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SPDR® Portfolio Intermediate Term Corporate Bond ETF SPIB

NAV
$32.23
as of Mar 29 2023
Base Currency
USD
Assets Under Management
$6,401.80 M
as of Mar 29 2023
Gross Expense Ratio
0.04%

Key Features


  • The SPDR® Portfolio Intermediate Term Corporate Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg Intermediate US Corporate Index (the "Index")
  • One of the low cost core SPDR® Portfolio ETFs, a suite of portfolio building block designed to provide broad, diversified exposure to core asset classes
  • A low cost ETF that seeks to offer precise, comprehensive exposure to US corporate bonds that have a maturity greater than or equal to 1 year and less than 10 years
  • The Index includes investment grade, fixed rate, taxable, US dollar denominated debt with $300 million of par outstanding, and is market cap weighted and reconstituted on the last business day of the month

  • About this Benchmark


    The Bloomberg U.S. Intermediate Corporate Bond Index (the "Index") is designed to measure the performance of U.S. corporate bonds that have a maturity of greater than or equal to 1 year and less than 10 years. The Index is a component of the Bloomberg U.S. Corporate Index and includes investment grade, fixed-rate, taxable, U.S. dollar denominated debt with $300 million or more of par amount outstanding, issued by U.S. and non-U.S. industrial, utility, and financial institutions. Subordinated issues, securities with normal call and put provisions and sinking funds, medium-term notes (if they are publicly underwritten), 144A securities with registration rights, and global issues that are SEC-registered are included. Structured notes with embedded swaps or other special features, as well as private placements, floating- rate securities, and Eurobonds are excluded from the Index.


    Fund Information as of Mar 30 2023

    Benchmark Bloomberg U.S. Intermediate Corporate Bond Index
    Inception Date Feb 10 2009
    Options Available No
    Gross Expense Ratio
    0.04%
    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 30 2023

    Exchange Listing Date Trading Currency Ticker CUSIP ISIN
    NYSE ARCA EXCHANGE Feb 11 2009 USD SPIB 78464A375 US78464A3757

    Fund Characteristics as of Mar 29 2023

    Number of Holdings 4,392
    Average Coupon
    3.64%
    Average Maturity in Years
    4.83
    Average Price $93.13
    Average Yield To Worst
    5.29%
    Option Adjusted Duration
    4.09 years
    Option Adjusted Spread 136.32
    Yield to Maturity
    5.29%

    Index Characteristics as of Mar 29 2023

    Number of Holdings 4,645
    Average Coupon 3.52%
    Average Maturity in Years 4.71
    Average Price $93.59
    Average Yield To Worst 5.26%
    Option Adjusted Duration 4.02 years
    Option Adjusted Spread 132.44
    Yield to Maturity 5.27%

    Yields as of Mar 28 2023

    30 Day SEC Yield
    5.29%
    30 Day SEC Yield (Unsubsidized)
    -
    Fund Distribution Yield
    2.90%

    Fund Market Price as of Mar 29 2023

    Bid/Ask
    $32.30
    Closing Price
    $32.30
    Day High $32.30
    Day Low $32.22
    Exchange Volume (Shares)
    1,208,407
    Premium/Discount
    0.19%
    30-Day Median Bid/Ask Spread
    0.03%

    Premium Discount to NAV Graph and Summary

    Number of Days Summary

    Calendar Year 2022
    Days Traded at Premium
    144
    Days Traded at Discount
    107

    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 $42,528,137.28

    Fund Net Asset Value as of Mar 29 2023

    NAV
    $32.23
    Shares Outstanding 198.60 M
    Assets Under Management $6,401.80 M

    Fund Performance

    • Fund Inception Date: Feb 10 2009

    as of Feb 28 2023

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Feb 10 2009
    Fund Before Tax
    NAV Feb 28 2023 -2.01% 0.65% 0.65% -6.36% -1.90% 1.52% 1.83% 3.50%
    Market Value Feb 28 2023 -2.07% 0.61% 0.61% -6.39% -1.84% 1.53% 1.79% 3.50%
    Benchmark
    Feb 28 2023 -1.98% 0.49% 0.49% -6.18% -1.85% 1.58% 1.93% 3.92%
    Fund After Tax
    Return after Taxes on Distributions Feb 28 2023 -2.13% 0.53% 0.53% -7.40% -2.76% 0.48% 0.71% 2.29%
    Return after Taxes on Distributions and Sale of Fund Shares Feb 28 2023 -1.19% 0.39% 0.39% -3.76% -1.78% 0.74% 0.91% 2.23%
    Benchmark
    Feb 28 2023 -1.98% 0.49% 0.49% -6.18% -1.85% 1.58% 1.93% 3.92%

    as of Dec 31 2022

    As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
    Feb 10 2009
    Fund Before Tax
    NAV Dec 31 2022 -0.22% 2.58% -9.68% -9.68% -1.31% 1.06% 1.79% 3.49%
    Market Value Dec 31 2022 -0.29% 2.74% -9.62% -9.62% -1.31% 1.06% 1.74% 3.50%
    Benchmark
    Dec 31 2022 -0.07% 2.72% -9.40% -9.40% -1.22% 1.16% 1.91% 3.93%
    Fund After Tax
    Return after Taxes on Distributions Dec 31 2022 -0.44% 2.13% -10.62% -10.62% -2.17% 0.04% 0.68% 2.28%
    Return after Taxes on Distributions and Sale of Fund Shares Dec 31 2022 -0.13% 1.52% -5.72% -5.72% -1.33% 0.39% 0.88% 2.23%
    Benchmark
    Dec 31 2022 -0.07% 2.72% -9.40% -9.40% -1.22% 1.16% 1.91% 3.93%

    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 Bloomberg U.S. Intermediate Corporate Bond Index and the Bloomberg U.S. Intermediate Credit Index. The index returns are reflective of the Bloomberg U.S. Intermediate Credit Index from fund inception until 12/17/2010 and of the Bloomberg U.S. Intermediate Corporate Bond Index effective 12/17/2010 to present.

