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State Street Target Retirement 2050 R3 Overview

State Street Target Retirement 2050 R3 (SSAUX) is an actively managed Allocation Target-Date 2050 fund. State Street Investment Management launched the fund in 2022.

The investment seeks capital growth and income over the long term. SSGA Funds Management, Inc. (the "Adviser" or "SSGA FM") manages the Target Retirement 2050 Fund using a proprietary asset allocation strategy. The fund is a "fund of funds" that invests in a combination of mutual funds and ETFs sponsored by the Adviser or its affiliates ("underlying funds"). It is intended for investors expecting to retire around the year 2050 and who are likely to stop making new investments in the fund at that time.

About State Street Target Retirement 2050 R3 (SSAUX)

There are 2 members of the management team with an average tenure of 6.39 years: Michael Narkiewicz (2018), Seamus Quinn (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and State Street Tgt Rtrmnt 2050 Comp TR USD index with a weighting of 100%. State Street Target Retirement 2050 R3 has 7 securities in its portfolio. The top 10 holdings constitute 100.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

State Street Target Retirement 2050 R3 is part of the Allocation global asset class and is within the Allocation fund group. State Street Target Retirement 2050 R3 has 36.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 50.5%. There is 36.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 11.4% (11.2% domestic bond, 0.2% foreign bond and 0.0% convertible bond). State Street Target Retirement 2050 R3 has 2.0% of the portfolio in cash.

Assets Under Management

The fund has $29 million in total assets, which is below the $1 billion average for the Target-Date 2050 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.

SSAUX 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 Target Retirement 2050 R3 expense ratio is average compared to funds in the Target-Date 2050 category. State Street Target Retirement 2050 R3 has an expense ratio of 0.59%, which is 14% lower than its category average, making the fund expense ratio grade a C. 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 Target Retirement 2050 R3 has a portfolio turnover rate of 17%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 22% for the Target-Date 2050 category.

Recently, in the month of July 2026, State Street Target Retirement 2050 R3 returned -0.9%, which earned it a grade of D, as the Target-Date 2050 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 funds in that category.

State Street Target Retirement 2050 R3 has a trailing yield of 1.67%, which is above the 1.58% category average. The fund normally distributes its income annually.

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 Target Retirement 2050 R3 Grades

Year to date, the fund has returned 9.7%, 0.6 percentage points worse than the category, which translates into a grade of D. The fund has returned 19.6% over the past year (grade of D), 15.1% over the past three years (grade of D) and 7.8% per year over the past five years (grade of F) and 10.6% per year over the past 10 years (grade of D).

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