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SPDR Portfolio High Yield Bond ETF

ETF
SPHY
Payout Change
Pending
Price as of:
$23.29 -0.18 -0.77%
primary theme
High Yield Bond
SPHY (ETF)

SPDR Portfolio High Yield Bond ETF

Payout Change
Pending
Price as of:
$23.29 -0.18 -0.77%
primary theme
High Yield Bond
SPHY (ETF)

SPDR Portfolio High Yield Bond ETF

Payout Change
Pending
Price as of:
$23.29 -0.18 -0.77%
primary theme
High Yield Bond

Name

As of 12/19/2024

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 Portfolio High Yield Bond ETF

SPHY | ETF

$23.29

$6.41 B

7.45%

$1.74

0.05%

Vitals

YTD Return

7.7%

1 yr return

7.9%

3 Yr Avg Return

3.1%

5 Yr Avg Return

4.3%

Net Assets

$6.41 B

Holdings in Top 10

11.0%

52 WEEK LOW AND HIGH

$23.5
$22.82
$24.07

Expenses

OPERATING FEES

Expense Ratio 0.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 54.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 12/19/2024

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 Portfolio High Yield Bond ETF

SPHY | ETF

$23.29

$6.41 B

7.45%

$1.74

0.05%

SPHY - Profile

Distributions

  • YTD Total Return 7.7%
  • 3 Yr Annualized Total Return 3.1%
  • 5 Yr Annualized Total Return 4.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.25%
DIVIDENDS
  • Dividend Yield 7.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SPDR Portfolio High Yield Bond ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Jun 18, 2012
  • Shares Outstanding
    27000000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Brunell

Fund Description

In seeking to track the performance of the ICE BofA US High Yield Index (the “Index”), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, either may invest the Fund's assets in a subset of securities in the Index or may invest the Fund's assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index, as determined by the Adviser to be in the best interest of the Fund in pursuing its objective.Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index and in securities that the Adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Index. In addition, in seeking to track the Index, the Fund may invest in debt securities that are not included in the Index. The Fund may also invest in cash and cash equivalents or money market instruments (including money market funds advised by the Adviser) for cash management purposes. In seeking to track the Index, the Fund's assets may be concentrated in an industry or group of industries, but only to the extent that the Index concentrates in a particular industry or group of industries. The Fund may use derivatives, including credit default swaps and credit default index swaps, to obtain investment exposure that the Adviser expects to correlate closely with the Index, or a portion of the Index, and in managing cash flows.The Index 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 Ratings 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. Qualifying corporate issuers must have risk exposure to an FX-G10 or Western European country, or a territory of the United States or a Western European country. As of July 31, 2024, the FX-G10 includes all Eurozone members, the United States, Japan, the United Kingdom, Canada, Australia, New Zealand, Switzerland, Norway and Sweden. Securities included in the Index may include securities that are subject to restrictions on resale under the U.S. federal securities laws (“restricted securities”).The Index is market capitalization weighted, and is rebalanced on the last calendar day of the month based on information available up to and including the third business day before the last business day of the month. As of August 31, 2024, a significant portion of the Fund comprised companies in the consumer cyclical sector, although this may change from time to time. As of July 31, 2024, there were approximately 1,858 securities in the Index.The Index is sponsored by ICE Data Indices, LLC (the “Index Provider”), which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index.
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SPHY - Performance

Return Ranking - Trailing

Period SPHY Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -8.0% 17.4% 49.34%
1 Yr 7.9% -8.2% 18.4% 58.55%
3 Yr 3.1%* -14.5% 21.2% 35.92%
5 Yr 4.3%* -11.8% 36.7% 21.39%
10 Yr 4.5%* -4.7% 20.2% 34.28%

* Annualized

Return Ranking - Calendar

Period SPHY Return Category Return Low Category Return High Rank in Category (%)
2023 4.7% -4.7% 14.3% 65.85%
2022 -15.9% -33.4% 3.6% 57.21%
2021 0.3% -8.4% 8.2% 39.59%
2020 0.5% -13.2% 302.7% 37.94%
2019 6.8% -4.4% 13.3% 67.94%

