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ETF sheet · Issuer-declared data
Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
🇮🇹 Effective capital-gains rate: 26.00%details →

State Street Global Screened Enhanced Equity Fund - UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: LU3121015641Ticker: SGBE (Borsa Italiana)Issuer: SPDR

Global Equity actively managed; the declared benchmark, MSCI World Index, is a yardstick, accumulating. Share class in US dollars (USD).

0.45% + 0.06%
TER + KID transaction costs ✓ declared by the issuer
504
rows published by the issuer · holdings ↓ ✓ declared by the issuer
260 m €
fund assets ✓ declared by the issuer
Every figure carries its provenance: ✓ declared by the issuer in its documents · ≈ computed by Rebalix on the declared data.

Fund

Name
State Street Global Screened Enhanced Equity Fund - UCITS ETF
Declared index
MSCI World Index
Management
Active management (from the KID)
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
259.8 mln EUR
Domicile
Luxembourg

Share class · this page

ISIN
LU3121015641
Ticker
SGBE (Borsa Italiana)
Share-class currency
US dollars (USD)
TER
0.45%
Transaction costs
0.06% (issuer estimate, from the KID)
Income policy
NAV
11.75 USD (14 October 2026)
Share-class launch
24 November 2025
Data as declared by SPDR in the issuer’s official files and endpoints · collected on 17 October 2026 (monthly refresh). Facts only, no recommendation.
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Quick reads

  • TER 0.45%above the median of equity ETFs we track (0.23%).≈ computed by Rebalix
  • Information Technology 32.2%first sector from the declared portfolio✓ declared by the issuer
  • 504 rowspublished by the issuer; completeness of the list not declared✓ declared by the issuer
  • Top 10 = 27.9%of the fund✓ declared by the issuer
  • Effective rate 26.00%on capital gains for Italian tax residents: from the declared white-list share≈ computed by Rebalix
✓ declared by the issuer · ≈ computed by Rebalix on the declared data in our census. They describe the past and are not indicative of future results.

Description and fund objective

State Street Global Screened Enhanced Equity Fund - UCITS ETF is an actively managed ETF: it does not track an index — the declared index (MSCI World Index) is a comparison yardstick only. The declared annual cost (TER) is 0.45%, plus 0.06% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 260 million euro, was launched on 24 November 2025 and is domiciled in Luxembourg. In our registry 3 other ETFs declare the same index.

The fund’s objective — in the issuer’s words

Investment objective The objective of the Fund is to provide a return in excess of the performance of global developed equity markets. Investment policies The investment policy of the Fund is to outperform the MSCI World Index (or any other index determined by the Directors from time to time to represent substantially the same market as the Index) over the medium and long term.

Keep reading the KID section ▾

The Investment Manager applies a negative and norms-based screen to the Fund to screen out securities based on an assessment of their adherence to ESG criteria including securities of companies identified as being non-compliant with UNGC Principles (relating to environmental protection, human rights, labour standards, anticorruption) and securities of companies associated with Severe ESG Controversies, controversial weapons, civilian firearms, tobacco, thermal coal, arctic oil & gas exploration, and oil sands extraction. By applying the relevant negative and norms-based screen, the Investment Manager deems the Fund's sustainable investments not to cause significant harm to any environmental or social sustainable investment objective. The Fund promotes environmental or social characteristics in accordance with SFDR Article 8. These environmental and social characteristics are detailed in the SFDR Annex of the Fund's Supplement. The Investment Manager, on behalf of the Fund, will invest actively with limited risk parameters relative to the Index, using the Quantitative Equity Strategy as further described in the "Investment Strategies" section of the Prospectus and also employs a negative and norms-based ESG screen prior to the construction of the portfolio of the Fund and on an ongoing basis, as further described in the "ESG Screening" subsection of the "ESG Investing" section of the Prospectus. The securities in the portfolio are selected primarily from the securities in the index. The Fund may invest in or gain exposure to securities registered in or trading in markets other than those included in the index. The investment strategy uses defined risk parameters that mean the fund's weighting to countries, sectors and securities relative to the respective index will be limited. This is likely to limit the extent to which the Fund can outperform the MSCI World Index. In order to achieve its investment objective, this Fund will only invest in: Q Liquid assets; and Q Derivatives for efficient portfolio management and investment purposes, limited to swaps, options, futures and forward foreign exchange contracts. The Fund may lend up to 40% of the securities it owns. The Shares of the USD Class are issued in U.S. Dollar. The Fund may not be appropriate for investors who plan to withdraw their money within five years. Shareholders may redeem shares on any Luxembourg and UK business day (other than days on which relevant financial markets are closed for business and/or the day preceding any such day provided that a list of such closed market days will be published for the Fund on www.ssga.com); and any other day at the Directors' discretion (acting reasonably) provided Shareholders are notified in advance of any such days. Save in exceptional circumstances, the Fund will generally only issue and redeem shares to certain institutional investors. However, shares of the Fund may be purchased or sold through brokers on one or more stock exchanges. The Fund trades on these stock exchanges at market prices which may fluctuate throughout the day. Market prices may be greater or less than the daily net asset value of the Fund. Any income earned by the Fund will be retained and reflected in an increase in the value of the shares. Index Source: The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with State Street Investment Management and any related funds, as well as additional disclaimers that apply to the MSCI indexes. The MSCI indexes are the exclusive property of MSCI and may not be reproduced or extracted and used for any other purpose without MSCI's consent. The MSCI indexes are provided without any warranties of any kind. Please see the Prospectus for the full index disclaimer.

