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State Street Total Return V.I.S. Fund - Class 1 SSTIX

Considering the risks: A principal risk of investing in the Fund is the risk that the value of equity securities may decline. Special risks are associated with investing in foreign securities including currency fluctuations, economic instability and political developments. Securities with different characteristics tend to shift in and out of favor depending upon market and economic conditions. While stocks have historically outperformed other asset classes, over the long term they tend to fluctuate over the short term as a result of factors affecting the individual companies, industries or the securities market as a whole. Bond prices generally move in the opposite direction of interest rates. Thus, as the prices of bonds in the Fund adjust to a rise in interest rates, the Fund's share price may decline. These and other risk considerations are discussed in the Fund's prospectus and summary prospectus.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-800-242-0134. Read it carefully.

The Fund's investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investment in securities markets. Investment markets can be volatile and prices of investments can change substantially due to various factors including, but not limited to, economic growth or recession, changes in interest rates, changes in the actual or perceived creditworthiness of issuers, and general market liquidity. The Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, or other events could have a significant impact on the Fund and its investments.

NAV

NAV

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

$15.71
as of Jun 21 2024
Assets Under Management
$1,058.85 M
as of Apr 30 2024
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.

0.65%
1 Day Nav Change
-$0.03 (-0.19%)
as of Jun 21 2024
Overall Morningstar Rating
as of Apr 30 2024

Fund Objective

The State Street Total Return V.I.S. Fund seeks the highest total return, composed of current income and capital appreciation, as is consistent with prudent investment risk.

Investment Strategy

The Fund seeks to achieve its investment objective by constructing a broadly diversified portfolio that provides exposure to three primary asset classes either directly or indirectly through investment in exchange-traded funds ("ETFs"): (1) U.S. and foreign (non-U.S.) equity securities (the "Equity Class"); (2) U.S. and foreign (non-U.S.) debt securities (the "Fixed Income Class"); and (3) alternative-style investments (the "Alternative Class"). SSGA FM allocates the Fund's assets among sub-asset classes wihin Equity, Fixed Income, and Alternative classes in proportions consistent with the potential returns and risks of each sub-asset class as well as the allocations that, in SSGA FM's view, will best meet the Fund's investment objective.

Fund Information as of Jun 22 2024

Investment Style Multi-Asset
Primary Benchmark S&P 500 Index
Secondary Benchmark MSCI ACWI ex USA Index
Tertiary Benchmark Bloomberg U.S. Aggregate Bond Index
Inception Date Jul 01 1985
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.

0.65%
Base Currency USD
Investment Manager SSGA Funds Management, Inc.
Management Team Investment Solutions Group (ISG)
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annually

Investment Team

Michael O Martel

Head of Portfolio Management

Jeremiah Holly, CFA

Portfolio Manager

Listing Information as of Jun 22 2024

Exchange Trading Currency Listing Date Ticker CUSIP
NASDAQ REGULAR MARKET USD Jul 01 1985 SSTIX 85751Q203

Fund Net Asset Value as of Jun 21 2024

NAV

NAV

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

$15.71
Percent Change -0.19%
Price Change -$0.03
Offer Price $15.71
NAV 52 Week High $15.74(2024-06-20)
NAV 52 Week Low $13.31(2023-10-27)

Morningstar Rating as of Apr 30 2024

Category Overall 3 Years 5 Years 10 Years
Moderate Allocation ★★ ★★★ ★★ ★★
# of Funds in Category - 684 645 490

Fund Performance

  • Fund Inception Date: Jul 01 1985

as of Apr 30 2024

As Of 1 Year 3 Year 5 Year 10 Year Since Inception
Jul 01 1985
Fund at NAV Apr 30 2024 10.64% 1.21% 4.64% 4.91% 7.64%
Primary Benchmark
S&P 500 Index
Apr 30 2024 22.66% 8.06% 13.19% 12.41% 11.21%
Secondary Benchmark
MSCI ACWI ex USA Index
Apr 30 2024 9.32% 0.35% 5.04% 3.93% 6.59%
Tertiary Benchmark
Bloomberg U.S. Aggregate Bond Index
Apr 30 2024 -1.47% -3.54% -0.16% 1.20% 5.66%

