Home   »   ETFs :  SPDR® EURO STOXX 50® Currency Hedged ETF (HFEZ)
HFEZ

SPDR® EURO STOXX 50® Currency Hedged ETF

Fund Objective

The SPDR® EURO STOXX 50® Currency Hedged ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the EURO STOXX 50® Hedged USD Index.

Ordinary brokerage commissions may apply.

Fund Information

As of   01/19/2017
Ticker Symbol HFEZ
Primary Benchmark EURO STOXX 50 Hedged USD Index
CUSIP 78463X186
Options Available No
Gross Expense Ratio

The gross expense ratio is 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.

0.62%
Net Expense Ratio

^SSGA Funds Management, Inc. (the “Adviser”) has contractually agreed to waive its advisory fee and/or reimburse certain expenses in an amount equal to the acquired fund fees and expenses attributable to the Fund’s investments in the SPDR EURO STOXX 50 ETF, until January 31, 2017. The contractual fee waiver and/or reimbursement 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 after January 31, 2017, the waiver may be cancelled or modified at any time. The waiver and/or reimbursement may not be terminated during the relevant period expect with the approval of the Fund’s Board of Trustees.

0.32%
Inception Date 06/09/2015
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions & Global Fixed Income, Cash and Currency
Distributor State Street Global Markets, LLC
Distribution Frequency Quarterly
Exchange NYSE ARCA EXCHANGE

Fund Characteristics

As of   01/18/2017
Est. 3-5 Year EPS Growth

The 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.

10.75%
Number of Holdings 54
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.

1.60
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

Closing price divided by the sum of the forecasted fiscal year earnings per share.

15.18
Weighted Average Market Cap $71,937.30 M

Yields

As of   01/17/2017
30 Day SEC Yield

30 Day SEC Yield (Standardized Yield) 

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price.

3.23%
30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized Yield)

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price that does not take into account expense ratio subsidizations.

2.94%
Fund Dividend Yield

Fund Dividend Yield is the sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

2.27%
Index Dividend Yield

Index Dividend Yield is the weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.

3.53%

Index Characteristics

As of   01/18/2017
Est. 3-5 Year EPS Growth 10.75%
Number of Holdings 50
Price/Cash Flow 6.53
Price/Earnings 16.45
Price/Earnings Ratio FY1 15.18
Return On Equity 11.59%

Fund Documents

Fund Market Price

As of   01/18/2017
Bid/Ask $36.14
Closing Price $35.89
Day High $35.89
Day Low $35.89
Exchange Volume (shares) 700
Premium/Discount

Premium/Discount to NAV

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)

0.59%
Premium Discount to Nav Chart

Fund Net Asset Value

NAV

Market value of a mutual fund's and ETF's total assets, minus liabilities, divided by the number of shares outstanding

As of   01/18/2017
NAV $35.92
Shares Outstanding 550,000
Total Net Assets $19.76 M
Most Recent NAV / NAV History XLS

Fund Net Cash Amount

As of   01/18/2017
Net Cash Amount -$163,840.93

Index Statistics

As of   01/18/2017
Weighted Average Market Cap $59,387.52 M
Average Size
Mean $46,689.73 M
Median $37,596.62 M
Size Range
Largest $116,248.66 M
Smallest $15,729.44 M

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 apply.

Performance Graphs

Month End as of 12/31/2016

Fund Inception Date: 06/08/2015

Index Inception Date: 03/01/2012

<performance fundName="SPDR&lt;sup&gt;®&lt;/sup&gt; EURO STOXX 50&lt;sup&gt;®&lt;/sup&gt; Currency Hedged ETF" bmarkName="EURO STOXX 50 Hedged USD Index"><funds><field>1 Month</field><fund>7.70</fund><index>8.03</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>9.48</fund><index>10.31</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>5.03</fund><index>5.09</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>5.03</fund><index>5.09</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund></fund><index>4.99</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>-0.49</fund><index>-0.18</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Holdings Exposure

Subject to change.

Subject to change.

