SPSB
SPDR Portfolio Short Term Corporate Bond ETF

Price: $31.28
Change: $0.01 (-0.0%)
Category: Corporate Bonds
Last Updated:

Vitals

Analyst Report

The SPDR Portfolio Short Term Corporate Bond ETF (SPSB) tracks an index that offers exposure to investment-grade corporate bonds with a remaining maturity ranging from one to three years. The index includes U.S.-dollar denominated, fixed-rate debt. Some structured notes, floating-rate securities, and private placements are excluded. By investing in shorter-term securities, SPSB reduces interest-rate risk. SPSB might be useful for investors looking to enhance fixed income returns without taking on longer duration, a measure of bond price sensitivity to interest rate changes. Typically bond prices fall when rates rise. Like most SPDR “Portfolio” ETFs, SPSB is priced competitively with ultra-low-cost rivals like the Vanguard Short-Term Corporate Bond ETF (VCSH) and the iShares Short-Term Corporate Bond ETF (IGSB).


Ultra-short debt ETFs are another popular option for investors looking for a relatively safe way to eke out more yield than brokerage sweep accounts or long-term Treasuries. There are several competitors, such as the JPMorgan Ultra-Short Income ETF (JPST), the iShares Ultra Short-Term Bond ETF (ICSH), and the Goldman Sachs Access Ultra Short Bond ETF (GSST).


State Street launched its ultra-low-cost SPDR Portfolio lineup in October 2017 after years of losing market share to cheaper rivals at BlackRock, Schwab, and Vanguard. This was a humiliating setback since State Street essentially founded the modern ETF market in 1993 with the launch of the SPDR S&P 500 ETF Trust (SPY). State Street was late to the ultra-low-cost space — BlackRock launched its low-cost iShares Core series five years earlier — but has pushed hard to make up ground. Many of its SPDR Portfolio funds were renamed and repriced for this purpose. Prior to October 2017, SPSB traded under the name SPDR Bloomberg Barclays Short Term Corporate Bond ETF under the ticker SCPB.

ETF Database Themes

FactSet Classifications

  • Segment Fixed Income: U.S. - Corporate, Broad-based Investment Grade Short-Term
  • Category Corporate, Broad-based
  • Focus Investment Grade
  • Niche Short-Term
  • Strategy Vanilla
  • Weighting Scheme Market Value

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $30.93
  • 52 Week Hi $31.29
  • AUM $7,722.5 M
  • Shares 247.0 M

Historical Trading Data

  • 1 Month Avg. Volume 1,219,574
  • 3 Month Avg. Volume 1,398,780

Alternative ETFs in the ETF Database Corporate Bonds Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SPBO 0.03% $423.2 M 86,777 -0.07%
Largest (AUM) VCIT 0.05% $46.8 B 2 M -0.47%
Most Liquid (Volume) LQD 0.14% $41.9 B 14 M -0.50%
Top YTD Performer IBHF 0.35% $20.5 M 3,791 3.74%

Alternative ETFs in the FactSet Fixed Income: U.S. - Corporate, Broad-based Investment Grade Short-Term Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VCSH 0.05% $42.0 B 2 M 0.27%
Largest (AUM) VCSH 0.05% $42.0 B 2 M 0.27%
Most Liquid (Volume) IGSB 0.06% $25.1 B 3 M 0.34%
Top YTD Performer IGSB 0.06% $25.1 B 3 M 0.34%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

SPSB ETF Database Category Average FactSet Segment Average
Number of Holdings 1123 867 1012
% of Assets in Top 10 6.92% 16.78% 14.43%
% of Assets in Top 15 9.04% 20.38% 16.97%
% of Assets in Top 50 19.91% 37.47% 30.18%

Size Comparison

SPSB ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A N/A N/A
Mid (>2.7B) N/A N/A N/A
Small (>600M) N/A N/A N/A
Micro (<600M) N/A N/A N/A

SPSB Valuation

This section compares the P/E ratio of this ETF to its peers.

SPSB
P/E Ratio
N/A
ETF Database Category Average
P/E Ratio
0.38
FactSet Segment Average
P/E Ratio
N/A

SPSB Dividend

This section compares the dividend yield of this ETF to its peers.

