SPDR® MSCI ACWI Low Carbon Target ETF LOWC

Important Risk Disclosure

NAV

NAV

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

$110.43

as of Nov 25 2020

Base Currency

USD

Assets Under Management

$77.30 M

as of Nov 25 2020

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.

0.30%


Key Features

Key Features

  • The SPDR® MSCI ACWI Low Carbon Target ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI Low Carbon Target Index (the "Index")
  • Seeks to offer reduced exposure to carbon emissions and fossil fuel reserves and full market participation for investors conscious of carbon as a risk premia
  • LOWC's Index reweights the securities in the MSCI ACWI Index to favor companies with lower carbon emissions and fossil fuel reserves within a tracking error target constraint of 30 basis points relative to the MSCI ACWI Index
  • This index includes large and mid-cap stocks across developed and emerging market countries

About this Benchmark

About this Benchmark

The MSCI ACWI Low Carbon Target Index is designed to address two dimensions of carbon exposure - carbon emissions and fossil fuel reserves. By overweighting companies with low carbon emissions relative to sales and per dollar of market capitalization, the Index aims to reflect a lower carbon exposure than that of the broad market. The Index is designed to achieve a target level of tracking relative to a broad market index (such as the Parent Index) while minimizing the carbon exposure. The Index is a subset of the MSCI ACWI Index (the Parent Index), which measures the combined equity market performance of developed and emerging market countries.


Fund Information as of Nov 25 2020

Fund Information as of Nov 25 2020
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

^ SSGA Funds Management, Inc. ("SSGA FM" or the "Adviser") has contractually agreed to waive its management fee and/or reimburse certain expenses, until January 31, 2021, so that the net annual Fund operating expenses of the Fund, before application of any fees and expenses not paid by the Adviser pursuant to the Investment Advisory Agreement, if any, are limited to 0.20% of the Fund's average daily net assets. The contractual fee waiver does not provide for the recoupment by the Adviser of any fees the Adviser previously waived. The Adviser may continue the waiver and/or reimbursement from year to year, but there is no guarantee that the Adviser will do so and the waiver and/or reimbursement may be cancelled or modified at any time after January 31, 2021. The waiver and/or reimbursement may not be terminated prior to January 31, 2021 except with the approval of the Fund's Board of Trustees.

Base Currency Investment Manager
MSCI ACWI Low Carbon Target Index Nov 25 2014 No 0.30% 0.20% USD SSGA Funds Management, Inc.
Benchmark MSCI ACWI Low Carbon Target Index
Inception Date Nov 25 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.

0.30%
Net Expense Ratio

^ SSGA Funds Management, Inc. ("SSGA FM" or the "Adviser") has contractually agreed to waive its management fee and/or reimburse certain expenses, until January 31, 2021, so that the net annual Fund operating expenses of the Fund, before application of any fees and expenses not paid by the Adviser pursuant to the Investment Advisory Agreement, if any, are limited to 0.20% of the Fund's average daily net assets. The contractual fee waiver does not provide for the recoupment by the Adviser of any fees the Adviser previously waived. The Adviser may continue the waiver and/or reimbursement from year to year, but there is no guarantee that the Adviser will do so and the waiver and/or reimbursement may be cancelled or modified at any time after January 31, 2021. The waiver and/or reimbursement may not be terminated prior to January 31, 2021 except with the approval of the Fund's Board of Trustees.

0.20%
Base Currency USD
Investment Manager SSGA Funds Management, Inc.
Management Team Distributor Distribution Frequency
Global Equity Beta Solutions State Street Global Advisors Funds Distributors, LLC Semi-Annually
Management Team Global Equity Beta Solutions
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Semi-Annually

Listing Information as of Nov 25 2020

Listing Information as of Nov 25 2020
Exchange Listing Date Trading Currency Ticker CUSIP ISIN
NYSE ARCA EXCHANGE Nov 26 2014 USD LOWC 78463X194 US78463X1946
Exchange NYSE ARCA EXCHANGE
Listing Date Nov 26 2014
Trading Currency USD
Ticker LOWC
CUSIP 78463X194
ISIN US78463X1946

Fund Characteristics as of Nov 25 2020

Fund Characteristics as of Nov 25 2020
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
12.60% 1,583 2.59 21.43 $290,452.00 M
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.

