The Real Estate Select Sector SPDR® Fund

XLRE

Key Features

  • The Real Estate Select Sector SPDR® Fund seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the Real Estate Select Sector Index (the "Index")
  • The Index seeks to provide an effective representation of the real estate sector of the S&P 500 Index
  • Seeks to provide precise exposure to companies from real estate management and development and REITs, excluding mortgage REITs
  • Allows investors to take strategic or tactical positions at a more targeted level than traditional style based investing

Fund Information

As of 12/09/2019
Ticker Symbol XLRE
Primary Benchmark Real Estate Select Sector Index
CUSIP 81369Y860
Options Available Yes
Gross Expense Ratio

Gross Expense Ratio

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.

0.13%
Inception Date 10/07/2015
Investment Manager SSGA Funds Management, Inc.
Management Team Global Equity Beta Solutions
Distributor ALPS Portfolio Solutions Distributor, Inc.
Distribution Frequency Quarterly
Exchange NYSE ARCA EXCHANGE

Fund Documents

Fund Performance

MONTH END As of 11/30/2019 QUARTER END As of 09/30/2019
1 Month-1.73%0.94%
QTD-1.85%7.66%
YTD27.20%29.60%
1 Year17.80%24.64%
3 Year12.82%10.25%
5 YearN/AN/A
10 YearN/AN/A
Inception
10.00%10.95%
Performance Disclosure

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.

Fund Characteristics

As of 12/05/2019
Est. 3-5 Year EPS Growth

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.

8.42%
Number of Holdings 32
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.

3.56
Price/Earnings Ratio FY1

Price/Earnings Ratio FY1

The weighted harmonic average of current share price divided by the forecasted one year earnings per share for each security in the fund. Negative and positive outliers are included in the calculation.

41.91
Weighted Average Market Cap $38,951.40 M

Fund Market Price

As of 12/05/2019
Bid/Ask $38.50
Closing Price $38.51
Day High $38.51
Day Low $38.24
Exchange Volume (shares) 874,246
Premium/Discount

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)

-0.00%

Yields

As of 12/05/2019
30 Day SEC Yield

30 Day SEC Yield

(Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

2.97%
30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized)

An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price that does not account for expense ratio waivers.

2.97%
Fund Dividend Yield

Fund Dividend Yield

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

2.96%
Index Dividend Yield

Index Dividend Yield

The weighted average of the underlyings' indicated annual dividend divided by price, expressed as a percentage.

3.13%

Fund Net Asset Value

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

As of 12/05/2019
NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$38.50
Shares Outstanding 100.95 M
Total Net Assets $3,886.12 M

Index Characteristics

As of 12/05/2019
Est. 3-5 Year EPS Growth 8.42%
Number of Holdings 32
Price/Cash Flow 19.80
Price/Earnings 34.23
Price/Earnings Ratio FY1 41.91

Fund Net Cash Amount

As of 12/05/2019
Net Cash Amount $2,137,181.67

Index Statistics

As of 12/05/2019
Weighted Average Market Cap $38,949.99 M
Average Size
Mean $24,661.66 M
Median $19,996.44 M
Size Range
Largest $94,558.55 M
Smallest $3,780.26 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 Chart

Fund Before Tax Fund After Tax
Annualized
As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
10/07/2015
Month End
NAV 11/30/2019 -1.73% -1.85% 27.20% 17.80% 12.82% N/A N/A 10.00%
Market Value 11/30/2019 -1.76% -1.84% 27.19% 17.84% 12.80% N/A N/A 10.00%
Return after Taxes on Distributions 11/30/2019 -1.73% -1.85% 26.13% 16.25% 11.11% N/A N/A 8.41%
Return after Taxes on Distributions and Sale of Fund Shares 11/30/2019 -1.03% -1.10% 16.07% 10.44% 9.13% N/A N/A 7.02%
Real Estate Select Sector Index 11/30/2019 -1.72% -1.83% 27.34% 17.91% 12.93% N/A N/A 10.14%
Quarter End
NAV 09/30/2019 0.94% 7.66% 29.60% 24.64% 10.25% N/A N/A 10.95%
Market Value 09/30/2019 0.98% 7.69% 29.57% 24.61% 10.24% N/A N/A 10.95%
Return after Taxes on Distributions 09/30/2019 0.66% 7.37% 28.51% 23.00% 8.59% N/A N/A 9.28%
Return after Taxes on Distributions and Sale of Fund Shares 09/30/2019 0.55% 4.54% 17.48% 14.46% 7.10% N/A N/A 7.72%
Real Estate Select Sector Index 09/30/2019 0.95% 7.71% 29.71% 24.74% 10.36% N/A N/A 11.10%
Fund Before Tax Fund After Tax
Annualized
As of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
10/07/2015
Month End
NAV 11/30/2019 -1.73% -1.85% 27.20% 17.80% 12.82% N/A N/A 10.00%
Market Value 11/30/2019 -1.76% -1.84% 27.19% 17.84% 12.80% N/A N/A 10.00%
Return after Taxes on Distributions 11/30/2019 -1.73% -1.85% 26.13% 16.25% 11.11% N/A N/A 8.41%
Return after Taxes on Distributions and Sale of Fund Shares 11/30/2019 -1.03% -1.10% 16.07% 10.44% 9.13% N/A N/A 7.02%
Real Estate Select Sector Index 11/30/2019 -1.72% -1.83% 27.34% 17.91% 12.93% N/A N/A 10.14%
Quarter End
NAV 09/30/2019 0.94% 7.66% 29.60% 24.64% 10.25% N/A N/A 10.95%
Market Value 09/30/2019 0.98% 7.69% 29.57% 24.61% 10.24% N/A N/A 10.95%
Return after Taxes on Distributions 09/30/2019 0.66% 7.37% 28.51% 23.00% 8.59% N/A N/A 9.28%
Return after Taxes on Distributions and Sale of Fund Shares 09/30/2019 0.55% 4.54% 17.48% 14.46% 7.10% N/A N/A 7.72%
Real Estate Select Sector Index 09/30/2019 0.95% 7.71% 29.71% 24.74% 10.36% N/A N/A 11.10%
Swipe to view all columns
Performance Disclosure

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.

