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SPDR® S&P® International Health Care Sector ETF

Fund Objective

The SPDR® S&P® International Health Care Sector ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P® Developed Ex-U.S. BMI Health Care Sector Index.

Ordinary brokerage commissions may apply.

Fund Information

As of   01/19/2017
Ticker Symbol IRY
Primary Benchmark S&P Developed Ex-U.S. BMI Health Care Sector Index
CUSIP 78463X681
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.

Inception Date 07/16/2008
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor State Street Global Markets, LLC
Distribution Frequency Quarterly

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.

Number of Holdings 150
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.

Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

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

Weighted Average Market Cap $70,726.90 M


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.

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.

Index Dividend Yield

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


Index Characteristics

As of   01/18/2017
Est. 3-5 Year EPS Growth 8.81%
Number of Holdings 467
Price/Cash Flow 12.49
Price/Earnings 20.38
Price/Earnings Ratio FY1 17.26
Return On Equity 21.67%

Fund Documents

Fund Market Price

As of   01/18/2017
Bid/Ask $43.99
Closing Price $44.06
Day High $44.10
Day Low $43.96
Exchange Volume (shares)

The Exchange Volume represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.


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)

Premium Discount to Nav Chart

Fund Net Asset Value


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 $44.21
Shares Outstanding 1.10 M
Total Net Assets $48.64 M
Most Recent NAV / NAV History XLS

Fund Net Cash Amount

As of   01/18/2017
Net Cash Amount $300,129.92

Index Statistics

As of   01/18/2017
Weighted Average Market Cap $66,155.87 M
Average Size
Mean $3,817.24 M
Median $352.01 M
Size Range
Largest $203,052.34 M
Smallest $0.24 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: 07/16/2008

Index Inception Date: 07/16/2008

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Fund Top Holdings

Subject to change.

As of   01/18/2017
Name Weight Shares Held
Novartis AG 11.61 % 81,471
Roche Holding Ltd Genusssch. 9.67 % 20,802
Sanofi 5.93 % 36,686
GlaxoSmithKline plc 5.69 % 149,277
Bayer AG 5.59 % 25,903
AstraZeneca PLC 4.36 % 38,998
Novo Nordisk A/S Class B 4.12 % 57,912
Shire PLC 3.15 % 28,655
Teva Pharmaceutical Industries Limited 2.17 % 32,490
CSL Limited 2.14 % 14,435
Download All Holdings XLS

Index Top Holdings

As of 01/18/2017
Name Weight
Novartis AG 11.64 %
Roche Holding Ltd Genusssch. 10.16 %
Sanofi 5.90 %
GlaxoSmithKline plc 5.81 %
Bayer AG 5.55 %
AstraZeneca PLC 4.36 %
Novo Nordisk A/S Class B 4.10 %
Shire PLC 3.09 %
CSL Limited 2.10 %
Teva Pharmaceutical Industries Limited 2.10 %

Fund Industry Allocation

As of  01/18/2017
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>01/18/2017</asOfDate><overrideLabel>Fund Industry Allocation</overrideLabel><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>65.18</rawValue><value>65.18%</value><label>Pharmaceuticals</label><order>1</order></attribute><attribute><rawValue>10.74</rawValue><value>10.74%</value><label>Biotechnology</label><order>2</order></attribute><attribute><rawValue>9.96</rawValue><value>9.96%</value><label>Health Care Equipment &amp; Supplies</label><order>3</order></attribute><attribute><rawValue>7.24</rawValue><value>7.24%</value><label>Health Care Providers &amp; Services</label><order>4</order></attribute><attribute><rawValue>3.45</rawValue><value>3.45%</value><label>Unassigned</label><order>5</order></attribute><attribute><rawValue>2.6</rawValue><value>2.60%</value><label>Life Sciences Tools &amp; Services</label><order>6</order></attribute><attribute><rawValue>0.34</rawValue><value>0.34%</value><label>Health Care Technology</label><order>7</order></attribute><attribute><rawValue>0.12</rawValue><value>0.12%</value><label>Chemicals</label><order>8</order></attribute></attributes></component>

Index Industry Allocation

As of  01/18/2017
<?xml version="1.0" encoding="UTF-8"?><component><asOfDate>01/18/2017</asOfDate><overrideLabel>Index Industry Allocation</overrideLabel><code>BMARK_SECTOR_ALLOCTAION</code><attributes><attribute><rawValue>65.1</rawValue><value>65.10%</value><label>Pharmaceuticals</label><order>1</order></attribute><attribute><rawValue>10.68</rawValue><value>10.68%</value><label>Biotechnology</label><order>2</order></attribute><attribute><rawValue>10.3</rawValue><value>10.30%</value><label>Health Care Equipment &amp; Supplies</label><order>3</order></attribute><attribute><rawValue>7.09</rawValue><value>7.09%</value><label>Health Care Providers &amp; Services</label><order>4</order></attribute><attribute><rawValue>3.88</rawValue><value>3.88%</value><label>Unassigned</label><order>5</order></attribute><attribute><rawValue>2.39</rawValue><value>2.39%</value><label>Life Sciences Tools &amp; Services</label><order>6</order></attribute><attribute><rawValue>0.57</rawValue><value>0.57%</value><label>Health Care Technology</label><order>7</order></attribute></attributes></component>

Fund Country Weights

As of  01/18/2017
Switzerland 25.66%
Japan 18.03%
United Kingdom 15.44%
Germany 11.12%
France 9.18%
Denmark 6.18%
Australia 4.22%
South Korea 2.42%
Israel 2.31%
Belgium 0.85%
Spain 0.76%
Sweden 0.68%
New Zealand 0.60%
Canada 0.51%
Finland 0.48%
Ireland 0.36%
Singapore 0.31%
Italy 0.22%
Hong Kong 0.17%
China 0.07%
Unassigned 0.06%

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.