as of Mar 31 2024

As Of 1 Year 3 Year 5 Year 10 Year Since Inception
Jul 01 1985
Fund at NAV Mar 31 2024 15.19% 3.32% 5.59% 5.29% 7.74%
Primary Benchmark
S&P 500 Index
Mar 31 2024 29.88% 11.49% 15.05% 12.96% 11.35%
Secondary Benchmark
MSCI ACWI ex USA Index
Mar 31 2024 13.26% 1.93% 5.97% 4.25% 6.66%
Tertiary Benchmark
Bloomberg U.S. Aggregate Bond Index
Mar 31 2024 1.70% -2.46% 0.36% 1.54% 5.74%

as of Apr 30 2024

As Of 1 Month 3 Month 6 Month QTD YTD
Fund at NAV Apr 30 2024 -2.97% 2.31% 14.52% -2.97% 1.90%
Primary Benchmark
S&P 500 Index
Apr 30 2024 -4.08% 4.29% 20.98% -4.08% 6.04%
Secondary Benchmark
MSCI ACWI ex USA Index
Apr 30 2024 -1.80% 3.84% 17.69% -1.80% 2.81%
Tertiary Benchmark
Bloomberg U.S. Aggregate Bond Index
Apr 30 2024 -2.53% -3.02% 4.97% -2.53% -3.28%

as of Mar 31 2024

As Of 1 Month 3 Month 6 Month QTD YTD
Fund at NAV Mar 31 2024 2.51% 5.02% 15.11% 5.02% 5.02%
Primary Benchmark
S&P 500 Index
Mar 31 2024 3.22% 10.56% 23.48% 10.56% 10.56%
Secondary Benchmark
MSCI ACWI ex USA Index
Mar 31 2024 3.13% 4.69% 14.90% 4.69% 4.69%
Tertiary Benchmark
Bloomberg U.S. Aggregate Bond Index
Mar 31 2024 0.92% -0.78% 5.99% -0.78% -0.78%

as of May 31 2024

2018 2019 2020 2021 2022 2023
Fund at NAV -6.34% 15.81% 6.44% 13.45% -16.51% 15.48%
Primary Benchmark
S&P 500 Index
-4.38% 31.49% 18.40% 28.71% -18.11% 26.29%
Secondary Benchmark
MSCI ACWI ex USA Index
-14.20% 21.51% 10.65% 7.82% -16.00% 15.62%
Tertiary Benchmark
Bloomberg U.S. Aggregate Bond Index
0.01% 8.72% 7.51% -1.54% -13.01% 5.53%

Past performance is not a reliable indicator of future performance. The investment return and principal value of an investment will fluctuate. Upon redemption, shares may be worth more or less than the original cost. The current performance may be higher or lower than the quoted performance. All results are historical and assume the reinvestment of dividends and capital gains. To view SEC standardized performance select the most recent quarterly period ending March, June, September or December. All other periods shown are non-standardized performance and are not valid without SEC standardized performance.

The performance figures shown above reflect the impact of fees and expenses for the funds' share class, and include the reinvestment of all income dividends and capital gains distributions, but do not include the effect of taxation. State Street Global Advisors ("SSGA") may have reimbursed certain expenses or waived certain fees during the periods shown. Absent those reimbursements, the Fund's total return or yield would have been lower.

On July 1, 2016 State Street Corporation, the parent company of SSGA Funds Management, Inc., and State Street Global Markets, LLC acquired the asset management and advisory services business of GE Asset Management, Incorporated, the former investment adviser to the Fund. As of that date, SSGA Funds Management, Inc. became the investment adviser to the Fund and State Street Global Markets, LLC became the distributor for the Fund. Effective May 1, 2017, State Street Global Markets, LLC was renamed State Street Global Advisors Funds Distributors, LLC. Any information, data or performance provided prior to that date is that of GE Asset Management, Incorporated.

None of the Funds or share classes (if applicable) assess a sales charge upon the purchase or redemption of shares.

The blended index is not the State Street Total Return V.I.S. Fund's benchmark and is being shown for illustrative purposes only. The blended index is not intended to represent the current or targeted asset allocation of the Fund.

The Total Annual Fund Operating Expenses shown for each Fund share class reflects the total annual operating expenses of the Fund share class prior to any fee waivers or expense reimbursements, as provided in the most recent Fund prospectus. Actual Fund operating expenses will change over time based on Fund asset levels and other factors and may be higher or lower than those estimated for the current fiscal year.

