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Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

SPDR® Nuveen Bloomberg Municipal Bond ETF

TFI | ETF

$46.10

$3.62 B

3.03%

$1.40

0.23%

Vitals

YTD Return

0.5%

1 yr return

4.7%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

0.3%

Net Assets

$3.62 B

Holdings in Top 10

5.0%

52 WEEK LOW AND HIGH

$46.1
$45.15
$47.12

Expenses

OPERATING FEES

Expense Ratio 0.23%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 9.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

SPDR® Nuveen Bloomberg Municipal Bond ETF

TFI | ETF

$46.10

$3.62 B

3.03%

$1.40

0.23%

TFI - Profile

Distributions

  • YTD Total Return 0.5%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.84%
DIVIDENDS
  • Dividend Yield 3.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SPDR® Nuveen Bloomberg Municipal Bond ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Sep 13, 2007
  • Shares Outstanding
    92551036
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Timothy Ryan

Fund Description

In seeking to track the performance of the Bloomberg Municipal Managed Money 1-25 Years Index  (the “Index”), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, Nuveen Asset Management, LLC (“Nuveen Asset Management” or the “Sub-Adviser”), the investment sub-adviser to the Fund, either may invest the Fund's assets in a subset of securities in the Index or may invest the Fund's assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index, as determined by the Sub-Adviser to be in the best interest of the Fund in pursuing its objective.Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index and in securities that the Sub-Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Index. Additionally, the Fund intends to invest, under normal circumstances, at least 80% of its net assets, plus the amount of borrowings for investment purposes, in investments the income of which is exempt from Federal income tax. In addition, in seeking to track the Index, the Fund may invest in debt securities that are not included in the Index. The Fund may also invest in cash and cash equivalents or money market instruments (including money market funds advised by SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund) for cash management purposes. In seeking to track the Index, the Fund's assets may be concentrated in an industry or group of industries, but only to the extent that the Index concentrates in a particular industry or group of industries.The Index is designed to track the U.S. fully tax-exempt bond market. The Index includes state and local general obligation bonds, revenue bonds, pre-refunded bonds, and insured bonds. The Index is comprised of tax-exempt municipal securities issued by states, cities, counties, districts and their respective agencies. A general obligation bond is secured by the full faith and credit of its issuer. A revenue bond is payable from a specific source of revenue. A pre-refunded bond is a revenue bond that the issuer has allocated funds to fully retire. An insured bond is protected from issuer default or rating downgrade by an insurance company. The Index also includes municipal lease obligations, which are securities issued by state and local governments and authorities to finance the acquisition of equipment and facilities. They may take the form of a lease, an installment purchase contract, a conditional sales contract, or a participation interest in a lease or contract.The Index is a rules-based, market-value weighted index engineered for the tax-exempt bond market. All bonds in the Index must be U.S. dollar denominated and rated Aa3/AA- or higher by at least two of the following statistical ratings agencies: Moody's Investors Service, Inc., S&P Global Ratings, and Fitch Ratings Inc. If only two of the three agencies rate the security, the lower rating is used to determine index eligibility. If only one of the agencies rates the security, the rating must be at least Aa3/AA-. In addition, to be included in the Index, a security must meet the following requirements: (i) must be fixed rate; (ii) have been issued within the last five years; (iii) have an outstanding par value of at least $7 million and have been issued as part of a transaction of at least $75 million; and (iv) have a remaining maturity of greater than or equal to 1 year and less than 25 years. Securities included in the Index may include when-issued securities. Bonds subject to alternative minimum tax, hospital bonds, housing bonds, tobacco bonds, and airline bonds are excluded from the Index. The Index is rebalanced monthly on the last business day of the month. As of July 31, 2024, there were 20,697 securities in the Index.The Index is sponsored by Bloomberg Index Services Limited (the “Index Provider”), which is not affiliated with the Fund, the Adviser or the Sub-Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index.
Read More

TFI - Performance

Return Ranking - Trailing

Period TFI Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -5.9% 33.6% 93.14%
1 Yr 4.7% -0.3% 37.8% 73.15%
3 Yr -1.4%* -10.7% 3.6% 85.83%
5 Yr 0.3%* -6.8% 1103.7% 79.83%
10 Yr 1.8%* -0.9% 248.8% 43.89%

* Annualized

Return Ranking - Calendar

Period TFI Return Category Return Low Category Return High Rank in Category (%)
2023 3.0% -1.4% 41.0% 39.95%
2022 -11.8% -39.7% 0.3% 52.78%
2021 -1.4% -5.6% 6.9% 91.00%
2020 3.8% -2.6% 310.0% 3.20%
2019 5.1% 0.0% 26.0% 11.50%

Total Return Ranking - Trailing

Period TFI Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -5.9% 33.6% 93.14%
1 Yr 4.7% -0.3% 37.8% 73.15%
3 Yr -1.4%* -10.7% 3.6% 85.83%
5 Yr 0.3%* -6.8% 1103.7% 79.83%
10 Yr 1.8%* -0.9% 248.8% 43.89%

