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SPDR® Bloomberg High Yield Bond ETF JNK

NAV
$89.67
as of Mar 20 2023
Base Currency
USD
Assets Under Management
$6,588.79 M
as of Mar 20 2023
Gross Expense Ratio
0.40%

Key Features


  • The SPDR® Bloomberg High Yield Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg High Yield Very Liquid Index (the "Index")
  • Seeks to provide a diversified exposure to US dollar-denominated high yield corporate bonds with above-average liquidity
  • A more cost efficient way to implement a high yield exposure than via individual bonds
  • Rebalanced on the last business day of the month

  • About this Benchmark


    The Bloomberg High Yield Very Liquid Index is designed to measure the performance of publicly issued U.S. dollar denominated high yield corporate bonds with above-average liquidity. High yield securities are generally rated below investment grade and are commonly referred to as "junk bonds." The Index includes publicly issued U.S. dollar denominated, non-investment grade, fixed-rate, taxable corporate bonds that have a remaining maturity of at least one year, but not more than fifteen years, regardless of optionality; are rated high-yield (Ba1/BB+/BB+ or below) using the middle rating of Moody's Investors Service, Inc., Fitch Inc., or Standard & Poor's Financial Services, LLC, respectively; and have $500 million or more of outstanding face value.


    Fund Information as of Mar 21 2023

    Benchmark Bloomberg High Yield Very Liquid Index
    Inception Date Nov 28 2007
    Options Available Yes
    Gross Expense Ratio
    0.40%
    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 Mar 21 2023

    Exchange Listing Date Trading Currency Ticker CUSIP ISIN
    NYSE ARCA EXCHANGE Nov 28 2007 USD JNK 78468R622 US78468R6229

    Fund Characteristics as of Mar 20 2023

    Number of Holdings 1,189
    Average Coupon
    5.79%
    Average Maturity in Years
    5.25
    Average Price $86.95
    Average Yield To Worst
    8.92%
    Option Adjusted Duration
    3.77 years
    Option Adjusted Spread 500.14
    Yield to Maturity
    9.02%

    Index Characteristics as of Mar 20 2023

    Number of Holdings 1,105
    Average Coupon 5.82%
    Average Maturity in Years 5.28
    Average Price $87.60
    Average Yield To Worst 9.05%
    Option Adjusted Duration 3.79 years
    Option Adjusted Spread 509.69
    Yield to Maturity 9.12%

    Yields as of Mar 20 2023

    30 Day SEC Yield
    8.53%
    30 Day SEC Yield (Unsubsidized)
    -
    Fund Distribution Yield
    6.31%

    Fund Market Price as of Mar 20 2023

    Bid/Ask
    $89.68
    Closing Price
    $89.67
    Day High $90.16
    Day Low $89.56
    Exchange Volume (Shares)
    1,155,602
    Premium/Discount
    0.01%
    30-Day Median Bid/Ask Spread
    0.01%

    Premium Discount to NAV Graph and Summary

    Number of Days Summary

    Calendar Year 2022
    Days Traded at Premium
    135
    Days Traded at Discount
    116

    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 20 2023

    Net Cash Amount $102,211,744.50

    Fund Net Asset Value as of Mar 20 2023

    NAV
    $89.67
    Shares Outstanding 73.47 M
    Assets Under Management $6,588.79 M

