SPDR® Portfolio Intermediate Term Treasury ETF
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Key Features
- The SPDR® Portfolio Intermediate Term Treasury ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg Barclays 3-10 Year U.S. Treasury Index (the "Index")
- One of the low cost core SPDR Portfolio ETFs, a suite of portfolio building blocks designed to provide broad, diversified exposure to core asset classes
- A low cost ETF that seeks to provide a exposure to U.S. Treasuries that have a remaining maturity between 3 and 10 years
- May be less sensitive to interest rate fluctuations than vehicles with longer duration
Fund Information
| Ticker Symbol | SPTI | |
| Primary Benchmark | Bloomberg Barclays 3-10 Year U.S. Treasury Index | |
| CUSIP | 78464A672 | |
| Options Available | No | |
| Gross Expense Ratio | 0.06% | |
| Inception Date | 05/23/2007 | |
| Investment Manager | SSGA Funds Management, Inc. | |
| Management Team | Global Fixed Income, Cash and Currency | |
| Distributor | State Street Global Advisors Funds Distributors, LLC | |
| Distribution Frequency | Monthly | |
| Exchange | NYSE ARCA EXCHANGE |
Fund Characteristics
Yields
| 30 Day SEC Yield | 1.65% | |
| Fund Dividend Yield | 2.03% |
Index Characteristics
| Average Coupon | 2.34% | |
| Average Maturity in Years | 5.59 | |
| Average Price | $103.62 | |
| Average Yield To Worst | 1.67% | |
| Current Yield | 2.23% | |
| Number of Holdings | 112 | |
| Option Adjusted Duration | 5.18 years | |
| Option Adjusted Spread | -.64 | |
| Yield To Maturity | 1.67% |
Fund Documents
Fund Performance
| MONTH END As of 11/30/2019 | QUARTER END As of 09/30/2019 | |
|---|---|---|
| 1 Month | -0.40% | -0.68% |
| QTD | -0.15% | 1.61% |
| YTD | 6.61% | 6.77% |
| 1 Year | 8.75% | 9.87% |
| 3 Year | 3.16% | 2.44% |
| 5 Year | 2.25% | 2.53% |
| 10 Year | 2.34% | 2.51% |
| Inception | 3.37% | 3.43% |
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.
The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Fund Characteristics
Fund Market Price
| Bid/Ask | $31.08 | |
| Closing Price | $31.08 | |
| Day High | $31.08 | |
| Day Low | $31.03 | |
| Exchange Volume (shares) | 36,229 | |
| Premium/Discount | 0.01% |
Yields
| 30 Day SEC Yield | 1.65% | |
| Fund Dividend Yield | 2.03% |
Fund Net Asset Value
| NAV | $31.07 | |
| Shares Outstanding | 32.70 M | |
| Total Net Assets | $1,016.03 M |
Index Characteristics
| Average Coupon | 2.34% | |
| Average Maturity in Years | 5.59 | |
| Average Price | $103.62 | |
| Average Yield To Worst | 1.67% | |
| Current Yield | 2.23% | |
| Number of Holdings | 112 | |
| Option Adjusted Duration | 5.18 years | |
| Option Adjusted Spread | -.64 | |
| Yield To Maturity | 1.67% |
Fund Net Cash Amount
| Net Cash Amount | $4,919,318.74 |
Purchase Information
Buying and Selling ETFs
ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.
ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.
Ordinary brokerage commissions apply.
