State Street China Equity Select Fund - Class K SCSLX

Important Risk Disclosure

Chinese securities A shares involves certain investments risks and investment considerations including, (i) the small size of the market for Chinese securities relative to the US market, low volume of trading relative to U.S. securities, lack of liquidity and in price volatility, (ii) currency devaluations and other currency exchange rate fluctuations or blockage, (iii) the nature and extent of intervention by the Chinese government in the Chinese securities markets, whether such intervention will continue and the impact of such intervention or its discontinuation, (iv) the ability of Chinese issuers to unilaterally suspend trading of their securities, and (v) custody risks associated with investing through a RQFII.

Concentrated investments in a particular industry or sector may be more vulnerable to adverse changes in that industry or sector.

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

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

Foreign (non-U.S.) Securities may be subject to greater political, economic, environmental, credit and information risks. Foreign securities may be subject to higher volatility than U.S. securities, due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets.

Geographic Focus Risk: The performance of the fund that is less diversified across countries or geographic regions will be closely tied to market, currency, economic, political, environmental, or regulatory conditions and developments in the countries or regions in which the fund invests, and may be more volatile than the performance of a more geographically-diversified fund.

Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.

NAV

NAV

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

$13.52

as of Sep 22 2021

Total Net Assets

$6.77 M

as of Sep 22 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.

3.13%

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, and extraordinary expenses) exceed 0.90% 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.

0.90%

1 Day Nav Change

+$0.08 (+0.60%)


Key Features

Key Features

 State Street China Equity Select Fund seeks to provide long-term growth of capital.


About this Benchmark

About this Benchmark

The MSCI China Index captures large and mid-cap representation across China H shares, B shares, Red chips, P chips and foreign listings (e.g. ADRs). The index covers about 85% of this China equity universe. Currently, the index also includes Large Cap A shares represented at 5% of their free float adjusted market capitalization.


Fund Information as of Sep 23 2021

Fund Information as of Sep 23 2021
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, and extraordinary expenses) exceed 0.90% 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 Investment Manager
MSCI China Index May 29 2019 No 3.13% 0.90% USD SSGA Funds Management, Inc.
Benchmark MSCI China Index
Inception Date May 29 2019
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.

3.13%
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, and extraordinary expenses) exceed 0.90% 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.

0.90%
Base Currency USD
Investment Manager SSGA Funds Management, Inc.
Management Team Distributor Distribution Frequency
Emerging Market Equity Team State Street Global Advisors Funds Distributors, LLC Annually
Management Team Emerging Market Equity Team
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annually

Listing Information as of Sep 23 2021

Listing Information as of Sep 23 2021
Exchange Listing Date Trading Currency Ticker CUSIP
NASDAQ REGULAR MARKET May 29 2019 USD SCSLX 85749Q216
Exchange NASDAQ REGULAR MARKET
Listing Date May 29 2019
Trading Currency USD
Ticker SCSLX
CUSIP 85749Q216

Fund Characteristics as of Aug 31 2021

Fund Characteristics as of Aug 31 2021
Active Share

Active Share measures the degree of overlap between the underlying holdings of the Fund against the underlying holdings in the fund's benchmark. A Fund's underlying holdings identical to its benchmark would have an active share of 0.00%, whereas, the more the underlying holdings are different from the benchmark, the larger the active share will be with a maximum of 100%.

Dividend Yield 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.

Number of Holdings 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.

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.

Weighted Average Market Cap
51.21% 1.06% 24.65% 36 3.24 19.14 $212,574.48 M
Active Share

Active Share measures the degree of overlap between the underlying holdings of the Fund against the underlying holdings in the fund's benchmark. A Fund's underlying holdings identical to its benchmark would have an active share of 0.00%, whereas, the more the underlying holdings are different from the benchmark, the larger the active share will be with a maximum of 100%.

51.21%
Dividend Yield 1.06%
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.

24.65%
Number of Holdings 36
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.

3.24
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.

19.14
Weighted Average Market Cap $212,574.48 M

Yields as of Sep 22 2021

Yields as of Sep 22 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.

0.00% 0.00%
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.

0.00%
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.

0.00%

Fund Net Asset Value as of Sep 22 2021

Fund Net Asset Value as of Sep 22 2021
Percent Change Price Change 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
0.60% $0.08 $13.52 500,531 $6.77 M
Percent Change 0.60%
Price Change $0.08
NAV

NAV

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

$13.52
Shares Outstanding 500,531
Total Net Assets $6.77 M

Fund Performance

Fund Performance

  • Fund Inception Date: May 29 2019

as of Aug 31 2021

as of Jun 30 2021

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
May 29 2019
Fund at NAV Aug 31 2021 -2.06% -15.70% -11.45% -2.40% - - - 22.23%
MSCI China Index Aug 31 2021 0.00% -13.84% -12.26% -5.10% - - - 13.87%
As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
May 29 2019
Fund at NAV Jun 30 2021 1.32% 2.37% 5.04% 36.27% - - - 34.82%
MSCI China Index Jun 30 2021 0.10% 2.27% 1.83% 27.39% - - - 23.59%

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.

Performance returns for periods of less than one year are not annualized.  Performance is shown net of fees.

The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.

Gross Expense Ratio: 3.13%

Net Expense Ratio: 0.90%


Top Holdings

Subject to change.

Top Holdings

Subject to change.

Fund Top Holdingsas of Aug 31 2021

Fund Top Holdings as of Aug 31 2021

Name Weight
Tencent Holdings Ltd. 16.01%
Alibaba Group Holding Ltd. 9.96%
JD.com Inc. Sponsored ADR Class A 8.36%
NetEase Inc. Sponsored ADR 4.98%
Meituan Class B 4.77%
China Construction Bank Corporation Class H 3.92%
ANTA Sports Products Ltd. 3.61%
NIO Inc. Sponsored ADR Class A 2.93%
Kweichow Moutai Co. Ltd. Class A 2.82%
China Merchants Bank Co. Ltd. Class H 2.61%
Download All Holdings: Monthly

Sector Allocation

Sector Allocation
Fund Sector Allocationas of Aug 31 2021

Fund Sector Allocation as of Aug 31 2021

Sector Weight
Consumer Discretionary 38.30%
Communication Services 24.16%
Financials 14.72%
Health Care 9.19%
Consumer Staples 6.20%
Information Technology 5.53%
Real Estate 1.90%

Geographical Breakdown

Geographical Breakdown

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 China Equity Select 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 China Equity Select 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.