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Name

As of 04/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

State Street Aggregate Bond Index Fund

SSFDX | Fund

$83.89

$816 M

3.34%

$2.80

0.35%

Vitals

YTD Return

-2.5%

1 yr return

-0.8%

3 Yr Avg Return

-3.5%

5 Yr Avg Return

0.3%

Net Assets

$816 M

Holdings in Top 10

100.0%

52 WEEK LOW AND HIGH

$83.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 29.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

State Street Aggregate Bond Index Fund

SSFDX | Fund

$83.89

$816 M

3.34%

$2.80

0.35%

SSFDX - Profile

Distributions

  • YTD Total Return -2.5%
  • 3 Yr Annualized Total Return -3.5%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.65%
DIVIDENDS
  • Dividend Yield 3.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    State Street Aggregate Bond Index Fund
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Sep 19, 2014
  • Shares Outstanding
    5
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Marc DiCosimo

Fund Description

The Fund is an “index” fund that seeks to track, before fees and expenses, the total return performance of the Bloomberg U.S. Aggregate Bond Index (the “U.S. Aggregate Bond Index” or sometimes referred to in context as the “Index”) over the long term. As an “index” fund, 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.
In seeking to track the performance of the Index, the Fund employs a sampling strategy, which means that the Fund will not typically purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index, or securities the Adviser considers to be comparable to securities in the Index, in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The number of holdings in the Fund will be based on a number of factors, including asset size of the Fund. SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, generally expects the Fund to hold fewer than the total number of securities in the Index, but reserves the right to hold as many securities as it believes necessary to achieve the Fund's investment objective.
Under normal circumstances, the Fund generally invests substantially all, but at least 80%, of its net assets (plus borrowings, if any) in securities comprising the Index or in securities that the Adviser determines have economic characteristics that are comparable to the economic characteristics of securities that comprise the Index. The notional value of the Fund's investments in derivatives or other synthetic instruments that provide exposures comparable, in the judgment of the Adviser, to investments in the Index may be counted toward satisfaction of this 80% policy. The Fund will provide shareholders with at least sixty (60) days' notice prior to any change in this 80% investment policy. The Fund may also invest in other debt securities, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser).
The Fund may at times purchase or sell futures contracts on fixed-income securities, or options on those futures, in lieu of investing directly in fixed-income securities themselves. The Fund may also purchase or sell futures contracts and related options on the Index (or other fixed-income securities indices). The Fund might do so, for example, in order to adjust the interest-rate sensitivity of the Fund to bring the characteristics of the Fund more closely in line with those of the Index. It might also do so to increase its investment exposure pending investment of cash in bonds or other investments or to reduce its investment exposure in situations where it intends to sell a portion of the securities in its portfolio but the sale has not yet been completed. The Fund may also enter into other derivatives transactions, including the use of options or swap transactions, in lieu of investing directly in the stocks making up the Index. The Fund may, to the extent permitted by applicable law, invest in shares of other mutual funds whose investment objectives and policies are similar to those of the Fund (including funds advised by the Adviser). 
The Index is designed to measure the performance of the U.S. dollar denominated investment grade bond market, which includes investment grade (must be Baa3/BBB-/BBB- or higher using the middle rating of Moody's Investors Service, Inc., Standard & Poor's, and Fitch Inc.) government bonds, investment grade corporate bonds, mortgage pass-through securities, commercial mortgage backed securities and other asset backed securities that are publicly for sale in the United States. The securities in the Index must have at least 1 year remaining to maturity and must have $300 million or more of outstanding face value. Asset backed securities must have a minimum deal size of $500 million and a minimum tranche size of $25 million. For commercial mortgage backed securities, the original aggregate transaction must have a minimum deal size of $500 million, and a minimum tranche size of $25 million; the aggregate outstanding transaction sizes must be at least $300 million to remain in the Index. In addition, the securities must be U.S. dollar denominated, fixed rate, non-convertible, and taxable. Certain types of securities, such as flower bonds, targeted investor notes, and state and local government series bonds are excluded from the Index. Also excluded from the Index are structured notes with embedded swaps or other special features, private placements, floating rate securities and Eurobonds. The Index is market capitalization weighted and the securities in the Index are updated on the last business day of each month. It is not possible to invest directly in the Index. 
The Fund expects typically to invest a significant portion of its assets in U.S. agency mortgage pass-through securities up to a total weight that is comparable to that of the Index. Most transactions in mortgage pass-through securities occur through standardized contracts for future delivery in which the exact mortgage pools to be delivered are not specified until a few days prior to settlement, referred to as a “to-be-announced transaction” or “TBA Transaction.” In a TBA Transaction, the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount and price. The actual pools delivered generally are determined two days prior to the settlement date; however, it is not anticipated that the Fund will receive pools, but instead will participate in rolling TBA Transactions. The Fund expects to enter into such contracts on a regular basis. 
The Fund seeks to achieve its investment objective by investing substantially all of its investable assets in the Aggregate Bond Index Portfolio, which has substantially identical investment policies to the Fund. When the Fund invests in this “master-feeder” structure, the Fund's only investments are shares of the Portfolio and it participates in the investment returns achieved by the Portfolio. Descriptions in this section of the investment activities of the “Fund” also generally describe the expected investment activities of the Portfolio. 
The Index is sponsored by Bloomberg Index Services Limited (the “Index Provider”) which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index. 
Read More

SSFDX - Performance

Return Ranking - Trailing

Period SSFDX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.5% -9.3% 2.9% 75.92%
1 Yr -0.8% -10.4% 10.8% 72.24%
3 Yr -3.5%* -10.8% 24.9% 56.14%
5 Yr 0.3%* -6.8% 190.9% 46.15%
10 Yr N/A* -2.6% 73.4% N/A