Intended retail investorThis Fund is intended for investors who plan to stay invested for at least 5 years and are prepared to take on a medium-high level of risk of loss to their original capital in order to get a higher potential return. It is designed to form part of a portfolio of investments. Practical information Depositary The Fund depositary is State Street Bank International GmbH, Luxembourg Branch.

From the KID’s “Objectives” section · KID acquired on 5 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

What has changed in the fund over time

Every month we snapshot the register and the holdings and keep the picture. The history shows how the fund changes, not only what it is today.

  1. Share-class launch
    24 November 2025
    declared by the issuer
  2. Basket snapshots
    3 monthly
    since August 2026
  3. Dated events
    none so far
    TER, index, name, tax: every change is an event
Open the history →

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →
PerformanceIn this sectionChartBacktest

Fund performance

issuer-declared net asset value (NAV) · USD (loading exchange rates) · from Nov 2025 to Oct 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+16.8%
Annualised
+19.0%
Volatility (ann.)
11.9%
Max drawdown
-8.82%
-6%+1%+9%+16%+23%Nov 2025Feb 2026May 2026Aug 2026Oct 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+16.8%
25 Nov 2025 → 16 Oct 202611 months · +16.8%
25 Nov 202516 Oct 2026Nov 2025Oct 2026
Accumulating class: income is reinvested inside the fund and already reflected in the NAV; no distribution is left out of the chart.
Calculations on the NAV: issuer total-return series not available.
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-2%-4%-6%-8%-10%20252026−8.82% · 30 Mar 2026
Max drawdown
-8.82%
peak → trough
Trough
30 Mar 2026
from the 25 Feb 2026 peak
Recovery time
15 days
recovery only: trough to break-even
Underwater
48 days
decline + recovery: peak to break-even · → recovered on 14 Apr 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
25 Feb 202630 Mar 2026-8.82%14 Apr 202648
02 Jun 202610 Jun 2026-4.07%15 Jul 202643
13 Aug 202616 Sept 2026-2.63%ongoing64
15 Jul 202629 Jul 2026-2.34%03 Aug 202619
27 Jan 202605 Feb 2026-2.07%09 Feb 202613

Calendar-year returns

2025
2.5%
launch 24 Nov, series from 25 Nov
2026
13.9%
2025: the share class was launched on 24 November 2025 and the available series starts on 25 November 2025; the return runs from that date (not from launch) to 31 December 2025 and is not a full year.

Month-by-month returns

2026Year 13.9%
Jan
2.3
Feb
1.3
Mar
-8.4
Apr
12.3
May
4.8
Jun
-0.8
Jul
1.3
Aug
2.5
Sept
-0.9
Oct
0.1
Nov
·
Dec
·
2025Year 2.5%(from 25 Nov)
Jan
·
Feb
·
Mar
·
Apr
·
May
·
Jun
·
Jul
·
Aug
·
Sept
·
Oct
·
Nov
·
Dec
1.1
JanFebMarAprMayJunJulAugSeptOctNovDecYear
20262.31.3-8.412.34.8-0.81.32.5-0.90.113.9
20251.12.5(from 25 Nov)
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested: where declared). Deeper colour = larger move.

