Skip to main content

SPDR® Portfolio High Yield Bond ETF SPHY

NAV

NAV

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

$23.26
as of Jun 12 2024
Base Currency
USD
Assets Under Management
$5,017.22 M
as of Jun 12 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.

0.05%

Key Features

  • The SPDR® Portfolio High Yield Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ICE BofA US High Yield Index (the “Index”)
  • One of the low cost core SPDR Portfolio ETFs, a suite of portfolio building blocks designed to provide broad, diversified exposure to core asset classes
  • A low cost ETF that seeks to offer exposure to over a trillion dollars of USD-denominated high yield debt
  • The index includes publicly issued USD high yield bonds with a below investment grade rating, at least 18 months to final maturity at the time of issuance, at least one year to maturity, a fixed coupon, and a minimum amount outstanding of $250M

About this Benchmark

The ICE BofA US High Yield Index is market capitalization weighted and is designed to measure the performance of U.S. dollar denominated below investment grade (commonly referred to as “junk”) corporate debt publicly issued in the U.S. domestic market. The Index includes securities rated below investment grade (based on an average of Moody’s Investors Service, Inc., Fitch, Inc., and S&P Global Ratings) with at least 18 months remaining to final maturity at the time of issuance and at least one year remaining term to final maturity as of the Index’s rebalancing date. In addition, individual securities of qualifying issuers must have a fixed coupon schedule and a minimum amount outstanding of $250 million.

Fund Information as of Jun 13 2024

Benchmark ICE BofA US High Yield Index
Inception Date Jun 18 2012
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.

0.05%
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 Jun 13 2024

Exchange Listing Date Trading Currency Ticker CUSIP ISIN
NYSE ARCA EXCHANGE Jun 19 2012 USD SPHY 78468R606 US78468R6062

Fund Characteristics as of Jun 12 2024

Number of Holdings 1,942
Average Coupon

Average Coupon

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

6.43%
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.

4.80
Average Price

Average Price The weighted average of each asset’s market price relative to its face value or par value.

$95.04
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.

7.89%
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.

3.10 years
Option Adjusted Spread 309.40
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.

8.05%

Index Characteristics as of Jun 12 2024

Number of Holdings 1,866
Average Coupon 6.36%
Average Maturity in Years 4.92
Average Price $94.98
Average Yield To Worst 7.82%
Option Adjusted Duration 3.17 years
Option Adjusted Spread 301.65
Yield to Maturity 8.02%

Yields as of Jun 12 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.

7.91%
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.

7.91%
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.

7.75%

Fund Market Price as of Jun 12 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.

$23.26
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$23.27
Day High $23.36
Day Low $23.27
Exchange Volume (Shares)

Exchange Volume (shares)

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

250,616
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)

0.02%
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.

0.04%

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 First Quarter of 2024
Days Traded at Premium

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

176 48
Days Traded at Discount

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

74 13

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 Jun 12 2024

Net Cash Amount $63,862,944.81

Fund Net Asset Value as of Jun 12 2024

NAV

NAV

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

$23.26
Shares Outstanding 215.70 M
Assets Under Management $5,017.22 M

Fund Performance

  • Fund Inception Date: Jun 18 2012

as of May 31 2024

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Jun 18 2012
Fund Before Tax
NAV May 31 2024 1.10% 0.17% 1.63% 11.26% 1.99% 4.36% 3.99% 4.53%
Market Value May 31 2024 1.58% 0.42% 2.18% 11.48% 2.09% 4.46% 4.02% 4.56%
Benchmark
ICE BofA US High Yield Index

Index Change: “Benchmark” reflects linked performance returns of both the ICE BofA US High Yield Index and the ICE BofAML US Diversified Crossover Corporate Index. The index returns are reflective of the ICE BofAML US Diversified Crossover Corporate Index from fund inception until 4/1/2019 and of the ICE BofA US High Yield Index effective 4/1/2019 to present.

May 31 2024 1.13% 0.12% 1.63% 11.17% 1.78% 4.03% 4.01% 4.59%
Fund After Tax
Return after Taxes on Distributions May 31 2024 0.83% -0.37% 0.53% 7.77% -0.70% 1.71% 1.74% 2.36%
Return after Taxes on Distributions and Sale of Fund Shares May 31 2024 0.65% 0.10% 0.96% 6.57% 0.34% 2.18% 2.04% 2.52%
Benchmark
ICE BofA US High Yield Index

Index Change: “Benchmark” reflects linked performance returns of both the ICE BofA US High Yield Index and the ICE BofAML US Diversified Crossover Corporate Index. The index returns are reflective of the ICE BofAML US Diversified Crossover Corporate Index from fund inception until 4/1/2019 and of the ICE BofA US High Yield Index effective 4/1/2019 to present.

