ETF Evaluator:
State Street® Fixed Inc Sect RotationETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Intermediate Core Bond Over the Last Year
| 7.3% | Aptus Enhanced Yield ETF (JUCY) |
| 6.6% | SGI Enhanced Core ETF (USDX) |
| 5.9% | Hartford Schroders Tax-Aware Bond ETF (HTAB) |
| 5.1% | Overlay Shares Core Bond ETF (OVB) |
| 4.8% | NEOS Enhanced Income Aggregate Bond ETF (BNDI) |
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Risk
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ETF Details
State Street® Fixed Inc Sect RotationETF Overview
State Street® Fixed Inc Sect RotationETF (FISR) is an actively managed Taxable Bond Intermediate Core Bond exchange-traded fund (ETF). State Street Investment Management launched the ETF in 2019.
The investment seeks to maximize risk-adjusted return and provide current income.
Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of borrowings for investment purposes) directly, or indirectly through underlying exchange-traded funds (“ETFs”), in fixed income securities. The adviser, allocates the fund’s assets based on a risk-aware, top-down approach to construct a portfolio that seeks to overweight the fund’s exposure to the most attractive Fixed Income Sectors.
About State Street® Fixed Inc Sect RotationETF (FISR)
There are 3 members of the management team with an average tenure of 0.10 years: James Palmieri (2026), Matthew Nest (2026) and Barry McAndrew (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. State Street® Fixed Inc Sect RotationETF has 12 securities in its portfolio. The top 10 holdings constitute 101.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
State Street® Fixed Inc Sect RotationETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. State Street® Fixed Inc Sect RotationETF has 7.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.4% (91.0% domestic bond, 7.4% foreign bond and 0.0% convertible bond). State Street® Fixed Inc Sect RotationETF has 1.6% of the portfolio in cash.
Assets Under Management
The fund has $491 million in total assets, which is below the $6 billion average for the Intermediate Core Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FISR Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The State Street® Fixed Inc Sect RotationETF expense ratio is average compared to funds in the Intermediate Core Bond category. State Street® Fixed Inc Sect RotationETF has an expense ratio of 0.50%, which is 56% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. State Street® Fixed Inc Sect RotationETF has a portfolio turnover rate of 127%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 95% for the Intermediate Core Bond category.
Recently, in the month of July 2026, State Street® Fixed Inc Sect RotationETF returned -1.4%, which earned it a grade of D, as the Intermediate Core Bond category had an average return of -1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
State Street® Fixed Inc Sect RotationETF has a trailing yield of 4.28%, which is below the 4.44% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
State Street® Fixed Inc Sect RotationETF Grades
Year to date, the ETF has returned -0.6%, 0.2 percentage points worse than the category, which translates into a grade of C. The fund has returned 2.5% over the past year (grade of F), 3.2% over the past three years (grade of F) and -1.3% per year over the past five years (grade of F).
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FISR Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FISR Return (NAV) | -1.4% | -0.7% | 2.5% | 3.2% | -1.3% | na |
| FISR Return (Price) | -1.4% | -0.8% | 2.5% | 3.2% | -1.3% | na |
| NAV +/- Price Return | 0.061% | 0.111% | -0.026% | -0.048% | 0.002% | na |
| Intermediate Core Bond Avg | -1.2% | -0.7% | 3.0% | 4.0% | -0.3% | 1.5% |
| FISR Grade (NAV) | D | B | F | F | F | na |
| +/- Category (NAV) | -0.1% | -0.0% | -0.6% | -0.8% | -1.0% | na |
| FISR Tax-Cost Ratio | na | na | 1.7% | 1.6% | 1.3% | na |
FISR Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FISR Return (NAV) | -0.6% | 6.2% | 1.0% | 5.2% | -15.7% | -1.8% | 6.0% | na | na | na | na |
| FISR Return (Price) | -0.7% | 6.3% | 1.0% | 5.3% | -15.7% | -1.7% | 5.9% | na | na | na | na |
| NAV +/- Price Ret | 0.221% | 0.015% | 0.024% | 0.012% | 0.003% | -0.062% | -0.031% | na | na | na | na |
| Intermediate Core Bond Avg | -0.4% | 7.1% | 1.9% | 6.0% | -13.2% | -1.5% | 7.6% | 9.1% | -0.5% | 3.7% | 3.0% |
| FISR Grade (NAV) | C | F | F | F | F | D | F | na | na | na | na |
| +/- Category | -0.2% | -0.9% | -0.9% | -0.8% | -2.5% | -0.3% | -1.6% | na | na | na | na |
| Risk Measures | |
| Beta: | 1.02 |
| R-Squared: | 99% |
| Standard Deviation: | 5.7% |
| Category Risk Index: | 1.03 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.47 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.3% |
| Total Assets: | $ 492 Mil |
| Share Class Assets: | $ 492 Mil |
| Turnover: | 127.0% |
| Expense Ratio: | 0.50% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.1 years | |||
| Average Tenure: 0.1 years | |||
| Managers (Year): Palmieri James (2026), Nest Matthew (2026), McAndrew Barry (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 12 |
| % in Top 10 Holdings: | 101.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 91.0% |
| Foreign Bond: | 7.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | State Street Investment Management |
| Phone Number: | 866-787-2257 |
| Website: | www.spdrs.com |
| Inception Date: | April 2, 2019 |
Expenses and Fees
| Expense Ratio (%): | 0.50% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.32% |
