ULST attempts to find worthwhile returns while taking little interest rate risk. Its actively managed take relies heavily on fund managers to select securities rather than tracking an index, which gives it a level of freedom with regards to the composition of the portfolio. Also, ULST broadens its pool by holding a wide variety of instruments, both from government and corporate issuers, provided theyre investment-grade, USD-denominated, and very short-dated. The fund aims for an effective duration between three and nine months, and a weighted average maturity between six and eighteen months. Prior to Oct. 31, 2025, the fund did not use the State Street brand reference in the fund name.