Total Return Ranking - Trailing

Period SPHY Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -8.0% 17.4% 49.34%
1 Yr 7.9% -8.2% 18.4% 58.55%
3 Yr 3.1%* -14.5% 21.2% 35.92%
5 Yr 4.3%* -11.8% 36.7% 21.39%
10 Yr 4.5%* -4.7% 20.2% 34.28%

* Annualized

Total Return Ranking - Calendar

Period SPHY Return Category Return Low Category Return High Rank in Category (%)
2023 12.8% -4.7% 18.7% 32.68%
2022 -10.6% -33.4% 47.8% 47.93%
2021 5.6% -8.4% 12.4% 37.18%
2020 6.6% -9.6% 325.6% 26.06%
2019 13.2% -3.8% 19.4% 59.93%

SPHY - Holdings

Concentration Analysis

SPHY Category Low Category High SPHY % Rank
Net Assets 6.41 B 3.13 M 25.3 B 10.80%
Number of Holdings 1908 2 3879 0.99%
Net Assets in Top 10 589 M -492 M 5.25 B 13.65%
Weighting of Top 10 11.05% 4.2% 146.0% 68.75%

Top 10 Holdings

  1. State Street Navigator Securities Lending Portfolio II 8.66%
  2. Cloud Software Group Inc 0.32%
  3. Medline Borrower LP 0.30%
  4. HUB International Ltd 0.27%
  5. DISH Network Corp 0.27%
  6. Directv Financing LLC / Directv Financing Co-Obligor Inc 0.26%
  7. Venture Global LNG Inc 0.24%
  8. United Airlines Inc 0.24%
  9. Panther Escrow Issuer LLC 0.24%
  10. Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC 0.24%

Asset Allocation

Weighting Return Low Return High SPHY % Rank
Bonds 		98.76% 0.00% 145.36% 7.69%
Cash 		8.73% -52.00% 48.02% 13.32%
Convertible Bonds 		1.20% 0.00% 17.89% 44.57%
Stocks 		0.00% 0.00% 97.54% 72.18%
Preferred Stocks 		0.00% 0.00% 4.97% 90.79%
Other 		0.00% -39.08% 99.86% 82.57%

Stock Sector Breakdown

Weighting Return Low Return High SPHY % Rank
Financial Services 		80.93% 0.00% 100.00% 7.42%
Energy 		19.07% 0.00% 100.00% 54.30%
Utilities 		0.00% 0.00% 100.00% 89.02%
Technology 		0.00% 0.00% 33.17% 91.69%
Real Estate 		0.00% 0.00% 86.71% 89.32%
Industrials 		0.00% 0.00% 93.12% 92.58%
Healthcare 		0.00% 0.00% 22.17% 89.02%
Communication Services 		0.00% 0.00% 99.99% 95.55%
Consumer Defense 		0.00% 0.00% 100.00% 89.61%
Consumer Cyclical 		0.00% 0.00% 100.00% 91.10%
Basic Materials 		0.00% 0.00% 100.00% 90.21%

Stock Geographic Breakdown

Weighting Return Low Return High SPHY % Rank
US 		0.00% 0.00% 97.54% 70.39%
Non US 		0.00% -0.01% 0.83% 88.16%

Bond Sector Breakdown

Weighting Return Low Return High SPHY % Rank
Corporate 		99.27% 0.00% 100.00% 5.44%
Cash & Equivalents 		8.73% 0.00% 48.02% 12.17%
Derivative 		0.00% -14.58% 42.26% 76.64%
Securitized 		0.00% 0.00% 97.24% 93.41%
Municipal 		0.00% 0.00% 1.17% 87.15%
Government 		0.00% 0.00% 99.07% 90.28%

