SPDR® Nuveen Bloomberg High Yield Municipal Bond ETF HYMB

NAV
$25.53
as of Feb 06 2023
Base Currency
USD
Assets Under Management
$2,067.95 M
as of Feb 06 2023
Gross Expense Ratio
0.35%

Key Features


  • The SPDR® Nuveen Bloomberg High Yield Municipal Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg Municipal Yield Index (the "Index")
  • Seeks to provide an exposure to high yield municipal bonds issued by U.S. states, the District of Columbia, U.S. territories and local governments or agencies
  • Only bonds with total outstanding amounts of $3,000,000 or more qualify for inclusion in the Index
  • Rebalanced on the last business day of the month

  • About this Benchmark


    The Bloomberg Municipal Yield Index (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. 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 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.


    Fund Information as of Feb 07 2023

    Benchmark Bloomberg Municipal Yield Index
    Inception Date Apr 13 2011
    Options Available No
    Gross Expense Ratio
    0.35%
    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 Feb 07 2023

    Exchange Listing Date Trading Currency Ticker CUSIP ISIN
    NYSE ARCA EXCHANGE Apr 14 2011 USD HYMB 78464A284 US78464A2841

    Fund Characteristics as of Feb 06 2023

    Number of Holdings 1,755
    Average Coupon
    4.56%
    Average Maturity in Years
    16.36
    Average Price $92.84
    Average Yield To Worst
    4.98%
    Option Adjusted Duration
    7.69 years
    Yield to Maturity
    5.17%

    Index Characteristics as of Feb 06 2023

    Number of Holdings 18,908
    Average Maturity in Years 15.93
    Average Price $99.31
    Average Yield To Worst 4.97%
    Option Adjusted Duration 7.40 years
    Yield to Maturity 5.16%

    Yields as of Feb 06 2023

    30 Day SEC Yield
    4.49%
    30 Day SEC Yield (Unsubsidized)
    4.49%
    Fund Distribution Yield
    7.00%
    Tax Equivalent Yield
    7.59%

    Fund Market Price as of Feb 06 2023

    Bid/Ask
    $25.43
    Closing Price
    $25.43
    Day High $25.56
    Day Low $25.41
    Exchange Volume (Shares)
    75,110
    Premium/Discount
    -0.39%
    30-Day Median Bid/Ask Spread
    0.08%

    Premium Discount to NAV Graph and Summary

    Number of Days Summary

    Calendar Year 2022
    Days Traded at Premium
    96
    Days Traded at Discount
    155

    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 06 2023

    Net Cash Amount $14,984,973.89

    Fund Net Asset Value as of Feb 06 2023

    NAV
    $25.53
    Shares Outstanding 81.00 M
    Assets Under Management $2,067.95 M

    Fund Performance

    • Fund Inception Date: Apr 13 2011

    as of Jan 31 2023

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Apr 13 2011
    Fund Before Tax
    NAV Jan 31 2023 4.26% 4.26% 4.26% -9.05% -2.05% 1.94% 2.61% 4.48%
    Market Value Jan 31 2023 4.31% 4.31% 4.31% -8.52% -2.02% 2.04% 2.60% 4.49%
    Bloomberg Municipal Yield Index Jan 31 2023 4.17% 4.17% 4.17% -6.11% -0.11% 3.36% 3.80% 5.53%
    Fund After Tax
    Return after Taxes on Distributions Jan 31 2023 4.26% 4.26% 4.26% -9.07% -2.06% 1.92% 2.59% 4.45%
    Return after Taxes on Distributions and Sale of Fund Shares Jan 31 2023 2.52% 2.52% 2.52% -4.06% -0.73% 2.38% 2.92% 4.50%
    Bloomberg Municipal Yield Index Jan 31 2023 4.17% 4.17% 4.17% -6.11% -0.11% 3.36% 3.80% 5.53%

    as of Dec 31 2022

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Apr 13 2011
    Fund Before Tax
    NAV Dec 31 2022 -0.55% 3.18% -15.27% -15.27% -2.68% 1.05% 2.30% 4.14%
    Market Value Dec 31 2022 -1.13% 3.61% -15.38% -15.38% -2.66% 1.15% 2.37% 4.14%
    Bloomberg Municipal Yield Index Dec 31 2022 -0.06% 3.61% -12.41% -12.41% -0.68% 2.47% 3.50% 5.21%
    Fund After Tax
    Return after Taxes on Distributions Dec 31 2022 -0.55% 3.18% -15.29% -15.29% -2.69% 1.02% 2.28% 4.11%
    Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2022 -0.06% 2.42% -7.78% -7.78% -1.17% 1.71% 2.70% 4.26%
    Bloomberg Municipal Yield Index Dec 31 2022 -0.06% 3.61% -12.41% -12.41% -0.68% 2.47% 3.50% 5.21%

    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.

    Prior to 10/01/2019, the Fund sought to track the S&P Municipal Yield Index. Effective 10/01/2019, the Fund seeks to track the Bloomberg Municipal Yield Index. The inception of the Bloomberg Municipal Yield Index was 8/7/2019. Performance of the Fund shown in the table prior to 10/01/2019 is therefore based on the Fund's investment strategy to track an index different from the Bloomberg Municipal Yield Index.

    The Bloomberg Municipal Yield Index reflects linked performance returns of both the Bloomberg Municipal Yield Index and S&P Municipal Yield Index. The index returns are reflective of the S&P Municipal Yield Index from fund inception until 10/1/2019 and of the Bloomberg Municipal Yield Index effective 10/1/2019.

