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SPDR® Bloomberg Investment Grade Floating Rate ETF FLRN

NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$30.75
as of Feb 22 2024
Base Currency
USD
Assets Under Management
$2,293.93 M
as of Feb 22 2024
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.15%

Key Features

  • The SPDR® Bloomberg Investment Grade Floating Rate ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index (the "Index")
  • Seeks to provide exposure to debt instruments that pay a variable coupon rate, a majority of which are based on 3-month SOFR, with a fixed spread
  • Securities in the Index must have a remaining maturity of more than or equal to one month and less than five years, and $300 million or more of outstanding face value
  • Rebalanced on the last business day of the month

About this Benchmark

The Bloomberg U.S. Dollar Floating Rate Note < 5 Years 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. 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.

Fund Information as of Feb 24 2024

Benchmark Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index
Inception Date Nov 30 2011
Options Available No
Gross Expense Ratio

Gross Expense Ratio

The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.15%
Base Currency USD
Administrator State Street Global Advisors Funds Management Inc.
Investment Manager SSGA Funds Management, Inc.
Management Team Global Fixed Income, Cash and Currency
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Monthly

Listing Information as of Feb 24 2024

Exchange Listing Date Trading Currency Ticker CUSIP ISIN
NYSE ARCA EXCHANGE Dec 01 2011 USD FLRN 78468R200 US78468R2004

Fund Characteristics as of Feb 22 2024

Number of Holdings 342
Average Coupon

Average Coupon

The [market value] weighted average coupon of the bonds in a portfolio.

6.05%
Average Maturity in Years

Average Maturity

The market value-weighted average maturity of the bonds and loans in a portfolio, where maturity is defined as the stated final for bullet maturity bonds and loans.

1.82
Average Price $99.49
Average Yield To Worst

The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

5.88%
Option Adjusted Duration

Option Adjusted Duration

An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

0.03 years
Option Adjusted Spread 48.72
Yield to Maturity

Yield to Maturity

The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

5.91%

Index Characteristics as of Feb 22 2024

Number of Holdings 338
Average Coupon 6.11%
Average Maturity in Years 1.83
Average Price $100.32
Average Yield To Worst 5.88%
Option Adjusted Duration 0.03 years
Option Adjusted Spread 49.27
Yield to Maturity 5.92%

Yields as of Feb 22 2024

30 Day SEC Yield

30 Day SEC Yield

(Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

5.85%
30 Day SEC Yield (Unsubsidized)

30 Day SEC Yield (Unsubsidized)

An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price that does not account for expense ratio waivers.

-
Fund Distribution Yield

Fund Distribution Yield

The sum of the most recent 12 distributions within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

5.64%

Fund Market Price as of Feb 22 2024

Bid/Ask

Bid/Ask Mid Point

(Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given security.

$30.78
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$30.78
Day High $30.78
Day Low $30.77
Exchange Volume (Shares)

Exchange Volume (shares)

Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.

48,005
Premium/Discount

Premium/Discount to NAV

Shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask - Closing NAV) / Closing NAV * 100)

0.08%
30-Day Median Bid/Ask Spread

The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.

0.03%

Premium Discount to NAV Graph and Summary

The line graph and table below show historical information about the differences between the daily closing price for shares of the fund (as determined by the fund’s listing exchange) and the fund’s net asset value over certain periods. The vertical axis of the line graph shows the premium/discount expressed as a percentage of NAV. The horizontal axis indicates the date at which the premium/discount occurred. The table shows the number of trading days in which the fund traded at a premium or at a discount to NAV.

Number of Days Summary

Calendar Year 2023
Days Traded at Premium

Number of days the ETF 4PM Bid/Ask was above the NAV.

217
Days Traded at Discount

Number of days the ETF 4PM Bid/Ask was below the NAV.

33

Because ETFs trade like stocks at current market prices, shareholders may pay more than a fund’s NAV when purchasing fund shares and may receive less than a fund’s NAV when selling fund shares.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

Fund Net Cash Amount as of Feb 22 2024

Net Cash Amount $11,260,241.41

Fund Net Asset Value as of Feb 22 2024

NAV

NAV

The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

$30.75
Shares Outstanding 74.60 M
Assets Under Management $2,293.93 M

Fund Performance

  • Fund Inception Date: Nov 30 2011

as of Jan 31 2024

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Nov 30 2011
Fund Before Tax
NAV Jan 31 2024 0.64% 0.64% 0.64% 6.38% 2.85% 2.53% 1.90% 1.92%
Market Value Jan 31 2024 0.52% 0.52% 0.52% 6.29% 2.82% 2.53% 1.90% 1.92%
Benchmark
Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index
Jan 31 2024 0.63% 0.63% 0.63% 6.47% 3.01% 2.76% 2.11% 2.15%
Fund After Tax
Return after Taxes on Distributions Jan 31 2024 0.64% 0.64% 0.64% 3.95% 1.73% 1.53% 1.13% 1.22%
Return after Taxes on Distributions and Sale of Fund Shares Jan 31 2024 0.38% 0.38% 0.38% 3.73% 1.70% 1.50% 1.12% 1.17%
Benchmark
Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index
Jan 31 2024 0.63% 0.63% 0.63% 6.47% 3.01% 2.76% 2.11% 2.15%

as of Dec 31 2023

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Nov 30 2011
Fund Before Tax
NAV Dec 31 2023 0.57% 1.56% 6.63% 6.63% 2.67% 2.53% 1.84% 1.88%
Market Value Dec 31 2023 0.61% 1.58% 6.53% 6.53% 2.71% 2.59% 1.82% 1.89%
Benchmark
Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index
Dec 31 2023 0.58% 1.60% 6.70% 6.70% 2.84% 2.78% 2.06% 2.11%
Fund After Tax
Return after Taxes on Distributions Dec 31 2023 0.16% 0.74% 4.19% 4.19% 1.55% 1.53% 1.07% 1.17%
Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2023 0.34% 0.92% 3.89% 3.89% 1.56% 1.51% 1.07% 1.14%
Benchmark
Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index
Dec 31 2023 0.58% 1.60% 6.70% 6.70% 2.84% 2.78% 2.06% 2.11%

Past performance is not a reliable indicator of future performance. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment.  All results are historical and assume the reinvestment of dividends and capital gains. It is not possible to invest directly in an index.

Performance returns for periods of less than one year are not annualized.  Performance is shown net of fees.

Index returns are unmanaged and do not reflect the deduction of any fees or expenses. Index returns reflect all items of income, gain and loss and the reinvestment of dividends and other income as applicable.

The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.

Gross Expense Ratio: 0.15%

Top Holdings

Subject to change.

as of Feb 22 2024
as of Feb 22 2024

Fund Top Holdings as of Feb 22 2024

Name Market Value ISIN Weight
INTL BK RECON + DEVELOP SR UNSECURED 08/27 VAR 41,308,771.20 US459058JF11 1.81%
INTL BK RECON + DEVELOP SR UNSECURED 01/27 VAR 38,144,744.50 US459058KN26 1.67%
EUROPEAN BK RECON + DEV UNSECURED 04/26 VAR 33,295,334.80 US29874QEN07 1.46%
INTL BK RECON + DEVELOP SR UNSECURED 09/26 VAR 31,956,144.00 US459058KK86 1.40%
STATE STREET INSTITUTIONAL LIQ 29,636,065.97 - 1.30%
INTL BK RECON + DEVELOP SR UNSECURED 09/25 VAR 27,999,751.00 US459058JJ33 1.23%
INTER AMERICAN DEVEL BK SR UNSECURED 02/26 VAR 27,239,827.60 US4581X0DT22 1.19%
INTER AMERICAN DEVEL BK SR UNSECURED 09/26 VAR 24,263,389.56 US4581X0DY17 1.06%
ASIAN DEVELOPMENT BANK SR UNSECURED 06/26 VAR 21,831,914.50 US04517PBE16 0.96%
KOMMUNALBANKEN AS SR UNSECURED 144A 06/26 VAR 20,836,831.76 US50048MDE75 0.91%

