State Street Target Retirement Fund - Class K SSFOX

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 value of the debt securities may increase or decrease as a result of the following: market fluctuations, increases in interest rates, inability of issuers to repay principal and interest or illiquidity in the debt securities markets; the risk of low rates of return due to reinvestment of securities during periods of falling interest rates or repayment by issuers with higher coupon or interest rates; and/or the risk of low income due to falling interest rates. To the extent that interest rates rise, certain underlying obligations may be paid off substantially slower than originally anticipated and the value of those securities may fall sharply. This may result in a reduction in income from debt securities income.

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.

Equity securities may fluctuate in value and can decline significantly 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.

$12.82

as of Dec 07 2021

Total Net Assets

$621.70 M

as of Dec 07 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.

0.31%

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

+$0.09 (+0.71%)


Key Features

Key Features

The investment objective of the State Street Target Retirement Fund is to seek current income and, secondarily, capital growth.


About the Primary Benchmark

About the Primary Benchmark

The Bloomberg US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, fixed-rate agency MBS, ABS and CMBS (agency and non-agency). 


About the Secondary Benchmark

About the Secondary Benchmark

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


Fund Information as of Dec 08 2021

Fund Information as of Dec 08 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
Bloomberg U.S. Aggregate Bond Index State Street Target Retirement Composite Index Sep 30 2014 No 0.31% 0.09% USD
Benchmark Bloomberg U.S. Aggregate Bond Index
Secondary Benchmark State Street Target Retirement 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.

0.31%
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 Dec 08 2021

Listing Information as of Dec 08 2021
Exchange Listing Date Trading Currency Ticker CUSIP
NASDAQ REGULAR MARKET Sep 30 2014 USD SSFOX 85749R495
Exchange NASDAQ REGULAR MARKET
Listing Date Sep 30 2014
Trading Currency USD
Ticker SSFOX
CUSIP 85749R495

Fund Characteristics as of Nov 30 2021

Fund Characteristics as of Nov 30 2021
Dividend Yield Number of Holdings Weighted Average Market Cap
2.32% 11 $3,555.92 M
Dividend Yield 2.32%
Number of Holdings 11
Weighted Average Market Cap $3,555.92 M

Yields as of Dec 07 2021

Yields as of Dec 07 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.

2.05% 1.91%
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.

2.05%
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.

1.91%

Fund Net Asset Value as of Dec 07 2021

Fund Net Asset Value as of Dec 07 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
$12.82 48.49 M $621.70 M
NAV

NAV

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

$12.82
Shares Outstanding 48.49 M
Total Net Assets $621.70 M

Fund Performance

Fund Performance

  • Fund Inception Date: Sep 30 2014

as of Nov 30 2021

as of Sep 30 2021

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 30 2014
Fund at NAV Nov 30 2021 -0.94% 0.95% 6.02% 8.28% 9.30% 7.36% - 5.75%
Bloomberg U.S. Aggregate Bond Index
Primary Index
Nov 30 2021 0.30% 0.27% -1.29% -1.15% 5.52% 3.65% - 3.22%
State Street Target Retirement Composite Index
Secondary Index
Nov 30 2021 -0.87% 0.97% 6.07% 8.36% 9.28% 7.36% - 5.88%
As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Sep 30 2014
Fund at NAV Sep 30 2021 -1.80% 0.08% 5.01% 11.57% 8.21% 6.82% - 5.74%
Bloomberg U.S. Aggregate Bond Index
Primary Index
Sep 30 2021 -0.87% 0.05% -1.55% -0.90% 5.36% 2.94% - 3.26%
State Street Target Retirement Composite Index
Secondary Index
Sep 30 2021 -1.78% 0.08% 5.05% 11.61% 8.18% 6.84% - 5.88%

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. All results are historical and assume the reinvestment of dividends and capital gains. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Gross Expense Ratio: 0.31%

Net Expense Ratio: 0.09%


Top Holdings

Subject to change.

Top Holdings

Subject to change.

Fund Top Holdingsas of Oct 31 2021

Fund Top Holdings as of Oct 31 2021

Name Weight
State Street Aggregate Bond Index Portfolio 19.50%
SPDR Bloomberg 1-10 Year TIPS ETF 17.82%
State Street Equity 500 Index II Portfolio 16.24%
SPDR Portfolio Short Term Treasury ETF 15.47%
State Street Global All Cap Equity ex-US Index Portfolio 11.47%
SPDR Bloomberg High Yield Bond ETF 6.84%
SPDR Dow Jones Global Real Estate ETF 5.20%
SPDR Portfolio Short Term Corporate Bond ETF 3.91%
State Street Small/Mid Cap Equity Index Portfolio 3.02%
SSGA FDS/USA STIF USD 0.85%
U.S. Dollar -0.33%
Download All Holdings: Monthly

Asset Allocation

Asset Allocation
Fund Asset Allocationas of Nov 30 2021

Fund Asset Allocation as of Nov 30 2021

Sector Weight
Fixed Income 64.34%
Equity 30.47%
Alternatives 5.19%

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 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 Fund - Class K

"Bloomberg®" and Bloomberg U.S. Aggregate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the index (collectively, "Bloomberg") and have been licensed for use for certain purposes by State Street Global Advisors. Bloomberg is not affiliated with State Street Global Advisors, and Bloomberg does not approve, endorse, review, or recommend State Street Target Retirement Fund - Class K. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to State Street Target Retirement Fund - Class K.

Prior to August 24, 2021, the Bloomberg U.S. Aggregate Bond Index was known as the Bloomberg Barclays U.S. Aggregate Bond Index.