ETF Evaluator: State Street® Income Allocation ETF () Follow This ETF

State Street® Income Allocation ETF Overview

State Street® Income Allocation ETF (INKM) is an actively managed Allocation Global Moderately Conservative Allocation exchange-traded fund (ETF). State Street Investment Management launched the ETF in 2012.

The investment seeks to provide total return by focusing on investments in income and yield-generating assets. The Adviser primarily invests the assets of the fund among ETPs that provide exposure to five primary asset classes: (i) domestic and international equity securities; (ii) domestic and international investment-grade and high yield debt securities; (iii) hybrid equity/debt securities; (iv) first lien senior secured floating rate bank loans, commonly referred to as "Senior Loans"; and (v) REITs, including equity REITs and mortgage REITs.

About State Street® Income Allocation ETF (INKM)

There are 2 members of the management team with an average tenure of 13.03 years: Jeremiah Holly (2012) and Michael Martel (2014). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. State Street® Income Allocation ETF has 15 securities in its portfolio. The top 10 holdings constitute 89.8% 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® Income Allocation ETF is part of the Allocation global asset class and is within the Allocation ETF group. State Street® Income Allocation ETF has 26.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 34.9% There is 9.7% allocated to foreign stock, and 6.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 44.8% (27.6% domestic bond, 17.1% foreign bond and 3.1% convertible bond). State Street® Income Allocation ETF has 1.0% of the portfolio in cash.

Assets Under Management

The fund has $74 million in total assets, which is below the $293 million average for the Global Moderately Conservative Allocation 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.

INKM 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® Income Allocation ETF expense ratio is average compared to funds in the Global Moderately Conservative Allocation category. State Street® Income Allocation ETF has an expense ratio of 0.50%, which is 64% lower than its category average, making the fund expense ratio grade a B. 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® Income Allocation ETF has a portfolio turnover rate of 99%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 154% for the Global Moderately Conservative Allocation category.

Recently, in the month of July 2026, State Street® Income Allocation ETF returned 0.3%, which earned it a grade of A, as the Global Moderately Conservative Allocation category had an average return of -0.8%. 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® Income Allocation ETF has a trailing yield of 4.78%, which is above the 4.36% category average. The fund normally distributes its income quarterly.

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® Income Allocation ETF Grades

Year to date, the ETF has returned 6.6%, 0.5 percentage points better than the category, which translates into a grade of B. The fund has returned 11.6% over the past year (grade of D), 8.8% over the past three years (grade of F) and 4.1% per year over the past five years (grade of D) and 5.2% per year over the past 10 years (grade of D).

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