    Fund Performance

    • Fund Inception Date: Nov 28 2007

    as of Feb 28 2023

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Nov 28 2007
    Fund Before Tax
    NAV Feb 28 2023 -1.53% 2.43% 2.43% -6.79% -0.02% 1.87% 2.71% 4.30%
    Market Value Feb 28 2023 -1.86% 2.08% 2.08% -7.04% -0.11% 1.87% 2.70% 4.30%
    Benchmark
    Feb 28 2023 -1.49% 2.49% 2.49% -6.20% 0.66% 2.45% 3.59% 5.91%
    Fund After Tax
    Return after Taxes on Distributions Feb 28 2023 -1.73% 2.21% 2.21% -9.00% -2.09% -0.31% 0.31% 1.50%
    Return after Taxes on Distributions and Sale of Fund Shares Feb 28 2023 -0.90% 1.44% 1.44% -4.02% -0.84% 0.53% 1.00% 2.08%
    Benchmark
    Feb 28 2023 -1.49% 2.49% 2.49% -6.20% 0.66% 2.45% 3.59% 5.91%

    as of Dec 31 2022

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Nov 28 2007
    Fund Before Tax
    NAV Dec 31 2022 -0.97% 4.12% -12.43% -12.43% -1.52% 1.24% 2.59% 4.18%
    Market Value Dec 31 2022 -1.88% 4.81% -12.18% -12.18% -1.42% 1.26% 2.58% 4.21%
    Benchmark
    Dec 31 2022 -0.87% 4.34% -11.88% -11.88% -0.84% 1.83% 3.47% 5.80%
    Fund After Tax
    Return after Taxes on Distributions Dec 31 2022 -1.46% 3.17% -14.46% -14.46% -3.55% -0.92% 0.19% 1.37%
    Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2022 -0.57% 2.44% -7.33% -7.33% -1.94% 0.08% 0.93% 2.00%
    Benchmark
    Dec 31 2022 -0.87% 4.34% -11.88% -11.88% -0.84% 1.83% 3.47% 5.80%

    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

    as of Mar 20 2023
    as of Mar 20 2023

    Fund Top Holdings as of Mar 20 2023

    Name Market Value ISIN Weight
    TRANSDIGM INC 6.25 03/15/2026 32,116,187.65 US893647BE67 0.49%
    MOZART DEBT MERGER SUB 3.875 04/01/2029 28,950,083.37 US62482BAA08 0.44%
    CLOUD SOFTWARE GRP HOLDG 6.5 03/31/2029 27,640,323.93 US88632QAE35 0.42%
    AMERICAN AIRLINES/AADVAN 5.5 04/20/2026 26,302,224.43 US00253XAA90 0.40%
    DISH NETWORK CORP 11.75 11/15/2027 25,851,297.21 US25470MAG42 0.40%
    CAESARS ENTERTAIN INC 6.25 07/01/2025 25,239,445.17 US28470RAH57 0.39%
    DIRECTV FIN LLC/COINC 5.875 08/15/2027 24,227,434.58 US25461LAA08 0.37%
    AMERICAN AIRLINES/AADVAN 5.75 04/20/2029 21,437,258.07 US00253XAB73 0.33%
    AMERICAN AIRLINES INC 11.75 07/15/2025 20,865,156.68 US023771S586 0.32%
    MAUSER PACKAGING SOLUT 7.875 08/15/2026 20,612,960.20 US57763RAB33 0.32%

    Index Top Holdings as of Mar 20 2023

    Name ISIN Weight
    TRANSDIGM INC 6.25 03/15/2026 US893647BE67 0.51%
    MEDLINE BORROWER LP 3.875 04/01/2029 US62482BAA08 0.46%
    CLOUD SOFTWARE GRP HOLDG 6.5 03/31/2029 US88632QAE35 0.41%
    AMERICAN AIRLINES/AADVAN 5.5 04/20/2026 US00253XAA90 0.40%
    DISH NETWORK CORP 11.75 11/15/2027 US25470MAG42 0.40%
    CAESARS ENTERTAIN INC 6.25 07/01/2025 US28470RAH57 0.40%
    DIRECTV FIN LLC/COINC 5.875 08/15/2027 US25461LAA08 0.38%
    AMERICAN AIRLINES/AADVAN 5.75 04/20/2029 US00253XAB73 0.33%
    MAUSER PACKAGING SOLUT 7.875 08/15/2026 US57763RAB33 0.32%
    AMERICAN AIRLINES INC 11.75 07/15/2025 US023771S586 0.32%