As of   01/18/2017
Name Ticker Weight
SPDR EURO STOXX 50 ETF FEZ 99.97 %
Download All Holdings XLS
VIEW THE UNDERLYING HOLDINGS

Index Holdings Exposure

As of 01/18/2017
Name Weight
Total SA 5.49 %
Siemens AG 4.48 %
Sanofi 4.04 %
Bayer AG 3.80 %
SAP SE 3.72 %
BASF SE 3.68 %
Banco Santander S.A. 3.32 %
Allianz SE 3.29 %
Anheuser-Busch InBev SA/NV 3.22 %
Daimler AG 3.17 %

Fund Sector Exposure

As of  01/18/2017
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>01/18/2017</asOfDate><overrideLabel>Fund Sector Exposure</overrideLabel><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>21.48</rawValue><value>21.48%</value><label>Financials</label><order>1</order></attribute><attribute><rawValue>14.25</rawValue><value>14.25%</value><label>Industrials</label><order>2</order></attribute><attribute><rawValue>11.53</rawValue><value>11.53%</value><label>Consumer Discretionary</label><order>3</order></attribute><attribute><rawValue>10.59</rawValue><value>10.59%</value><label>Consumer Staples</label><order>4</order></attribute><attribute><rawValue>10.28</rawValue><value>10.28%</value><label>Health Care</label><order>5</order></attribute><attribute><rawValue>7.26</rawValue><value>7.26%</value><label>Energy</label><order>6</order></attribute><attribute><rawValue>6.79</rawValue><value>6.79%</value><label>Information Technology</label><order>7</order></attribute><attribute><rawValue>6.68</rawValue><value>6.68%</value><label>Materials</label><order>8</order></attribute><attribute><rawValue>5.46</rawValue><value>5.46%</value><label>Telecommunication Services</label><order>9</order></attribute><attribute><rawValue>4.56</rawValue><value>4.56%</value><label>Utilities</label><order>10</order></attribute><attribute><rawValue>0.97</rawValue><value>0.97%</value><label>Real Estate</label><order>11</order></attribute><attribute><rawValue>0.01</rawValue><value>0.01%</value><label>Unassigned</label><order>12</order></attribute></attributes></component>

Index Sector Exposure

As of  01/18/2017
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>01/18/2017</asOfDate><overrideLabel>Index Sector Exposure</overrideLabel><code>BMARK_SECTOR_ALLOCTAION</code><attributes><attribute><rawValue>21.52</rawValue><value>21.52%</value><label>Financials</label><order>1</order></attribute><attribute><rawValue>14.27</rawValue><value>14.27%</value><label>Industrials</label><order>2</order></attribute><attribute><rawValue>11.55</rawValue><value>11.55%</value><label>Consumer Discretionary</label><order>3</order></attribute><attribute><rawValue>10.61</rawValue><value>10.61%</value><label>Consumer Staples</label><order>4</order></attribute><attribute><rawValue>10.31</rawValue><value>10.31%</value><label>Health Care</label><order>5</order></attribute><attribute><rawValue>7.28</rawValue><value>7.28%</value><label>Energy</label><order>6</order></attribute><attribute><rawValue>6.8</rawValue><value>6.80%</value><label>Information Technology</label><order>7</order></attribute><attribute><rawValue>6.69</rawValue><value>6.69%</value><label>Materials</label><order>8</order></attribute><attribute><rawValue>5.47</rawValue><value>5.47%</value><label>Telecommunication Services</label><order>9</order></attribute><attribute><rawValue>4.53</rawValue><value>4.53%</value><label>Utilities</label><order>10</order></attribute><attribute><rawValue>0.97</rawValue><value>0.97%</value><label>Real Estate</label><order>11</order></attribute></attributes></component>

Fund Country Exposure

As of  01/18/2017
France 36.25%
Germany 33.93%
Spain 9.97%
Netherlands 9.31%
Italy 4.79%
Belgium 3.22%
Ireland 1.21%
Finland 1.16%
Unassigned 0.01%

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.

Unless otherwise noted all information contained herein is that of the SPDR® EURO STOXX 50® Currency Hedged 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.

Global Equity Beta Solutions

Co-Head, Global Equity Beta Solutions Michael J. Feehily Senior Managing Director Show Bio

Mike is a Senior Managing Director and the Head of Global Equity Beta Solutions in the Americas. He is also a member of the Senior Leadership Team, is the Chairperson for the firm's Trade Management Oversight Committee, and is a voting member on the North America Product Committee.

Mike rejoined SSGA in 2010 after spending four years in State Street Global Markets where he helped to build the Global Exposure Solutions business. This group created and managed portfolios that were designed to meet the short-term market exposure needs of our institutional clients. Prior to this Mike had been Head of the US Passive Equity Team within SSGA, which he originally joined in 1997. He began his career at State Street within the Global Services division in 1992.

