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SPDR® Portfolio High Yield Bond ETF SPHY

Important Risk Disclosure

NAV

NAV

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

$25.02

as of Sep 24 2020

Base Currency

USD

Assets Under Management

$125.08 M

as of Sep 24 2020

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

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, covering more than 1,800 issues
  • 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

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 Standard & Poor's Financial Services, LLC) 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 Sep 24 2020

Fund Information as of Sep 24 2020
Benchmark Inception Date Options Available 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.

Base Currency Investment Manager Management Team
ICE BofA US High Yield Index Jun 18 2012 No 0.15% USD SSGA Funds Management, Inc. Global Fixed Income, Cash and Currency
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.

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

Listing Information as of Sep 24 2020

Listing Information as of Sep 24 2020
Exchange Listing Date Trading Currency Ticker CUSIP ISIN
NYSE ARCA EXCHANGE Jun 19 2012 USD SPHY 78468R606 US78468R6062
Exchange NYSE ARCA EXCHANGE
Listing Date Jun 19 2012
Trading Currency USD
Ticker SPHY
CUSIP 78468R606
ISIN US78468R6062

Fund Characteristics as of Sep 24 2020

Fund Characteristics as of Sep 24 2020
Number of Holdings Average Coupon

Average Coupon

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

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.

Average Price 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.

Current Yield

Current Yield

A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

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.

1,637 6.11% 6.33 $100.17 6.19% 6.22% 3.80 years
Number of Holdings 1,637
Average Coupon

Average Coupon

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

6.11%
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.

6.33
Average Price $100.17
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.

6.19%
Current Yield

Current Yield

A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

6.22%
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.

3.80 years
Option Adjusted Spread 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.

551.85 6.42%
Option Adjusted Spread 551.85
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.

6.42%

Index Characteristics as of Sep 24 2020

Index Characteristics as of Sep 24 2020
Number of Holdings Average Coupon Average Maturity in Years Average Price Average Yield To Worst Current Yield Option Adjusted Duration
2,013 6.04% 6.39 $100.60 6.06% 6.15% 3.86 years
Number of Holdings 2,013
Average Coupon 6.04%
Average Maturity in Years 6.39
Average Price $100.60
Average Yield To Worst 6.06%
Current Yield 6.15%
Option Adjusted Duration 3.86 years
Option Adjusted Spread Yield to Maturity
538.95 6.29%
Option Adjusted Spread 538.95
Yield to Maturity 6.29%

Yields as of Sep 24 2020

Yields as of Sep 24 2020
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.

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 Dividend Yield

Fund Dividend Yield

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

5.45% 5.45% 6.24%
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.

5.45%
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.

5.45%
Fund Dividend Yield

Fund Dividend Yield

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

6.24%

Fund Market Price as of Sep 24 2020

Fund Market Price as of Sep 24 2020
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.

Closing Price

Closing Price

Market Price of last reported trade on the exchange.

Day High Day Low Exchange Volume (Shares)

Exchange Volume (shares)

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

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)

$25.06 $25.08 $25.10 $25.00 5,125 0.19%
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.

$25.06
Closing Price

Closing Price

Market Price of last reported trade on the exchange.

$25.08
Day High $25.10
Day Low $25.00
Exchange Volume (Shares)

Exchange Volume (shares)

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

5,125
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)

0.19%

Premium Discount to Nav

Quarter
    x axis: # of days
    y axis: # Premium/Discount percentage
    Fund Data

    The above information is provided to show the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds.

    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 Sep 24 2020

    Fund Net Cash Amount as of Sep 24 2020
    Net Cash Amount
    $533,425.62
    Net Cash Amount $533,425.62

    Fund Net Asset Value as of Sep 24 2020

    Fund Net Asset Value as of Sep 24 2020
    NAV

    NAV

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

    Shares Outstanding Assets Under Management
    $25.02 5.00 M $125.08 M
    NAV

    NAV

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

    $25.02
    Shares Outstanding 5.00 M
    Assets Under Management $125.08 M
    Most Recent NAV / NAV History

