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SPDR SSGA Ultra Short Term Bond ETF

Active ETF
ULST
Payout Change
Pending
Price as of:
$40.535 +0.01 +0.01%
primary theme
U.S. Ultrashort Bond Duration
ULST (ETF)

SPDR SSGA Ultra Short Term Bond ETF

Payout Change
Pending
Price as of:
$40.535 +0.01 +0.01%
primary theme
U.S. Ultrashort Bond Duration
ULST (ETF)

SPDR SSGA Ultra Short Term Bond ETF

Payout Change
Pending
Price as of:
$40.535 +0.01 +0.01%
primary theme
U.S. Ultrashort Bond Duration

Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

SPDR SSGA Ultra Short Term Bond ETF

ULST | Active ETF

$40.54

$591 M

4.96%

$2.01

0.20%

Vitals

YTD Return

4.7%

1 yr return

5.8%

3 Yr Avg Return

3.7%

5 Yr Avg Return

2.6%

Net Assets

$591 M

Holdings in Top 10

41.9%

52 WEEK LOW AND HIGH

$40.5
$40.24
$40.80

Expenses

OPERATING FEES

Expense Ratio 0.20%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 76.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

SPDR SSGA Ultra Short Term Bond ETF

ULST | Active ETF

$40.54

$591 M

4.96%

$2.01

0.20%

ULST - Profile

Distributions

  • YTD Total Return 4.7%
  • 3 Yr Annualized Total Return 3.7%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.67%
DIVIDENDS
  • Dividend Yield 5.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SPDR SSGA Ultra Short Term Bond ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Oct 09, 2013
  • Shares Outstanding
    9525000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Palmieri

Fund Description

SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”) invests, under normal circumstances, at least 80% of the Fund's net assets (plus the amount of borrowings for investment purposes) in a portfolio of U.S. dollar-denominated investment-grade fixed income securities. Investment-grade fixed income securities are instruments that are rated at the time of purchase BBB- or higher by S&P Global Ratings and/or Fitch Ratings Inc., or Baa3 or higher by Moody's Investors Service, Inc., or, if unrated, determined by the management team to be of equivalent quality. The Fund invests in fixed and floating rate securities of varying maturities, such as corporate obligations (including bonds, commercial paper of U.S. and foreign entities, master notes, and medium term notes); government bonds (including U.S. Treasury Bills, notes, and bonds); agency securities; privately-issued securities; asset-backed and mortgage-backed securities; money market instruments (including U.S. and foreign bank time deposits, certificates of deposit, and banker acceptances); and other investment companies. The Fund may invest up to 10% of the Fund's net assets in high yield securities (commonly known as “junk” bonds). The Fund may also invest in exchange traded products (“ETPs”). ETPs include exchange traded funds registered under the Investment Company Act of 1940, as amended (the “1940 Act”) (“Underlying ETFs”) and exchange traded notes (“ETNs”). In addition, the Fund may invest in certain ETPs that pay fees to the Adviser and its affiliates for management, marketing or other services.Under normal circumstances, the effective duration of the Fund is expected to be one year or less. Effective duration is a measure of the Fund's price sensitivity to changes in yields or interest rates; however, investors should be aware that effective duration is not an exact measurement and may not reliably predict a particular security's price sensitivity to changes in yield or interest rates. In addition, under normal circumstances the Fund expects to maintain a weighted average maturity that is two and a half years or less. Weighted average maturity is a U.S. dollar-weighted average of the remaining term to maturity of the underlying securities in the Fund. For the purposes of determining the Fund's weighted average maturity, a security's final maturity date, or for amortizing securities such as asset-backed and mortgage-backed securities, its weighted average life will be used for calculation purposes. The Adviser buys and sells securities for the Fund based on its analysis of credit quality and overall portfolio duration. The Adviser may also use derivative instruments (primarily futures contracts, interest rate and credit default swaps, and options on treasury futures) to manage yield, interest rate exposure (also known as duration), weighted average maturity, and exposure to credit quality. The Fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share.
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ULST - Performance

Return Ranking - Trailing

Period ULST Return Category Return Low Category Return High Rank in Category (%)
YTD 4.7% -0.5% 7.6% 77.93%
1 Yr 5.8% 1.7% 9.3% 67.14%
3 Yr 3.7%* -1.2% 7.0% 35.61%
5 Yr 2.6%* -0.9% 4.7% 34.74%
10 Yr 2.1%* -4.2% 27.9% 37.19%

* Annualized

Return Ranking - Calendar

Period ULST Return Category Return Low Category Return High Rank in Category (%)
2023 1.0% -2.3% 4.3% 60.09%
2022 -0.8% -6.5% 0.5% 26.21%
2021 -0.3% -2.1% 0.3% 28.50%
2020 0.1% -3.1% 1.8% 67.19%
2019 0.6% -1.2% 6.1% 37.36%

Total Return Ranking - Trailing

Period ULST Return Category Return Low Category Return High Rank in Category (%)
YTD 4.7% -0.5% 7.6% 77.93%
1 Yr 5.8% 1.7% 9.3% 67.14%
3 Yr 3.7%* -1.2% 7.0% 35.61%
5 Yr 2.6%* -0.9% 4.7% 34.74%
10 Yr 2.1%* -4.2% 27.9% 37.19%