Mike received a Bachelor of Science Degree from Babson College in Finance, Investments, and Economics. He received an MBA in Finance from Bentley College and also earned the Chartered Financial Analyst designation. He is a member of the CFA Institute and the Boston Security Analysts Society. Mike is also a former member of the Russell Index Client Advisory Board.

Portfolio Manager Karl A. Schneider Vice President Show Bio

Karl Schneider, CAIA, is a Vice President of SSGA and Deputy Head of Global Equity Beta Solutions (GEBS) in the Americas. He also serves as a senior 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 US equity strategies and synthetic beta strategies, including commodities, buy/write, and hedge fund replication. He is also a member of the S&P Dow Jones US Equities Index Advisory Panel.

Prior to joining the GEBS team, 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 1997.

Mr. Schneider holds a BS in Finance and Investments from Babson College and also an MS in Finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation and is a member of the CAIA Association.

Senior Portfolio Manager Mark Abbott Vice President Show Bio

Mark is a Vice President of State Street Global Advisors and Senior Portfolio Manager in the Currency Management Group. The group is responsible for portfolio management, research and product development for passive, dynamic and active strategies.

Mark has been directly involved in the currency markets since 1995. Before joining the firm in 2007, Mark was responsible for managing currency risk at large international banks as an inter-bank dealer and proprietary trader with a focus on developed market currencies. Mark was also involved in promoting the banks' services to institutional and corporate clients.

Mark holds a BComm (Honors) in Business Administration from the University of Windsor.

Portfolio Manager Mark G. Krivitsky Vice President Show Bio

Mark is a Vice President and Senior Portfolio Manager in the Global Equity Beta Solutions team and Tax-Efficient Market Capture team at State Street Global Advisors. He is responsible for managing both U.S. and International Index funds and taxable institutional accounts. His previous experience at SSGA includes affiliaton with the the firm's U.S. Structured Products Operations Group. Mark began his tenure at State Street in the Mutual Funds Division in 1992. He has been working in the investment management field since 1991.

Mark completed his undergraduate degree with a BA in Humanities/Social Sciences from the University of Massachusetts and earned a Master's degree in Business Administration with a specialization in Finance from the Sawyer School of Management at Suffolk University.

After Tax Returns

After-tax returns are calculated 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, and the after-tax returns shown are not relevant to investors who hold their fund shres through tad deferred arrangements such as 401(k) plans or individual retiredment accounts. After tax returns may not take into account year end tax adjustments, which are calculated only at the end of each tax year. The after tax returns could differ after year end tax adjustments are accounted for.

EURO STOXX 50 Hedged USD Index

The EURO STOXX 50® Hedged USD Index is a market capitalization weighted index designed to represent the performance of the largest companies across components of the 19 EURO STOXX Supersector Indexes, with the currency risk of the component securities hedged against the US dollar on a monthly basis. The EURO STOXX Supersector Indexes are subsets of the EURO STOXX Index. The EURO STOXX Index is a broad yet liquid subset of the STOXX Europe 600 Index, which covers the 600 largest companies in Europe. The Index captures approximately 60% of the free-float market capitalization of the EURO STOXX Total Market Index, which in turn covers approximately 95% of the free float market capitalization of the represented countries.

Important Risk Information

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.

Derivative investments may involve risks such as potential illiquidity of the markets and additional risk of loss of principal.

Hedging involves taking offsetting positions intended to reduce the volatility of an asset. If the hedging position behaves differently than expected, the volatility of the strategy as a whole may increase and even exceed the volatility of the asset being hedged.

Currency Risk is a form of risk that arises from the change in price of one currency against another. Whenever investors or companies have assets or business operations across national borders, they face currency risk if their positions are not hedged.

In addition to normal risks associated with equity investing, international investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, and from adverse political, social and economic instability in other nations.

Companies with large market capitalizations go in and out of favor based on market and economic conditions. Larger companies tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the value of the security may not rise as much as companies with smaller market capitalizations.

Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.

Passively managed funds invest by sampling the index, holding a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.

While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

Before investing, consider the fund's 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.

Premium Discount to NAV

As of  01/18/2017
Ticker NAV Close Bid/Ask Mid Pt Premium/ Discount
SPDR® EURO STOXX 50® Currency Hedged ETF HFEZ $35.92 $35.89 $36.14 0.59%
Download Fund Data

x axis: # of days y axis: # Premium/Discount percentage

The above information is provided to show the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds.

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.