May 31 2024 1.13% 0.12% 1.63% 11.17% 1.78% 4.03% 4.01% 4.59%

as of Mar 31 2024

As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Jun 18 2012
Fund Before Tax
NAV Mar 31 2024 1.18% 1.46% 1.46% 11.23% 2.43% 4.29% 4.21% 4.58%
Market Value Mar 31 2024 1.14% 1.75% 1.75% 10.36% 2.32% 4.26% 4.22% 4.58%
Benchmark
ICE BofA US High Yield Index

Index Change: “Benchmark” reflects linked performance returns of both the ICE BofA US High Yield Index and the ICE BofAML US Diversified Crossover Corporate Index. The index returns are reflective of the ICE BofAML US Diversified Crossover Corporate Index from fund inception until 4/1/2019 and of the ICE BofA US High Yield Index effective 4/1/2019 to present.

Mar 31 2024 1.19% 1.51% 1.51% 11.04% 2.21% 4.03% 4.24% 4.65%
Fund After Tax
Return after Taxes on Distributions Mar 31 2024 0.91% 0.90% 0.90% 7.79% -0.21% 1.67% 1.99% 2.43%
Return after Taxes on Distributions and Sale of Fund Shares Mar 31 2024 0.70% 0.86% 0.86% 6.52% 0.70% 2.13% 2.23% 2.56%
Benchmark
ICE BofA US High Yield Index

Index Change: “Benchmark” reflects linked performance returns of both the ICE BofA US High Yield Index and the ICE BofAML US Diversified Crossover Corporate Index. The index returns are reflective of the ICE BofAML US Diversified Crossover Corporate Index from fund inception until 4/1/2019 and of the ICE BofA US High Yield Index effective 4/1/2019 to present.

Mar 31 2024 1.19% 1.51% 1.51% 11.04% 2.21% 4.03% 4.24% 4.65%

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.

Index Change: “Benchmark” reflects linked performance returns of both the ICE BofA US High Yield Index and the ICE BofAML US Diversified Crossover Corporate Index. The index returns are reflective of the ICE BofAML US Diversified Crossover Corporate Index from fund inception until 4/1/2019 and of the ICE BofA US High Yield Index effective 4/1/2019 to present.

Gross Expense Ratio: 0.05%

Top Holdings

Subject to change.

as of Jun 12 2024
as of Jun 12 2024

Fund Top Holdings as of Jun 12 2024

Name Market Value ISIN Weight
STATE STREET INSTITUTIONAL LIQ 25,437,596.15 - 0.51%
CLOUD SOFTWARE GRP INC SR SECURED 144A 03/29 6.5 15,821,014.23 US88632QAE35 0.32%
MEDLINE BORROWER LP SR SECURED 144A 04/29 3.875 14,717,747.52 US62482BAA08 0.29%
CLOUD SOFTWARE GRP INC SECURED 144A 09/29 9 13,603,652.00 US18912UAA07 0.27%
DIRECTV FIN LLC/COINC SR SECURED 144A 08/27 5.875 12,852,081.68 US25461LAA08 0.26%
CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 05/27 5.125 12,654,230.16 US1248EPBT92 0.25%
VENTURE GLOBAL LNG INC SR SECURED 144A 02/29 9.5 12,472,204.77 US92332YAC57 0.25%
CARNIVAL CORP COMPANY GUAR 144A 03/27 5.75 12,425,278.95 US143658BN13 0.25%
HUB INTERNATIONAL LTD SR SECURED 144A 06/30 7.25 11,336,186.10 US44332PAH47 0.23%
DISH NETWORK CORP SR SECURED 144A 11/27 11.75 10,949,459.28 US25470MAG42 0.22%

Index Top Holdings as of Jun 12 2024

Name ISIN Weight
MEDLINE BORROWER LP 3.875 04/01/2029 US62482BAA08 0.33%
TIBCO SOFTWARE INC 6.5 03/31/2029 US88632QAE35 0.31%
TIBCO SOFTWARE INC 9 09/30/2029 US18912UAA07 0.30%
DIRECTV FIN LLC/COINC 5.875 08/15/2027 US25461LAA08 0.28%
DISH NETWORK CORP 11.75 11/15/2027 US25470MAG42 0.27%
HUB INTERNATIONAL LTD 7.25 06/15/2030 US44332PAH47 0.27%
VENTURE GLOBAL LNG INC 9.5 02/01/2029 US92332YAC57 0.27%
CCO HLDGS LLC/CAP CORP 5.125 05/01/2027 US1248EPBT92 0.25%
PANTHER ESCROW ISSUER 7.125 06/01/2031 US69867RAA59 0.24%
AMERICAN AIRLINES/AADVAN 5.75 04/20/2029 US00253XAB73 0.23%

