SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
ETF
EFAX
Price as of:
$41.56
+ $0.12
+ 0.28%
Primary Theme
fund company
Name
As of 11/01/2024Price
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
Vitals
YTD Return
8.2%
1 yr return
19.0%
3 Yr Avg Return
1.4%
5 Yr Avg Return
5.9%
Net Assets
$257 M
Holdings in Top 10
18.0%
52 WEEK LOW AND HIGH
$41.4
$35.45
$44.22
Expenses
OPERATING FEES
Expense Ratio 0.20%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 6.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/01/2024Price
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
EFAX - Profile
Distributions
- YTD Total Return 8.2%
- 3 Yr Annualized Total Return 1.4%
- 5 Yr Annualized Total Return 5.9%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.66%
- Dividend Yield 3.2%
- Dividend Distribution Frequency SemiAnnual
Fund Details
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Legal NameSPDR MSCI EAFE Fossil Fuel Reserves Free ETF
-
Fund Family NameState Street Global Advisors - advised funds
-
Inception DateOct 24, 2016
-
Shares Outstanding3300000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Feehily
Fund Description
In seeking to track the performance of the MSCI EAFE ex Fossil Fuels Index (the “Index”), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the 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 quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, either may invest the Fund's assets in a subset of securities in the Index or may invest the Fund's assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index, as determined by the Adviser to be in the best interest of the Fund in pursuing its objective. The Fund is classified as “diversified” under the Investment Company Act of 1940, as amended; however, the Fund may become “non-diversified” solely as a result of tracking the Index (e.g., changes in weightings of one or more component securities). When the Fund is non-diversified, it may invest a relatively high percentage of its assets in a limited number of issuers.
Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index and in depositary receipts (including American Depositary Receipts (“ADRs”) or Global Depositary Receipts (“GDRs”)) based on securities comprising the Index. In addition, in seeking to track the Index, the
Fund may invest in equity securities that are not included in the Index (including common stock, preferred stock, depositary receipts and shares of other investment companies), cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser). In seeking to track the Index, the Fund's assets may be concentrated in an industry or group of industries, but only to the extent that the Index concentrates in a particular industry or group of industries. Futures contracts (a type of derivative instrument) may be used by the Fund in seeking performance that corresponds to the Index and in managing cash flows.
The Index is designed to measure the performance of companies in the MSCI EAFE Index that are “fossil fuel reserves free,” as determined by the screening methodology based on data from MSCI ESG Research. For purposes of the composition of the Index, fossil fuel reserves are defined as proved and probable reserves for coal, proved reserves for oil and proved reserves for natural gas used for energy purposes, but do not include metallurgical or coking coal, which is primarily used in connection with steel production. The Index is a subset of the MSCI EAFE Index (the “Parent Index”), which serves as the initial universe of eligible securities for the Index. The Parent Index captures large and mid-capitalization representation across developed market Europe, Australasia, and Far East countries, excluding the United States and Canada. In constructing the Index, the initial universe is screened to exclude companies in the Energy Sector, Utilities Sector or Diversified Metals & Mining Sub-Industry, as classified by the Global Industry Classification Standard (“GICS”), that own fossil fuel reserves. All other companies classified by GICS that own fossil fuel reserves and derive revenue from business segments associated with energy application of fossil fuels are also excluded from the Index. Examples of business segments associated with energy application of fossil fuels include thermal coal mining, oil and gas exploration and production and downstream activities. Companies that are not assessed by MSCI ESG Research on fossil fuel reserves data are not eligible for inclusion in the Index. The resulting fossil fuel reserves free companies are included in the Index. For purposes of determining which companies are excluded from the Index, the Index Provider (defined below) consults information disclosed by companies in sources including company publications, other public records, and third party data providers. The Index's screening methodology may result in inclusion of certain companies that own fossil fuel reserves, but that do not derive revenue from business segments associated with energy application of fossil fuels. As a result, in seeking to track the Index, the Fund may hold securities of companies that own fossil fuel reserves; however, under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of borrowings for investment purposes, in securities of companies that do not own fossil fuel reserves.
