SPDR® Solactive Canada ETF
Key Features
- The SPDR® Solactive Canada ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Solactive GBS Canada Large & Mid Cap USD Index NTR (the "Index")
- Seeks to track a free float market cap weighted index with coverage targets of 85% of free float market cap coverage with an 80-90% buffer
- Designed to offer broad based exposure to the equity market of Canada including Common stock, preferred stock, REITs, Stapled Security, ADRs and other comparable DRs, Tracking Stock, Royalty Trust, Units
Fund Information
| Ticker Symbol | ZCAN | |
| Primary Benchmark | Solactive GBS Canada Large & Mid Cap USD Index NTR | |
| CUSIP | 78463X376 | |
| Options Available | No | |
| Gross Expense Ratio | 0.20% | |
| Net Expense Ratio |
^SSGA Funds Management, Inc. (the "Adviser") has contractually agreed to waive a portion of its management fee and/or reimburse certain expenses, until January 31, 2020, so that the net annual Fund operating expenses of the Fund, before application of any fees and expenses not paid by the Adviser pursuant to the Investment Advisory Agreement, if any, are limited to 0.14% of the Fund's average daily net assets. 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 the waiver and/or reimbursement may be cancelled or modified at any time after January 31, 2020. The waiver and/or reimbursement may not be terminated prior to January 31, 2020 except with the approval of the Fund's Board of Trustees. |
0.14% |
| Inception Date | 06/11/2014 | |
| Investment Manager | SSGA Funds Management, Inc. | |
| Management Team | Global Equity Beta Solutions | |
| Distributor | State Street Global Advisors Funds Distributors, LLC | |
| Distribution Frequency | Semi-Annually | |
| Exchange | NYSE ARCA EXCHANGE |
Fund Characteristics
| Est. 3-5 Year EPS Growth | 8.48% | |
| Number of Holdings | 90 | |
| Price/Book Ratio | 1.86 | |
| Price/Earnings Ratio FY1 | 14.97 | |
| Weighted Average Market Cap | $44,070.20 M |
Yields
| 30 Day SEC Yield | 2.63% | |
| Fund Dividend Yield | 2.55% | |
| Index Dividend Yield | 3.11% |
Index Characteristics
| Est. 3-5 Year EPS Growth | 8.48% | |
| Number of Holdings | 90 | |
| Price/Cash Flow | 8.35 | |
| Price/Earnings | 15.17 | |
| Price/Earnings Ratio FY1 | 14.97 |
Fund Documents
Fund Performance
| MONTH END As of 11/30/2019 | QUARTER END As of 09/30/2019 | |
|---|---|---|
| 1 Month | 2.36% | 2.25% |
| QTD | 2.08% | 0.78% |
| YTD | 24.76% | 22.22% |
| 1 Year | 14.62% | 4.61% |
| 3 Year | 7.56% | 7.06% |
| 5 Year | 3.23% | 2.60% |
| 10 Year | N/A | N/A |
| Inception | 2.71% | 2.40% |
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.
The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Prior to 9/18/2018, the Fund sought to track the MSCI Canada Factor Mix A-Series Capped Index. Effective 9/18/2018, the Fund seeks to track the Solactive GBS Canada Large & Mid Cap USD Index NTR. The inception of the Solactive GBS Canada Large & Mid Cap USD Index NTR was 7/24/2018. Performance of the Fund shown in the table prior to 9/18/2018 is therefore based on the Fund's investment strategy to track an index different from the Solactive GBS Canada Large & Mid Cap USD Index NTR.
