Forgot User ID or Password?

Not Registered?

Sign up now to get full combined access to the SPDRs.com and SPDRU.com content, including advisor education materials and analytical tools.

Go to Registration page »
Home   »   ETFs : SPDR® Barclays Emerging Markets Local Bond ETF (EBND)
EBND

SPDR® Barclays Emerging Markets Local Bond ETF

Fund Objective

The SPDR® Barclays Emerging Markets Local Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays EM Local Currency Government Diversified Index.

Ordinary brokerage commissions may apply.

Fund Information

As of 02/28/2015
Ticker SymbolEBND
Primary BenchmarkBarclays EM Local Currency Government Diversified Index
CUSIP78464A391
Short Selling Allowed

The variable fee is based on the size of the transaction unit, and could be lower than the fee displayed.  For more information, please download the full list of fees found in the Related Items section of this page.  This fee applies only to creation and redemption units, and not to transactions occurring on the secondary market.

Yes
Options AvailableNo
Gross Expense Ratio

The gross expense ratio is the fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

0.50%
Inception Date02/23/2011
Investment ManagerSSgA Funds Management, Inc.
Management TeamEmerging Markets Local Bond ETF Management Team
DistributorState Street Global Markets, LLC
Distribution FrequencyMonthly
ExchangeNYSE ARCA EXCHANGE

Fund Characteristics

As of 02/27/2015
Average Maturity in Years

Average Maturity

The market value-weighted average maturity of the bonds in a portfolio, where maturity is defined as Stated Final for bullet maturity bonds and the average time to receipt of all principal payments for amortizing instruments, including mortgage pass-throughs, CMOs, amortizing asset-backed securities and ARMs.

7.37
Average Price$105.69
Average Spread75.7
Average Yield To Worst *

For callable and/or puttable securities, the minimum value of the yield to maturity, yield to put, and yield to call. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

5.33%
Current Yield *

 Average Current Yield

The market value weighted average current coupon of the bonds in the portfolio divided by current market price of the bonds in the portfolio.

5.36%
Modified Adjusted Duration

Modified Adjusted Duration

An option-adjusted measure of a portfolio's sensitivity to changes in interest rates.  Calculated as the percentage change of a portfolio's value for a 100 basis point change in yield.

5.22 years
Number of Holdings304
Yield To Maturity *

Average Yield to Maturity

The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

5.33%

Yields

As of 02/26/2015
30 Day SEC Yield *

30 Day SEC Yield (Standardized Yield) 

An annualized yield that is calculated by dividing the investment income earned by the fund less expenses over the most recent 30-day period by the current maximum offering price.

4.75%
Fund Dividend Yield

Fund Dividend Yield is the sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

0.00%

Index Characteristics

As of 02/27/2015
Average Maturity in Years7.40
Average Price$106.51
Average Spread82.3
Average Yield To Worst

For callable and/or puttable securities, the minimum value of the yield to maturity, yield to put, and yield to call. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

5.50%
Current Yield

 Average Current Yield

The market value weighted average current coupon of the bonds in the portfolio divided by current market price of the bonds in the portfolio.

5.57%
Modified Adjusted Duration

Modified Adjusted Duration

An option-adjusted measure of a portfolio's sensitivity to changes in interest rates.  Calculated as the percentage change of a portfolio's value for a 100 basis point change in yield.

5.18 years
Number of Holdings426
Yield To Maturity

Average Yield to Maturity

The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

5.50%

Fund Documents

Fund Market Price

As of 02/26/2015
Bid/Ask$27.88
Closing Price$27.93
Day High$27.93
Day Low$27.83
Exchange Volume (shares)13,770
Premium/Discount-0.41%
Premium Discount to Nav Chart

Fund Net Asset Value

NAV

Market value of a mutual fund's and ETF's total assets, minus liabilities, divided by the number of shares outstanding

As of 02/26/2015
Price$27.99
Shares Outstanding3.90 M
Total Net Assets$109.18 M
Most Recent NAV / NAV History XLS

Fund Net Cash Amount

As of 02/26/2015
Net Cash Amount$3,657,271.19

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 Graphs

Month End as of 01/31/2015

Fund Inception Date: 02/23/2011

Index Inception Date: 02/23/2011

<performance fundName="SPDR&lt;sup&gt;®&lt;/sup&gt; Barclays Emerging Markets Local Bond ETF" bmarkName="Barclays EM Local Currency Government Diversified Index"><funds><field>1 Month</field><fund>0.57</fund><index>0.52</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>0.57</fund><index>0.52</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>0.57</fund><index>0.52</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>0.22</fund><index>0.75</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>-0.54</fund><index>0.28</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>1.02</fund><index>1.93</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Quarter End as of 12/31/2014