Performance Chart
| Fund Before Tax Fund After Tax | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Annualized | |||||||||
| As of | 1 Month | QTD | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception 05/23/2007 |
|
| Month End | |||||||||
| NAV | 11/30/2019 | -0.40% | -0.15% | 6.61% | 8.75% | 3.16% | 2.25% | 2.34% | 3.37% |
| Market Value | 11/30/2019 | -0.44% | -0.15% | 6.61% | 8.71% | 3.20% | 2.26% | 2.34% | 3.37% |
| Return after Taxes on Distributions | 11/30/2019 | -0.46% | -0.28% | 5.86% | 7.81% | 2.39% | 1.58% | 1.67% | 2.61% |
| Return after Taxes on Distributions and Sale of Fund Shares | 11/30/2019 | -0.24% | -0.09% | 3.90% | 5.16% | 2.08% | 1.42% | 1.53% | 2.33% |
| Bloomberg Barclays 3-10 Year U.S. Treasury Index | 11/30/2019 | -0.40% | -0.14% | 6.66% | 8.81% | 3.24% | 2.34% | 2.44% | 3.46% |
| Quarter End | |||||||||
| NAV | 09/30/2019 | -0.68% | 1.61% | 6.77% | 9.87% | 2.44% | 2.53% | 2.51% | 3.43% |
| Market Value | 09/30/2019 | -0.72% | 1.65% | 6.77% | 9.89% | 2.45% | 2.52% | 2.50% | 3.43% |
| Return after Taxes on Distributions | 09/30/2019 | -0.75% | 1.40% | 6.15% | 8.89% | 1.69% | 1.87% | 1.84% | 2.67% |
| Return after Taxes on Distributions and Sale of Fund Shares | 09/30/2019 | -0.40% | 0.95% | 4.00% | 5.81% | 1.52% | 1.64% | 1.67% | 2.38% |
| Bloomberg Barclays 3-10 Year U.S. Treasury Index | 09/30/2019 | -0.68% | 1.61% | 6.81% | 9.94% | 2.52% | 2.62% | 2.61% | 3.52% |
| Fund Before Tax Fund After Tax | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Annualized | |||||||||
| As of | 1 Month | QTD | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception 05/23/2007 |
|
| Month End | |||||||||
| NAV | 11/30/2019 | -0.40% | -0.15% | 6.61% | 8.75% | 3.16% | 2.25% | 2.34% | 3.37% |
| Market Value | 11/30/2019 | -0.44% | -0.15% | 6.61% | 8.71% | 3.20% | 2.26% | 2.34% | 3.37% |
| Return after Taxes on Distributions | 11/30/2019 | -0.46% | -0.28% | 5.86% | 7.81% | 2.39% | 1.58% | 1.67% | 2.61% |
| Return after Taxes on Distributions and Sale of Fund Shares | 11/30/2019 | -0.24% | -0.09% | 3.90% | 5.16% | 2.08% | 1.42% | 1.53% | 2.33% |
| Bloomberg Barclays 3-10 Year U.S. Treasury Index | 11/30/2019 | -0.40% | -0.14% | 6.66% | 8.81% | 3.24% | 2.34% | 2.44% | 3.46% |
| Quarter End | |||||||||
| NAV | 09/30/2019 | -0.68% | 1.61% | 6.77% | 9.87% | 2.44% | 2.53% | 2.51% | 3.43% |
| Market Value | 09/30/2019 | -0.72% | 1.65% | 6.77% | 9.89% | 2.45% | 2.52% | 2.50% | 3.43% |
| Return after Taxes on Distributions | 09/30/2019 | -0.75% | 1.40% | 6.15% | 8.89% | 1.69% | 1.87% | 1.84% | 2.67% |
| Return after Taxes on Distributions and Sale of Fund Shares | 09/30/2019 | -0.40% | 0.95% | 4.00% | 5.81% | 1.52% | 1.64% | 1.67% | 2.38% |
| Bloomberg Barclays 3-10 Year U.S. Treasury Index | 09/30/2019 | -0.68% | 1.61% | 6.81% | 9.94% | 2.52% | 2.62% | 2.61% | 3.52% |
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.