* Annualized

Total Return Ranking - Calendar

Period ULST Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% 0.8% 12.1% 64.32%
2022 0.9% -5.1% 2.5% 18.45%
2021 0.3% -2.1% 14.5% 32.50%
2020 1.4% -1.0% 3.6% 59.90%
2019 3.2% 0.3% 9.6% 37.36%

ULST - Holdings

Concentration Analysis

ULST Category Low Category High ULST % Rank
Net Assets 591 M 26.6 K 22.6 B 52.58%
Number of Holdings 147 2 1258 78.40%
Net Assets in Top 10 242 M 27.7 K 22.7 B 43.19%
Weighting of Top 10 41.86% 6.3% 159.6% 16.90%

Top 10 Holdings

  1. State Street Institutional US Government Money Market Fund 12.48%
  2. U.S. Treasury Bills 7.77%
  3. U.S. Treasury Bills 6.91%
  4. U.S. Treasury Notes 3.48%
  5. American Express Credit Account Master Trust 3.06%
  6. Sumitomo Mitsui Financial Group Inc 1.73%
  7. Hyundai Auto Lease Securitization Trust 2023-A 1.73%
  8. US Bancorp 1.72%
  9. Mercedes-Benz Auto Lease Trust 2023-A 1.72%
  10. Huntington Bancshares Inc/OH 1.26%

Asset Allocation

Weighting Return Low Return High ULST % Rank
Bonds 		62.39% 0.00% 129.63% 77.93%
Cash 		28.07% 0.00% 112.72% 7.51%
Other 		9.54% -13.48% 99.96% 51.17%
Convertible Bonds 		4.82% 0.00% 15.25% 30.19%
Stocks 		0.00% 0.00% 97.16% 95.77%
Preferred Stocks 		0.00% 0.00% 0.00% 95.77%

Bond Sector Breakdown

Weighting Return Low Return High ULST % Rank
Corporate 		52.49% 0.00% 99.91% 22.17%
Cash & Equivalents 		27.16% 0.00% 112.72% 7.51%
Securitized 		12.35% 0.00% 100.00% 66.51%
Government 		7.17% 0.00% 100.00% 35.38%
Derivative 		0.02% -13.48% 16.56% 20.19%
Municipal 		0.00% 0.00% 70.39% 98.58%

Bond Geographic Breakdown

Weighting Return Low Return High ULST % Rank
US 		62.39% 0.00% 129.63% 77.93%
Non US 		0.00% 0.00% 20.18% 95.77%

ULST - Expenses

Operational Fees

ULST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.20% 0.08% 29.63% 91.43%
Management Fee 0.20% 0.00% 1.19% 31.92%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

ULST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

ULST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ULST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 76.00% 0.00% 336.00% 61.45%

ULST - Distributions

Dividend Yield Analysis

ULST Category Low Category High ULST % Rank
Dividend Yield 4.96% 0.00% 8.76% 45.54%

Dividend Distribution Analysis

ULST Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

ULST Category Low Category High ULST % Rank
Net Income Ratio 0.67% -1.30% 14.86% 31.71%

Capital Gain Distribution Analysis

ULST Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

ULST - Fund Manager Analysis

Managers

James Palmieri

Start Date

Tenure

Tenure Rank

Feb 01, 2019

3.33

3.3%

James Palmieri, CFA, is a Managing Director of SSGA and the Adviser, a Senior Portfolio Manager, and Head of Structured Credit for the Fundamental Active Fixed Income Team. In his role, he is the lead portfolio manager and trader for the Structured Products Group servicing all total rate of return and insurance accounts managed in Stamford, CT. In addition to his portfolio management responsibilities, Mr. Palmieri is a member of the Fixed Income Currency and Cash Senior Leadership Team, and the Fundamental Active Core and Core Plus Fixed Income Team. He joined SSGA in 2016 through its acquisition of GE Asset Management. Prior to joining SSGA, Mr. Palmieri worked at GE Asset Management for eleven years as a senior portfolio manager and trader for all fixed income total rate of return and insurance accounts for GE. Prior to joining GE Asset Management, he worked at Constitution State Corporate Credit Union for one year as an investment director and CIGNA Investment Management for five years as a fixed income portfolio manager. He received his Bachelor of Science from Central Connecticut State University, is a Chartered Financial Analyst (CFA) charter holder and has twenty years of investment experience.

John Mele

Start Date

Tenure

Tenure Rank

Jun 12, 2019

2.97

3.0%

John Mele is a Vice President of SSGA and SSGA Funds Management Inc and a Senior Portfolio Manager on the Fundamental Active Investment Grade Credit Team. He is responsible for the investment grade credit allocation within several actively managed fixed income strategies. Mr. Mele joined SSGA in 2016 as part of the SSGA acquisition of GE Asset Management (GEAM). He also held roles in Private Equity and Finance while with GEAM. Prior to joining GEAM, Mr. Mele worked at Citigroup as a portfolio manager/research analyst in Citigroup’s Private Client Group. His responsibilities included managing discretionary equity and balanced portfolios for high net worth clients. Mr. Mele’s prior work experience also includes several years in investment management compliance and investment product development. Mr. Mele holds a Bachelor of Science in accounting from the University of Connecticut, a Juris Doctor from Quinnipiac University and a Master of Business Administration with specializations in Economics and Finance from New York University – Stern School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.52 0.13

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