SSEOX: State Street Defensive Emerging Markets Equity Fund

Overview
Performance
Holdings
Document

Purchase Information

NAV

$6.42

as of Jan 19 2021

Base Currency

USD

Total Net Assets

$1.57 M

as of Jan 19 2021

Gross Expense Ratio

1.72%

Net Expense Ratio

1.20%

1 Day Nav Change

+$0.07 (+1.10%)

Quick Links

Key Features

The State Street Defensive Emerging Markets Equity Fund seeks to provide maximum total return, primarily through capital appreciation, by investing primarily in securities of foreign issuers.

Fund Information as of Jan 19 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 December 31, 2021 (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, extraordinary expenses, acquired fund fees and expenses, and distribution, shareholder servicing and sub-transfer agency fees) exceed 1.00% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to December 31, 2021 except with the approval of the Fund's Board of Trustees. SSGA FM has contractually agreed to waive 0.01% of its administration fee. This waiver may not be terminated or modified except with the approval of the Fund's Board of Trustees and shall continue until at least December 31, 2021.	Base Currency	Investment Manager
MSCI Emerging Market Index	Jul 07 2014	No	1.72%	1.20%	USD	SSGA Funds Management, Inc.

Benchmark	MSCI Emerging Market Index
Inception Date	Jul 07 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.	1.72%
Net Expense Ratio ^The Fund's investment adviser, SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM"), is contractually obligated until December 31, 2021 (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, extraordinary expenses, acquired fund fees and expenses, and distribution, shareholder servicing and sub-transfer agency fees) exceed 1.00% of average daily net assets on an annual basis. This waiver and/or reimbursement may not be terminated prior to December 31, 2021 except with the approval of the Fund's Board of Trustees. SSGA FM has contractually agreed to waive 0.01% of its administration fee. This waiver may not be terminated or modified except with the approval of the Fund's Board of Trustees and shall continue until at least December 31, 2021.	1.20%
Base Currency	USD
Investment Manager	SSGA Funds Management, Inc.

Management Team	Distributor	Distribution Frequency
Active Quantitative Equities	State Street Global Advisors Funds Distributors, LLC	Annually

Management Team	Active Quantitative Equities
Distributor	State Street Global Advisors Funds Distributors, LLC
Distribution Frequency	Annually

Listing Information as of Jan 19 2021

Exchange	Listing Date	Trading Currency	Ticker	CUSIP
NASDAQ REGULAR MARKET	Jul 07 2014	USD	SSEOX	784924292

Exchange	NASDAQ REGULAR MARKET
Listing Date	Jul 07 2014
Trading Currency	USD
Ticker	SSEOX
CUSIP	784924292

Fund Characteristics as of Dec 31 2020

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 Dividend Yield measures the weighted average of gross dividend yield of stocks in the fund.	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
80.59%	3.81%	11.53%	127	1.48	12.58	$55,814.70 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%.	80.59%
Dividend Yield Dividend Yield measures the weighted average of gross dividend yield of stocks in the fund.	3.81%
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.	11.53%
Number of Holdings	127
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.	1.48
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.	12.58
Weighted Average Market Cap	$55,814.70 M

Yields as of Jan 19 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.
2.25%	1.74%

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.	2.25%
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.	1.74%

Fund Net Asset Value as of Jan 19 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
1.10%	$0.07	$6.42	245,401	$1.57 M

Percent Change	1.10%
Price Change	$0.07
NAV NAV The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.	$6.42
Shares Outstanding	245,401
Total Net Assets	$1.57 M

Fund Performance

Fund Inception Date: Jul 07 2014
Performance Inception Date: Mar 01 1994

Performance

Month End Quarter End

as of Dec 31 2020

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Mar 01 1994
Fund at NAV	Dec 31 2020	6.54%	14.80%	6.01%	6.01%	0.95%	5.93%	-0.18%	5.49%
MSCI Emerging Market Index	Dec 31 2020	7.35%	19.70%	18.31%	18.31%	6.17%	12.81%	3.63%	5.76%

