SPDR S&P Kensho Smart Mobility ETF

The SPDR S&P Kensho Smart Mobility ETF (HAIL) is a State Street index fund that tracks the S&P Kensho Smart Transportation Index. The index picks companies tied to electric vehicles, self-driving vehicles, drones and transport systems. It spreads its money across 87 stocks, and none was above 2.2% of assets as of June 30, 2026. It charges 0.45% a year, a bit more than Fidelity's similar FDRV (0.40%), and it swings hard: it lost 45.6% in 2022.

• Over the year to Oct 27, 2026, HAIL returned -12.5%, 2nd of 3 among similar funds.
• Its 5-year annualized return was -9.0%.
• In the 2020 COVID crash it fell 47.7% and regained its old high 3.6 months after the low.
• Its worst full calendar year was 2022 (-45.7%); its best was 2020 (+84.3%).
• The deepest fall in its price history was 66% (Feb 9, 2021 to Apr 8, 2025), not yet recovered.

As of Jun 30, 2026, the fund held 87 securities; the ten largest made up 17.32% of assets. It also reported 9.38% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

• Over the three months to Jun 30, 2026, investors added a net $1.3M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +15.55%, +15.98%, -8.01%.

HAIL aims to match the total return (price changes plus dividends), before fees, of the S&P Kensho Smart Transportation Index. That index combines four narrower Kensho indexes: autonomous vehicles, advanced transport systems (fleets, cargo and mass transit), electric vehicles and clean fuels, and civilian and commercial drones. Stocks must be US-listed, but the companies can be based in developed or emerging markets.

An automated scan reads companies' annual reports and other SEC filings for phrases tied to each theme. It then drops firms whose products fall outside that theme. The remaining stocks must trade on the NYSE, Nasdaq or Cboe at $1 a share or more. Each company needs at least $100 million of shares in public hands, and its shares must trade an average of $1 million a day over three months. An index committee checks the results. As of June 30, 2026, the largest of the fund's 87 holdings was 2.1% of assets, and the top 10 made up 17.3%.

SSGA Funds Management, State Street's adviser, may hold a representative sample of index stocks, but at least 80% of assets must be in index stocks. It may use futures (contracts to trade at a set future price) to manage cash flows. The lineup changes when the index is rebuilt from time to time. Turnover was 48%, meaning trades equal to about half the portfolio in a year.

• HAIL charges 0.45% a year, versus an average of 0.54% for the similar funds below (2nd of 3, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $46 in the first year and $567 over 10 years (assuming a 5% annual return).

It is a narrow theme fund whose deepest drop reached 66%, so it fits as a small, higher-risk add-on rather than a core holding.

HAIL could add a small, deliberate bet on electric-vehicle, self-driving and transport-technology stocks, but it is volatile. It launched in 2017, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 47.7% in under a month, then took about 3.6 months from the low to recover. In 2022 it lost 45.6%, its worst calendar year. Its deepest drop, 66% from February 2021 to April 2025, had not been recovered as of October 27, 2026. Taking money out during a slump like that would lock in steep losses.

Its trailing 12-month yield was 2.09% as of October 27, 2026, paid quarterly. It costs 0.45% a year, or $46 in the first year on $10,000 under the SEC's standard example. Past results don't predict future ones, and a sound plan looks at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).