Fund Characteristics
| Est. 3-5 Year EPS Growth | 8.48% | |
| Number of Holdings | 90 | |
| Price/Book Ratio | 1.86 | |
| Price/Earnings Ratio FY1 | 14.97 | |
| Weighted Average Market Cap | $44,070.20 M |
Fund Market Price
| Bid/Ask | $61.40 | |
| Closing Price | $61.39 | |
| Day High | $61.61 | |
| Day Low | $61.39 | |
| Exchange Volume (shares) | 1 | |
| Premium/Discount | 0.21% |
Yields
| 30 Day SEC Yield | 2.63% | |
| Fund Dividend Yield | 2.55% | |
| Index Dividend Yield | 3.11% |
Fund Net Asset Value
| NAV | $61.26 | |
| Shares Outstanding | 375,000 | |
| Total Net Assets | $22.97 M |
Index Characteristics
| Est. 3-5 Year EPS Growth | 8.48% | |
| Number of Holdings | 90 | |
| Price/Cash Flow | 8.35 | |
| Price/Earnings | 15.17 | |
| Price/Earnings Ratio FY1 | 14.97 |
Fund Net Cash Amount
| Net Cash Amount | $28,692.71 |
Index Statistics
| Weighted Average Market Cap | $41,646.55 M | |
| Average Size | ||
|---|---|---|
| Mean | N/A | |
| Median | N/A | |
| Size Range | ||
| Largest | N/A | |
| Smallest | N/A |
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 Chart
| Fund Before Tax Fund After Tax | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Annualized | |||||||||
| As of | 1 Month | QTD | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception 06/11/2014 |
|
| Month End | |||||||||
| NAV | 11/30/2019 | 2.36% | 2.08% | 24.76% | 14.62% | 7.56% | 3.23% | N/A | 2.71% |
| Market Value | 11/30/2019 | 2.76% | 2.34% | 25.20% | 15.13% | 7.62% | 3.28% | N/A | 2.77% |
| Return after Taxes on Distributions | 11/30/2019 | 2.36% | 2.08% | 24.24% | 13.93% | 7.14% | 2.76% | N/A | 2.29% |
| Return after Taxes on Distributions and Sale of Fund Shares | 11/30/2019 | 1.39% | 1.23% | 14.64% | 9.15% | 5.94% | 2.53% | N/A | 2.13% |
| Solactive GBS Canada Large & Mid Cap USD Index NTR | 11/30/2019 | 2.35% | 2.05% | 24.54% | 14.36% | 7.49% | 3.21% | N/A | 2.70% |
| Quarter End | |||||||||
| NAV | 09/30/2019 | 2.25% | 0.78% | 22.22% | 4.61% | 7.06% | 2.60% | N/A | 2.40% |
| Market Value | 09/30/2019 | 2.48% | 1.22% | 22.34% | 4.48% | 6.96% | 2.71% | N/A | 2.41% |
| Return after Taxes on Distributions | 09/30/2019 | 2.25% | 0.78% | 21.70% | 3.97% | 6.64% | 2.14% | N/A | 1.97% |
| Return after Taxes on Distributions and Sale of Fund Shares | 09/30/2019 | 1.33% | 0.46% | 13.14% | 3.19% | 5.56% | 2.05% | N/A | 1.89% |
| Solactive GBS Canada Large & Mid Cap USD Index NTR | 09/30/2019 | 2.22% | 0.70% | 22.05% | 4.35% | 7.00% | 2.61% | N/A | 2.40% |
| Fund Before Tax Fund After Tax | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Annualized | |||||||||
| As of | 1 Month | QTD | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception 06/11/2014 |
|
| Month End | |||||||||
| NAV | 11/30/2019 | 2.36% | 2.08% | 24.76% | 14.62% | 7.56% | 3.23% | N/A | 2.71% |
| Market Value | 11/30/2019 | 2.76% | 2.34% | 25.20% | 15.13% | 7.62% | 3.28% | N/A | 2.77% |
| Return after Taxes on Distributions | 11/30/2019 | 2.36% | 2.08% | 24.24% | 13.93% | 7.14% | 2.76% | N/A | 2.29% |
| Return after Taxes on Distributions and Sale of Fund Shares | 11/30/2019 | 1.39% | 1.23% | 14.64% | 9.15% | 5.94% | 2.53% | N/A | 2.13% |
| Solactive GBS Canada Large & Mid Cap USD Index NTR | 11/30/2019 | 2.35% | 2.05% | 24.54% | 14.36% | 7.49% | 3.21% | N/A | 2.70% |
| Quarter End | |||||||||
| NAV | 09/30/2019 | 2.25% | 0.78% | 22.22% | 4.61% | 7.06% | 2.60% | N/A | 2.40% |
| Market Value | 09/30/2019 | 2.48% | 1.22% | 22.34% | 4.48% | 6.96% | 2.71% | N/A | 2.41% |
| Return after Taxes on Distributions | 09/30/2019 | 2.25% | 0.78% | 21.70% | 3.97% | 6.64% | 2.14% | N/A | 1.97% |
| Return after Taxes on Distributions and Sale of Fund Shares | 09/30/2019 | 1.33% | 0.46% | 13.14% | 3.19% | 5.56% | 2.05% | N/A | 1.89% |
| Solactive GBS Canada Large & Mid Cap USD Index NTR | 09/30/2019 | 2.22% | 0.70% | 22.05% | 4.35% | 7.00% | 2.61% | N/A | 2.40% |
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.