Method and sources

Source: SPDR. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available August 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.
RiskIn this sectionRisk

Risk indicators· EUR

Full history
Volatility (ann.)11.44%
Max drawdown-6.44%
Sharpe1.70
Sortino2.62
Full history
Volatility (ann.)11.44%
Max drawdown-6.44%
Sharpe1.70
Sortino2.62
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.27%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.
PortfolioIn this sectionHoldings

Portfolio holdings

Rows in the published list
504
Top-10 weight
27.9%

Top 10 holdings

NVIDIA Corporation
5.91%
Apple Inc.
5.26%
Microsoft Corporation
3.89%
Amazon.com Inc.
2.77%
Alphabet Inc. Class A
2.23%
Broadcom Inc.
1.79%
Alphabet Inc. Class C
1.76%
Meta Platforms Inc Class A
1.65%
Micron Technology Inc.
1.38%
Advanced Micro Devices Inc.
1.21%

Sectors

Information Technology
32.2%
Financials
15.5%
Industrials
11.0%
Health Care
9.2%
Consumer Discretionary
8.3%
Communication Services
8.2%
Consumer Staples
4.6%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.6%Austria: 0.1%AzerbaijanBurundiBelgium: 0.2%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 3.2%Switzerland: 2%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 1.9%DjiboutiDenmark: 0.3%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 1%EstoniaEthiopiaFinland: 0.2%FijiFalkland IslandsFrance: 2.1%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.1%IranIraqIcelandIsrael: 0.4%Italy: 0.8%JamaicaJordanJapan: 5.9%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1.5%Norway: 0.2%NepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugal: 0.2%ParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 0.7%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 73.4%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States73.4%
Japan5.9%
United Kingdom3.3%
Canada3.2%
France2.1%
Switzerland2%
Germany1.9%
Breakdown computed by Rebalix by aggregating the full-precision per-position weights declared by the issuer.
⬇ Download the published holdings — Excel, 504 rows
Holdings as published by SPDR, holdings as at 30 September 2026: 504 rows archived by Rebalix, summarised here. Rebalix has no statement from the issuer on the completeness of this list. How Rebalix verifies portfolio holdings →
StructureIn this sectionSame indexExchanges

ETFs declaring the same index

FundTERIncomeFund size
SWRD · SPDR
0.12%Acc.20 mld EUR
IWDE · iShares
0.55%Acc.5.4 mld EUR
SWWD · SPDRnot on Borsa Italiana
0.12%Dist.20 mld EUR
4 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted as follows: Milan-listed classes first, then the others; within each group by ascending TER, then by descending assets. A dash “—” = not declared by the issuer in the files we read — not a zero.

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

LU3121015641SGBE
  • Directazero within the savings plan (buys)
  • Directazero on single buys from 2,000 €, agreement until 31 May 2027
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 15 October 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

Exchanges with a ticker available
ExchangeTickerExchange sourceRegistered since
Borsa Italiana (ETFplus)SGBEfrom the issuerESMA register (FIRDS)27 Nov 2025
from the issuer — ticker declared by the issuer in its product list.
Each row is one exchange: the operator with all its markets and segments (regulated market and Freiverkehr included). “Registered since”: admission date in the ESMA register (FIRDS), not necessarily the first trading day; a dash = date not recorded in the sources.
+ 2 other trading platforms (platforms for professional participants and segments without admission to listing, such as an exchange operator’s dark books or auctions): they are not exchanges and are not listed.
Exchanges are taken from the official ESMA register (FIRDS) and, where FIRDS does not cover the exchange (London, Zurich) or does not record the current listing, from the issuers’ product lists and documents: the “Exchange source” column says so row by row. Each exchange is a single row, with all its markets and segments. Tickers come from the issuers’ product lists and tax documents or, where indicated, from ISIN→exchange mapping under the open FIGI standard (OpenFIGI). Activity on a dark book, an auction or an ancillary platform does not prove a listing on the exchange that operates it. Rebalix mainly covers venues in the European Economic Area, Switzerland and the United Kingdom: when the issuer declares current listings in other jurisdictions too, they appear with their source, outside the ESMA register perimeter. Terminated or cancelled listings are not shown. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker.
DocumentsIn this sectionDocumentsFAQ

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Frequently asked questions

Which index does State Street Global Screened Enhanced Equity Fund - UCITS ETF track?
The issuer SPDR declares the benchmark: MSCI World Index.
How much does SGBE cost?
The issuer-declared TER is 0.45% per year; the transaction costs estimated in the KID are 0.06%.
How is SGBE taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of SGBE?
The fund size declared by SPDR is about 260 million euro.
When was SGBE launched?
The fund was launched on 24 November 2025: it has been trading for 329 days: the page fills up as the issuer publishes data.
Is SGBE actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (MSCI World Index) is a yardstick for comparison, not an index being tracked.
Does SGBE pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
What was SGBE's worst fall?
Over the available history (since 2025), the maximum drawdown was -8.82%, reached in March 2026. Past performance is not indicative of future results.
How many positions does SGBE publish?
The list published by the issuer and archived by Rebalix has 504 rows; the top 10 weigh 27.9%. The issuer does not declare the list as complete: rows are reported as published, weights included, even where a position has zero weight.
Transparency note
The data in this sheet is declared by SPDR in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.
Do you represent the issuer? Report a correction or an update