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SPDR® Nuveen Municipal Bond ETF MBND

NAV
$27.10
as of Mar 29 2023
Base Currency
USD
Assets Under Management
$43.35 M
as of Mar 29 2023
Gross Expense Ratio
0.40%

Key Features


  • Seeks to provide broad exposure to municipal bonds that pay income exempt from federal income taxes
  • Employs a systematic, active approach to identify higher-yielding and undervalued municipal bonds with above-average total return
  • Actively managed by Nuveen, a municipal bond manager experienced in identifying opportunities and mitigating risks in municipal bond investing

About this Benchmark


The Bloomberg 3-15 Year Blend (2-17) Municipal Bond Index (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, insured bonds and municipal lease obligations. The Index is comprised of tax-exempt municipal securities issued by states, cities, counties, districts and their respective agencies, authorities and instrumentalities.


Fund Information as of Mar 30 2023

Benchmark Bloomberg 3-15 Year Blend (2-17) Municipal Bond Index
Inception Date Feb 03 2021
Options Available No
Gross Expense Ratio
0.40%
Base Currency USD
Administrator State Street Global Advisors Funds Management Inc.
Sub-advisor Nuveen Asset Management, LLC
Investment Manager SSGA Funds Management, Inc.
Distributor State Street Global Advisors Funds Distributors, LLC
Distribution Frequency Monthly

Listing Information as of Mar 30 2023

Exchange Listing Date Trading Currency Ticker CUSIP ISIN
Cboe BZX Exchange, Inc Feb 04 2021 USD MBND 78470P705 US78470P7050

Fund Characteristics as of Mar 29 2023

Number of Holdings 97
Average Coupon
4.58%
Average Maturity in Years
5.94
Average Price $102.10
Average Yield To Worst
3.51%
Option Adjusted Duration
4.57 years
Option Adjusted Spread 4.30
Yield to Maturity
3.97%

Index Characteristics as of Mar 29 2023

Number of Holdings 39,981
Average Maturity in Years 5.48
Average Price $105.91
Average Yield To Worst 2.90%
Option Adjusted Duration 4.81 years
Option Adjusted Spread 4.60
Yield to Maturity 3.42%

Yields as of Mar 28 2023

30 Day SEC Yield
3.04%
30 Day SEC Yield (Unsubsidized)
-
Fund Distribution Yield
1.85%

Fund Market Price as of Mar 29 2023

Bid/Ask
$27.08
Closing Price
$27.08
Day High -
Day Low -
Exchange Volume (Shares)
0
Premium/Discount
-0.08%
30-Day Median Bid/Ask Spread
0.19%

Premium Discount to NAV Graph and Summary

Number of Days Summary

Calendar Year 2022
Days Traded at Premium
170
Days Traded at Discount
81

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 Mar 29 2023

Net Cash Amount $2,027,669.30

Fund Net Asset Value as of Mar 29 2023

NAV
$27.10
Shares Outstanding 1.60 M
Assets Under Management $43.35 M

Fund Performance

  • Fund Inception Date: Feb 03 2021

as of Feb 28 2023

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Feb 03 2021
Fund Before Tax
NAV Feb 28 2023 -1.92% 0.45% 0.45% -4.96% - - - -3.81%
Market Value Feb 28 2023 -1.91% 0.33% 0.33% -4.97% - - - -3.79%
Benchmark
Feb 28 2023 -1.99% 0.36% 0.36% -3.24% -1.02% 1.82% 2.04% -2.82%
Fund After Tax
Return after Taxes on Distributions Feb 28 2023 -2.00% 0.36% 0.36% -5.08% - - - -4.01%
Return after Taxes on Distributions and Sale of Fund Shares Feb 28 2023 -1.13% 0.26% 0.26% -2.38% - - - -2.70%
Benchmark
Feb 28 2023 -1.99% 0.36% 0.36% -3.24% -1.02% 1.82% 2.04% -2.82%

as of Dec 31 2022

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Feb 03 2021
Fund Before Tax
NAV Dec 31 2022 0.12% 3.45% -8.78% -8.78% - - - -4.35%
Market Value Dec 31 2022 0.13% 3.58% -8.61% -8.61% - - - -4.27%
Benchmark
Dec 31 2022 0.53% 3.85% -6.42% -6.42% -0.26% 1.48% 2.06% -3.24%
Fund After Tax
Return after Taxes on Distributions Dec 31 2022 0.11% 3.43% -8.81% -8.81% - - - -4.52%
Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2022 0.22% 2.33% -4.63% -4.63% - - - -3.07%
Benchmark
Dec 31 2022 0.53% 3.85% -6.42% -6.42% -0.26% 1.48% 2.06% -3.24%

