Investment objective & strategy
As of Oct. 24, 2025 · prospectusObjective. The State Street Multi-Asset Real Return ETF (the Fund) seeks to achieve real return consisting of capital appreciation and current income.
Strategy. Under normal circumstances, SSGA Funds Management, Inc. (the Adviser or SSGA FM) invests at least 80% of the net assets of the Fund among exchange traded products (ETPs) that provide exposure to the following primary asset classes: (i) inflation protected securities issued by the United States government, its agencies and/or instrumentalities, as well as inflation protected securities issued by foreign governments, agencies, and/or instrumentalities; (ii) domestic and international real estate securities; (iii) commodities; (iv) publicly-traded domestic and international infrastructure companies; and (v) publicly-traded domestic and international companies in natural resources and/or commodities businesses. Publicly-traded companies in infrastructure businesses may include energy, industrial, and utility companies. Publicly-traded companies in natural resources and/or commodities businesses may include agriculture, energy, and metals and … Under normal circumstances, SSGA Funds Management, Inc. (the Adviser or SSGA FM) invests at least 80% of the net assets of the Fund among exchange traded products (ETPs) that provide exposure to the following primary asset classes: (i) inflation protected securities issued by the United States government, its agencies and/or instrumentalities, as well as inflation protected securities issued by foreign governments, agencies, and/or instrumentalities; (ii) domestic and international real estate securities; (iii) commodities; (iv) publicly-traded domestic and international infrastructure companies; and (v) publicly-traded domestic and international companies in natural resources and/or commodities businesses. Publicly-traded companies in infrastructure businesses may include energy, industrial, and utility companies. Publicly-traded companies in natural resources and/or commodities businesses may include agriculture, energy, and metals and mining companies. The Fund's allocation among these asset classes will be in proportions consistent with the Adviser's evaluation of the expected returns and risks of each asset class as well as the allocation that, in the Adviser's view, will best meet the Fund's investment objective. The Adviser's investment process relies on proprietary quantitative models as well as the Adviser's fundamental views regarding qualitative factors that may not be captured by the quantitative models. The allocations to each asset class will change over time as the Adviser's expectations of each asset class shift. The Fund's indirect holdings by virtue of investing in ETPs representing those asset classes will consist of a diversified mix of domestic and international equity securities, including emerging markets, government bonds, inflation protected securities, commodities and real estate investment trusts (REITs). The Fund may invest in ETPs that gain exposure to commodities through the use of derivatives. The Adviser considers real return to be a rate of return above the rate of inflation over a market cycle. ETPs in which the Fund invests include exchange-traded funds registered under the Investment Company Act of 1940, as amended (the 1940 Act) (Underlying ETFs), exchange traded commodity trusts; and exchange traded notes (ETNs). The Fund may invest in ETPs that are qualified publicly traded partnerships (QPTPs). In addition, the Fund ? may invest in certain ETPs that pay fees to the Adviser and its affiliates for management, marketing or other services. In addition, the Fund may invest in cash and cash equivalents or money market instruments, such as money market funds (including money market funds advised by the Adviser).
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| State Street SPDR S&P Global Infrastructure ETF | GII | $253.64M | 25.42% |
| State Street SPDR S&P Global Natural Resources ETF | GNR | $253.18M | 25.38% |
| SPDR Bloomberg Enhanced Roll Yield Commodity Strategy NO K-1 ETF | CERY | $245.23M | 24.58% |
| State Street SPDR Bloomberg 1-10 Year TIPS ETF | — | $56.58M | 5.67% |
| STATE STREET ENERGY SELECT SECTOR SPDR ETF MUTUAL FUND | XLE | $52.76M | 5.29% |
| State Street SPDR S&P Metals & Mining ETF | XME | $30.32M | 3.04% |
| SPDR FTSE International Government Inflation-Protected Bond ETF | WIP | $28.97M | 2.90% |
| State Street SPDR Dow Jones REIT ETF | — | $23.43M | 2.35% |
| STATE STREET SPDR BLOOMBERG 1-3 MONTH T-BILL ETF MUTUAL FUND | BIL | $23.39M | 2.34% |
| VanEck Agribusiness ETF | — | $22.77M | 2.28% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Hedgeye Fourth Turning ETF | 21% | — |
| State Street(R)Income Allocation ETF · INKM | 13% | 0.50% |
| State Street(R) Global Allocation ETF · GAL | 12% | 0.35% |
Advisers
| Firm | Role |
|---|---|
| SSGA Funds Management, Inc. | Adviser |
Footnotes
- Expense ratio as of October 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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