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SPDR® Portfolio Mortgage Backed Bond ETF

ETF
SPMB
Payout Change
Pending
Price as of:
$21.07 -0.18 -0.85%
primary theme
Intermediate-Term U.S. Treasury Bond
SPMB (ETF)

SPDR® Portfolio Mortgage Backed Bond ETF

Payout Change
Pending
Price as of:
$21.07 -0.18 -0.85%
primary theme
Intermediate-Term U.S. Treasury Bond
SPMB (ETF)

SPDR® Portfolio Mortgage Backed Bond ETF

Payout Change
Pending
Price as of:
$21.07 -0.18 -0.85%
primary theme
Intermediate-Term U.S. Treasury Bond

Name

As of 04/15/2024

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 Mortgage Backed Bond ETF

SPMB | ETF

$21.07

$5.02 B

3.70%

$0.78

0.05%

Vitals

YTD Return

-3.7%

1 yr return

-1.4%

3 Yr Avg Return

-4.0%

5 Yr Avg Return

-1.0%

Net Assets

$5.02 B

Holdings in Top 10

11.0%

52 WEEK LOW AND HIGH

$21.3
$20.11
$22.32

Expenses

OPERATING FEES

Expense Ratio 0.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 37.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/15/2024

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 Mortgage Backed Bond ETF

SPMB | ETF

$21.07

$5.02 B

3.70%

$0.78

0.05%

SPMB - Profile

Distributions

  • YTD Total Return -3.7%
  • 3 Yr Annualized Total Return -4.0%
  • 5 Yr Annualized Total Return -1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.81%
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    SPDR® Portfolio Mortgage Backed Bond ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Jan 27, 2009
  • Shares Outstanding
    175900000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Marc DiCosimo

Fund Description

In seeking to track the performance of the Bloomberg U.S. MBS 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. TBA Transactions (as defined below) are included within the above-noted investment policy. In addition, in seeking to track the Index, the Fund may invest in debt securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser). 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 Index is designed to measure the performance of the U.S. agency mortgage pass-through segment of the U.S. investment grade bond market. The term “U.S. agency mortgage pass-through security” refers to a category of pass-through securities backed by pools of mortgages and issued by one of the following U.S. government-sponsored enterprises: Government National Mortgage Association (“GNMA”); Federal National Mortgage Association (“FNMA”) and Federal Home Loan Mortgage Corporation (“FHLMC”). The Index is formed by grouping the universe of individual fixed rate mortgage backed securities pools into generic aggregates according to the following parameters: (i) agency; (ii) program; (iii) pass-through coupon; and (iv) origination year. Index maturity and liquidity criteria are then applied to these aggregates to determine which qualify for inclusion in the Index. To be included in the Index, securities must be fixed rate, denominated in U.S. dollars, and be part of a cohort that has $1 billion or more of outstanding face value and have a weighted average maturity of at least one year. Excluded from the Index are buydowns, graduated equity mortgages, project loans, manufactured homes (dropped in January 1992), graduated payment mortgages (dropped in January 1995), non-agency (whole loan) securities, jumbo securities, collateralized mortgage obligations, and hybrid adjustable-rate mortgages. The Index is market capitalization weighted and the securities in the Index are updated on the last calendar day of each month. As of July 31, 2023, there were 933 securities in the Index.
Transactions in mortgage pass-through securities may occur through standardized contracts for future delivery in which the exact mortgage pools to be delivered are not specified until a few days prior to settlement, referred to as a “to-be announced transaction” or “TBA Transaction.” In a TBA Transaction, the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount and price. The actual pools delivered generally are determined two days prior to the settlement date. The Fund expects to enter into such contracts on a regular basis, and pending settlement of such contracts, the Fund will invest its assets in liquid, short-term instruments, including shares of money market funds advised by the Adviser or its affiliates.
The Index is sponsored by Bloomberg Index Services Limited (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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SPMB - Performance

Return Ranking - Trailing

Period SPMB Return Category Return Low Category Return High Rank in Category (%)
YTD -3.7% -4.3% 7.1% 87.17%
1 Yr -1.4% -5.0% 28.5% 39.38%
3 Yr -4.0%* -8.4% 9.5% 51.56%
5 Yr -1.0%* -5.8% 3.6% 68.54%
10 Yr 0.6%* -2.2% 3.3% 30.91%

* Annualized

Return Ranking - Calendar

Period SPMB Return Category Return Low Category Return High Rank in Category (%)
2023 1.7% -1.0% 22.1% 19.91%
2022 -14.5% -20.4% -5.8% 78.22%
2021 -3.9% -7.1% 16.6% 75.00%
2020 1.2% -1.3% 8.8% 88.79%
2019 2.8% 0.3% 7.1% 72.04%

Total Return Ranking - Trailing

Period SPMB Return Category Return Low Category Return High Rank in Category (%)
YTD -3.7% -4.3% 7.1% 87.17%
1 Yr -1.4% -5.0% 28.5% 39.38%
3 Yr -4.0%* -8.4% 9.5% 51.56%
5 Yr -1.0%* -5.8% 3.6% 68.54%
10 Yr 0.6%* -2.2% 3.3% 30.91%