The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Gross Expense Ratio: 0.06%
Performance Graphs
Month End as of 11/30/2019
Fund Inception Date: 05/23/2007
Index Inception Date: 01/01/1973
Quarter End as of 09/30/2019
Fund Inception Date: 05/23/2007
Index Inception Date: 01/01/1973
Fund Top Holdings
| Name | Weight | Market Value | ISIN |
|---|---|---|---|
| US TREASURY N/B 2.875 08/15/2028 | 2.05 % | 20,748,208.72 | US9128284V99 |
| US TREASURY N/B 2.625 02/15/2029 | 1.99 % | 20,119,947.76 | US9128286B18 |
| US TREASURY N/B 3.125 11/15/2028 | 1.82 % | 18,370,511.21 | US9128285M81 |
| US TREASURY N/B 2.125 05/15/2025 | 1.81 % | 18,315,972.16 | US912828XB14 |
| US TREASURY N/B 2.875 05/15/2028 | 1.78 % | 17,973,102.41 | US9128284N73 |
| US TREASURY N/B 2.5 05/15/2024 | 1.76 % | 17,737,328.00 | US912828WJ58 |
| US TREASURY N/B 2.375 05/15/2029 | 1.75 % | 17,678,607.60 | US9128286T26 |
| US TREASURY N/B 2.25 11/15/2027 | 1.73 % | 17,477,607.06 | US9128283F58 |
| US TREASURY N/B 2.25 11/15/2025 | 1.67 % | 16,861,355.52 | US912828M565 |
| US TREASURY N/B 2.25 02/15/2027 | 1.63 % | 16,453,010.52 | US912828V988 |
Index Top Holdings
| Name | Weight | isin |
|---|---|---|
| US TREASURY N/B 3.125 11/15/2028 | 1.91 % | US9128285M81 |
| US TREASURY N/B 2.625 02/15/2029 | 1.84 % | US9128286B18 |
| US TREASURY N/B 2.375 05/15/2029 | 1.82 % | US9128286T26 |
| US TREASURY N/B 2.875 08/15/2028 | 1.81 % | US9128284V99 |
| US TREASURY N/B 2.875 05/15/2028 | 1.74 % | US9128284N73 |
| US TREASURY N/B 1.625 08/15/2029 | 1.72 % | US912828YB05 |
| US TREASURY N/B 2.75 02/15/2028 | 1.66 % | US9128283W81 |
| US TREASURY N/B 2.125 03/31/2024 | 1.63 % | US912828W713 |
| US TREASURY N/B 2 05/31/2024 | 1.62 % | US912828XT22 |
| US TREASURY N/B 2.375 08/15/2024 | 1.59 % | US912828D564 |
Fund Sector Allocation
Index Sector Allocation
Fund Quality Breakdown
Quality Breakdown
Bloomberg Barclay's uses an evenly weighted blend of a security's Moody's, S&P, and Fitch rating rounded down to the lower rating in the case of the composite being between two ratings. In the case where a security has no rating, an issuer rating may be used to determine index classification. Bloomberg Barclays Index breakdowns are grouped into larger categories. For example, AAA+ and AAA are listed as Aaa; AA1, AA2, and AA3 are listed as Aa, etc.
Quality Breakdown
Bloomberg Barclay's uses an evenly weighted blend of a security's Moody's, S&P, and Fitch rating rounded down to the lower rating in the case of the composite being between two ratings. In the case where a security has no rating, an issuer rating may be used to determine index classification. Bloomberg Barclays Index breakdowns are grouped into larger categories. For example, AAA+ and AAA are listed as Aaa; AA1, AA2, and AA3 are listed as Aa, etc.
| Aaa | 100.00% |
Index Quality Breakdown
Quality Breakdown
Bloomberg Barclay's uses an evenly weighted blend of a security's Moody's, S&P, and Fitch rating rounded down to the lower rating in the case of the composite being between two ratings. In the case where a security has no rating, an issuer rating may be used to determine index classification. Bloomberg Barclays Index breakdowns are grouped into larger categories. For example, AAA+ and AAA are listed as Aaa; AA1, AA2, and AA3 are listed as Aa, etc.
Quality Breakdown
Bloomberg Barclay's uses an evenly weighted blend of a security's Moody's, S&P, and Fitch rating rounded down to the lower rating in the case of the composite being between two ratings. In the case where a security has no rating, an issuer rating may be used to determine index classification. Bloomberg Barclays Index breakdowns are grouped into larger categories. For example, AAA+ and AAA are listed as Aaa; AA1, AA2, and AA3 are listed as Aa, etc.
| Aaa | 100.00% |
Fund Maturity Ladder
| 0 - 1 Year | 0.04% |
| 3 - 5 Years | 48.51% |
| 5 - 7 Years | 31.05% |
| 7 - 10 Years | 20.41% |
Index Maturity Ladder
| 3 - 5 Years | 48.92% |
| 5 - 7 Years | 30.60% |
| 7 - 10 Years | 20.48% |
Fund Documents
Tax Documents
Reports & Schedules
Tax Documents
Commentary
Education
In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.