    Fund Performance

    Fund Performance

    • Fund Inception Date: Jun 18 2012

    as of Aug 31 2020

    as of Jun 30 2020

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Jun 18 2012
    Fund Before Tax
    NAV Aug 31 2020 1.05% 5.88% 0.87% 4.14% 3.86% 5.16% - 4.85%
    Market Value Aug 31 2020 0.74% 5.36% 0.77% 4.39% 3.68% 5.17% - 4.87%
    ICE BofA US High Yield Index Aug 31 2020 0.98% 5.81% 0.75% 3.71% 4.01% 5.32% 5.64% 5.11%
    Fund After Tax
    Return after Taxes on Distributions Aug 31 2020 0.84% 5.45% -0.60% 1.54% 1.69% 3.06% - 2.91%
    Return after Taxes on Distributions and Sale of Fund Shares Aug 31 2020 0.62% 3.47% 0.47% 2.39% 1.99% 3.01% - 2.86%
    ICE BofA US High Yield Index Aug 31 2020 0.98% 5.81% 0.75% 3.71% 4.01% 5.32% 5.64% 5.11%
    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Jun 18 2012
    Fund Before Tax
    NAV Jun 30 2020 0.98% 9.62% -4.73% -0.78% 2.36% 3.76% - 4.22%
    Market Value Jun 30 2020 0.97% 10.50% -4.35% -0.09% 2.35% 3.94% - 4.30%
    ICE BofA US High Yield Index Jun 30 2020 0.97% 9.61% -4.78% -1.10% 2.53% 3.95% 5.47% 4.48%
    Fund After Tax
    Return after Taxes on Distributions Jun 30 2020 0.78% 8.91% -5.74% -3.29% 0.26% 1.72% - 2.30%
    Return after Taxes on Distributions and Sale of Fund Shares Jun 30 2020 0.59% 5.68% -2.81% -0.45% 0.91% 1.98% - 2.39%
    ICE BofA US High Yield Index Jun 30 2020 0.97% 9.61% -4.78% -1.10% 2.53% 3.95% 5.47% 4.48%

    Performance quoted represents past performance, which is no guarantee of future results. 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.  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.

    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 4/1/2019, the Fund sought to track the ICE BofAML US Diversified Crossover Corporate Index. Effective 4/1/2019, the Fund seeks to track the ICE BofA US High Yield Index. The inception of the ICE BofA US High Yield Index was 8/31/1986. Performance of the Fund shown in the table prior to 4/1/2019 is therefore based on the Fund's investment strategy to track an index different from the ICE BofA US High Yield Index.

    The ICE BofA US High Yield Index 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.

    Gross Expense Ratio: 0.15%


    Top Holdings

    Subject to change.

    Top Holdings

    Subject to change.

    Fund Top Holdingsas of Sep 24 2020
    Index Top Holdingsas of Sep 24 2020

    Fund Top Holdings as of Sep 24 2020

    Name Market Value ISIN Weight
    STATE ST INST US GOV MM-G 0 00/00/0000 1,282,500.59 US8574924663 1.02%
    ALTICE FRANCE SA 7.375 05/01/2026 531,472.69 US67054KAA79 0.42%
    FORD MOTOR COMPANY 7.45 07/16/2031 456,795.80 US345370CA64 0.36%
    CCO HLDGS LLC/CAP CORP 5.125 05/01/2027 412,934.69 US1248EPBT92 0.33%
    CARNIVAL CORP 11.5 04/01/2023 392,879.44 US143658BC57 0.31%
    CSC HOLDINGS LLC 6.5 02/01/2029 390,536.81 US126307AZ02 0.31%
    CCO HLDGS LLC/CAP CORP 5.75 02/15/2026 381,873.65 US1248EPBM40 0.30%
    FORD MOTOR CREDIT CO LLC 3.35 11/01/2022 373,896.35 US345397ZU05 0.30%
    CENTENE CORP 5.25 04/01/2025 372,655.20 US15135BAL53 0.30%
    FORD MOTOR COMPANY 8.5 04/21/2023 365,588.90 US345370CV02 0.29%