SPSB ETF Database Category Average FactSet Segment Average
Dividend $ 0.02 $ 0.06 $ 0.06
Dividend Date 2021-09-01 N/A N/A
Annual Dividend Rate $ 0.40 $ 0.92 $ 0.68
Annual Dividend Yield 1.27% 2.03% 1.73%

SPSB Fund Flows

View charts featuring ETF fund flow data.

5 Day Net Flows: 15.63 M 1 Month Net Flows: -31.24 M 3 Month Net Flows: 18.79 M 6 Month Net Flows: 259.71 M 1 Year Net Flows: 1.03 B 3 Year Net Flows: 3 B 5 Year Net Flows: 3.62 B 10 Year Net Flows: 7.21 B

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for SPSB on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Corporate Bonds with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity n/a n/a
Expenses n/a n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

SPSB Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

SPSB
Expense Ratio
0.07%
ETF Database Category Average
Expense Ratio
0.17%
FactSet Segment Average
Expense Ratio
0.14%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores
7.7/10
ESG Score
83.16%
Global Percentile
74.26%
Peer Percentile
    • Revenue Exposure to Environmental Impact (%)
      Higher is better, no ESG score impact
    • Severe Environment Controversies (%)
      Lower improves ESG score
    • Sustainable Impact Solutions (%)
      2.51%
      Higher is better, no ESG score impact
    • Weighted Average Carbon Intensity (Tons of CO2e / $M Sales)
      185.75
      Higher is worse, no ESG score impact
    • Fossil Fuel Reserves (%)
      Higher is worse, no ESG score impact
    • High Impact Fossil Fuel Reserves (%)
      Higher is worse, no ESG score impact
    • Water Stress High Risk Business Segment (%)
      Lower improves ESG score
    • Water Stress High Risk Geography (%)
      Lower improves ESG score
    • Water Stress Exposure Moderate (%)
      Lower improves ESG score
    • Water Stress Exposure High (%)
      Lower improves ESG score
    • Water Stress Exposure Low (%)
      Higher improves ESG score
    • Revenue Exposure to Energy Efficiency (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Alternative Energy (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Green Building (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Pollution Prevention (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Water Sustainability (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Social Impact (%)
      Higher is better, no ESG score impact
    • Sustainable Impact Solutions (%)
      2.51%
      Higher is better, no ESG score impact
    • SRI Exclusion Criteria (%)
      7.0%
      Higher is worse, no ESG score impact
    • Revenue Exposure to Affordable Real Estate (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Education (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Major Disease Treatment (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Nutrition (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Sanitation (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to SME Finance (%)
      Higher is better, no ESG score impact
    • Human Rights Norms Violation (%)
      Higher is worse, no ESG score impact
    • Human Rights Norms Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Severe Human Rights Controversies (%)
      Lower improves ESG score
    • Labor Norms Violation (%)
      Higher is worse, no ESG score impact
    • Labor Norms Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Severe Labor Controversies (%)
      Lower improves ESG score
    • Severe Customer Controversies (%)
      Lower improves ESG score
    • Global Compact Compliance Violation (%)
      Higher is worse, no ESG score impact
    • Global Compact Compliance Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Catholic Values Fail (%)
      Higher is worse, no ESG score impact
    • Islamic Non-Compliant (%)
      Higher is worse, no ESG score impact
    • Adult Entertainment Involvement (%)
      Higher is worse, no ESG score impact
    • Alcohol Involvement (%)
      Higher is worse, no ESG score impact
    • Gambling Involvement (%)
      Higher is worse, no ESG score impact
    • Nuclear Power Involvement (%)
      Higher is worse, no ESG score impact
    • Tobacco Involvement (%)
      Higher is worse, no ESG score impact
    • Weapons Involvement (%)
      Higher is worse, no ESG score impact
    • Controversies Weapons Involvement (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Involvement (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Retailer (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Producer (%)
      Higher is worse, no ESG score impact
    • Direct Predatory Lending Involvement (%)
      Higher is worse, no ESG score impact
    • Genetic Engineering Involvement (%)
      Higher is worse, no ESG score impact
    • Severe Governance Controversies (%)
      Lower improves ESG score
    • Board Flag (%)
      Lower improves ESG score
    • Lack of Independent Board Majority (%)
      Lower improves ESG score
    • Board Independence (0-25%) (%)
      Lower improves ESG score
    • Board Independence (25-50%) (%)
      Lower improves ESG score
    • Board Independence (50-75%) (%)
      Higher improves ESG score
    • Board Independence (75-100%) (%)
      Higher improves ESG score
    • No Female Directors (%)
      Lower improves ESG score
    • Three OR More Female Directors (%)
      Higher improves ESG score
    • Females Represent 30% of Directors (%)
      Higher improves ESG score
    • Entrenched Board (%)
      Lower improves ESG score
    • Overboarding (%)
      Lower improves ESG score
    • Negative Director Votes (%)
      Lower improves ESG score
    • Ownership AND Control Flag (%)
      Lower improves ESG score
    • One Share One Vote (%)
      Lower improves ESG score
    • No Annual Director Elections (%)
      Lower improves ESG score
    • Does Not Use Majority Voting (%)
      Lower improves ESG score
    • Significant Votes Against Pay Practices (%)
      Lower improves ESG score
    • Controlling Shareholder (%)
      Lower improves ESG score
    • Controlling Shareholder Concerns (%)
      Lower improves ESG score
    • Cross Shareholdings (%)
      Lower improves ESG score
    • Poison Pill (%)
      Lower improves ESG score
    • Pay Flag (%)
      Lower improves ESG score
    • No Pay Performance Link (%)
      Lower improves ESG score
    • Lack of Internal Pay Equity (%)
      Lower improves ESG score
    • Executive Pay Non-Disclosure (%)
      Lower improves ESG score
    • Accounting Flag (%)
      Lower improves ESG score

SPSB Performance

This section shows how this ETF has performed relative to its peers.

SPSB ETF Database
Category Average
Factset Segment
Average
1 Month Return 0.13% 0.15% 0.10%
3 Month Return 0.29% 0.72% 0.31%
YTD Return 0.35% -0.06% 0.17%
1 Year Return 0.91% 1.45% 0.83%
3 Year Return 10.56% 13.87% 9.48%
5 Year Return 12.89% 10.63% 9.33%

SPSB Price and Volume Chart

Geographic Exposure

The following charts reflect the geographic spread of SPSB's underlying holdings.

Sector Breakdown

Asset Percentage
Corporate 97.48%
Other 1.9%
Open-ended Fund 0.37%
Warrant 0.09%
Bond Sector Percentage
Maturity Percentage
Less Than 1 Year 0.0%
1-3 Years 0.0%
3-5 Years 0.0%
5-7 Years 0.0%
7-10 Years 0.0%
10-15 Years 0.0%
15-20 Years 0.0%
20-30 Years 0.0%
30+ Years 0.0%
Asset Percentage
Corporate 97.48%
Other 1.9%
Open-ended Fund 0.37%
Warrant 0.09%

SPSB Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETFdb.com Category.

5 Day Volatility
56.05%
Rank
17 of 88

20 Day Volatility
0.61%
Rank
77 of 88

50 Day Volatility
0.70%
Rank
74 of 88

200 Day Volatility
0.69%
Rank
75 of 88

Beta
0.06
Rank
76 of 88

Standard Deviation
0.09%
Rank
64 of 78

Technicals

  • 20 Day MA $31.26
  • 60 Day MA $31.25
  • MACD 15 Period 0.01
  • MACD 100 Period 0.04
  • Williams % Range 10 Day 25.00
  • Williams % Range 20 Day 16.54
  • RSI 10 Day 57
  • RSI 20 Day 56
  • RSI 30 Day 55
  • Ultimate Oscillator 80

Bollinger Bands

  • Lower Bollinger (10 Day) $31.26
  • Upper Bollinger (10 Day) $31.29
  • Lower Bollinger (20 Day) $31.23
  • Upper Bollinger (20 Day) $31.29
  • Lower Bollinger (30 Day) $31.21
  • Upper Bollinger (30 Day) $31.29

Support & Resistance

  • Support Level 1 $31.27
  • Support Level 2 $31.25
  • Resistance Level 1 $31.29
  • Resistance Level 2 $31.29

Stochastic

  • Stochastic Oscillator %D (1 Day) 91.09
  • Stochastic Oscillator %D (5 Day) 84.52
  • Stochastic Oscillator %K (1 Day) 81.12
  • Stochastic Oscillator %K (5 Day) 85.57

Financial Advisor Report

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Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETFdb.com. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

Disclosures

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Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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