JNK

SPDR Bloomberg High Yield Bond ETF

SPDR Barclays High Yield Bond ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the price and yield of the Barclays High Yield Very Liquid Bond Index.


Corporate

FIXED INCOME

Passive

MANAGEMENT STYLE

40 bp

EXPENSES

$8.5 B

ASSETS UNDER MGMT
Fund Basics
Fund sponsorSSgA Funds Management Inc
CategoryCorporate
Asset classFixed Income
Websitelink...
Inception dateNov 28, 2007
Assets (mns)$8,458
Expense ratio40 bp
Constituent Breakdown
No. of constituents1,143
No. of distinct issuers665
Coverage97%
Fixed/floating rate98% / 2%
Investment grade2%
Inflation protected0%
Non-standard maturity (callable, etc.)99%
Fund Structure
RegulationOpen-End Investment Company
DistributionsMonthly
Taxation1099
Bond selection
WeightingMarket Cap
Smart-betaNo
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
TRANSDIGM, INC. 6.25% 15-MAR-2026 0.4 %
MOZART DEBT MERGER SUB, INC. 3.875% 01-A 0.4 %
TIBCO SOFTWARE INC. 6.5% 31-MAR-2029 0.4 %
AMERICAN AIRLINES, INC. 5.5% 20-APR-2026 0.4 %
DIRECTV FINANCING LLC 5.875% 15-AUG-2027 0.4 %
DISH NETWORK CORPORATION 11.75% 15-NOV-2 0.4 %
CLOUD SOFTWARE GROUP, INC. 9.0% 30-SEP-2 0.4 %
CARNIVAL CORPORATION 5.75% 01-MAR-2027 0.4 %
COLT MERGER SUB, INC. 6.25% 01-JUL-2025 0.3 %
AMERICAN AIRLINES, INC. 5.75% 20-APR-202 0.3 %
Issuer Type Breakdown
Top Issuers
CCO HOLDINGS LLC 2.0 %
FORD MOTOR CREDIT COMPANY LLC 1.8 %
TENET HEALTHCARE CORPORATION 1.3 %
CARNIVAL CORPORATION 1.3 %
AMERICAN AIRLINES, INC. 1.1 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 2.3% 10.7% 9.5% 1.1% 3.0% 3.0% 4.8%
Volatility 5.0% 6.0% 9.6% 8.8% 10.5% 8.6% --
Market Correlations
versus...BetaR-squared
S&P 5000.4572%
MSCI EAFE0.4873%
MSCI Emg Mkts0.3439%
Liquidity Measures
Avg. volume (000)3,146
Turnover0.0%
Avg. Bid/Ask (% of price)0.01%
ADV of underlying (mns)$0
Technical Indicators
Recent close$94.95
30d moving avg.$94.00
Annualized volatility9.7%
Relative strength (RSI)59
Short interest (ETF)5.9%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Credit Quality
Duration
Macaulay Duration
SHORT
MED.
LONG TERM

4.4 yrs


Modified Duration
  ◁ INSENSITIVE
EXTREMELY SENSITIVE ▷  

4.2%


Our analysis shows this fund is likely to be relatively insensitive to changes in interest rates

Interest Rate Sensitivity Analysis
Change
in YTM
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Yields
Disposition of YTM
Distribution Yield (Trailing 12 Months)

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ETF Research Center Fund Rating

The ALTAR Score™ is our measure of an ETF's overall investment merit. For fixed income funds, the Score is an estimate of risk-adjusted yield to maturity (calculation shown below). In effecient markets, the plot of ALTAR Scores™ vs. Duration should resemble the familiar yield curve. Funds that sit above the curve may offer better risk-adjusted returns than those that sit below the curve.


ALTAR Score™

JNK

4.3%

Cat. Avg

4.3%

Fund Category: Corporate

Adj. Yield to Maturity-- bp
Less: Annual "default factor"-- bp
Less: Expenses40 bp
Equals: ALTAR Score™4.3%
ALTAR Score™ vs. Duration (Corporate Bond ETFs)

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
Update
Today's Trading

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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
JNK 40.0 1.1 41.1
Peer Avg. 29.8 15.8 45.6
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .