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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 High Yield Municipal Bond ETF

HYMB | ETF

$25.97

$2.59 B

4.20%

$1.09

0.35%

Vitals

YTD Return

6.4%

1 yr return

10.9%

3 Yr Avg Return

-0.8%

5 Yr Avg Return

1.2%

Net Assets

$2.59 B

Holdings in Top 10

9.3%

52 WEEK LOW AND HIGH

$26.0
$24.41
$26.31

Expenses

OPERATING FEES

Expense Ratio 0.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

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 High Yield Municipal Bond ETF

HYMB | ETF

$25.97

$2.59 B

4.20%

$1.09

0.35%

HYMB - Profile

Distributions

  • YTD Total Return 6.4%
  • 3 Yr Annualized Total Return -0.8%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.49%
DIVIDENDS
  • Dividend Yield 4.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SPDR® Nuveen Bloomberg High Yield Municipal Bond ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Apr 13, 2011
  • Shares Outstanding
    34500000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Timothy Ryan

Fund Description

In seeking to track the performance of the Bloomberg Municipal Yield 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 market value-weighted and designed to measure the performance of U.S. dollar-denominated high-yield municipal bonds issued by U.S. states, the District of Columbia, U.S. territories and local governments or agencies. The Index includes fully tax-exempt investment grade, non-investment grade (“junk”) and non-rated bonds, but does not include defaulted securities. Bonds included in the Index may include private activity bonds, which are typically issued by or on behalf of local or state governments for the purpose of financing the project of a private user. The Index consists of bonds that are constituents of the Bloomberg Municipal High Yield Bond Index and Bloomberg U.S. Municipal Bond Index as follows: (i) 70% of the Index is represented by the constituents of the Bloomberg Municipal High Yield Bond Index, the constituents of which are non-rated or rated no higher than Ba1 by Moody's Investors Service, Inc. (“Moody's”) or BB+ by Standard & Poor's (“S&P”) or Fitch Ratings Inc. (“Fitch”); (ii) 20% of the Index is represented by the constituents of the Bloomberg U.S. Municipal Bond Index that are rated Baa3, Baa2, or Baa1 by Moody's or BBB-, BBB, or BBB+ by S&P or Fitch; and (iii) 10% of the Index is represented by the constituents of the Bloomberg U.S. Municipal Bond Index that are rated A3, A2, or A1 by Moody's or A-, A, or A+ by S&P or Fitch. Constituents of the Bloomberg Municipal High Yield Bond Index must have a total amount outstanding of $3 million or more and be issued as part of a transaction of at least $20 million. Constituents of the Bloomberg U.S. Municipal Bond Index must have a total amount outstanding of $7 million or more and be issued as part of a transaction of at least $75 million. Only fixed-rate coupon bonds (including zero coupon bonds) with a remaining maturity of at least one year and a dated date of January 1, 1991 or later are eligible for inclusion in the Index. Securities included in the Index may include when-issued securities, as well as securities that are subject to restrictions on resale under the U.S. federal securities laws (“restricted securities”). The securities in the Index rebalance on the last business day of each month. As of July 31, 2024, there were 18,497 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.
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HYMB - Performance

Return Ranking - Trailing

Period HYMB Return Category Return Low Category Return High Rank in Category (%)
YTD 6.4% -2.2% 12.5% 26.96%
1 Yr 10.9% 0.9% 19.5% 41.67%
3 Yr -0.8%* -8.8% 3.0% 51.24%
5 Yr 1.2%* -5.0% 3.7% 56.85%
10 Yr 3.1%* -0.4% 155.6% 41.86%

* Annualized

Return Ranking - Calendar

Period HYMB Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -6.2% 7.5% 35.78%
2022 -18.5% -26.9% -3.5% 68.66%
2021 1.8% -1.9% 5.6% 64.65%
2020 0.0% -4.0% 4.2% 61.42%
2019 5.2% -0.7% 9.1% 45.55%

Total Return Ranking - Trailing

Period HYMB Return Category Return Low Category Return High Rank in Category (%)
YTD 6.4% -2.2% 12.5% 26.96%
1 Yr 10.9% 0.9% 19.5% 41.67%
3 Yr -0.8%* -8.8% 3.0% 51.24%
5 Yr 1.2%* -5.0% 3.7% 56.85%
10 Yr 3.1%* -0.4% 155.6% 41.86%

* Annualized

Total Return Ranking - Calendar

Period HYMB Return Category Return Low Category Return High Rank in Category (%)
2023 7.7% -4.1% 10.9% 35.78%
2022 -15.5% -26.9% 4.3% 73.13%
2021 5.2% -1.9% 10.0% 58.59%
2020 3.7% -2.6% 8.2% 42.13%
2019 9.5% -0.7% 1028633.9% 28.27%

HYMB - Holdings

Concentration Analysis

HYMB Category Low Category High HYMB % Rank
Net Assets 2.59 B 9.79 K 15.6 B 33.17%
Number of Holdings 1874 1 3325 11.94%
Net Assets in Top 10 249 M -102 M 3.51 B 38.31%
Weighting of Top 10 9.27% 4.6% 98.8% 85.00%

Top 10 Holdings

  1. PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE 2.02%
  2. BUCKEYE OH TOBACCO SETTLEMENT FING AUTH 1.68%
  3. PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE 1.25%
  4. PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE 0.79%
  5. PUERTO RICO CMWLTH 0.75%
  6. PUERTO RICO CMWLTH 0.61%
  7. NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE 0.57%
  8. MET PIER EXPOSITION AUTH IL REVENUE 0.57%
  9. NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 0.53%
  10. MATCHING FUND SPL PURPOSE SECURITIZTN CORP 0.50%

Asset Allocation

Weighting Return Low Return High HYMB % Rank
Bonds 		98.48% 0.00% 146.69% 60.78%
Cash 		1.52% -0.64% 100.00% 30.35%
Stocks 		0.00% 0.00% 99.62% 60.29%
Preferred Stocks 		0.00% -47.61% 0.00% 47.76%
Other 		0.00% -5.59% 5.07% 51.74%
Convertible Bonds 		0.00% 0.00% 0.00% 43.28%

Bond Sector Breakdown

Weighting Return Low Return High HYMB % Rank
Municipal 		96.83% 0.00% 100.00% 72.64%
Cash & Equivalents 		0.37% 0.00% 100.00% 31.34%
Derivative 		0.00% -7.53% 2.16% 46.27%
Securitized 		0.00% 0.00% 22.44% 45.77%
Corporate 		0.00% 0.00% 2.83% 70.65%
Government 		0.00% 0.00% 0.09% 46.27%

Bond Geographic Breakdown

Weighting Return Low Return High HYMB % Rank
US 		98.48% 0.00% 139.84% 56.72%
Non US 		0.00% 0.00% 13.35% 47.76%

HYMB - Expenses

Operational Fees

HYMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.35% 0.22% 3.44% 98.03%
Management Fee 0.35% 0.00% 1.41% 7.35%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

HYMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

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

HYMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 2.00% 121.00% 24.87%

HYMB - Distributions

Dividend Yield Analysis

HYMB Category Low Category High HYMB % Rank
Dividend Yield 4.20% 0.00% 5.94% 39.22%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

HYMB Category Low Category High HYMB % Rank
Net Income Ratio 3.49% 1.11% 5.44% 32.35%

Capital Gain Distribution Analysis

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

Distributions History

View More +

HYMB - Fund Manager Analysis

Managers

Timothy Ryan

Start Date

Tenure

Tenure Rank

Apr 13, 2011

11.14

11.1%

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
0.25 21.43 7.55 2.52

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