* Annualized

Total Return Ranking - Calendar

Period SPMB Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% -0.5% 28.8% 17.26%
2022 -12.1% -18.5% -3.3% 57.33%
2021 -1.5% -4.5% 25.3% 45.00%
2020 4.2% -1.3% 13.0% 75.70%
2019 6.2% 1.8% 11.3% 36.02%

SPMB - Holdings

Concentration Analysis

SPMB Category Low Category High SPMB % Rank
Net Assets 5.02 B 9.43 M 134 B 25.22%
Number of Holdings 2338 18 12663 3.54%
Net Assets in Top 10 527 M 5.49 M 43.7 B 39.82%
Weighting of Top 10 10.98% 6.3% 115.2% 96.46%

Top 10 Holdings

  1. State Street Institutional Liquid Reserves Fund 4.89%
  2. Fannie Mae Pool 0.87%
  3. Freddie Mac Pool 0.77%
  4. Freddie Mac Pool 0.73%
  5. Freddie Mac Pool 0.67%
  6. Fannie Mae Pool 0.64%
  7. Freddie Mac Pool 0.64%
  8. Fannie Mae Pool 0.63%
  9. Fannie Mae Pool 0.59%
  10. Fannie Mae Pool 0.57%

Asset Allocation

Weighting Return Low Return High SPMB % Rank
Bonds 		98.71% 0.08% 167.02% 69.47%
Cash 		4.89% -29.69% 22.63% 30.09%
Stocks 		0.00% 0.00% 96.75% 55.75%
Preferred Stocks 		0.00% 0.00% 0.10% 53.98%
Other 		0.00% -26.81% 18.17% 76.55%
Convertible Bonds 		0.00% 0.00% 3.29% 54.42%

Bond Sector Breakdown

Weighting Return Low Return High SPMB % Rank
Securitized 		96.54% 0.00% 99.79% 3.98%
Cash & Equivalents 		4.89% -29.63% 33.75% 34.07%
Derivative 		0.00% -20.68% 1.69% 70.35%
Corporate 		0.00% 0.00% 9.48% 67.26%
Municipal 		0.00% 0.00% 5.24% 61.95%
Government 		0.00% 0.00% 100.00% 97.35%

Bond Geographic Breakdown

Weighting Return Low Return High SPMB % Rank
US 		98.71% 0.08% 167.02% 69.47%
Non US 		0.00% 0.00% 12.01% 55.31%

SPMB - Expenses

Operational Fees

SPMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.05% 0.03% 3.55% 96.89%
Management Fee 0.04% 0.00% 0.85% 4.42%
12b-1 Fee N/A 0.00% 1.00% 10.40%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

SPMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 4.50% N/A
Deferred Load N/A 1.00% 4.50% N/A

Trading Fees

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

SPMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 3.35% 948.00% 23.94%

SPMB - Distributions

Dividend Yield Analysis

SPMB Category Low Category High SPMB % Rank
Dividend Yield 3.70% 0.00% 4.93% 47.35%

Dividend Distribution Analysis

SPMB Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

SPMB Category Low Category High SPMB % Rank
Net Income Ratio 0.81% -0.80% 2.96% 45.33%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SPMB - Fund Manager Analysis

Managers

Marc DiCosimo

Start Date

Tenure

Tenure Rank

Oct 31, 2013

8.59

8.6%

Marc DiCosimo, CFA is a Vice President of SSGA Funds Management and a Senior Portfolio Manager in the Fixed Income Beta Solutions Group within the Fixed Income, Cash and Currency Team. He joined the firm in 2013 and is responsible for managing a broad range of fixed income strategies. Previously, Mr. DiCosimo worked at Wellington Management as a fixed income portfolio analyst on the Mortgage Backed Securities Team. Mr. DiCosimo has fifteen years of fixed income experience working at Loomis Sayles and Saxon Mortgage Capital. Mr. DiCosimo graduated from the University of Richmond with a degree in Accounting. He is a Chartered Financial Analyst (CFA) and is a member of the CFA Institute and CFA Society Boston, Inc.

Michael Przygoda

Start Date

Tenure

Tenure Rank

Oct 31, 2014

7.59

7.6%

Michael Przygoda, CFA, is a Principal and Vice President of SSgA FM and a Portfolio Manager in the Fixed Income Beta Solutions Group, managing a variety of securitized and custom aggregate bond strategies. Prior to joining the Fixed Income Beta Solutions Group, Mr. Przygoda worked as an MBS Trader and a portfolio analyst in the Government Solutions Team and previously managed the Active Fixed Income Operations Team. Mr. Przygoda received his Bachelor of Arts in Finance from Stonehill College and his Master of Science in Finance from Suffolk University. Mr. Przygoda has earned the Chartered Financial Analyst (CFA) designation and is a member of both CFA Society Boston, Inc. and the CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.11 31.64 8.38 7.35

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