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State Street S&P 500 Index V.I.S. Fund - Class 1 SSSPX

Considering the risks: A principal risk of investing in the Fund is the risk that the value of equity securities may decline and the risk that the Fund's return may not correlate exactly with that of the S&P 500® Index. 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. Securities with different characteristics tend to shift in and out of favor depending upon market and economic conditions. 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.

$58.25
as of Oct 02 2024
Assets Under Management
$198.41 M
as of Aug 31 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.

0.31%
1 Day Nav Change
+$0.01 (0.02%)
as of Oct 02 2024
Overall Morningstar Rating
as of Aug 31 2024

Fund Objective

The State Street S&P 500 Index V.I.S. Fund seeks growth of capital and accumulation of income that corresponds to the investment return of the S&P 500® Index.

Investment Strategy

The Fund uses an index tracking management strategy designed to track the performance of the S&P 500® Index (“S&P 500” or “Index”). The Fund is not managed according to traditional methods of "active" investment management, which involve the buying and selling of securities based upon economic, financial and market analysis and investment judgment. Instead, the Fund, using an "indexing" investment approach, seeks to provide investment results that, before expenses, correspond generally to the total return of the S&P 500. The Fund generally intends to invest in all stocks comprising the S&P 500 in approximate proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all stocks in those weightings. In those circumstances, the Fund may purchase a sample of the stocks in the Index in proportions expected by SSGA FM to match generally the performance of the Index as a whole. 

Fund Information as of Oct 03 2024

Investment Style Large Cap Core
Benchmark S&P 500 Index
Inception Date Apr 15 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.

0.31%
Base Currency USD
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions (GEBS)
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Annually

Investment Team

Karl A Schneider, CAIA

Head of Traditional Beta Strategies, Global Equity Beta Solutions - Americas

Olga Winner, CFA

Portfolio Manager

Listing Information as of Oct 03 2024

Exchange Trading Currency Listing Date Ticker CUSIP
NASDAQ REGULAR MARKET USD Apr 15 1985 SSSPX 85751Q104

Fund Characteristics as of Aug 31 2024

Number of Holdings 503
Med Market Cap ($M) 36,027.50
Weighted Average Market Cap ($M) 961,249.71
Price/Book Ratio 4.88
Price/Earnings Ratio FY1 20.63
Dividend Yield (%)

Fund Dividend Yield

The sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

Index Dividend Yield

The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.

1.26
Annual Portfolio Turnover (%) 6.63

Index Characteristics as of Aug 31 2024

Number of Holdings 500
Med Market Cap ($M) 36,636.00
Weighted Average Market Cap ($M) 954,508.58
Price/Book Ratio 4.88
Price/Earnings Ratio FY1 20.63
Dividend Yield (%) 1.34

Fund Net Asset Value as of Oct 02 2024

NAV

NAV

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

$58.25
Percent Change 0.02%
Price Change $0.01
Offer Price $58.25
NAV 52 Week High $58.79(2024-09-30)
NAV 52 Week Low $43.51(2023-10-27)

Morningstar Rating as of Aug 31 2024

Category Overall 3 Years 5 Years 10 Years
Large Blend ★★★★ ★★★★ ★★★★ ★★★★
# of Funds in Category - 1292 1185 893

Fund Performance

  • Fund Inception Date: Apr 15 1985

as of Aug 31 2024

As Of 1 Year 3 Year 5 Year 10 Year Since Inception
Apr 15 1985
Fund at NAV Aug 31 2024 26.81% 9.08% 15.56% 12.62% 11.19%
Benchmark
S&P 500 Index
Aug 31 2024 27.14% 9.38% 15.92% 12.98% 11.57%

as of Jun 30 2024

As Of 1 Year 3 Year 5 Year 10 Year Since Inception
Apr 15 1985
Fund at NAV Jun 30 2024 24.26% 9.70% 14.69% 12.50% 11.14%
Benchmark
S&P 500 Index
Jun 30 2024 24.56% 10.01% 15.05% 12.86% 11.52%

as of Aug 31 2024

As Of 1 Month 3 Month 6 Month QTD YTD
Fund at NAV Aug 31 2024 2.40% 7.31% 11.42% 3.62% 19.29%
Benchmark
S&P 500 Index
Aug 31 2024 2.43% 7.39% 11.59% 3.67% 19.53%

as of Jun 30 2024

As Of 1 Month 3 Month 6 Month QTD YTD
Fund at NAV Jun 30 2024 3.56% 4.20% 15.13% 4.20% 15.13%
Benchmark
S&P 500 Index
Jun 30 2024 3.59% 4.28% 15.29% 4.28% 15.29%

as of Sep 30 2024

2018 2019 2020 2021 2022 2023
Fund at NAV -4.73% 31.05% 17.92% 28.27% -18.31% 25.96%
Benchmark
S&P 500 Index
-4.38% 31.49% 18.40% 28.71% -18.11% 26.29%

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 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 Large Blend 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: 0.31%

Risk Analysis

as of Aug 31 2024
as of Jun 30 2024

Month End as of Aug 31 2024

Risk Factor 3 Years 5 Years
Alpha -0.28% -0.33%
Beta 1.00 1.00
Std Deviation 17.57% 17.91%
Information Ratio -5.31 -4.63
R-squared 100.00% 100.00%
Sharpe Ratio 0.33 0.75
Tracking Error 0.06% 0.08%

Quarter End as of Jun 30 2024

Risk Factor 3 Years 5 Years
Alpha -0.29% -0.33%
Beta 1.00 1.00
Std Deviation 17.61% 17.95%
Information Ratio -5.15 -4.59
R-squared 100.00% 100.00%
Sharpe Ratio 0.38 0.70
Tracking Error 0.06% 0.08%

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.

Top Holdings

The top ten holdings do not include money market instruments and/or futures contracts. Depositary receipts are normally combined with the underlying security. The securities cited may not represent the Fund's current or future holdings and should not be construed as a recommendation to purchase or sell a particular security. The figures presented do not include the Fund's entire investment portfolio and may change at any time.

Fund Top Holdings as of Sep 30 2024

Name Weight
APPLE INC 7.10%
MICROSOFT CORPORATION 6.41%
NVIDIA CORPORATION 5.98%
ALPHABET INC 3.55%
AMAZON.COM INC 3.49%
META PLATFORMS INC 2.51%
BERKSHIRE HATHAWAY INC 1.69%
BROADCOM INC 1.61%
TESLA INC (PRE-REINCORPORATION) 1.45%
ELI LILLY AND COMPANY 1.40%

Sector Allocation

as of Aug 31 2024
as of Aug 31 2024

Fund Sector Allocation as of Aug 31 2024

Sector Weight
Information Technology 30.14%
Financials 15.66%
Health Care 11.81%
Consumer Discretionary 9.37%
Communication Services 8.51%
Industrials 8.15%
Consumer Staples 5.83%
Energy 3.43%
Derivatives 3.00%
Utilities 2.36%
Real Estate 2.30%
Materials 2.20%
Accrued Income 0.12%

Index Sector Allocation as of Aug 31 2024

Sector Index
Information Technology 31.05%
Financials 13.32%
Health Care 12.19%
Consumer Discretionary 9.67%
Communication Services 8.76%
Industrials 8.46%
Consumer Staples 6.00%
Energy 3.53%
Derivatives 0.00%
Utilities 2.43%
Real Estate 2.35%
Materials 2.24%
Accrued Income 0.00%

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.

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 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.