State Street ESG Liquid Reserves Pre
Fund
ELRXX
Price as of:
$1.00
- $0.00
- 0.00%
Primary Theme
N/A
fund company
Name
As of 10/25/2022Price
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
0.0%
1 yr return
0.1%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$1.74 B
Holdings in Top 10
100.0%
52 WEEK LOW AND HIGH
$1.0
$1.00
$1.00
Expenses
OPERATING FEES
Expense Ratio 0.12%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$25,000,000
IRA
N/A
Fund Classification
Fund Type
Money Market Fund
Name
As of 10/25/2022Price
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
ELRXX - Profile
Distributions
- YTD Total Return 0.0%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.08%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameState Street ESG Liquid Reserves Fund
-
Fund Family NameState Street Global Advisors
-
Inception DateDec 04, 2019
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerManagement Team
Fund Description
The ESG Liquid Reserves Fund follows a disciplined investment process in which the Adviser bases its decisions on the relative attractiveness of different money market instruments while considering ESG criteria at the time of purchase. Among other things, the Adviser conducts its own credit analyses of potential investments and portfolio holdings, and relies substantially on a dedicated short-term credit research team.
The Fund invests in accordance with regulatory requirements applicable to money market funds, which require, among other things, the Fund to invest only in short-term, high quality debt obligations (generally, securities that have remaining maturities of 397 calendar days or less and that the Fund believes present minimal credit risk), to maintain a maximum dollar-weighted average maturity and dollar-weighted average life of sixty (60) days or less and 120 days or less, respectively, and to meet requirements as to portfolio diversification and liquidity. In the Adviser's opinion, the attractiveness of an instrument may vary depending on, among other things, the general level of interest rates and imbalances of supply and demand in the market.
Although the Fund is a money market fund, the net asset value (“NAV”) of the Fund's Shares “floats,” fluctuating with changes in the values of the Fund's portfolio securities. The Fund typically accepts purchase and redemption orders multiple times per day, and calculates its NAV at each such time.
The Adviser intends to consider ESG criteria at the time of purchase by using an ESG-related metric for each Fund investment. For most Fund investments, the Adviser uses a proprietary scoring system developed by SSGA that assigns an ESG rating, in the form of a “Responsibility” or “R-FactorTM” score, to the issuer. The amount of the Fund's investments assigned an R-FactorTM score will vary from time to time and can change significantly. The R-FactorTM score measures the performance of a company's business operations and governance as related to financially material ESG challenges facing the issuer's industry. The R-FactorTM score for each applicable issuer draws on a number of data sources, including third-party data providers, that provide metrics on a variety of ESG topics.
The R-FactorTM scoring process comprises two underlying components. The first component is based on the framework published by the Sustainability Accounting Standards Board (“SASB”), which is used for all ESG aspects of the score other than those relating to corporate governance issues. The SASB framework attempts to identify ESG risks that are financially material to the issuer based on its industry classification. This component of the R-FactorTM score is determined using only those metrics from the data sources that specifically address ESG risks identified by the SASB framework as being financially material to the issuer based on its industry classification.
The second component of the score is generated using region-specific corporate governance codes developed by investors or regulators. The governance codes describe minimum corporate governance expectations of a particular region and typically address topics such as shareholder rights, board independence and executive compensation. The R-FactorTM scoring process uses data provided by a corporate governance data and analytics provider to assign a governance score to issuers according to these governance codes.
For an issuer that receives an R-FactorTM score, the Fund generally will not take into account the practices or the record of the issuer in respect of ESG factors other than those (i) identified as being financially material to the issuer based on its industry classification under the SASB framework or (ii) applicable to the issuer under local governance codes. Not all criteria are assigned equal weight in constructing an R-FactorTM score.
R-FactorTM scores are not used for investments in U.S. government securities, securities of governments other than the U.S. government, or securities of issuers for which ESG data sufficient to generate an R-FactorTM score is not available. In the case of issuers for which R-FactorTM scores are not used, security selection is based on the Adviser's fundamental security selection process, which may include the application of alternative ESG ratings from a data source to determine whether the issuer of a security meets a particular ESG criteria set by the Adviser.
