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Name

As of 11/20/2024

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 Bloomberg Investment Grade Floating Rate ETF

FLRN | ETF

$30.80

$2.47 B

5.59%

$1.72

0.15%

Vitals

YTD Return

5.7%

1 yr return

6.6%

3 Yr Avg Return

4.5%

5 Yr Avg Return

3.0%

Net Assets

$2.47 B

Holdings in Top 10

11.8%

52 WEEK LOW AND HIGH

$30.8
$30.49
$30.88

Expenses

OPERATING FEES

Expense Ratio 0.15%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 41.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/20/2024

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 Bloomberg Investment Grade Floating Rate ETF

FLRN | ETF

$30.80

$2.47 B

5.59%

$1.72

0.15%

FLRN - Profile

Distributions

  • YTD Total Return 5.7%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.52%
DIVIDENDS
  • Dividend Yield 5.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SPDR Bloomberg Investment Grade Floating Rate ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Nov 30, 2011
  • Shares Outstanding
    110500000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher DiStefano

Fund Description

In seeking to track the performance of the Bloomberg U.S. Dollar Floating Rate Note ˂ 5 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, SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment 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 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 Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Index. 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 the Adviser) 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 measure the performance of U.S. dollar-denominated, investment grade floating rate notes. Securities in the Index must have a remaining maturity of greater than or equal to one month and less than five years, and have $300 million or more of outstanding face value. In addition, securities in the Index must be rated investment grade (Baa3, BBB- or BBB- by Moody's Investors Service (“Moody's”), S&P Global Ratings or Fitch Ratings Inc., respectively). The Index consists of debt instruments that pay a variable coupon rate with a fixed spread. The Index may include U.S. registered, dollar denominated bonds of non-U.S. corporations, governments and supranational entities, as well as securities that are subject to restrictions on resale under the U.S. federal securities laws (“restricted securities”). Excluded from the Index are fixed rate bullet bonds, fixed-rate puttable and fixed-rate callable bonds, fixed rate and fixed to floating capital securities, bonds with equity-linked features (e.g. warrants and convertibles), inflation linked bonds and securitized bonds. The Index is market capitalization weighted and the securities in the Index are updated on the last calendar day of each month. As of August 31, 2024, a significant portion of the Fund comprised companies in the financial sector, although this may change from time to time. As of July 31, 2024, there were 364 securities in the Index.The Index is sponsored by Bloomberg Index Services Limited (the “Index Provider”), which is not affiliated with the Fund or the 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.
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FLRN - Performance

Return Ranking - Trailing

Period FLRN Return Category Return Low Category Return High Rank in Category (%)
YTD 5.7% -0.6% 7.6% 16.43%
1 Yr 6.6% 1.8% 9.2% 18.78%
3 Yr 4.5%* -1.3% 6.9% 6.34%
5 Yr 3.0%* -0.9% 4.7% 10.00%
10 Yr 2.4%* -4.2% 27.9% 14.88%

* Annualized

Return Ranking - Calendar

Period FLRN Return Category Return Low Category Return High Rank in Category (%)
2023 0.7% -2.3% 4.3% 72.30%
2022 -0.7% -6.5% 0.5% 16.99%
2021 0.0% -2.1% 0.3% 10.50%
2020 -0.5% -3.1% 1.8% 88.02%
2019 1.2% -1.2% 6.1% 12.09%

Total Return Ranking - Trailing

Period FLRN Return Category Return Low Category Return High Rank in Category (%)
YTD 5.7% -0.6% 7.6% 16.43%
1 Yr 6.6% 1.8% 9.2% 18.78%
3 Yr 4.5%* -1.3% 6.9% 6.34%
5 Yr 3.0%* -0.9% 4.7% 10.00%
10 Yr 2.4%* -4.2% 27.9% 14.88%

* Annualized

Total Return Ranking - Calendar

Period FLRN Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% 0.8% 12.1% 17.37%
2022 1.3% -5.1% 2.5% 5.83%
2021 0.4% -2.1% 14.5% 22.50%
2020 0.8% -1.0% 3.6% 86.98%
2019 4.0% 0.3% 9.6% 10.44%

FLRN - Holdings

Concentration Analysis

FLRN Category Low Category High FLRN % Rank
Net Assets 2.47 B 26.6 K 22.6 B 29.11%
Number of Holdings 349 2 1258 42.25%
Net Assets in Top 10 295 M 27.7 K 22.7 B 38.97%
Weighting of Top 10 11.81% 6.3% 159.6% 81.22%