    Index Top Holdings as of Sep 24 2020

    Name ISIN Weight
    ALTICE FRANCE SA 7.375 05/01/2026 US67054KAA79 0.39%
    SPRINT CORP 7.875 09/15/2023 US85207UAF21 0.34%
    CARNIVAL CORP 11.5 04/01/2023 US143658BC57 0.33%
    TRANSDIGM INC 6.25 03/15/2026 US893647BE67 0.32%
    FORD MOTOR COMPANY 9 04/22/2025 US345370CW84 0.29%
    FORD MOTOR COMPANY 8.5 04/21/2023 US345370CV02 0.28%
    CENTENE CORP 4.625 12/15/2029 US15135BAT89 0.27%
    CAESARS ENTERTAIN INC 6.25 07/01/2025 US28470RAH57 0.25%
    CCO HLDGS LLC/CAP CORP 5.125 05/01/2027 US1248EPBT92 0.25%
    BAUSCH HEALTH COS INC 6.125 04/15/2025 US91831AAC53 0.24%

    Sector Allocation

    Sector Allocation
    Fund Sector Breakdownas of Sep 24 2020
    Index Sector Breakdownas of Sep 24 2020

    Fund Sector Breakdown as of Sep 24 2020

    Sector Weight
    Corporate - Consumer Cyclical 19.94%
    Corporate - Communications 16.80%
    Corporate - Consumer Non-Cyclical 12.97%
    Corporate - Energy 12.92%
    Corporate - Capital Goods 8.60%
    Corporate - Technology 6.42%
    Corporate - Basic Industry 6.04%
    Corporate - Electric 2.50%
    Corporate - Insurance 2.46%
    Corporate - REITS 2.30%
    Corporate - Finance Companies 2.15%
    Corporate - Banking 1.80%
    Corporate - Transportation 1.41%
    Corporate - Industrial Other 1.39%
    Corporate - Other Financial 1.00%
    Corporate - Brokerage Assetmanagers Exchanges 0.82%
    Other 0.46%

    Index Sector Breakdown as of Sep 24 2020

    Sector Weight
    Corporate - Consumer Cyclical 20.36%
    Corporate - Communications 16.73%
    Corporate - Consumer Non-Cyclical 13.77%
    Corporate - Energy 12.79%
    Corporate - Capital Goods 9.14%
    Corporate - Technology 6.55%
    Corporate - Basic Industry 5.83%
    Corporate - Electric 2.29%
    Corporate - Insurance 2.16%
    Corporate - Finance Companies 2.07%
    Corporate - REITS 1.76%
    Corporate - Banking 1.74%
    Corporate - Transportation 1.54%
    Corporate - Industrial Other 1.23%
    Corporate - Other Financial 0.87%
    Corporate - Brokerage Assetmanagers Exchanges 0.45%
    Other 0.71%

    Quality Breakdown

    Quality Breakdown
    Fund Quality Breakdownas of Sep 24 2020
    Index Quality Breakdownas of Sep 24 2020

    Fund Quality Breakdown as of Sep 24 2020

    Name Weight
    BBB or Higher 0.24%
    BB 53.29%
    B 33.44%
    CCC or Lower 13.02%
    Not Rated 0.01%

    Index Quality Breakdown as of Sep 24 2020

    Name Weight
    BBB or Higher 0.46%
    BB 54.39%
    B 32.34%
    CCC or Lower 12.81%

    Maturity Ladder

    Maturity Ladder
    Fund Maturity Ladderas of Sep 24 2020
    Index Maturity Ladderas of Sep 24 2020

    Fund Maturity Ladder as of Sep 24 2020

    Name Weight
    0 - 1 Year 0.83%
    1 - 2 Years 4.96%
    2 - 3 Years 9.87%
    3 - 5 Years 26.94%
    5 - 7 Years 28.33%
    7 - 10 Years 20.65%
    10 - 15 Years 3.16%
    15 - 20 Years 2.14%
    20 - 30 Years 2.81%
    > 30 Years 0.07%

    Index Maturity Ladder as of Sep 24 2020

    Name Weight
    1 - 2 Years 5.26%
    2 - 3 Years 8.87%
    3 - 5 Years 27.26%
    5 - 7 Years 28.46%
    7 - 10 Years 21.74%
    10 - 15 Years 3.71%
    15 - 20 Years 2.04%
    20 - 30 Years 2.53%
    > 30 Years 0.09%

    Purchase Information

    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.


    Fund Footnotes

    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.

    The ICE BofA US High Yield Index 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.

    Effective April 1, 2019, the Fund's benchmark index changed from the ICE BofAML US Diversified Crossover Corporate Index (the “Previous Benchmark Index”) to the ICE BofA US High Yield Index, consistent with a change in the Fund's principal investment strategy to track the performance of the new index.

    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.