SSDEX Fees and Costs — State Street Target Retirement 2045 Fund, Class K
Data updated: 2026-08-28
The net expense ratio is 0.09% (0.15% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $57K in broker commissions, 0.0020% of average net assets, and portfolio turnover was 18%.
SSDEX Fees and Expenses
Annual operating expenses and sales charges of SSDEX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.15% |
| Fee waiver | −0.06% |
| Net expense ratio | 0.09% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
SSDEX Costs Over Time
On $10,000 invested in SSDEX, assuming 5% a year before costs, total costs come to $59 over 5 years, cutting the return by 0.10% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.09%) | $9 | $30 | $52 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $1 | $5 |
| Total costs | $10 | $32 | $59 |
| Value after costs | $10,490 | $11,544 | $12,704 |
| Impact on return, per year | 0.10% | 0.10% | 0.10% |
SSDEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0020%
- Total broker commissions: $57K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $947K
- Net income from securities lending: $2K (0.000% of average net assets)
SSDEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $39K | 67.07% |
| Jane Street Execution Services, LLC | $16K | 28.09% |
| Citadel Securities LLC | $3K | 4.83% |
SSDEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.5B | 100.00% |
State Street Target Retirement 2045 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SSDEX | Class K | 0.09% | none |
| SSDDX | Class I | 0.29% | none |
| SSAOX | Class R3 | 0.59% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.