State Street US Sector Rotation ETF
XLSR
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- State Street US Sector Rotation ETF (XLSR) is an actively managed exchange-traded fund that seeks capital appreciation by tactically allocating assets among Global Industry Classification Standard (GICS)-defined sectors of the S&P 500 Index. The ETF invests primarily in sector-specific exchange-traded funds, including the Technology Select Sector SPDR Fund (XLK), Health Care Select Sector SPDR Fund (XLV), Communication Services Select Sector SPDR Fund (XLC), Consumer Discretionary Select Sector SPDR Fund (XLY), Consumer Staples Select Sector SPDR Fund (XLP), and Financial Select Sector SPDR Fund (XLF), as well as individual large-cap U.S. equities such as Meta Platforms Inc., Alphabet Inc., NVIDIA Corp., Microsoft Corp., and Apple Inc.; top holdings typically represent over 85% of the portfolio, with sector weights dynamically adjusted based on quantitative models and qualitative analysis from State Street's Investment Solutions Group. Launched on April 2, 2019, and domiciled in the United States, XLSR trades on the NYSE Arca exchange under the ticker XLSR with a gross expense ratio of 0.70%; it targets institutional and retail investors seeking large-blend equity exposure with active risk management relative to the S&P 500 benchmark, maintaining approximately 25-28 holdings and assets under management exceeding $860 million as of late 2025. The fund is managed by a team including Michael Martel (since inception), Jeremiah Holly, Juan Acevedo, and Emiliano Rabinovich, with monthly rebalancing that may vary based on market conditions. In recent developments, XLSR declared a quarterly distribution of $0.0998 per share on June 25, 2025, marking a slight increase from prior payouts and underscoring its commitment to income alongside growth amid volatile markets; the fund has demonstrated outperformance in shorter-term periods, such as a 6.22% one-month return in November 2024 surpassing the S&P 500's 5.87% and a 5.76% Q4 2024 return exceeding the benchmark's 4.91%, driven by tactical overweighting in technology and financials. No major acquisitions, partnerships, or strategic shifts specific to XLSR have been announced in the last 1-2 years, though State Street Investment Management (formerly State Street Global Advisors) continues to innovate across its SPDR active ETF suite, with XLSR benefiting from the firm's broader tactical allocation expertise managing over $266 billion in assets. The ETF remains focused on U.S. large-cap equities, with minimal non-U.S. exposure (under 0.5%), and operates from State Street's headquarters in Boston, Massachusetts.