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Name

As of 04/22/2024

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 Municipal Bond ETF

MBND | Active ETF

$27.26

$48.2 M

2.69%

$0.73

0.40%

Vitals

YTD Return

-0.3%

1 yr return

3.8%

3 Yr Avg Return

-1.2%

5 Yr Avg Return

N/A

Net Assets

$48.2 M

Holdings in Top 10

19.9%

52 WEEK LOW AND HIGH

$27.3
$25.65
$27.64

Expenses

OPERATING FEES

Expense Ratio 0.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/22/2024

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 Municipal Bond ETF

MBND | Active ETF

$27.26

$48.2 M

2.69%

$0.73

0.40%

MBND - Profile

Distributions

  • YTD Total Return -0.3%
  • 3 Yr Annualized Total Return -1.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SPDR Nuveen Municipal Bond ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Feb 03, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Timothy Ryan

Fund Description

In pursuing its investment objective, under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings for investment purposes) in municipal bonds that pay income that is exempt from regular federal income tax.
Nuveen Asset Management, LLC (“Nuveen Asset Management” or the “Sub-Adviser”), the investment sub-adviser to the Fund, anticipates the Fund's investment portfolio will consist primarily of municipal bonds included in the Bloomberg 3-15 Year Blend (2-17) Municipal Bond Index (the “Index”), an index comprising investment-grade municipal securities ranging from 2 to 17 years in maturity. The municipal bonds selected by the Sub-Adviser may include tax-exempt municipal securities issued by states, cities, counties, districts, territories or possessions of the United States and the District of Columbia and their respective subdivisions, agencies, authorities and instrumentalities. Municipal bonds may include state and local general obligation bonds, revenue bonds, pre-refunded bonds, insured bonds and municipal lease obligations. Securities selected by the Sub-Adviser may include when-issued securities. Under normal market conditions, the Fund's investment portfolio will consist primarily of municipal bonds rated A3/A-/A- or higher by an independent rating agency; however the Fund may invest in municipal bonds of any credit quality, including up to 20% of its net assets in low- to medium-quality bonds rated Baa1/BBB+/BBB+ or
lower (or unrated bonds judged by the Sub-Adviser to be of comparable quality), including below investment grade bonds (commonly referred to as “high yield” or “junk” bonds). Under normal circumstances, the Sub-Adviser will target a weighted average duration for the Fund's portfolio between 4.5 – 7 years and a weighted average maturity for the Fund's portfolio between 5 – 12 years.
In selecting securities for the Fund, the Sub-Adviser utilizes a rules-based, value-oriented strategy which is designed to identify higher-yielding and undervalued municipal bonds that offer above-average total return potential. In constructing the Fund's portfolio, the Sub-Adviser may overweight/underweight individual bonds by up to 5% on an absolute basis compared to their weights in the Index, and may overweight/underweight the Fund's sector exposure by up to 10% on an absolute basis compared to the Index's sector exposure. The Sub-Adviser may choose to sell municipal bonds with deteriorating credit and/or limited upside potential compared to other available bonds.
The Fund may also invest in cash and cash equivalents or money market instruments, such as money market funds (including money market funds advised by SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund).
Read More

MBND - Performance

Return Ranking - Trailing

Period MBND Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -86.8% 7.5% 88.53%
1 Yr 3.8% -48.9% 15.3% 60.92%
3 Yr -1.2%* -21.5% 51.9% N/A
5 Yr N/A* -5.9% 29.0% N/A
10 Yr N/A* -3.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period MBND Return Category Return Low Category Return High Rank in Category (%)
2023 2.9% -91.1% 101.7% N/A
2022 -10.1% -79.2% 102.5% N/A
2021 N/A -66.1% 60.0% N/A
2020 N/A -57.4% 7.6% N/A
2019 N/A -35.9% 3.2% N/A

Total Return Ranking - Trailing

Period MBND Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -86.8% 7.5% 91.64%
1 Yr 3.8% -48.9% 15.4% 61.26%
3 Yr -1.2%* -21.5% 51.9% N/A
5 Yr N/A* -5.9% 29.0% N/A
10 Yr N/A* -3.6% 13.3% N/A

* Annualized

Total Return Ranking - Calendar

Period MBND Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -91.1% 101.7% N/A
2022 -8.6% -79.2% 102.5% N/A
2021 N/A -66.1% 60.0% N/A
2020 N/A -57.4% 7.6% N/A
2019 N/A -35.9% 3.2% N/A

MBND - Holdings

Concentration Analysis

MBND Category Low Category High MBND % Rank
Net Assets 48.2 M 2.87 M 73.9 B 95.40%
Number of Holdings 111 1 14000 68.95%
Net Assets in Top 10 9.85 M -317 M 8.64 B 69.77%
Weighting of Top 10 19.88% 2.4% 100.0% 29.14%

Top 10 Holdings

  1. NEW JERSEY ST ECON DEV AUTH REVENUE 2.27%
  2. SOUTHFIELD MI PUBLIC SCHS 2.23%
  3. NEW YORK NY 2.18%
  4. NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE 2.04%
  5. MEDFORD OR HOSP FACS AUTH REVENUE 2.03%
  6. PLATTE CNTY MO SCH DIST PARK HILL 1.92%
  7. HAWAII ST 1.89%
  8. LOUISIANA STADIUM EXPOSITION DIST LA 1.83%
  9. ILLINOIS ST TOLL HIGHWAY AUTH 1.82%
  10. PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE 1.67%

Asset Allocation

Weighting Return Low Return High MBND % Rank
Bonds 		98.89% 0.00% 150.86% 92.02%
Cash 		1.11% -50.86% 100.00% 7.53%
Stocks 		0.00% -0.03% 4.63% 11.91%
Preferred Stocks 		0.00% -1.79% 0.04% 8.86%
Other 		0.00% -13.03% 30.01% 10.14%
Convertible Bonds 		0.00% 0.00% 0.93% 8.95%

Bond Sector Breakdown

Weighting Return Low Return High MBND % Rank
Cash & Equivalents 		0.02% 0.00% 100.00% 7.95%
Derivative 		0.00% 0.00% 21.68% 8.81%
Securitized 		0.00% 0.00% 5.93% 10.23%
Corporate 		0.00% 0.00% 9.99% 24.89%
Municipal 		0.00% 0.00% 100.00% 91.00%
Government 		0.00% 0.00% 52.02% 14.52%

Bond Geographic Breakdown

Weighting Return Low Return High MBND % Rank
US 		98.89% 0.00% 142.23% 84.89%
Non US 		0.00% 0.00% 62.14% 43.15%

MBND - Expenses

Operational Fees

MBND Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.40% 0.02% 3.60% 66.99%
Management Fee 0.40% 0.00% 1.10% 37.98%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

MBND Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 4.90% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

MBND 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.

MBND Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 283.00% N/A

MBND - Distributions

Dividend Yield Analysis

MBND Category Low Category High MBND % Rank
Dividend Yield 2.69% 0.00% 35.27% 22.03%

Dividend Distribution Analysis

MBND Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

MBND Category Low Category High MBND % Rank
Net Income Ratio N/A -0.53% 24.00% 95.39%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MBND - Fund Manager Analysis

Managers

Timothy Ryan

Start Date

Tenure

Tenure Rank

Feb 04, 2021

1.32

1.3%

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 7.21 1.58

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