Sector Allocation

as of Jun 12 2024
as of Jun 12 2024

Fund Sector Breakdown as of Jun 12 2024

Sector Weight
Corporate - Consumer Cyclical 20.43%
CORPORATE - COMMUNICATIONS 13.38%
CORPORATE - ENERGY 12.29%
Corporate - Consumer Non-Cyclical 10.53%
Corporate - Capital Goods 9.95%
Corporate - Technology 8.10%
Corporate - Basic Industry 5.66%
Corporate - Finance Companies 4.16%
Corporate - Insurance 2.66%
Corporate - Electric 2.60%
Corporate - Transportation 2.38%
Corporate - REITS 2.38%
Corporate - Other Financial 1.41%
Corporate - Industrial Other 1.37%
Corporate - Brokerage Assetmanagers Exchanges 1.10%
Corporate - Banking 1.01%
Other 0.58%

Index Sector Breakdown as of Jun 12 2024

Sector Weight
Corporate - Consumer Cyclical 20.03%
CORPORATE - COMMUNICATIONS 14.08%
CORPORATE - ENERGY 11.84%
Corporate - Consumer Non-Cyclical 11.65%
Corporate - Capital Goods 10.64%
Corporate - Technology 7.81%
Corporate - Basic Industry 5.53%
Corporate - Finance Companies 3.65%
Corporate - Insurance 2.69%
Corporate - Electric 2.62%
Corporate - Transportation 2.41%
Corporate - REITS 2.21%
Corporate - Industrial Other 1.28%
Corporate - Other Financial 1.19%
Corporate - Banking 0.99%
Corporate - Brokerage Assetmanagers Exchanges 0.81%
Other 0.56%

Quality Breakdown

as of Jun 12 2024
as of Jun 12 2024

Fund Quality Breakdown as of Jun 12 2024

Name Weight
AAA 0.15%
BAA2 0.03%
BAA3 0.66%
BA1 9.40%
BA2 15.35%
BA3 24.40%
B1 12.26%
B2 13.03%
B3 11.90%
CAA1 5.38%
CAA2 4.75%
CAA3 1.40%
CCC or Lower 0.05%
Not Rated 1.24%

Index Quality Breakdown as of Jun 12 2024

Name Weight
BAA3 0.45%
BA1 9.88%
BA2 16.18%
BA3 23.66%
B1 12.05%
B2 13.12%
B3 11.81%
CAA1 5.32%
CAA2 4.84%
CAA3 1.29%
CCC or Lower 0.08%
Not Rated 1.33%

Maturity Ladder

as of Jun 12 2024
as of Jun 12 2024

Fund Maturity Ladder as of Jun 12 2024

Name Weight
0 - 1 Year 0.93%
1 - 2 Years 7.78%
2 - 3 Years 11.57%
3 - 5 Years 40.17%
5 - 7 Years 27.96%
7 - 10 Years 10.06%
10 - 15 Years 0.66%
15 - 20 Years 0.43%
20 - 30 Years 0.39%
> 30 Years 0.04%

Index Maturity Ladder as of Jun 12 2024

Name Weight
1 - 2 Years 7.23%
2 - 3 Years 11.23%
3 - 5 Years 40.16%
5 - 7 Years 28.89%
7 - 10 Years 10.79%
10 - 15 Years 0.71%
15 - 20 Years 0.49%
20 - 30 Years 0.39%
> 30 Years 0.04%

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 Portfolio 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.

Index Change: “Benchmark” reflects linked performance returns of both the ICE BofA US High Yield Index and the ICE BofAML US Diversified Crossover Corporate Index. The index returns are reflective of the ICE BofAML US Diversified Crossover Corporate Index from fund inception until 4/1/2019 and of the ICE BofA US High Yield Index effective 4/1/2019 to present.

Prior to 09/23/2019, the SPDR® Portfolio High Yield Bond ETF was known as the SPDR® ICE BofAML Broad High Yield Bond ETF.

Prior to 09/23/2019, the ticker for SPHY was CJNK.

"ICE Data" and "the ICE BofA US High Yield Index" (the "Index") are trademarks of Ice Data Indices, LLC or its affiliates, and have been licensed for use by SSGA. ICE Data has not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product, nor makes any representation or warranty, express or implied, to the owners of the licensee’s products or any member of the public regarding the licensee’s products or the advisability of investing in the licensees products, particularly the ability of the Index to track performance of any market or strategy. ICE DATA DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN AND ICE DATA SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, UNAVAILABILITY, OR INTERRUPTIONS THEREIN.