    Sector Allocation

    as of Mar 20 2023
    as of Mar 20 2023

    Fund Sector Breakdown as of Mar 20 2023

    Sector Weight
    Corporate - Consumer Cyclical 23.60%
    CORPORATE - COMMUNICATIONS 15.86%
    Corporate - Consumer Non-Cyclical 12.39%
    CORPORATE - ENERGY 10.93%
    Corporate - Capital Goods 10.32%
    Corporate - Technology 6.86%
    Corporate - Basic Industry 4.10%
    Corporate - Transportation 3.08%
    Corporate - Finance Companies 2.94%
    Corporate - Electric 2.44%
    Corporate - REITS 1.81%
    Corporate - Insurance 1.55%
    Corporate - Other Financial 1.19%
    Corporate - Brokerage Assetmanagers Exchanges 0.94%
    Corporate - Industrial Other 0.70%
    Corporate - Banking 0.49%
    OTHER 0.81%

    Index Sector Breakdown as of Mar 20 2023

    Sector Weight
    Corporate - Consumer Cyclical 23.66%
    CORPORATE - COMMUNICATIONS 16.08%
    Corporate - Consumer Non-Cyclical 12.66%
    CORPORATE - ENERGY 10.95%
    Corporate - Capital Goods 10.45%
    Corporate - Technology 7.00%
    Corporate - Basic Industry 4.11%
    Corporate - Transportation 3.08%
    Corporate - Finance Companies 2.87%
    Corporate - Electric 2.41%
    Corporate - REITS 1.84%
    Corporate - Insurance 1.55%
    Corporate - Other Financial 1.21%
    Corporate - Brokerage Assetmanagers Exchanges 0.93%
    Corporate - Industrial Other 0.73%
    Corporate - Banking 0.47%

    Quality Breakdown

    as of Mar 20 2023
    as of Mar 20 2023

    Fund Quality Breakdown as of Mar 20 2023

    Name Weight
    AAA 0.76%
    BAA3 0.18%
    BA1 12.91%
    BA2 11.30%
    BA3 21.25%
    B1 15.81%
    B2 16.15%
    B3 10.56%
    CAA1 5.18%
    CAA2 4.90%
    CAA3 0.60%
    CCC or Lower 0.03%
    Not Rated 0.36%

    Index Quality Breakdown as of Mar 20 2023

    Name Weight
    BA1 13.24%
    BA2 11.44%
    BA3 21.14%
    B1 15.65%
    B2 17.24%
    B3 10.55%
    CAA1 4.80%
    CAA2 5.00%
    CAA3 0.63%
    CCC or Lower 0.03%
    Not Rated 0.29%

    Maturity Ladder

    as of Mar 20 2023
    as of Mar 20 2023

    Fund Maturity Ladder as of Mar 20 2023

    Name Weight
    0 - 1 Year 0.88%
    1 - 2 Years 2.19%
    2 - 3 Years 11.72%
    3 - 5 Years 29.18%
    5 - 7 Years 38.41%
    7 - 10 Years 16.83%
    10 - 15 Years 0.74%

    Index Maturity Ladder as of Mar 20 2023

    Name Weight
    1 - 2 Years 2.26%
    2 - 3 Years 10.08%
    3 - 5 Years 30.33%
    5 - 7 Years 38.48%
    7 - 10 Years 18.10%
    10 - 15 Years 0.75%

    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 High Yield Bond 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 High Yield Very Liquid 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 High Yield Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to SPDR Bloomberg High Yield Bond ETF.

    Prior to 10/31/2021, the SPDR Bloomberg High Yield Bond ETF was known as the SPDR Bloomberg Barclays High Yield Bond ETF.

    Prior to 8/24/2021, the Bloomberg High Yield Very Liquid Index was known as the Bloomberg Barclays High Yield Very Liquid Index.