The Index is weighted by free float-adjusted market capitalization. A company's free float-adjusted market capitalization is calculated by multiplying the number of shares readily available in the market by the price of such shares. The Index is reconstituted quarterly as of the close of the last business day of February, May, August and November. New additions to the Parent Index are reviewed for inclusion in the Index each quarter, provided they have been added to the Parent Index by the rebalancing date. Any constituent deleted from the Parent Index is also deleted from the Index. As of November 30, 2023, a significant portion of the Fund comprised companies in the financial and industrial sectors, although this may change from time to time. As of November 30, 2023, countries represented in the Fund included Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. As of November 30, 2023, a significant portion of the Fund comprised companies located in Japan and Europe, although this may change from time to time. As of November 30, 2023, the Index comprised 754 securities.
The Index is sponsored by MSCI, Inc. (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.
EFAX - Performance
Return Ranking - Trailing
| Period | EFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.2% | -4.9% | 30.8% | 43.61% |
| 1 Yr | 19.0% | -1.8% | 41.3% | 35.29% |
| 3 Yr | 1.4%* | -17.0% | 45.4% | 44.36% |
| 5 Yr | 5.9%* | -34.2% | 74.4% | 53.09% |
| 10 Yr | N/A* | 0.7% | 31.8% | 80.50% |
* Annualized
Return Ranking - Calendar
| Period | EFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 14.7% | -1.4% | 22.0% | 30.66% |
| 2022 | -18.9% | -43.6% | 71.3% | 67.03% |
| 2021 | 7.7% | -28.5% | 18.9% | 27.48% |
| 2020 | 7.5% | -90.1% | 992.1% | 54.19% |
| 2019 | 20.0% | -1.9% | 38.8% | 44.70% |
Total Return Ranking - Trailing
| Period | EFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.2% | -4.9% | 30.8% | 43.61% |
| 1 Yr | 19.0% | -1.8% | 41.3% | 35.29% |
| 3 Yr | 1.4%* | -17.0% | 45.4% | 44.36% |
| 5 Yr | 5.9%* | -34.2% | 74.4% | 53.09% |
| 10 Yr | N/A* | 0.7% | 31.8% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | EFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 18.0% | 3.2% | 23.8% | 26.81% |
| 2022 | -16.7% | -43.6% | 144.8% | 62.79% |
| 2021 | 10.5% | -22.6% | 56.0% | 48.08% |
| 2020 | 9.6% | -89.7% | 1010.8% | 52.87% |
| 2019 | 23.5% | 4.3% | 38.8% | 36.70% |
EFAX - Holdings
Concentration Analysis
| EFAX | Category Low | Category High | EFAX % Rank | |
|---|---|---|---|---|
| Net Assets | 257 M | 3.3 M | 425 B | 71.36% |
| Number of Holdings | 716 | 1 | 10481 | 19.75% |
| Net Assets in Top 10 | 48.3 M | 1.01 M | 47.5 B | 76.26% |
| Weighting of Top 10 | 18.05% | 4.6% | 147.7% | 68.72% |
Top 10 Holdings
- Novo Nordisk A/S 3.08%
- ASML Holding NV 2.70%
- State Street Navigator Securities Lending Portfolio II 2.07%
- Nestle SA 1.78%
- AstraZeneca PLC 1.58%
- Toyota Motor Corp 1.42%
- SAP SE 1.39%
- Novartis AG 1.38%
- LVMH Moet Hennessy Louis Vuitton SE 1.38%
- Roche Holding AG 1.27%
Asset Allocation
| Weighting | Return Low | Return High | EFAX % Rank | |
|---|---|---|---|---|
| Stocks | 98.88% | 0.00% | 102.63% | 22.05% |
| Cash | 2.12% | 0.00% | 44.84% | 41.65% |
| Preferred Stocks | 0.42% | -0.05% | 6.57% | 37.67% |
| Other | 0.00% | -2.12% | 69.93% | 49.46% |
| Convertible Bonds | 0.00% | 0.00% | 4.18% | 43.63% |
| Bonds | 0.00% | 0.00% | 79.43% | 46.55% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | EFAX % Rank | |
|---|---|---|---|---|
| Financial Services | 19.28% | 0.00% | 47.75% | 33.91% |
| Healthcare | 14.96% | 0.00% | 20.35% | 15.07% |
| Industrials | 14.81% | 5.17% | 99.49% | 48.82% |
| Consumer Cyclical | 11.43% | 0.00% | 36.36% | 26.53% |
| Consumer Defense | 11.38% | 0.00% | 32.29% | 17.74% |
| Technology | 9.44% | 0.00% | 36.32% | 67.66% |
| Basic Materials | 6.63% | 0.00% | 23.86% | 74.57% |
| Communication Services | 5.83% | 0.00% | 21.69% | 51.65% |
| Real Estate | 3.21% | 0.00% | 14.59% | 16.80% |
| Utilities | 2.74% | 0.00% | 13.68% | 51.65% |
| Energy | 0.30% | 0.00% | 16.89% | 92.94% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | EFAX % Rank | |
|---|---|---|---|---|
| Non US | 98.14% | 0.00% | 99.44% | 6.58% |
| US | 0.74% | 0.00% | 102.01% | 88.36% |
EFAX - Expenses
Operational Fees
| EFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.20% | 0.01% | 19.62% | 91.56% |
| Management Fee | 0.20% | 0.00% | 1.65% | 11.71% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 1.00% | N/A |
Sales Fees
| EFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| EFAX 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.
| EFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 6.00% | 2.00% | 247.00% | 8.10% |
EFAX - Distributions
Dividend Yield Analysis
| EFAX | Category Low | Category High | EFAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.22% | 0.00% | 17.49% | 35.38% |
Dividend Distribution Analysis
| EFAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| EFAX | Category Low | Category High | EFAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.66% | -0.93% | 6.38% | 9.11% |
Capital Gain Distribution Analysis
| EFAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jun 03, 2024 | $0.669 | OrdinaryDividend |
| Dec 15, 2023 | $0.343 | OrdinaryDividend |
| Jun 01, 2023 | $0.714 | OrdinaryDividend |
| Dec 16, 2022 | $0.322 | OrdinaryDividend |
| Jun 01, 2022 | $0.635 | OrdinaryDividend |
| Dec 17, 2021 | $0.530 | OrdinaryDividend |
| Jun 01, 2021 | $0.554 | OrdinaryDividend |
| Dec 18, 2020 | $0.331 | OrdinaryDividend |
| Jun 01, 2020 | $0.328 | OrdinaryDividend |
| Dec 20, 2019 | $0.356 | OrdinaryDividend |
| Jun 03, 2019 | $0.624 | OrdinaryDividend |
| Dec 21, 2018 | $0.343 | OrdinaryDividend |
| Jun 01, 2018 | $0.577 | OrdinaryDividend |
| Dec 15, 2017 | $0.232 | OrdinaryDividend |
| Dec 15, 2017 | $0.123 | CapitalGainShortTerm |
| Sep 15, 2017 | $0.120 | OrdinaryDividend |
| Jun 16, 2017 | $0.467 | OrdinaryDividend |
| Mar 17, 2017 | $0.113 | OrdinaryDividend |
| Dec 16, 2016 | $0.079 | OrdinaryDividend |
EFAX - Fund Manager Analysis
Managers
Michael Feehily
Start Date
Tenure
Tenure Rank
Oct 24, 2016
5.6
5.6%
Mr. Feehily, CFA, is a Managing Director of SSGA and the Adviser and Co-Head of Passive Equity Strategies in North America in the Global Equity Beta Solutions Group. In this capacity, Mr. Feehily has oversight of the North American Passive Equity teams in Boston and Montreal. In addition, Mr. Feehily is a member of the Senior Management Group. Mr. Feehily rejoined SSgA in 2010 after spending the previous four years at State Street Global Markets LLC where he helped to build the Exposure Solutions business.
Karl Schneider
Start Date
Tenure
Tenure Rank
Oct 24, 2016
5.6
5.6%
Karl Schneider, CAIA, is a Vice President of SSGA and SSGA FM, and Head of U.S. Equity Strategies for GEBS, where in addition to overseeing the management of the U.S. equity index strategies, he also serves as a portfolio manager for a number of the group's passive equity portfolios. Previously within GEBS, he served as a portfolio manager and product specialist for synthetic beta strategies, including commodities, buy/write, and hedge fund replication. Prior to joining GEBS, Mr. Schneider worked as a portfolio manager in SSGA's Currency Management Group, managing both active currency selection and traditional passive hedging overlay portfolios. He joined SSGA in 1996. Mr. Schneider holds a BS in finance and investments from Babson College and an MS in finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation. Mr. Schneider is a member of the CAIA Association.
John Law
Start Date
Tenure
Tenure Rank
Jan 31, 2018
4.33
4.3%
John Law, CFA, Vice President and a Senior Portfolio Manager in the Global Equity Beta Solutions Group, has managed the portion of the Fund's assets allocated to SSGA FM for the Fund's Passive International Small Cap Equity Sub-strategy since 2017.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.35 | 6.35 | 3.25 |