Fund Inception Date: 02/23/2011

Index Inception Date: 02/23/2011

<performance fundName="SPDR&lt;sup&gt;®&lt;/sup&gt; Barclays Emerging Markets Local Bond ETF" bmarkName="Barclays EM Local Currency Government Diversified Index"><funds><field>1 Month</field><fund>-4.14</fund><index>-4.10</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>QTD</field><fund>-5.05</fund><index>-4.96</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>YTD</field><fund>-4.01</fund><index>-3.40</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>1 YR</field><fund>-4.01</fund><index>-3.40</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>3 YR</field><fund>1.27</fund><index>2.12</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>5 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>10 YR</field><fund></fund><index></index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds><funds><field>Inception</field><fund>0.90</fund><index>1.83</index><secondIndex></secondIndex><tertiaryIndex></tertiaryIndex></funds></performance>

Fund Top Holdings

Subject to change.

As of 02/27/2015
NameWeightMarket ValueISIN
NOTA DO TESOURO NACIONAL 10 01/01/20171.55%1,689,550.83BRSTNCNTF0G9
NOTA DO TESOURO NACIONAL 10 01/01/20211.32%1,439,750.80BRSTNCNTF0N5
LETRA TESOURO NACIONAL 0 07/01/20161.24%1,348,575.38BRSTNCLTN6W5
NOTA DO TESOURO NACIONAL 10 01/01/20231.23%1,337,314.48BRSTNCNTF147
MEX BONOS DESARR FIX RT 4.75 06/14/20181.17%1,267,634.69MX0MGO0000T4
KOREA TREASURY BOND 2.75 09/10/20171.15%1,248,245.95KR1035017295
LETRA TESOURO NACIONAL 0 01/01/20171.09%1,190,924.51BRSTNCLTN6X3
LETRA TESOURO NACIONAL 0 07/01/20181.07%1,169,348.45BRSTNCLTN756
KOREA TREASURY BOND 4.25 06/10/20211.01%1,097,996.46KR1035027161
LETRA TESOURO NACIONAL 0 01/01/20180.94%1,025,476.77BRSTNCLTN723
Download All Holdings XLS

Index Top Holdings

As of 02/27/2015
NameWeightisin
NOTA DO TESOURO NACIONAL 10 01/01/20171.62%BRSTNCNTF0G9
LETRA TESOURO NACIONAL 0 07/01/20161.34%BRSTNCLTN6W5
NOTA DO TESOURO NACIONAL 10 01/01/20211.29%BRSTNCNTF0N5
NOTA DO TESOURO NACIONAL 10 01/01/20231.20%BRSTNCNTF147
LETRA TESOURO NACIONAL 0 01/01/20171.19%BRSTNCLTN6X3
LETRA TESOURO NACIONAL 0 01/01/20181.05%BRSTNCLTN723
MEX BONOS DESARR FIX RT 10 12/05/20241.01%MX0MGO000078
LETRA TESOURO NACIONAL 0 07/01/20180.98%BRSTNCLTN756
TITULOS DE TESORERIA B 10 07/24/20240.96%COL17CT02385
MEX BONOS DESARR FIX RT 4.75 06/14/20180.91%MX0MGO0000T4

Fund Sector Allocation

As of 02/27/2015
<?xml version="1.0" encoding="UTF-8" standalone="yes"?><component><asOfDate>02/27/2015</asOfDate><code>FUND_SECTOR_ALLOCATION</code><attributes><attribute><rawValue>97.997097</rawValue><value>98.00%</value><label>Treasury</label><order>1</order></attribute><attribute><rawValue>1.882533</rawValue><value>1.88%</value><label>Cash</label><order>2</order></attribute><attribute><rawValue>0.12037</rawValue><value>0.12%</value><label>Non Corporates</label><order>3</order></attribute></attributes></component>

Index Sector Allocation

As of 02/27/2015
<?xml version="1.0" encoding="UTF-8" standalone="yes"?><component><asOfDate>02/27/2015</asOfDate><code>BMARK_SECTOR_ALLOCTAION</code><attributes><attribute><rawValue>100.0</rawValue><value>100.00%</value><label>Treasury</label><order>1</order></attribute></attributes></component>

Fund Quality Breakdown

As of 02/27/2015
Aaa1.67%
Aa17.94%
A34.54%
Baa40.38%
Below Baa5.36%
Not Rated0.12%

Index Quality Breakdown

Quality Breakdown

Barclays uses the "middle rating" of Moody's, S&P, and Fitch to determine a security's index classification. If only two of the agencies rate a security, then the most conservative (lowest) rating will be used. If only one rating agency rates a security, that one rating will be used. Where there are no security level ratings, an issuer rating may be used to determine index classification.  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.