Bond Geographic Breakdown

Weighting Return Low Return High SPHY % Rank
US 		98.76% 0.00% 126.57% 4.93%
Non US 		0.00% 0.00% 96.91% 91.94%

SPHY - Expenses

Operational Fees

SPHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.05% 0.02% 38.33% 99.67%
Management Fee 0.05% 0.00% 1.75% 1.15%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

SPHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SPHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

SPHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 54.00% 1.00% 255.00% 32.55%

SPHY - Distributions

Dividend Yield Analysis

SPHY Category Low Category High SPHY % Rank
Dividend Yield 7.45% 0.00% 11.76% 5.72%

Dividend Distribution Analysis

SPHY Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

SPHY Category Low Category High SPHY % Rank
Net Income Ratio 5.25% -2.39% 9.30% 12.90%

Capital Gain Distribution Analysis

SPHY Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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SPHY - Fund Manager Analysis

Managers

Michael Brunell

Start Date

Tenure

Tenure Rank

Jun 18, 2012

9.96

10.0%

Mike Brunell, CFA, is a Vice President of SSGA and has been a member of the Fixed Income portfolio management team since 2004. In his current role as part of the Beta Solutions Group, he is responsible for developing and managing various funds and ETFs against a variety of conventional and custom bond index strategies. Previously, Mr. Brunell was responsible for managing the U.S. Bond Operations group which he had been a member of since 1997. He started his career in the investment management field when he joined the Mutual Fund Custody division of State Street in 1993. In this role he focused on the accounting and the valuation of various domestic and international equity and bond portfolios. Mr. Brunell earned a BS in Business Administration from Saint Michael's College and a MSF degree from Boston College. Additionally he earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute and the Boston Securities Analyst Society.

Kyle Kelly

Start Date

Tenure

Tenure Rank

Jun 04, 2013

8.99

9.0%

Kyle Kelly, CFA, FRM, is a Vice President of SSGA and a Portfolio Manager in the Fixed Income Beta Solutions Group where he manages high yield and investment grade credit ETFs and separate accounts since 2012. Prior to joining the portfolio management team, he worked as an investment risk management analyst focused on SSGA's fixed income and multi-asset-class products. Mr. Kelly graduated from Boston College with a Bachelor of Arts in Communication and Economics. He earned the Chartered Financial Analyst (CFA) designation and the Financial Risk Manager (FRM) designation. He is a member of the CFA Institute, CFA Society Boston, Inc., and the Global Association of Risk Professionals. He began his investment career in 2007 and has a BA from Boston College.

Bradley Sullivan

Start Date

Tenure

Tenure Rank

Oct 31, 2015

6.59

6.6%

Bradley Sullivan, CFA, is a Vice President of SSGA and SSGA Inc and a Senior Portfolio Manager in the Fixed Income Beta Solutions Group within the Global Fixed Income, Cash and Currency Team where he manages corporate credit beta portfolios for ETFs, commingled funds and separately managed accounts. Prior to joining SSGA, Mr. Sullivan was a senior research analyst at State Street Bank and Trust where he covered the healthcare, pharmaceutical, chemicals, retail and power/utilities sectors for the corporate credit and leveraged loan portfolios.Prior to joining State Street, Mr. Sullivan was the assistant portfolio manager in the Leveraged Finance Group for MetLife Investments. The team managed more than $12 billion across leveraged loan and high yield credit portfolios on a total return mandate. Mr. Sullivan joined MetLife Investments in 2007 as a credit research analyst covering the corporate healthcare, technology, and beverage sectors within the Global Fixed Income Research Group. In 2003, Mr. Sullivan received his formal credit training in the Brown Brothers Harriman Banking Analyst Program in Boston on the Medical Technology Team. Mr. Sullivan earned his Bachelor of Science in Accounting and Finance from Tulane University and a Master of Business Administration from the Colgate Darden Graduate School of Business at the University of Virginia. Mr. Sullivan has earned the Chartered Financial Analyst (CFA) designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.31 8.17

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