    Gross Expense Ratio: 0.04%


    Top Holdings

    as of Mar 29 2023
    as of Mar 29 2023

    Fund Top Holdings as of Mar 29 2023

    Name Market Value ISIN Weight
    JPMORGAN CHASE & CO 5.546 12/15/2025 15,113,082.38 US46647PDM59 0.24%
    BANK OF AMERICA CORP 5.08 01/20/2027 13,134,147.33 US06051GLE79 0.21%
    ORACLE CORP 2.875 03/25/2031 12,865,083.98 US68389XCE31 0.20%
    MORGAN STANLEY 1.512 07/20/2027 12,250,291.90 US61747YEC57 0.19%
    VERIZON COMMUNICATIONS 4.016 12/03/2029 11,425,987.66 US92343VEU44 0.18%
    JOHN DEERE CAPITAL CORP 5.05 03/03/2026 11,120,950.42 US24422EWT27 0.17%
    BANK OF AMERICA CORP 6.204 11/10/2028 11,069,219.47 US06051GLC14 0.17%
    BANK OF AMERICA CORP 5.015 07/22/2033 10,695,367.10 US06051GKY43 0.17%
    INTEL CORP 5.125 02/10/2030 10,559,798.06 US458140CF51 0.16%
    CREDIT SUISSE NEW YORK 3.7 02/21/2025 10,510,070.36 US22550L2H39 0.16%

    Index Top Holdings as of Mar 29 2023

    Name ISIN Weight
    T-MOBILE USA INC 3.875 04/15/2030 US87264ABF12 0.16%
    BANK OF AMERICA CORP 3.419 12/20/2028 US06051GHD43 0.14%
    BANK OF AMERICA CORP 1.734 07/22/2027 US06051GJS93 0.13%
    BOEING CO 2.196 02/04/2026 US097023DG73 0.13%
    ABBVIE INC 3.2 11/21/2029 US00287YBX67 0.12%
    BANK OF AMERICA CORP 5.015 07/22/2033 US06051GKY43 0.12%
    CVS HEALTH CORP 4.3 03/25/2028 US126650CX62 0.12%
    DELL INT LLC / EMC CORP 6.02 06/15/2026 US24703TAD81 0.11%
    BOEING CO 5.15 05/01/2030 US097023CY98 0.11%
    CHARTER COMM OPT LLC/CAP 4.908 07/23/2025 US161175AY09 0.11%

    Sector Allocation

    as of Mar 29 2023
    as of Mar 29 2023

    Fund Sector Breakdown as of Mar 29 2023

    Sector Weight
    CORPORATE - INDUSTRIAL 51.36%
    Corporate - Finance 41.18%
    Corporate - Utility 6.53%
    Cash 0.93%

    Index Sector Breakdown as of Mar 29 2023

    Sector Weight
    CORPORATE - INDUSTRIAL 51.37%
    Corporate - Finance 42.32%
    Corporate - Utility 6.32%

    Quality Breakdown

    as of Mar 29 2023
    as of Mar 29 2023

    Fund Quality Breakdown as of Mar 29 2023

    Name Weight
    AAA 1.47%
    AA1 1.06%
    AA2 0.64%
    AA3 3.79%
    A1 11.81%
    A2 15.31%
    A3 17.26%
    A- 0.03%
    BAA1 15.36%
    BAA2 18.35%
    BAA3 14.86%
    BA1 0.03%
    Not Rated 0.04%

    Index Quality Breakdown as of Mar 29 2023

    Name Weight
    AAA 0.58%
    AA1 1.13%
    AA2 0.73%
    AA3 3.95%
    A1 13.06%
    A2 15.60%
    A3 16.75%
    BAA1 15.32%
    BAA2 18.40%
    BAA3 14.50%

    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 1.06%
    1 - 2 Years 13.19%
    2 - 3 Years 18.20%
    3 - 5 Years 25.48%
    5 - 7 Years 17.71%
    7 - 10 Years 23.88%
    10 - 15 Years 0.43%
    > 30 Years 0.03%

    Index Maturity Ladder as of Mar 29 2023

    Name Weight
    1 - 2 Years 14.66%
    2 - 3 Years 16.37%
    3 - 5 Years 27.31%
    5 - 7 Years 16.51%
    7 - 10 Years 25.15%

    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 Intermediate Term Corporate 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 Bloomberg U.S. Intermediate Corporate Bond Index and the Bloomberg U.S. Intermediate Credit Index. The index returns are reflective of the Bloomberg U.S. Intermediate Credit Index from fund inception until 12/17/2010 and of the Bloomberg U.S. Intermediate Corporate Bond Index effective 12/17/2010 to present.

    "Bloomberg®" and Bloomberg U.S. Intermediate Corporate 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 Portfolio Intermediate Term Corporate Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to SPDR Portfolio Intermediate Term Corporate Bond ETF.

    Prior to 8/24/2021, the Bloomberg U.S. Corporate Bond Index was known as the Bloomberg Barclays U.S. Intermediate Corporate Bond Index.