invested in directly. Standard & Poor's is the owner of the trademarks, service marks and copyrights related to its indexes. The S&P 500® Index is an index of the common stock prices of 500 widely held U.S. stocks and includes reinvestment of dividends.