As of 02/27/2015
Aa18.15%
A34.81%
Baa41.04%
Below Baa6.00%

Fund Maturity Ladder

As of 02/27/2015
0 - 1 Year2.74%
1 - 2 Years14.41%
2 - 3 Years12.68%
3 - 5 Years18.84%
5 - 7 Years12.25%
7 - 10 Years16.72%
10 - 15 Years9.03%
15 - 20 Years6.15%
20 - 30 Years6.92%
> 30 Years0.27%

Index Maturity Ladder

As of 02/27/2015
1 - 2 Years16.69%
2 - 3 Years12.11%
3 - 5 Years20.28%
5 - 7 Years11.69%
7 - 10 Years17.23%
10 - 15 Years9.18%
15 - 20 Years6.17%
20 - 30 Years5.92%
> 30 Years0.73%

Fund Country Weights

As of 02/27/2015
Brazil12.62%
South Korea12.58%
Mexico10.50%
Thailand6.57%
Poland6.30%
Israel4.77%
Indonesia4.61%
Colombia4.56%
Philippines4.56%
Malaysia4.55%
Turkey4.51%
South Africa4.51%
Czech Republic3.75%
Hungary3.38%
Russia3.07%
Romania2.62%
Nigeria2.44%
Peru2.16%
Chile1.66%
United States0.29%
Egypt0.00%

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.

* There may be differences between the Fund's Dividend Yield and other yield calculations due to the effect of foreign currency gains and losses and foreign taxes within the Fund.

Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

Barclays is a trademark of Barclays, the investment banking division of Barclays Bank PLC ("Barclays") and has been licensed for use in connection with the listing and trading of the SPDR Barclays ETFs. The products are not sponsored by, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of investing in them.

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 in this fact sheet is that of the SPDR Barclays Emerging Markets Local Bond ETF.

Emerging Markets Local Bond ETF Management Team

EMEA Head of Portfolio Management John Patrick Philpot Vice President Show Bio

John is EMEA Head of Portfolio Management, Fixed Income Beta. He is mainly responsible for overseeing a wide range of investment grade mandates, including government, corporate and inflation linked bonds. John also oversees operational activities for the Fixed Income Beta team.

Prior to commencing his current role, John managed a range of broad investment grade and inflation-linked portfolios. Previously John worked as a Senior Portfolio Analyst, also at SSGA.

John earned his BSc (Honours) from the University of London, and has obtained the Investment Management Certificate.

Lead Investment Manager Abhishek Kumar Principal Show Bio

Abhishek is a Lead Investment Manager - Emerging Markets within the Fixed Income Beta group at State Street Global Advisors Limited, having joined the company in September, 2010. He is responsible for the management of broad range of fixed income strategies including corporate and global rates portfolios.

Prior to joining the Investment Management team, Abhishek spent three years at ICICI Bank UK PLC as an Assistant Portfolio Manager.

Abhishek holds a Masters in Management from ESCP Europe Paris, a Post Graduate Diploma in Management from Indian Institute of Management Lucknow, India and a Bachelors degree in Mechanical Engineering from Indian Institute of Technology Kharagpur, India. He is a CFA charterholder and is a member of the CFA Society UK and the CFA Institute.

After Tax Returns

After-tax returns are calculated 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, and the after-tax returns shown are not relevant to investors who hold their fund shres through tad deferred arrangements such as 401(k) plans or individual retiredment accounts. After tax returns may not take into account year end tax adjustments, which are calculated only at the end of each tax year. The after tax returns could differ after year end tax adjustments are accounted for.

Barclays EM Local Currency Government Diversified Index

The Barclays EM Local Currency Government Diversified Index is designed to measure the performance of the fixed-rate local currency sovereign debt of emerging market countries. The Index includes govern-ment bonds issued by countries outside the United States, in local currencies, that have a remaining maturity of one year or more and are rated B3/B-/B- or higher. In addition, the securities in the Index must be fixed-rate and have certain minimum amounts outstanding, depending upon the currency in which the bonds are denominated.

© 2015 State Street Corporation. All Rights Reserved.

© 2015 State Street Corporation. All Rights Reserved.

© 2015 State Street Corporation. All Rights Reserved.

Important Risk Information

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.

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; issuer credit risk; liquidity risk; and inflation risk.

The Fund invests by sampling the Index, holding a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics which may cause the fund to experience tracking errors relative to performance of the Index.

Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets.

Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

Premium Discount to NAV

As of 02/26/2015
Ticker NAV Close Bid/Ask Mid Pt Premium/ Discount
SPDR® Barclays Emerging Markets Local Bond ETF EBND $27.99 $27.93 $27.88 -0.41%
Download Fund Data

x axis: # of days y axis: # Premium/Discount percentage

The above information is provided to show the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.