In making investment decisions, the Adviser will normally consider ESG factors at the time of investment. Once a security is purchased by the Fund, the Adviser will periodically review an issuer's ESG score to determine how it compares to the Fund's ESG criteria and affects the Fund's overall ESG orientation, but the Adviser typically will not sell a security based solely on a change in the Adviser's ESG evaluation of an issuer. When determining whether to sell a security, the Adviser considers, among other things, current and anticipated changes in interest rates, current valuation relative to alternatives in the market, general market conditions and any other factors deemed relevant by the Adviser.
The Adviser will select securities for investment by the Fund based on its consideration of fundamental and technical factors relating to the investment, as well as in some cases seeking to increase R-FactorTM scoring of the overall investment portfolio. The portfolio construction process begins with an analysis of fundamental factors relating to a potential investment, after which the Adviser conducts its ESG analysis, as described above. Final investment decisions are made by the portfolio managers typically on the basis of market conditions as well as technical and ESG considerations with respect to both specific instruments and the overall composition of the portfolio. The Adviser's ESG analysis is an integral component of portfolio construction. An issuer in which the Fund invests may rank higher or lower across ESG factors or in any one factor as compared with other issuers in which the Fund invests or might invest. For example, it is possible that the Adviser might select for investment the securities of an issuer with a lower R-FactorTM score than another on the basis of the relative yield of that issuer's securities. Conversely, it is possible that the Adviser might select for investment the securities of an issuer with a higher R-FactorTM score and lower yield than another to achieve a higher overall R-FactorTM score for the investment portfolio. The Fund does not expect typically to invest in securities of issuers that do not achieve a minimum R-FactorTM threshold score set by the Adviser from time to time (except that certain issuers, as noted above, do not receive R-FactorTM scores). There may be certain investments with desirable investment attributes that the Adviser will not consider for investment by the Fund because they do not meet that threshold, and the Fund might achieve less favorable investment results than a comparable fund that is not so limited.
The Fund attempts to meet its investment objective by investing in a broad range of money market instruments. These may include, among other things: U.S. government securities, including U.S. Treasury bills, notes and bonds and other securities issued or guaranteed as to principal and/or interest, as applicable, by the U.S. government or its agencies or instrumentalities; certificates of deposits and time deposits of U.S. and foreign banks (including European Certificates of Deposit (“ECDs”), European Time Deposits (“ETDs”) and Yankee Certificates of Deposit (“YCDs”)), commercial paper and other high quality obligations of U.S. or foreign companies, including “green” bonds; secured securities such as asset-backed commercial paper; and repurchase agreements. These instruments may bear fixed, variable or floating rates of interest or may be zero-coupon securities. The Fund also may invest in shares of money market funds, including funds advised by the Adviser. Under normal market conditions, the Fund intends to invest more than 25% of its total assets in bank obligations. A substantial portion of the Fund may be invested in securities that are issued or traded pursuant to exemptions from registration under the federal securities laws.
ECDs are U.S. dollar-denominated certificates of deposit issued by a bank outside of the United States. ETDs are U.S. dollar-denominated deposits in foreign branches of U.S. banks and foreign banks. YCDs are U.S. dollar-denominated certificates of deposit issued by U.S. branches of foreign banks. These instruments have different risks than those associated with the obligations of U.S. banks operating in the United States.
The Fund seeks to achieve its investment objective by investing substantially all of its investable assets in the ESG Liquid Reserves Portfolio, a separate series of State Street Master Funds (the “Portfolio”), which has substantially identical investment policies to the Fund. When a 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.