Gross Expense Ratio: 0.13%

Performance Graphs

Month End as of 11/30/2019

Fund Inception Date: 10/07/2015

Index Inception Date: 08/15/2015

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Quarter End as of 09/30/2019

Fund Inception Date: 10/07/2015

Index Inception Date: 08/15/2015

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Fund Top Holdings

Subject to change.

Subject to change.

As of 12/05/2019
Name Weight Shares Held
American Tower Corporation 12.18 % 2,223,905
Prologis Inc. 7.43 % 3,170,763
Crown Castle International Corp 7.23 % 2,088,748
Equinix Inc. 6.12 % 426,170
Simon Property Group Inc. 5.89 % 1,547,495
Welltower Inc. 4.39 % 2,036,128
Public Storage 4.13 % 754,496
AvalonBay Communities Inc. 3.89 % 701,719
Equity Residential 3.80 % 1,751,610
SBA Communications Corp. Class A 3.44 % 567,769

Index Top Holdings

As of 12/05/2019
Name Weight
American Tower Corporation 12.18 %
Prologis Inc. 7.43 %
Crown Castle International Corp 7.23 %
Equinix Inc. 6.12 %
Simon Property Group Inc. 5.89 %
Welltower Inc. 4.39 %
Public Storage 4.13 %
AvalonBay Communities Inc. 3.89 %
Equity Residential 3.80 %
SBA Communications Corp. Class A 3.44 %

Fund Industry Allocation

As of 12/05/2019
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Index Industry Allocation

As of 12/05/2019
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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.

All total return figures assume reinvestment of dividend and capital gains at net assets value; actual returns may differ.

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 Real Estate Select Sector SPDR Fund.

There are no sales loads on Select Sector SPDR shares but ordinary brokerage commissions apply and this expense is not reflected in performance calculations.

Global Equity Beta Solutions

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

Deputy Head of GEBS - Americas Karl A. Schneider Managing Director Show BioHide Bio

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.

Senior Portfolio Manager Amy Cheng Vice President Show BioHide Bio

Amy is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions group. Within this group, she is the strategy leader for alternative asset equities. Amy is responsible for the management of various domestic, international and emerging market equity index strategies, including listed real estate securities and commodities.

Prior to joining the Global Equity Beta Solutions group in May 2008, Amy worked in the Implementation Group where she performed the day-to-day management of active developed and emerging market equity portfolios. She also worked as an Operations Associate responsible for funds managed by the active international equities team. Prior to joining SSGA in 2000, Amy worked at Mellon Financial.

Amy earned a BA in Economics and Political Science from the University of Rochester and an MBA from the Carroll School of Management at Boston College. Amy is a member of the FTSE EPRA/NAREIT Global Real Estate Index Series Americas Regional Advisory Committee.

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.

Real Estate Select Sector Index

The companies included in each Select Sector Index are selected on the basis of general industry classification from a universe of companies defined by the Standard & Poor's 500 Composite Stock® Index ("S&P 500®"). The ten Select Sector Indexes (each a "Select Sector Index") upon which the Select Sector SPDR Funds are based together comprise all of the companies in the S&P 500.

The Real Estate Select Sector Index includes companies from the following industries: real estate management and development and REITs, excluding mortgage REITs.

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.

All ETFs are subject to risk, including possible loss of principal. Sector ETF products are also subject to sector risk and non-diversification risk, which generally result in greater price fluctuations than the overall market.

Select Sector SPDR Funds bear a higher level of risk than more broadly diversified funds.

Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions.

Index-based ETFs are passively managed and seek to track an index of securities. Expenses may cause the ETF’s returns to deviate from the returns of the index.

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.

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.

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.

Glossary

Premium Discount to NAV

As of 12/05/2019
Ticker NAV Close Bid/Ask Mid Pt Premium/ Discount
The Real Estate Select Sector SPDR® Fund XLRE $38.50 $38.51 $38.50 -0.00%
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.

Centralized Systematic Valuation Aggregated Cash Flow (ACF) File

This information provided is calculated by Bloomberg Finance L.P., a third party not affiliated with SSGA. Neither SSGA nor its affiliates assume any liability for or guarantee the timeliness, accuracy and completeness of the information provided. The information provided is as of the date indicated and is subject to change.

This analysis or any portion thereof may not be revised or changed in any way, reprinted, sold or redistributed without the written consent of SSGA.

This cash flow table and the data contained herein (together, "Content") is provided for informational purposes only, on an "as is" basis. No source of Content, or any of its affiliates (each a "Source"), makes any warranty, express or implied, that the Content is accurate, complete or error-free, and it should not be relied upon as such. No Source guarantees the timeliness, reliability, performance, continued availability, or currency of the Content or any results obtained therefrom. No Source shall be liable for any damages, including without limitation, any special, punitive, indirect, incidental or consequential damages, or any lost profits, arising from the use of or reliance on the Content, even if advised of the possibility of such damages. Nothing in the Content shall constitute or be construed as an offering of financial instruments by any Source, or as investment advice or recommendations by such entities of an investment strategy or whether or not to "buy", "sell" or "hold" an investment.

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