* Annualized

Return Ranking - Calendar

Period SSFDX Return Category Return Low Category Return High Rank in Category (%)
2023 2.3% -16.2% 8.1% 39.50%
2022 -15.2% -34.7% 131.9% 24.90%
2021 -4.9% -11.6% 4.4% 92.36%
2020 4.4% -10.1% 946.1% 44.85%
2019 5.5% -1.7% 16.9% 52.75%

Total Return Ranking - Trailing

Period SSFDX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.5% -9.3% 2.9% 75.92%
1 Yr -0.8% -10.4% 10.8% 72.24%
3 Yr -3.5%* -10.8% 24.9% 56.14%
5 Yr 0.3%* -6.8% 190.9% 46.15%
10 Yr N/A* -2.6% 73.4% N/A

* Annualized

Total Return Ranking - Calendar

Period SSFDX Return Category Return Low Category Return High Rank in Category (%)
2023 5.4% -11.3% 11.0% 72.74%
2022 -13.4% -32.2% 131.9% 42.38%
2021 -2.0% -9.4% 9.2% 85.47%
2020 9.7% -1.9% 1009.0% 22.37%
2019 8.5% 1.1% 21668.0% 59.38%

NAV & Total Return History

SSFDX - Holdings

Concentration Analysis

SSFDX Category Low Category High SSFDX % Rank
Net Assets 816 M 2.9 M 314 B 58.24%
Number of Holdings 1 1 17889 99.90%
Net Assets in Top 10 595 M -106 M 36.5 B 39.29%
Weighting of Top 10 100.00% 4.4% 134.1% 1.68%

Top 10 Holdings

  1. State Street Aggregate Bond Idx 100.00%

Asset Allocation

Weighting Return Low Return High SSFDX % Rank
Bonds 		96.05% 0.00% 215.98% 44.22%
Cash 		2.70% -54.51% 79.52% 52.75%
Convertible Bonds 		1.25% 0.00% 7.93% 58.75%
Stocks 		0.00% 0.00% 99.93% 76.37%
Preferred Stocks 		0.00% 0.00% 74.68% 73.97%
Other 		0.00% -13.23% 50.66% 87.72%

Bond Sector Breakdown

Weighting Return Low Return High SSFDX % Rank
Government 		43.71% 0.00% 86.23% 8.01%
Securitized 		29.21% 0.00% 98.40% 51.73%
Corporate 		23.86% 0.00% 100.00% 73.29%
Cash & Equivalents 		2.72% 0.00% 76.23% 48.92%
Municipal 		0.49% 0.00% 100.00% 47.08%
Derivative 		0.00% -5.38% 50.66% 71.12%

Bond Geographic Breakdown

Weighting Return Low Return High SSFDX % Rank
US 		89.73% 0.00% 215.98% 67.49%
Non US 		6.32% 0.00% 39.04% 9.63%

SSFDX - Expenses

Operational Fees

SSFDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.35% 0.01% 39.10% 89.21%
Management Fee 0.03% 0.00% 1.76% 1.98%
12b-1 Fee 0.00% 0.00% 1.00% 9.41%
Administrative Fee 0.05% 0.01% 0.50% 28.36%

Sales Fees

SSFDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SSFDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SSFDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 29.00% 2.00% 493.39% 8.07%

SSFDX - Distributions

Dividend Yield Analysis

SSFDX Category Low Category High SSFDX % Rank
Dividend Yield 3.34% 0.00% 9.87% 79.22%

Dividend Distribution Analysis

SSFDX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Monthly

Net Income Ratio Analysis

SSFDX Category Low Category High SSFDX % Rank
Net Income Ratio 1.65% -1.28% 4.79% 53.62%

Capital Gain Distribution Analysis

SSFDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Monthly Annually

Distributions History

View More +

SSFDX - Fund Manager Analysis

Managers

Marc DiCosimo

Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

Marc DiCosimo, CFA is a Vice President of SSGA Funds Management and a Senior Portfolio Manager in the Fixed Income Beta Solutions Group within the Fixed Income, Cash and Currency Team. He joined the firm in 2013 and is responsible for managing a broad range of fixed income strategies. Previously, Mr. DiCosimo worked at Wellington Management as a fixed income portfolio analyst on the Mortgage Backed Securities Team. Mr. DiCosimo has fifteen years of fixed income experience working at Loomis Sayles and Saxon Mortgage Capital. Mr. DiCosimo graduated from the University of Richmond with a degree in Accounting. He is a Chartered Financial Analyst (CFA) and is a member of the CFA Institute and CFA Society Boston, Inc.

Joanna Madden

Start Date

Tenure

Tenure Rank

Mar 24, 2016

6.19

6.2%

Joanna Madden is a Vice President of SSGA and SSGA FM and Portfolio Manager within the Fixed Income Beta Solutions team since 2013. Previously, Ms. Madden was a Portfolio Manager within the US Cash Management Group responsible for short term liquidity investments across all the cash and securities lending portfolios managed in Boston. She joined the Boston group in April 2010 after working as a Portfolio Manager with the London Cash Management Group. Prior to her portfolio management role, she was a Product Analyst for the London Cash Management Group where she provided analytical and business support. Before joining SSGA in London, Ms. Madden worked as an Operations Specialist supporting the Boston Cash Management Group. Ms. Madden received a Bachelor of Science degree in Political Science from Loyola University of Chicago, Illinois.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.8 1.16

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