ELRXX - Performance
Return Ranking - Trailing
Period | ELRXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.0% | 0.0% | 0.6% | 48.43% |
1 Yr | 0.1% | -2.0% | 0.4% | 3.57% |
3 Yr | N/A* | -0.2% | 0.9% | N/A |
5 Yr | N/A* | 0.1% | 1.2% | N/A |
10 Yr | N/A* | 0.1% | 0.8% | N/A |
* Annualized
Return Ranking - Calendar
Period | ELRXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.0% | 0.0% | 0.0% | 48.74% |
2022 | 0.0% | 0.0% | 0.4% | 50.00% |
2021 | N/A | 0.0% | 2.0% | N/A |
2020 | N/A | 0.0% | 1.5% | N/A |
2019 | N/A | 0.0% | 0.5% | N/A |
Total Return Ranking - Trailing
Period | ELRXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.0% | 0.0% | 0.6% | 48.43% |
1 Yr | 0.1% | -5.7% | 0.4% | 3.39% |
3 Yr | N/A* | -1.9% | 0.9% | N/A |
5 Yr | N/A* | -1.0% | 1.2% | N/A |
10 Yr | N/A* | -0.5% | 0.8% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | ELRXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.0% | 0.0% | 0.0% | 48.74% |
2022 | 0.0% | 0.0% | 0.4% | 50.00% |
2021 | N/A | 0.0% | 2.0% | N/A |
2020 | N/A | 0.0% | 1.5% | N/A |
2019 | N/A | 0.0% | 0.5% | N/A |
NAV & Total Return History
ELRXX - Holdings
Concentration Analysis
ELRXX | Category Low | Category High | ELRXX % Rank | |
---|---|---|---|---|
Net Assets | 1.74 B | 136 K | 281 B | 73.58% |
Number of Holdings | 1 | 1 | 346 | 96.03% |
Net Assets in Top 10 | 1.74 B | -343 K | 163 B | 69.83% |
Weighting of Top 10 | 100.00% | 22.7% | 100.0% | 4.23% |
Top 10 Holdings
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
- State Street Esg Liquid Reserves Fund 100.00%
Asset Allocation
Weighting | Return Low | Return High | ELRXX % Rank | |
---|---|---|---|---|
Cash | 100.00% | 25.56% | 100.00% | 4.83% |
Stocks | 0.00% | 0.00% | 0.00% | 50.17% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 50.17% |
Other | 0.00% | -1.67% | 0.04% | 50.86% |
Convertible Bonds | 0.00% | 0.00% | 21.22% | 57.24% |
Bonds | 0.00% | 0.00% | 74.44% | 95.00% |
ELRXX - Expenses
Operational Fees
ELRXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.12% | 0.01% | 1.58% | 93.76% |
Management Fee | 0.05% | 0.00% | 0.50% | 5.00% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 15.26% |
Administrative Fee | 0.05% | 0.01% | 0.55% | 28.28% |
Sales Fees
ELRXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 5.75% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
ELRXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 5.00% | 5.00% | 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.
ELRXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 485.00% | N/A |
ELRXX - Distributions
Dividend Yield Analysis
ELRXX | Category Low | Category High | ELRXX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 4.35% | 47.50% |
Dividend Distribution Analysis
ELRXX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
ELRXX | Category Low | Category High | ELRXX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.08% | -1.09% | 1.67% | 3.73% |
Capital Gain Distribution Analysis
ELRXX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 31, 2021 | $0.000 | OrdinaryDividend |
Nov 30, 2021 | $0.000 | OrdinaryDividend |
Oct 29, 2021 | $0.000 | OrdinaryDividend |
Sep 30, 2021 | $0.000 | OrdinaryDividend |
Aug 31, 2021 | $0.000 | OrdinaryDividend |
Jul 30, 2021 | $0.000 | OrdinaryDividend |
Jun 30, 2021 | $0.000 | OrdinaryDividend |
May 31, 2021 | $0.000 | OrdinaryDividend |
Apr 30, 2021 | $0.000 | OrdinaryDividend |
Mar 31, 2021 | $0.000 | OrdinaryDividend |
Feb 26, 2021 | $0.000 | OrdinaryDividend |
Jan 29, 2021 | $0.000 | OrdinaryDividend |
Dec 31, 2020 | $0.000 | OrdinaryDividend |
Dec 01, 2020 | $0.000 | OrdinaryDividend |
Nov 02, 2020 | $0.000 | OrdinaryDividend |
Oct 01, 2020 | $0.000 | OrdinaryDividend |
Sep 01, 2020 | $0.000 | OrdinaryDividend |
Aug 03, 2020 | $0.000 | OrdinaryDividend |
Jul 01, 2020 | $0.000 | OrdinaryDividend |
Jun 01, 2020 | $0.000 | OrdinaryDividend |
May 01, 2020 | $0.001 | OrdinaryDividend |
Apr 01, 2020 | $0.001 | OrdinaryDividend |
Mar 02, 2020 | $0.001 | OrdinaryDividend |
Feb 03, 2020 | $0.002 | OrdinaryDividend |