	As Of	1 Month	QTD	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception Mar 01 1994
Fund at NAV	Dec 31 2020	6.54%	14.80%	6.01%	6.01%	0.95%	5.93%	-0.18%	5.49%
MSCI Emerging Market Index	Dec 31 2020	7.35%	19.70%	18.31%	18.31%	6.17%	12.81%	3.63%	5.76%

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 shown for the periods prior to the inception of Class I shares on July 7, 2014, reflect the historical performance of the fund’s Class N shares. Had the fund’s Class I fees been reflected, the returns shown for those periods would have been higher.

Gross Expense Ratio: 1.72%

Net Expense Ratio: 1.20%

Top Holdings
Subject to change.

Top Holdings

Fund Top Holdingsas of Dec 31 2020

Fund Top Holdings as of Dec 31 2020

Name	Weight
Taiwan Semiconductor Manufacturing Co. Ltd.	3.54%
KT & G Corporation	2.74%
Baidu Inc. Sponsored ADR Class A	2.68%
ALROSA PJSC	2.59%
HCL Technologies Limited	2.53%
First Financial Holding Co. Ltd.	2.31%
O2 Czech Republic a.s.	2.25%
Zhongsheng Group Holdings Ltd.	2.19%
United Microelectronics Corp.	2.16%
Hengan International Group Co. Ltd.	2.10%

Download All Holdings: Monthly

Sector Allocation

Fund Sector Allocationas of Dec 31 2020

Fund Sector Allocation as of Dec 31 2020

Sector	Weight
Information Technology	23.14%
Financials	13.69%
Communication Services	12.30%
Consumer Discretionary	9.96%
Consumer Staples	9.37%
Materials	7.39%
Industrials	7.22%
Utilities	6.67%
Energy	5.06%
Real Estate	3.47%
Health Care	1.73%

Geographical Breakdown

Fund Documents

Information & Schedules

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: SSGA (State Street Defensive Emerging Markets Equity 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

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 Defensive Emerging Markets Equity Fund - Class I.

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.

The MSCI Emerging Markets Index is comprised of 26 countries. MSCI targets to capture 85% of free float-adjusted companies within each industry group in every country. Designation as an emerging market is determined by a number of factors, such as gross domestic product per capita; local government regulations; perceived investment risk; foreign ownership limits and capital controls; or the general perception by the investment community when determining an "emerging" classification of a market. The index is unmanaged and may not be invested in directly.

Prior to 1/22/2019, the State Street Defensive Emerging Markets Equity Fund - Class I was known as the State Street Disciplined Emerging Markets Equity Fund - Class I.

State Street Defensive Emerging Markets Equity Fund - Class I SSEOX

Important Risk Disclosure

Key Features

Fund Information as of Jan 19 2021

Listing Information as of Jan 19 2021

Fund Characteristics as of Dec 31 2020

Yields as of Jan 19 2021

Fund Net Asset Value as of Jan 19 2021

Fund Performance

Top Holdings
Subject to change.

Fund Top Holdings as of Dec 31 2020

Sector Allocation

Fund Sector Allocation as of Dec 31 2020

Geographical Breakdown

Purchase Information

State Street Defensive Emerging Markets Equity Fund - Class I SSEOX

Important Risk Disclosure

Key Features

Fund Information as of Jan 19 2021

Listing Information as of Jan 19 2021

Fund Characteristics as of Dec 31 2020

Yields as of Jan 19 2021

Fund Net Asset Value as of Jan 19 2021

Fund Performance

Top HoldingsSubject to change.

Fund Top Holdings as of Dec 31 2020

Sector Allocation

Fund Sector Allocation as of Dec 31 2020

Geographical Breakdown

Purchase Information

Top Holdings
Subject to change.