Top 10 Holdings

  1. International Bank for Reconstruction Development 1.68%
  2. International Bank for Reconstruction Development 1.51%
  3. European Bank for Reconstruction Development 1.32%
  4. International Bank for Reconstruction Development 1.28%
  5. State Street Institutional Liquid Reserves Fund 1.13%
  6. International Bank for Reconstruction Development 1.11%
  7. Inter-American Development Bank 1.02%
  8. Inter-American Development Bank 0.99%
  9. International Bank for Reconstruction Development 0.88%
  10. Inter-American Development Bank 0.88%

Asset Allocation

Weighting Return Low Return High FLRN % Rank
Bonds 		98.42% 0.00% 129.63% 13.62%
Convertible Bonds 		12.47% 0.00% 15.25% 3.77%
Cash 		1.82% 0.00% 112.72% 75.59%
Stocks 		0.00% 0.00% 97.16% 99.53%
Preferred Stocks 		0.00% 0.00% 0.00% 99.53%
Other 		0.00% -13.48% 99.96% 93.43%

Bond Sector Breakdown

Weighting Return Low Return High FLRN % Rank
Corporate 		78.49% 0.00% 99.91% 4.25%
Government 		14.82% 0.00% 100.00% 20.28%
Cash & Equivalents 		1.82% 0.00% 112.72% 67.14%
Derivative 		0.00% -13.48% 16.56% 78.40%
Securitized 		0.00% 0.00% 100.00% 100.00%
Municipal 		0.00% 0.00% 70.39% 100.00%

Bond Geographic Breakdown

Weighting Return Low Return High FLRN % Rank
US 		98.42% 0.00% 129.63% 12.68%
Non US 		0.00% 0.00% 20.18% 99.53%

FLRN - Expenses

Operational Fees

FLRN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.15% 0.08% 29.63% 96.67%
Management Fee 0.15% 0.00% 1.19% 12.21%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

FLRN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

FLRN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

FLRN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 41.00% 0.00% 336.00% 18.44%

FLRN - Distributions

Dividend Yield Analysis

FLRN Category Low Category High FLRN % Rank
Dividend Yield 5.59% 0.00% 8.76% 7.98%

Dividend Distribution Analysis

FLRN Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FLRN Category Low Category High FLRN % Rank
Net Income Ratio 0.52% -1.30% 14.86% 46.83%

Capital Gain Distribution Analysis

FLRN Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

FLRN - Fund Manager Analysis

Managers

Christopher DiStefano

Start Date

Tenure

Tenure Rank

Oct 31, 2013

8.59

8.6%

Christopher DiStefano is a Vice President of SSGA and a Portfolio Manager in the Fixed Income Beta Solutions Group within the Fixed Income, Cash and Currency Team. He joined the firm in 2010 and is responsible for managing several funds and ETFs within the investment-grade credit, government/credit, and short duration sectors. Prior to his current role, Mr. DiStefano was a member of the Global Graduate Rotational Program at SSGA, a two year cross-functional program engineered to provide candidates with a diverse skill set and a broad perspective. Previously, Mr. DiStefano worked as an engineer within the real estate development and transportation industries. Mr. DiStefano holds a Master of Business Administration from the Carroll School of Management at Boston College, and a Master of Science and Bachelor of Science in Civil Engineering from the University of Illinois and Union College, respectively.

Kyle Kelly

Start Date

Tenure

Tenure Rank

Oct 31, 2014

7.59

7.6%

Kyle Kelly, CFA, FRM, is a Vice President of SSGA and a Portfolio Manager in the Fixed Income Beta Solutions Group where he manages high yield and investment grade credit ETFs and separate accounts since 2012. Prior to joining the portfolio management team, he worked as an investment risk management analyst focused on SSGA's fixed income and multi-asset-class products. Mr. Kelly graduated from Boston College with a Bachelor of Arts in Communication and Economics. He earned the Chartered Financial Analyst (CFA) designation and the Financial Risk Manager (FRM) designation. He is a member of the CFA Institute, CFA Society Boston, Inc., and the Global Association of Risk Professionals. He began his investment career in 2007 and has a BA from Boston College.

Frank Miethe

Start Date

Tenure

Tenure Rank

Jan 29, 2018

4.34

4.3%

Frank Miethe, CFA, is a Vice President of SSGA and a Portfolio Manager on the Passive Fixed Income Team. Mr. Miethe joined SSGA in 2010 and has been part of the Portfolio Management team since 2013. He is currently responsible for managing several funds and ETFs within the Investment Grade Credit and Government/Credit sectors. Prior to his role at SSGA, Mr. Miethe worked at State Street Corporation as a Fund Accountant and a Client Operations Associate. He received his Bachelor's Degree from Western New England University and an MBA from Suffolk University. He has earned the Chartered Financial Analyst designation and is a member of the CFA Institute and Boston Security Analysts Society.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.52 7.92

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