JNK

SPDR Barclays High Yield Bond

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.


6.2%

Current Yield

4.7 years

Macaulay Duration

6.2%

Yield to Maturity

B1

Median Quality

2.6%

ALTAR Score™
Fund Basics
Fund sponsorSSgA Funds Management Inc
CategoryCorporate
Asset classFixed Income
Websitelink...
Inception dateDec 04, 2007
Assets (mns)$9,660
Expense ratio40 bp
Constituent Breakdown
No. of constituents857
No. of distinct issuers520
Coverage99%
Fixed/floating rate96% / 4%
Investment grade1%
Inflation protected0%
Non-standard maturity (callable, etc.)89%
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
ALTICE FRANCE SA 7.375% 01-MAY-2026 0.7 %
SPRINT CORP. 7.875% 15-SEP-2023 0.6 %
TRANSDIGM, INC. 6.25% 15-MAR-2026 0.6 %
CCO HOLDINGS LLC 5.125% 01-MAY-2027 0.4 %
COMMUNITY HEALTH SYSTEMS, INC. 6.25% 31- 0.4 %
ALTICE SA 7.75% 15-MAY-2022 0.4 %
INTELSAT JACKSON HOLDINGS SA 8.5% 15-OCT 0.4 %
VRX ESCROW CORP. 6.125% 15-APR-2025 0.4 %
HCA, INC. 5.375% 01-FEB-2025 0.4 %
ALTICE FINANCING SA 7.5% 15-MAY-2026 0.4 %
Issuer Type Breakdown
Top Issuers
CCO HOLDINGS LLC 1.6 %
CSC HOLDINGS, LLC 1.4 %
VALEANT PHARMACEUTICALS INTERNATIONAL, I 1.2 %
COMMUNITY HEALTH SYSTEMS, INC. 1.1 %
SPRINGLEAF FINANCE CORPORATION 1.0 %
Historical Performance


Standardized Annual Returns (as of 03/31/2019)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
8.1% 6.2% 4.3% 7.6% 3.1% 10.0% 5.5%
Market Correlations
versus...BetaR-squared
S&P 5000.2942%
MSCI EAFE0.3146%
MSCI Emg Mkts0.2030%
Liquidity Measures
Avg. volume (000)15,413
Turnover0.0%
Avg. Bid/Ask (% of price)0.03%
ADV of underlying (mns)$0
Technical Indicators
Recent close$36.11
30d moving avg.$35.82
Annualized volatility4.8%
Relative strength (RSI)70
Short interest (ETF)17.3%
Short interest (underlying)0.0%
Distributions
Total Cost of Ownership Detail
  JNK Difference
Fund expenses -- --
Bid/Ask spread -- --
Round-trip commission -- -- --
Total Cost of Ownership -- -- --

Total Cost of Ownership over Time


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

4.7 yrs


Modified Duration
  ◁ INSENSITIVE
EXTREMELY SENSITIVE ▷  

4.6%


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

Interest Rate Sensitivity Analysis
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Content on this tab for Individual & Professional subscribers only

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

2.6%

Cat. Avg

2.8%

Fund Category: Corporate

Adj. Yield to Maturity-- bp
Less: Annual "default factor"-- bp
Less: Expenses40 bp
Equals: ALTAR Score™2.6%
ALTAR Score™ vs. Duration (Corporate Bond ETFs)

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

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Where to Trade JNK
Commission
on JNK1
# of Commission
-free ETFs2
 
$0.00 2,326
$0.00 2,102
$1.00 54
$4.95 500
$4.95 357
$4.95 114
$6.95 308
$6.95 291
Notes: 1. Commission of $0.00 indicates the fund is on the firm's recently published "Commission Free" list. Non-zero commissions represent each firm's standard commission rate based on our periodic review of firms' websites. Your commission may vary depending on account type and other factors. "Commission Free" ETF trades may be subject to additional requirements including minimum holding periods. 2. Not a complete list. Subject to change.
Portfolio composition files licensed from DTCC. Fundamental data for individual fund constituents sourced from FactSet Research Systems.