Index returns are unmanaged and do not reflect the deduction of any fees or expenses. Index returns reflect all items of income, gain and loss and the reinvestment of dividends and other income as applicable. You can not invest directly in an index.

*Morningstar US Insurance Allocation - 50% to 70% Equity open end funds universe. Information has been obtained from Morningstar, a third party source deemed to be reliable; however State Street Global Advisors ("SSGA") has not undertaken any independent analysis and provides no representation as to the accuracy of such information. Use of this content requires expert knowledge. This analytical data is intended for institutional investors only and is based on gross performance information before deduction of advisory fees.

© Morningstar 2022. All Rights Reserved. The information, data analysis and opinions contained herein: (1) include the confidential and proprietary information of Morningstar Inc., (2) may not be copied or re-distributed, (3) do not constitute investment advice by Morningstar, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analysis or opinions or their use. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results.

Gross Expense Ratio: 0.65%

Risk Analysis

as of Apr 30 2024
as of Mar 31 2024

Month End as of Apr 30 2024

Risk Factor 3 Years 5 Years
Alpha -4.89% -4.40%
Beta 0.70 0.68
Std Deviation 12.66% 12.89%
Information Ratio -1.07 -1.20
R-squared 91.78% 91.25%
Sharpe Ratio -0.12 0.21
Tracking Error 6.40% 7.12%

Quarter End as of Mar 31 2024

Risk Factor 3 Years 5 Years
Alpha -4.96% -4.56%
Beta 0.70 0.68
Std Deviation 12.64% 12.81%
Information Ratio -1.28 -1.33
R-squared 91.77% 91.04%
Sharpe Ratio 0.06 0.29
Tracking Error 6.37% 7.11%

The risk statistics are calculated against the fund's primary benchmark.

Risk Measures - Alpha, Beta and R-Squared are calculated against the noted benchmark. Annualized standard deviation and Sharpe Ratio are not calculated against a benchmark.

Alpha - Measures a manager's contribution to performance due to security selection or market timing relative to the index.

Beta - Measures the portfolio's sensitivity to market movements in the index.

R-Squared - A measure that indicates the extent to which fluctuations in portfolio returns are correlated with those of the index.

Standard Deviation - A measure of total risk. It measures the degree to which a fund's quarterly returns vary from the mean of the fund's quarterly returns over the period measured.

Sharpe Ratio -A measure that uses standard deviation and excess return to determine reward per unit of risk.

Asset Allocation

Fund Asset Allocation as of Apr 30 2024

Sector Weight
US Large Cap Equity 41.92%
Cash/Other 25.72%
US Investment Grade 19.97%
World Ex US 15.13%
US Small Cap Equity 10.13%

Geographical Breakdown

Refer to Portfolio Holdings for Portfolio's full holding details.

The securities information regarding holdings, allocations and other characteristics are presented to illustrate examples of securities that have been bought and the diversity of areas in which we may invest as of a particular date. It may not be representative of the portfolio's current or future investments and should not be construed as a recommendation to purchase or sell a particular security.

"Cash Equivalents" includes an investment in the State Street Institutional Government Money Market Fund. "Other" includes accruals. As of 07/01/2016 State Street Global Advisors is the Investment Advisor of the Fund. SSGA Funds Management, Inc. serves as the investment advisor of the State Street Institutional Government Money Market Fund.

"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 Total Return V.I.S. Fund - Class 1 . Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to State Street Total Return V.I.S. Fund - Class 1.

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

MSCI ACWI ex-US (MSCI ACWI xUS) is a market-capitalization-weighted index maintained by MSCI and designed to provide a broad measure of stock performance throughout the world, with the exception of U.S.-based companies. The index includes both developed and emerging markets.

S&P 500® (S&P 500) Index is an unmanaged, market capitalization-weighted index of 500 widely held U.S. stocks recognized by investors to be representative of the stock market in general. Standard & Poor's and S&P 500 are trademarks of the Standard & Poor's Financial Services LLC ("S&P").

The blended index is not the State Street Total Return V.I.S. Fund's benchmark and is being shown for illustrative purposes only. The blended index is not intended to represent the current or targeted asset allocation of the Fund.

The State Street Variable Insurance Series Funds are available only through variable annuity and variable life contracts offered by other financial institutions. Variable annuities have fees and charges that include mortality and expense, administrative fees, contract fees, and expenses associated with the underlying investment options.