After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.
As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.
Unless otherwise noted all information contained herein is that of the SPDR Portfolio Intermediate Term Treasury ETF.
BLOOMBERG®, a trademark and service mark of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a trademark and service mark of Barclays Bank Plc, have each been licensed for use in connection with the listing and trading of the SPDR Bloomberg Barclays ETFs.
*The Bloomberg Barclays 3-10 Year U.S. Treasury Index reflects linked performance returns of both the Bloomberg Barclays 3-10 Year U.S. Treasury Index and the Bloomberg Barclays Intermediate U.S. Treasury Index. The index returns are reflective of the Bloomberg Barclays Intermediate U.S. Treasury Index from fund inception until 4/30/2018 and of the Bloomberg Barclays 3-10 Year U.S. Treasury Index effective 4/30/2018.
Prior to 09/23/2019, the SPDR® Portfolio Intermediate Term Treasury ETF was known as the SPDR® Bloomberg Barclays Intermediate Term Treasury ETF.
Prior to 09/23/2019, the ticker for SPTI was ITE.
Global Fixed Income, Cash and Currency
Joanna Madden is a Vice President at State Street Global Advisors and a Portfolio Manager in the Fixed Income Beta Solutions team since 2013.
Previously, she was a Portfolio Manager within the US Cash Management Group responsible for short term liquidity investments across all the cash and securities lending portfolios managed in Boston. She joined the Boston group in April 2010 after working as a Portfolio Manager with the London Cash Management Group.
Prior to her portfolio management role, she was a Product Analyst for the London Cash Management Group where she provided analytical and business support. Before joining SSGA in London, Joanna worked as an Operations Specialist supporting the Boston Cash Management Group.
Joanna received a Bachelor of Science degree in Political Science from Loyola University of Chicago, Illinois.
Cindy is a Principal at State Street Global Advisors, and a Portfolio Manager in the Fixed Income Beta Solutions group. She is responsible for managing government bond strategies. Previously, she was an analyst in the Government Solutions team, where she was responsible for credit surveillance of housing finance agency bonds. Cindy's other prior roles at State Street include work as an analyst in the Stable Value team, the Global Structured Products group, as well as the mutual funds division.
Cindy holds a BA in Quantitative Economics from Tufts University.
Orhan is a Vice President and a Senior Portfolio Manager for LDI & Multi-Sector Strategies with the Global Fixed Income, Cash & Currency (FICC) team at SSGA. Orhan is also a Senior Portfolio Manager with the Fixed Income Beta Solutions group with responsibilities for managing several fixed income funds and ETFs including Global Rates/Inflation, US Core and Credit portfolios. He is a member of the Technical Committee which oversees all SSGA's quantitative investment research.
Prior to joining SSGA in 2017, Orhan held several roles during his tenure at Columbia Threadneedle Investments. Most recently, he was a Senior Portfolio Manager and Head of LDI & Inflation Solutions with responsibilities for overall Fixed Income Strategy and Solutions for the Multi-Asset team. Orhan was a portfolio manager on a diverse line-up of mutual funds and institutional strategies including Global Rates/Inflation, Real Return and firm's flagship Global Macro & Risk Parity strategies. Previously, Orhan worked as a Senior Quantitative Strategist for the Investment Strategies Group at Bank of America/Merrill Lynch. Before that, he was a Senior Financial Engineer at Algorithmics (now part of IBM). He has also worked as a Researcher at General Electric's Global Research and has been a member of the investment community since 2005.
Orhan received his M.S. and Ph.D. degrees in Electrical and Computer Engineering from the University of Illinois at Urbana-Champaign. He is a member of the Boston Security Analysts Society and holds the Chartered Financial Analyst designation.
April currently works as a Junior Portfolio Manager on SSGA's Cash Management Team where she focuses on Rates portfolios. Previously, April worked as a Fixed Income Portfolio Specialist where she served as a subject matter expert by providing clients, prospects and consultants with time sensitive information about the investment philosophy, process, and performance of specific Global Fixed Income products.
Prior to her time at SSGA, April was a member of State Street's Professional Development Program, focusing on Data and Analytics.
April studied International Business, Finance, Marketing and Spanish at Northeastern University, graduating summa cum laude.