Index Top Holdings as of Feb 22 2024

Name ISIN Weight
INTL BK RECON & DEVELOP 5.7652 08/19/2027 US459058JF11 1.43%
EUROPEAN BK RECON & DEV 5.53 04/14/2026 US29874QEN07 1.42%
INTL BK RECON & DEVELOP 5.7106 01/12/2027 US459058KN26 1.31%
INTL BK RECON & DEVELOP 5.6606 09/23/2026 US459058KK86 1.13%
INTL BK RECON & DEVELOP 5.6619 09/18/2025 US459058JJ33 1.03%
INTER-AMERICAN DEVEL BK 5.5219 09/16/2026 US4581X0DY17 1.03%
International Bank for Reconstruction & Development 5.6392 01/24/2029 US459058KH57 1.02%
INTL BK RECON & DEVELOP 5.625 11/22/2028 US459058KD44 1.01%
KOMMUNALBANKEN AS 6.3519 06/17/2026 US50048MDE75 0.96%
INTER-AMERICAN DEVEL BK 5.5349 02/10/2026 US4581X0DT22 0.92%

Sector Allocation

as of Feb 22 2024
as of Feb 22 2024

Fund Sector Breakdown as of Feb 22 2024

Sector Weight
Corporate - Finance 57.12%
Non Corporates - Supranationals 23.09%
CORPORATE - INDUSTRIAL 13.06%
Non Corporates - Foreign Agency 4.54%
Corporate - Utility 1.36%
Cash 0.84%

Index Sector Breakdown as of Feb 22 2024

Sector Weight
Corporate - Finance 58.68%
Non Corporates - Supranationals 22.52%
CORPORATE - INDUSTRIAL 12.57%
Non Corporates - Foreign Agency 4.85%
Corporate - Utility 1.38%

Quality Breakdown

as of Feb 22 2024
as of Feb 22 2024

Fund Quality Breakdown as of Feb 22 2024

Name Weight
AAA 29.14%
AA1 1.86%
AA2 2.53%
AA3 13.66%
A1 18.96%
A2 17.09%
A3 9.92%
BAA1 3.91%
BAA2 2.40%
BAA3 0.26%
Not Rated 0.26%

Index Quality Breakdown as of Feb 22 2024

Name Weight
AAA 28.16%
AA1 1.95%
AA2 2.91%
AA3 13.85%
A1 18.69%
A2 18.09%
A3 9.87%
BAA1 4.03%
BAA2 2.29%
BAA3 0.15%

Maturity Ladder

as of Feb 22 2024
as of Feb 22 2024

Fund Maturity Ladder as of Feb 22 2024

Name Weight
0 - 1 Year 26.38%
1 - 2 Years 27.95%
2 - 3 Years 29.87%
3 - 5 Years 15.79%

Index Maturity Ladder as of Feb 22 2024

Name Weight
0 - 1 Year 24.43%
1 - 2 Years 28.90%
2 - 3 Years 31.28%
3 - 5 Years 15.38%

Purchase Information

Buying and Selling ETFs

ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.

ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

Ordinary brokerage commissions may apply.

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future.

Unless otherwise noted all information contained herein is that of the SPDR® Bloomberg Investment Grade Floating Rate ETF.

As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.

"Bloomberg®" and Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the index (collectively, "Bloomberg") and have been licensed for use for certain purposes by State Street Global Advisors. Bloomberg is not affiliated with State Street Global Advisors, and Bloomberg does not approve, endorse, review, or recommend SPDR Bloomberg Investment Grade Floating Rate ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to SPDR Bloomberg Investment Grade Floating Rate ETF.

Prior to 10/31/2021, the SPDR Bloomberg Investment Grade Floating Rate ETF was known as the SPDR Bloomberg Barclays Investment Grade Floating Rate ETF.

Prior to 8/24/2021, the Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index was known as the Bloomberg Barclays U.S. Dollar Floating Rate Note < 5 Years Index.