12.60%
Number of Holdings 1,583
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.

2.59
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.

21.43
Weighted Average Market Cap $290,452.00 M

Index Characteristics as of Oct 31 2020

Index Characteristics as of Oct 31 2020
Est. 3-5 Year EPS Growth Number of Holdings Price/Cash Flow Price/Earnings Price/Earnings Ratio FY1
12.30% 2,031 9.11 20.63 19.62
Est. 3-5 Year EPS Growth 12.30%
Number of Holdings 2,031
Price/Cash Flow 9.11
Price/Earnings 20.63
Price/Earnings Ratio FY1 19.62

Index Statistics as of Oct 31 2020

Index Statistics as of Oct 31 2020

Weighted Average Market Cap
$247,713.03 M
Weighted Average Market Cap $247,713.03 M

Yields as of Nov 25 2020

Yields as of Nov 25 2020
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.

Fund 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

Index Dividend Yield

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

1.57% 1.47% 1.75% 2.12%
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.

1.57%
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.

1.47%
Fund 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.

1.75%
Index Dividend Yield

Index Dividend Yield

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

2.12%

Fund Market Price as of Nov 25 2020

Fund Market Price as of Nov 25 2020
Bid/Ask

Bid/Ask Mid Point

(Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given security.

Closing Price

Closing Price

Market Price of last reported trade on the exchange.

Day High Day Low Exchange Volume (Shares)

Exchange Volume (shares)

Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.

Premium/Discount

Premium/Discount to NAV

Shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask - Closing NAV) / Closing NAV * 100)

30-Day Median Bid/Ask Spread

The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.

$110.67 $110.62 $110.62 $110.50 309 0.21% 0.14%
Bid/Ask

Bid/Ask Mid Point

(Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given security.

$110.67
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$110.62
Day High $110.62
Day Low $110.50
Exchange Volume (Shares)

Exchange Volume (shares)

Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.

309
Premium/Discount

Premium/Discount to NAV

Shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask - Closing NAV) / Closing NAV * 100)

0.21%
30-Day Median Bid/Ask Spread

The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.

0.14%

Premium Discount to NAV Graph and Summary

The line graph and table below show historical information about the differences between the daily closing price for shares of the fund (as determined by the fund’s listing exchange) and the fund’s net asset value over certain periods. The vertical axis of the line graph shows the premium/discount expressed as a percentage of NAV. The horizontal axis indicates the date at which the premium/discount occurred. The table shows the number of trading days in which the fund traded at a premium or at a discount to NAV.

x axis: Dates
y axis: Premium or Discount (bps)

Number of Days Summary

Calendar Year 2019 First Quarter of 2020 Second Quarter of 2020 Third Quarter of 2020
Days Traded at Premium
Number of days the ETF closing price was above the NAV.
178 26 22 40
Days Traded at Discount
Number of days the ETF closing price was below the NAV.
74 36 41 24
Days Traded at Premium
Number of days the ETF closing price was above the NAV.
Calendar Year 2019 178
First Quarter of 2020 26
Second Quarter of 2020 22
Third Quarter of 2020 40
Days Traded at Discount
Number of days the ETF closing price was below the NAV.
Calendar Year 2019 74
First Quarter of 2020 36
Second Quarter of 2020 41
Third Quarter of 2020 24
Fund Data

Because ETFs trade like stocks at current market prices, shareholders may pay more than a fund’s NAV when purchasing fund shares and may receive less than a fund’s NAV when selling fund shares.

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 1-866-787-2257 download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.


