SSGA Active Trust State Street Bridgewater All Weather ETF

ALLW

Market cap $1.1B

It is a global multi-asset ETF that follows Bridgewater's All Weather approach. The strategy is famous for providing inter-regime stability, resilient across market regimes, with a 10–12% volatility target. It is a strong representation of what Dalio explains precisely in his publications on the "big cycle."

What does 2026 hold for investors? No one can predict the future, but investors can certainly prepare for it.

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There's a lot of collective wisdom about the challenge of forecasting markets and the economy. Warren Buffet once famously said: “”Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

The SPDR Bridgewater All Weather ETF offers a global, multi-asset strategy inspired by Ray Dalio's all-weather investing principles. ALLW is actively managed, balancing exposures across economic regimes, but carries a high expense ratio (0.85%) and a limited track record since its March 2025 launch. Current performance is consistent with its mandate, but peers like GRNY and AOR show differing results due to geographic and asset allocation differences.

October weather in New York has been confusing. One weekend, it was a sunny 80 degrees, and I was in shorts.

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I rate ALLW a hold due to its high expense ratio and straightforward allocation, despite its diversified, global, multi-asset approach. ALLW uses leverage and includes significant non-US assets, which could outperform in volatile macro environments or a weaker dollar scenario. The fund has underperformed low-cost alternatives like AOR and may lag if US mega-cap tech stocks continue to lead the market.