    Gross Expense Ratio: 0.35%


    Top Holdings

    Fund Top Holdings as of Feb 06 2023

    Name Market Value ISIN Weight
    BUCGEN 5.000 06/01/55 39,267,036.00 US118217CZ97 1.90%
    PRCGEN 5.000 07/01/58 37,151,370.00 US74529JPX71 1.80%
    PRCGEN 4.784 07/01/58 31,896,641.00 US74529JRL16 1.54%
    PRCGEN 4.750 07/01/53 20,732,215.00 US74529JPW98 1.00%
    PRC 0.000 07/01/24 16,730,653.00 US74514L3Q89 0.81%
    GLDGEN 0.000 06/01/66 14,757,385.00 US38122NB843 0.71%
    NYTTRN 5.000 10/01/40 14,534,545.00 US650116CZ75 0.70%
    SJHTRN 5.250 01/15/44 14,305,361.00 US798111GC88 0.69%
    JEFUTL 6.500 10/01/53 13,648,411.00 US472682RM76 0.66%
    FLSDEV 7.375 01/01/49 11,522,693.00 US34061YAH36 0.56%

    Sector Allocation

    as of Feb 06 2023
    as of Feb 06 2023

    Fund Sector Breakdown as of Feb 06 2023

    Sector Weight
    Muni Industrial Revenue 23.05%
    Muni Health Care 17.14%
    Muni Special Tax 14.87%
    Muni Transportation 10.28%
    Muni Education 9.05%
    Muni Local 6.94%
    Muni State 6.54%
    Muni Housing 4.78%
    Muni Leasing 3.17%
    Muni Water & Sewer 2.68%
    Muni Power 1.53%
    Not Classified -0.02%

    Index Sector Breakdown as of Feb 06 2023

    Sector Weight
    Muni Industrial Revenue 21.03%
    Muni Health Care 17.61%
    Muni Special Tax 14.36%
    Muni Transportation 10.64%
    Muni Education 10.16%
    Muni Local 7.16%
    Muni State 6.30%
    Muni Housing 5.05%
    Muni Leasing 3.57%
    Muni Water & Sewer 2.88%
    Muni Power 1.20%
    Muni Solid Waste/Res Recovery 0.04%

    Quality Breakdown

    as of Feb 06 2023
    as of Feb 06 2023

    Fund Quality Breakdown as of Feb 06 2023

    Name Weight
    Aaa -0.09%
    Aa 0.27%
    A 9.71%
    Baa 20.96%
    Ba 18.81%
    B 4.18%
    Caa 1.80%
    Ca 0.09%
    C 0.10%
    D 0.12%
    NR 44.05%

    Index Quality Breakdown as of Feb 06 2023

    Name Weight
    A 9.98%
    Baa 19.91%
    Ba 16.76%
    B 3.61%
    Caa 1.71%
    Ca 0.06%
    C 0.15%
    NR 47.82%

    Maturity Ladder

    as of Feb 06 2023
    as of Feb 06 2023

    Fund Maturity Ladder as of Feb 06 2023

    Name Weight
    0 - 1 Year 0.18%
    1 - 3 Years 2.87%
    3 - 5 Years 3.80%
    5 - 7 Years 4.07%
    7 - 10 Years 8.98%
    10 - 15 Years 14.96%
    15 - 20 Years 16.41%
    20 - 25 Years 14.54%
    25 - 30 Years 15.77%
    > 30 Years 18.43%

    Index Maturity Ladder as of Feb 06 2023

    Name Weight
    0 - 1 Year 0.16%
    1 - 2 Years 2.08%
    2 - 3 Years 3.05%
    3 - 5 Years 5.96%
    5 - 7 Years 5.71%
    7 - 10 Years 8.32%
    Not Classified 74.72%

    Top Ten States

    Fund Top Ten States as of Feb 06 2023

    Name Weight
    PUERTO RICO-PR 13.90%
    CALIFORNIA-CA 12.77%
    ILLINOIS-IL 9.58%
    NEW YORK-NY 7.83%
    FLORIDA-FL 6.22%
    TEXAS-TX 4.81%
    OHIO-OH 4.52%
    PENNSYLVANIA-PA 4.06%
    COLORADO-CO 3.23%
    WISCONSIN-WI 2.80%

    Purchase Information


    Buying and Selling ETFs

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    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 Bloomberg High Yield 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.

    The Bloomberg Municipal Yield Index reflects linked performance returns of both the Bloomberg Municipal Yield Index and S&P Municipal Yield Index. The index returns are reflective of the S&P Municipal Yield Index from fund inception until 10/1/2019 and of the Bloomberg Municipal Yield Index effective 10/1/2019.

    "Bloomberg®" and Bloomberg Municipal Yield 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 Bloomberg High Yield Municipal Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to SPDR Nuveen Bloomberg High Yield Municipal Bond ETF.

    Effective 10/1/2019, the Fund's benchmark index changed from the S&P Municipal Yield Index (the "Previous Benchmark Index") to the Bloomberg Municipal Yield Index, consistent with a change in the Fund's principal investment strategy to track the performance of the new index.

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

    Prior to 10/31/2021, the SPDR Nuveen Bloomberg High Yield Municipal Bond ETF was known as the SPDR® Nuveen Bloomberg Barclays High Yield Municipal Bond ETF. And prior to 10/01/2019, the SPDR® Nuveen Bloomberg Barclays High Yield Municipal Bond ETF was known as the SPDR® Nuveen S&P High Yield Municipal Bond ETF.