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: 0.40%


Top Holdings

Fund Top Holdings as of Mar 29 2023

Name Market Value ISIN Weight
US DOLLAR 1,520,145.00 - 3.51%
NJSDEV 5.000 06/15/31 1,129,728.00 US64577B7F54 2.61%
FLSTRN 5.000 07/01/25 1,066,097.00 US34160DAS53 2.46%
NYC 4.000 08/01/37 1,028,229.00 US64966QXQ80 2.37%
MFDMED 5.000 08/15/32 1,018,790.00 US584283GQ21 2.35%
NMSMED 4.000 08/01/39 996,268.00 US647370HV06 2.30%
HIS 5.000 10/01/27 984,156.00 US419792CF13 2.27%
PLASCD 3.000 03/01/32 962,963.00 US727730HW67 2.22%
UNVMED 5.000 04/01/24 927,554.00 US915260BX04 2.14%
ILSTRN 5.000 01/01/36 921,081.00 US452252JF77 2.12%
Download All Holdings: Daily

Sector Allocation

as of Mar 29 2023
as of Mar 29 2023

Fund Sector Breakdown as of Mar 29 2023

Sector Weight
Muni Transportation 22.86%
Muni Local 16.70%
Muni Health Care 10.49%
Muni State 9.72%
Muni Special Tax 9.42%
Muni Water & Sewer 7.07%
Muni Leasing 6.45%
Muni Industrial Revenue 6.22%
Muni Education 5.38%
Not Classified 3.51%
Muni Power 1.82%
Muni Housing 0.37%

Index Sector Breakdown as of Mar 29 2023

Sector Weight
Muni State 16.92%
Muni Local 16.41%
Muni Transportation 15.01%
Muni Special Tax 10.38%
Muni Water & Sewer 8.77%
Muni Leasing 7.86%
Muni Health Care 6.89%
Muni Education 5.90%
Muni Industrial Revenue 5.77%
Muni Power 4.57%
Muni Housing 1.52%
Muni Solid Waste/Res Recovery 0.01%

Quality Breakdown

as of Mar 29 2023
as of Mar 29 2023

Fund Quality Breakdown as of Mar 29 2023

Name Weight
Aaa 13.73%
Aa 44.22%
A 30.70%
Baa 4.77%
Ba 3.54%
NR 3.04%

Index Quality Breakdown as of Mar 29 2023

Name Weight
Aaa 17.39%
Aa 54.74%
A 22.33%
Baa 5.54%

Maturity Ladder

as of Mar 29 2023
as of Mar 29 2023

Fund Maturity Ladder as of Mar 29 2023

Name Weight
0 - 1 Year 7.82%
1 - 3 Years 9.63%
3 - 5 Years 13.85%
5 - 7 Years 8.20%
7 - 10 Years 16.22%
10 - 15 Years 25.01%
15 - 20 Years 12.80%
20 - 25 Years 0.19%
25 - 30 Years 4.43%
> 30 Years 1.85%

Index Maturity Ladder as of Mar 29 2023

Name Weight
1 - 2 Years 0.23%
2 - 3 Years 9.58%
3 - 5 Years 16.74%
5 - 7 Years 15.08%
7 - 10 Years 20.17%
Not Classified 38.21%

Top Ten States

Fund Top Ten States as of Mar 29 2023

Name Weight
ILLINOIS-IL 9.24%
CALIFORNIA-CA 9.04%
PENNSYLVANIA-PA 6.73%
TEXAS-TX 6.30%
FLORIDA-FL 6.29%
OREGON-OR 4.14%
MISSOURI-MO 3.90%
WASHINGTON-WA 3.84%
WISCONSIN-WI 3.83%
MASSACHUSETTS-MA 3.68%

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® Nuveen Municipal Bond ETF.

State Street Global Advisors Funds Distributors, LLC is the distributor for some registered products on behalf of the advisor. SSGA Funds Management, Inc. has retained Nuveen Asset Management as the sub-advisor. State Street Global Advisors Funds Distributors, LLC is not affiliated with Nuveen Asset Management.

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 3-15 Year Blend (2-17) Municipal Bond 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® Nuveen Municipal Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to SPDR® Nuveen Municipal Bond ETF.

Prior to 8/24/2021, the Bloomberg 3-15 Year Blend (2-17) Municipal Bond Index was known as the Bloomberg Barclays 3-15 Year Blend (2-17) Municipal Bond Index.