* Annualized

Total Return Ranking - Calendar

Period TFI Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -1.3% 41.0% 52.30%
2022 -10.2% -39.7% 1.1% 61.04%
2021 0.3% -4.8% 23761504.0% 81.99%
2020 6.0% -1.5% 17057.9% 6.88%
2019 7.0% 0.2% 3514.6% 35.93%

TFI - Holdings

Concentration Analysis

TFI Category Low Category High TFI % Rank
Net Assets 3.62 B 3.22 M 71.9 B 10.07%
Number of Holdings 1483 4 13418 5.26%
Net Assets in Top 10 178 M -317 M 3.09 B 24.58%
Weighting of Top 10 5.04% 1.8% 100.3% 98.00%

Top 10 Holdings

  1. UNIV OF CALIFORNIA CA REVENUES 0.93%
  2. NEW YORK NY 0.57%
  3. UNIV OF CALIFORNIA CA REVENUES 0.48%
  4. NEW YORK NY 0.46%
  5. SALT RIVER AZ PROJ AGRIC IMPT PWR DIST ELEC SYS REVENUE 0.46%
  6. CALIFORNIA ST 0.45%
  7. MASSACHUSETTS ST 0.44%
  8. WASHINGTON ST 0.43%
  9. NEW YORK ST THRUWAY AUTH PERSONAL INCOME TAX REVENUE 0.41%
  10. MASSACHUSETTS ST 0.41%

Asset Allocation

Weighting Return Low Return High TFI % Rank
Bonds 		100.22% 0.00% 150.86% 19.71%
Cash 		0.52% -50.86% 44.62% 67.22%
Stocks 		0.00% 0.00% 99.78% 98.80%
Preferred Stocks 		0.00% 0.00% 0.07% 97.80%
Other 		0.00% -3.69% 51.88% 91.87%
Convertible Bonds 		0.00% 0.00% 0.93% 97.79%

Bond Sector Breakdown

Weighting Return Low Return High TFI % Rank
Municipal 		98.62% 44.39% 100.00% 47.16%
Cash & Equivalents 		0.52% 0.00% 44.41% 38.37%
Derivative 		0.00% -3.69% 51.88% 91.07%
Securitized 		0.00% 0.00% 5.93% 98.13%
Corporate 		0.00% 0.00% 9.41% 98.33%
Government 		0.00% 0.00% 52.02% 97.99%

Bond Geographic Breakdown

Weighting Return Low Return High TFI % Rank
US 		100.22% 0.00% 142.23% 18.92%
Non US 		0.00% 0.00% 23.89% 97.80%

TFI - Expenses

Operational Fees

TFI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.23% 0.01% 8.02% 96.80%
Management Fee 0.23% 0.00% 1.20% 8.59%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

TFI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

TFI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TFI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 9.00% 0.00% 283.00% 18.30%

TFI - Distributions

Dividend Yield Analysis

TFI Category Low Category High TFI % Rank
Dividend Yield 3.03% 0.00% 14.51% 61.05%

Dividend Distribution Analysis

TFI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

TFI Category Low Category High TFI % Rank
Net Income Ratio 1.84% -0.53% 5.33% 56.91%

Capital Gain Distribution Analysis

TFI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

TFI - Fund Manager Analysis

Managers

Timothy Ryan

Start Date

Tenure

Tenure Rank

Sep 11, 2007

14.73

14.7%

Timothy T. Ryan, CFA, is a Managing Director and Portfolio Manager at Nuveen Asset Management. Mr. Ryan joined an affiliate of Nuveen Asset Management in 2010. Prior to joining Nuveen Asset Management, Mr. Ryan was a principal of SSGA FM and a Vice President of SSGA and responsible for managing the series of the Trust that invest primarily in municipal securities. Prior to joining SSGA, Mr. Ryan was a lead portfolio manager in the municipal bond group at Deutsche Bank Asset Management, formally Scudder Insurance Asset Management. His clients included nuclear decommissioning trusts, insurance portfolios and corporate cash. Mr. Ryan began working at Deutsche Bank in 1991 as a municipal bond analyst covering high yield, transportation, higher education, general obligation, and money market sectors. He joined Deutsche Bank with 8 years of experience as vice president and investment banker at Mesirow Financial and vice president and financial consultant at Speer Financial. Mr. Ryan has a BS from University of Wisconsin and a Master of Management from JL Kellogg Graduate School of Management Northwestern University. Mr. Ryan has earned the Chartered Financial Analyst designation.

Joel Levy

Start Date

Tenure

Tenure Rank

Oct 31, 2021

0.58

0.6%

Teachers Advisors, Inc., TCIM and other advisory affiliates of TIAA—2011 to Present (municipal bond research), Bank of America—2010 to 2011 (credit research)

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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