The historical values for this index were calculated based on the current S&P Global BMI Equity methodology, the parent index of the S&P Developed Ex-U.S. BMI Sector Capped Indices, using historical component-level data. The historical values were designed to reflect the performance of what would have been the actual components of the Index at the time. Securities meeting the required criteria for inclusion according to the methodology were included; no discretion was employed in the selection outside of applying the criteria. To create the history for the S&P Developed Ex-U.S. BMI Sector Capped Index the following methodology was used:

Index Eligibility: To be eligible for the S&P Developed Ex-U.S. BMI Sector Capped index, companies must first be constituents of the S&P Global BMI Equity index.Eligibility Factors:Market Capitalization. Stocks must have a float-adjusted market capitalization above US$100 million.Liquidity. Stocks must have 12-month average total daily value traded above US$50 million.Domicile . All constituents are members of the developed markets, as defined by the S&PGlobal BMI Equity methodology excluding the United States.Sector Classification. Stocks are classified by the Global Industry Classification Standard (GICS®) - a four-tiered industry classification structure. The indices provide geographic and economic balance across the 10 GICS Sectors. These Sectors, consistent across all Standard & Poor ' s indices, are Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Telecommunication Services, and Utilities.

Timing of Changes. The index is reviewed quarterly to adjust the index weights if necessary. Quarterly rebalancings will take place on the third Friday of each March, June and December. The September rebalancing will be on September 30 to coincide with the annual reconstitution of the index, effective for October 1. The cut-off date for the data used in the annual reconstitution is the last business day of the prior July. New constituents and index weights will be made available to clients with a five-day notice.Additions. Companies may be added between rebalancings periods due to sector re- classifications, listing of eligible IPOs, and eligible spin-offs.Deletions. Between rebalancings, a company can be deleted from one the ten S&P Developed Ex-U.S. BMI Sector Capped Indices due to corporate events such as mergers, acquisitions, takeovers, delistings, or sector reclassification.

Index Construction: 1. All constituents of the S&P Developed Ex-U.S. BMI Sector Capped index must first be constituents of the S&P Global BMI Equity index. These constituents already meet the size and liquidity criteria. This becomes the initial selection universe. 2. All securities of the United States and constituents of emerging markets, as defined by the S&P Global BMI Equity methodology are removed from the list. 3. Companies are then sorted by sector classification and by float market cap within each sector. 4. The remaining stocks are sorted in decreasing order of their float-adjusted market capitalization within each of its corresponding sector. Each sector then becomes an individual index.5. Index weights are calculated for each of the constituents in each of the sectors. In each of the sector indices, no stock can exceeds 20% of the index; stocks that exceed 5% of the index market cap weight, in aggregate, should not exceed 45% of the index. In order to maintain these thresholds, the market capitalization may be modified to comply with these guidelines. Please note that back-tested performance does not represent actual performance and should not be interpreted as an indication of actual performance. Back-tested index performance is for informational purposes only. Index performance returns do not reflect management fees, transaction costs or expenses that may be associated with a fund that seeks to replicate the performance of an index. Indexes are unmanaged and one cannot invest directly in an index.

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.

Unless otherwise noted all information contained herein is that of the SPDR S&P International Health Care Sector ETF.

S&P - In net total return indices, the dividends are reinvested after the deduction of withholding tax. Tax rates are applied at the country level or at the index level.

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 David Chin Vice President Show Bio

David is a Vice President and Senior Portfolio Manager in the Global Equity Beta Solutions team at State Street Global Advisors. He is responsible for managing both U.S. and International funds. Prior to joining SSGA in 1999, David was a product analyst in the Analytical Services Group at Frank Russell Company. Before this, he worked at OneSource Information Systems developing investment software. Preceding this, he was affiliated with PanAgora Asset Management in the Research and Development group creating quantitative investment models for international equities. David has been working in the investment management field since 1992.

David holds a BS in Management Information Systems from the University of Massachusetts/Boston and an MBA from the University of Arizona.

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.

S&P Developed Ex-U.S. BMI Health Care Sector Index

The S&P® Developed Ex-U.S. BMI Health Care Sector Index represents the non-U.S. health care sub-industry of developed countries included in the S&P Broad Market Index (the "Global BMI Index"). The Global BMI Index captures the full universe of institutionally investable stocks in developed and emerging markets with float-adjusted market capitalizations of at least $100 million.

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.

Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets. Investments in smaller companies may involve greater risks than those in larger, better known companies.

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

The Fund invests 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 which may cause the fund to experience tracking errors relative to performance of the Index.

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 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.

Premium Discount to NAV

As of  01/18/2017
Ticker NAV Close Bid/Ask Mid Pt Premium/ Discount
SPDR® S&P® International Health Care Sector ETF IRY $44.21 $44.06 $43.99 -0.51%
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.