Fund Net Cash Amount as of Nov 25 2020

Fund Net Cash Amount as of Nov 25 2020
Net Cash Amount
$170,579.32
Net Cash Amount $170,579.32

Fund Net Asset Value as of Nov 25 2020

Fund Net Asset Value as of Nov 25 2020
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 Assets Under Management
$110.43 700,000.00 $77.30 M
NAV

NAV

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

$110.43
Shares Outstanding 700,000.00
Assets Under Management $77.30 M
Most Recent NAV / NAV History

Fund Performance

Fund Performance

  • Fund Inception Date: Nov 25 2014

as of Oct 31 2020

as of Sep 30 2020

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Nov 25 2014
Fund Before Tax
NAV Oct 31 2020 -2.37% -2.37% -0.48% 5.54% 5.98% 8.34% - 6.79%
Market Value Oct 31 2020 -2.32% -2.32% -0.21% 5.86% 5.84% 8.39% - 6.82%
MSCI ACWI Low Carbon Target Index Oct 31 2020 -2.38% -2.38% -0.48% 5.57% 5.88% 8.17% - 6.61%
Fund After Tax
Return after Taxes on Distributions Oct 31 2020 -2.37% -2.37% -0.81% 4.87% 5.35% 7.71% - 6.20%
Return after Taxes on Distributions and Sale of Fund Shares Oct 31 2020 -1.40% -1.40% -0.29% 3.45% 4.47% 6.43% - 5.21%
MSCI ACWI Low Carbon Target Index Oct 31 2020 -2.38% -2.38% -0.48% 5.57% 5.88% 8.17% - 6.61%
As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Nov 25 2014
Fund Before Tax
NAV Sep 30 2020 -3.20% 8.32% 1.94% 11.18% 7.53% 10.51% - 7.33%
Market Value Sep 30 2020 -3.09% 8.45% 2.17% 11.19% 7.46% 10.45% - 7.35%
MSCI ACWI Low Carbon Target Index Sep 30 2020 -3.23% 8.34% 1.94% 11.23% 7.43% 10.34% - 7.15%
Fund After Tax
Return after Taxes on Distributions Sep 30 2020 -3.20% 8.32% 1.60% 10.47% 6.88% 9.87% - 6.73%
Return after Taxes on Distributions and Sale of Fund Shares Sep 30 2020 -1.89% 4.93% 1.14% 6.78% 5.67% 8.19% - 5.64%
MSCI ACWI Low Carbon Target Index Sep 30 2020 -3.23% 8.34% 1.94% 11.23% 7.43% 10.34% - 7.15%

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: 0.30%

Net Expense Ratio: 0.20%


Top Holdings

Subject to change.

Top Holdings

Subject to change.

Fund Top Holdingsas of Nov 25 2020

Fund Top Holdings as of Nov 25 2020

Name Shares Held Weight
Apple Inc. 23,867 3.59%
Microsoft Corporation 9,869 2.74%
Amazon.com Inc. 574 2.37%
Facebook Inc. Class A 3,242 1.16%
Alphabet Inc. Class A 425 0.97%
Alibaba Group Holding Ltd. Sponsored ADR 2,666 0.96%
Alphabet Inc. Class C 405 0.93%
Taiwan Semiconductor Manufacturing Co. Ltd. 35,000 0.78%
Tencent Holdings Ltd. 8,084 0.77%
Tesla Inc 1,027 0.76%
Download All Holdings: Daily

Sector Allocation

Sector Allocation
Fund Sector Breakdownas of Nov 25 2020
Index Sector Breakdownas of Oct 31 2020

Fund Sector Breakdown as of Nov 25 2020

Sector Weight
Information Technology 20.69%
Financials 14.64%
Consumer Discretionary 13.08%
Health Care 11.70%
Industrials 10.89%
Communication Services 9.39%
Consumer Staples 7.72%
Materials 3.95%
Real Estate 2.84%
Utilities 2.55%
Energy 2.54%

Index Sector Breakdown as of Oct 31 2020

Sector Weight
Information Technology 21.10%
Financials 13.67%
Consumer Discretionary 13.01%
Health Care 12.32%
Industrials 10.32%
Communication Services 9.73%
Consumer Staples 8.26%
Materials 3.86%
Real Estate 2.92%
Utilities 2.64%
Energy 2.17%

Geographical Breakdown

Geographical Breakdown

Purchase Information

Purchase Information

Buying and Selling ETFs

ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.

ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

Ordinary brokerage commissions may apply.


Fund Footnotes

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future.

Unless otherwise noted all information contained herein is that of the SPDR® MSCI ACWI Low Carbon Target ETF.

As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.

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.

MSCI - Net total return indices reinvest dividends after the deduction of withholding taxes, using (for international indices) a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.