The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Prior to 9/18/2018, the Fund sought to track the MSCI Canada Factor Mix A-Series Capped Index. Effective 9/18/2018, the Fund seeks to track the Solactive GBS Canada Large & Mid Cap USD Index NTR. The inception of the Solactive GBS Canada Large & Mid Cap USD Index NTR was 7/24/2018. Performance of the Fund shown in the table prior to 9/18/2018 is therefore based on the Fund's investment strategy to track an index different from the Solactive GBS Canada Large & Mid Cap USD Index NTR.
Gross Expense Ratio: 0.20%
Net Expense Ratio: 0.14%
Performance Graphs
Month End as of 11/30/2019
Fund Inception Date: 06/11/2014
Index Inception Date: 05/06/2014
Quarter End as of 09/30/2019
Fund Inception Date: 06/11/2014
Index Inception Date: 05/06/2014
Fund Top Holdings
| Name | Weight | Shares Held |
|---|---|---|
| Royal Bank of Canada | 7.41 % | 21,394 |
| Toronto-Dominion Bank | 6.55 % | 27,120 |
| Enbridge Inc. | 5.05 % | 30,117 |
| Bank of Nova Scotia | 4.51 % | 18,202 |
| Canadian National Railway Company | 4.15 % | 10,730 |
| Brookfield Asset Management Inc. Class A | 3.23 % | 12,764 |
| Bank of Montreal | 3.14 % | 9,524 |
| Suncor Energy Inc. | 3.11 % | 23,038 |
| TC Energy Corporation | 3.07 % | 13,912 |
| BCE Inc. | 2.84 % | 13,415 |
Index Top Holdings
| Name | Weight |
|---|---|
| Royal Bank of Canada | 7.43 % |
| Toronto-Dominion Bank | 6.56 % |
| Enbridge Inc. | 5.06 % |
| Bank of Nova Scotia | 4.52 % |
| Canadian National Railway Company | 4.16 % |
| Brookfield Asset Management Inc. Class A | 3.24 % |
| Bank of Montreal | 3.14 % |
| Suncor Energy Inc. | 3.12 % |
| TC Energy Corporation | 3.08 % |
| BCE Inc. | 2.85 % |
Fund Sector Allocation
Index Sector Allocation
Fund Country Weights
| Canada | 97.57% |
| United States | 2.43% |
Fund Documents
Tax Documents
Reports & Schedules
Tax Documents
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.
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® Solactive Canada ETF.
*The Solactive GBS Canada Large & Mid Cap Index reflects linked performance returns of both the Solactive GBS Canada Large & Mid Cap Index and the MSCI Canada Factor Mix A-Series Capped Index. The index returns are reflective of the MSCI Canada Factor Mix A-Series Capped Index from fund inception until 9/18/2018 and of the Solactive GBS Canada Large & Mid Cap Index effective 9/18/2018.
Global Equity Beta Solutions
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 and is a voting member on the firm's Trade Management Oversight Committee and 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.
Karl Schneider, CAIA, is a Managing Director 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.
Keith is a Vice President at State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions (GEBS) team. He currently manages a variety of passive US and international equity funds including an assortment of ETFs, sub-advised mutual funds, and separately managed portfolios.In addition, Keith writes a Real Estate Market Commentary for the firm each quarter.
Prior to his current role, Keith spent 9 years as a Portfolio Manager in the Direct Implementation group where he managed both US active quantitative strategies and passive global REITs. During that time, he also oversaw the mass construction of separately managed accounts (SMAs). He began his time with SSGA in investment operations with a primary focus on Tax Efficient Market Capture. Keith has been with SSGA since 1999 and has been working in the investment management field since 1997.
Keith holds a Bachelor of Science in Finance from Bentley University and a MBA with a Finance concentration from the Sawyer School of Management at Suffolk University.
